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In the first quarter globally, Tesla saw a 13% drop in sales, with approximately 337,000 vehicles delivered, down from 387,000 in the same period last year. This contraction comes at a time when the electric vehicle market is expanding, highlighting a notable contradiction: while the industry is growing, Tesla seems to be losing ground.
Natural Competition in the EV Sector
One of the primary reasons for Tesla's decline can be attributed to the stiff competition from other automotive giants that are actively innovating and investing in electrification. Furthermore, the surge of Chinese brands gaining traction in markets worldwide is reflected in Tesla's shrinking market share.