Elon Musk’s Tesla is facing increasingly formidable local rivals in China’s booming electric vehicle market.
. By comparison, affordability remains a big challenge for potential buyers in the U.S., where the current average transaction price for a battery-powered model tops $64,000, according to Kelley Blue Book—reflecting Tesla’s U.S. dominance of that segment.
Analysts generally expect Tesla’s production pace to accelerate in the second half of 2022, aided by the addition of new plants in Germany and Texas, though output has temporarily slowed again at Giga Shanghai and Giga Berlin, as those facilities are getting modified to boost production capacity.Tesla led global EV sales in 2021, delivering 936,027 units of its Model 3 and S sedans and Y and X SUVs.
With its luxury-priced vehicle line and the possibility of a recession in the U.S. and Europe from late this year, Tesla may face lower demand toward the end of 2022.
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