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Elon Musk's controversial reputation is deterring 60% of potential Tesla buyers, according to a survey, with many turning to Chinese EV brands like BYD, which are gaining popularity due to improved perceptions of quality and affordability. Tesla's market dominance is waning, as evidenced by a 1% decline in global sales in 2024, marking the first drop in over a decade. With the number of electric vehicle options expanding significantly, consumers are increasingly willing to explore alternatives.
Wall Street analysts predict Tesla's 2025 vehicle sales will grow at a slower pace than Elon Musk's projections, estimating a 16% increase to 2.07 million units amid potential rollbacks of EV incentives under President Trump. Concerns over competition, an aging product lineup, and the impact of high prices on the EV market further complicate Tesla's outlook, despite optimism surrounding its advancements in artificial intelligence and autonomous driving technology.
Ginny Buckley
People
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elon musk's reputation drives buyers away from tesla as competition rises
09:42 27.01.2025
tesla faces sales challenges amid changing ev policies and market pressures
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