Since the beginning of 2024, Tesla has lost $94 billion in capitalization – Kommersant
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The American company Tesla has lost $94 billion in market value since the beginning of 2024, according to agency calculations Bloomberg. Shares of Elon Musk’s company fell amid competition with Chinese brands and reports of Hertz Global Holdings Inc.’s intentions. (car rental companies) to abandon electric vehicles, the agency notes.
Tesla’s 12% decline since early January is the company’s worst performance since 2016. Then Tesla shares fell 14% in the first nine days of the year. In general, the current losses in capitalization, Bloomberg notes, have become the maximum since Tesla went public in 2010.
January 12 Tesla reduced prices for two models of its electric vehicles produced in China. The cost of Model 3 was reduced by 5.9%, to 245.9 thousand yuan ($34.3 thousand), Model Y – by 2.8%, to 258.9 thousand yuan ($36.1 thousand). Over the past year and a half, Tesla has repeatedly lowered the prices of its electric vehicles in the United States and China.
Based on the results of last year, the Chinese manufacturer of cars with electric motors BYD again ahead Tesla by total car sales. BYD sold 3 million cars in 2023, while Tesla sold 1.84 million.
What explains the success of the Chinese conglomerate – in the Kommersant material “BYD is catching up with Tesla”.
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