Cox Auto's Report on Tesla Q2 EV US market share slide is biased
$Tesla(TSLA.US$ $BYD COMPANY(01211.HK$ $NIO Inc(NIO.US$ $XPeng(XPEV.US$ Cox Auto reported with a headline "Despite Tesla Slide, EV Sales in Q2 Marked New Record" is biased. Let me highlight 2 points:
1) Cox Auto reported that the total Q2 2024 EV sales in the US are +11.3% YoY and +23% QoQ. It gave Tesla Q2 2024 EV sales -6.3% YoY but didn't show QoQ data.
According to CNBC, Tesla Q2 2024 EV sales in the US are -4.8% YoY and +14.8% QoQ. The reason for the difference in YoY data is because Cox Auto used Markliner data and CNBC used Tesla data. Markliner data which is not accurate and unverified may come from a third party. Tesla EV sales showed growing based on QoQ data.
CNBC: (Tesla) The total number of deliveries in the second quarter fell 4.8% from 466,140 a year earlier but rose 14.8% from the first quarter.
2) Cox Auto reported that the Tesla Q2 2024 share of EV sales in the US fell below 50% to 49.7%.
For the Q2 2024 total EV sales, it provides "% of new vehicle sales" increase from 7.2 to 8% YoY. It didn't provide such data for QoQ and for Tesla Q2 EV sales.
My Take:
1) Brian from x.com thinks it is a remarkable achievement for Tesla to hold more than 50% market share for so long. With more EV startup brands coming out each year, Tesla market share will fall naturally.
2) Cox Auto is biased for not providing QoQ EV sales for Tesla and the change in market share for individual EV brands which could be falling. It used "% of vehicles" which makes one wonder if the EV sales data of other brands include hybrid EV. This is a statistically unfair comparison because Tesla produces only pure EV or battery electric vehicles.
Source:
$BYD COMPANY(01211.HK$ $BYD Co.(BYDDF.US$ $S&P 500 Index(.SPX.US$ $Nasdaq Composite Index(.IXIC.US$ $Tesla(TSLA.US$ $VOLKSWAGEN A G(VWAGY.US$ $NIO Inc(NIO.US$ $Li Auto(LI.US$ $XPeng(XPEV.US$ $General Motors(GM.US$ $Ford Motor(F.US$ $Rivian Automotive(RIVN.US$ $MERCEDES-BENZ GROUP AG(MBGAF.US$ $TOYOTA MOTOR CORP(TOYOF.US$ $GEELY AUTO(00175.HK$ $Stellantis NV(STLA.US$
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I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.
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ZnWC OP : Such a biased comparison was reported monthly (from April to June) by Automotive News. Tesla doesn't provide monthly sales hence their source of data is from unverified source like Markliner.