Tesla Experiences Decreased Sales, Down Two Quarters In A Row?

Tesla Model Y is the best-selling used electric car globally in 2023. (Doc. Tesla)

JAKARTA - Tesla is predicted to experience a decline in second-quarter shipments for the first time in two consecutive quarters, signaling a slowdown in the company's growth. This, Reuters reported, July 1, was due to intense competition in the Chinese market and sluggish demand due to Tesla's lack of new affordable models.

Analysts predict Tesla delivered 438,019 vehicles between April and June, based on the projected averages of 12 analysts surveyed by LSEG. Seven of these analysts have lowered their expectations in the past three months. The EV maker is scheduled to announce its official results on Tuesday.

This decline marks a setback for Tesla, which has previously experienced rapid growth over the years and made it the world's most valuable automaker. In January, Tesla itself had predicted that shipment growth in 2024 would be "very low" due to reduced push from price cuts for months.

Meanwhile, the situation was even positive for Zeekr, in the release of the Chinese automaker, which is owned by Geely Automobile Holdings, managed to deliver 20,106 units of vehicles in June 2024, showing a remarkable 89 percent increase year-on-year.

This achievement continues the positive trend of Zeekr in 2024. The total shipment of Zeeker vehicles so far this year reached 87,870 units, up 106 percent compared to the same period last year. With this score, as of the end of June 2024, the total accumulation of Zeekr shipments reached 284,503 units.

NIO delivered 21,209 vehicles in June 2024, representing an increase of 98.1% year-over-year. The deliveries consisted of 11,581 premium smart electric SUVs, and 9,628 premium smart electric sedans. NIO delivered 57,373 vehicles in the second quarter of 2024, representing an… pic.twitter.com/Dol7tKe0K7

— NIO (@NIOGlobal) July 1, 2024

NIO delivered 21,209 vehicles in June 2024, representing an increase of 98.1% year-over-year. The delivery concessions of 11,581 premium smart electric SUVs, and 9,628 premium smart electric sedans. NIO delivered 57,373 vehicles in the second quarter of 2024, representing an... pic.twitter.com / Dol7tKe0K7

Not only Zeekr, another Chinese manufacturer, NIO, recorded the highest monthly sales record in June 2024. NIO achieved its highest monthly sales achievement with 21,209 vehicle units in June 2024. This signifies a significant increase of 98.1 percent compared to June 2023.

The delivery details consist of 11,581 premium electric smart SUVs and 9,628 premium electric smart sedan units. For the entire second quarter of 2024, NIO managed to deliver a total of 57,373 units of vehicles, up 143.9 percent compared to the same period last year. As of June 30, 2024, the total accumulation of NIO vehicle shipments reached 537,020 units.