Is Tesla Losing Ground in the Global EV Market?
| Case Code: BSTR625 Case Length: 15 Pages Period: 2016-2021 Pub Date: 2021 Teaching Note: Available |
Price: Rs.400 Organization: Tesla Inc. Industry: Automotive Countries: United States Themes: Competitor Analysis, Competitive Environment, Competitive Strategy, Disruption |
Abstract Case Intro 1 Case Intro 2 Excerpts
Introduction
In February 2021, leading global Electric Vehicle (EV) maker Tesla Inc.’s (Tesla) share in the US electric car market dropped to 69% compared to 81% in the corresponding period of the previous year. The company recorded a mere 5.4% sales growth in February 2021.Reportedly,Ford Motor Corp’s (Ford) electric sport-utility vehicle, the Mustang Mach-E, was eating into Tesla’s market share as it became the third highest selling electric car model in the US in February 2021. Meanwhile,in Europe, one of the world’s largest EV markets, Volkswagen AG (VW) beat Tesla to become the top-selling all-EV maker in 2020.According to analysts, Tesla faced serious competition in the EV space,as startups such as Lucid Motors , Fisker Inc. (Fisker), and Rivian Automotive LLC (Rivian) to more established players such as General Motors (GM) and The Nissan Motor Company Ltd. (Nissan) began to build their own EVs and flood the market.“Tesla is not going to be king of the hill in electric forever. They’re getting competition from all sectors. They’re going to have to double down to compete,” said Steve Westly (Westly), a former Tesla board member..
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