Interest in buying Tesla electric cars has fallen>

CEO Elon Musk said at the end of October that he expects Tesla to continue to be able to sell every electric car it makes. That has recently been called into question again, as Q3 2022 production was unexpectedly significantly higher than sales. This could be related to the fact that two new Tesla factories are being developed and capacity is being increased further in China. However, for the US, market researchers are now reporting that interest in buying Tesla has dropped drastically in the third quarter of this year.

Only the Tesla Model 3 is in the top ten

In the second quarter of this year, 15 percent of all premium car buyers surveyed by market research firm Cox Automotive said they were considering a Tesla for their next purchase. In the new survey, it was just 12 percent, causing the brand to drop from fifth to sixth place, according to the statement. According to Cox, BMW remained the leader of interest in purchasing in the US with 22 percent.

Tesla also had to lose feathers in the US with individual models in the third quarter. Previously, three of them, the Model 3, Model Y and Model S, were in the top ten among American buyers. Now the Model Y, launched for them in early 2020, has dropped from the list, as has the Tesla Model S, which was renewed in early 2021. The Model 3 has claimed its place at the top (see photo above). from the premium list despite less interest.

A drop of 3 percentage points across the brand doesn’t sound dramatic. However, it was strongest in the premium segment from the second to the third quarter, according to market researchers.

Subsidies for electric cars could be a drag

Market researchers believe this “weakening demand” is likely due to increased competition from electric cars and Tesla’s higher prices. CEO Musk’s takeover of Twitter and his controversial statements could also play a role. The brand needs fresh produce, Cox writes. In the past, however, Tesla has experienced a decline in interest and then a rapid recovery. Another factor not mentioned in the study, but still possible: Starting in early 2023, some Tesla electric cars will again be eligible for a $7,500 tax credit when purchased.

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