In the fourth quarter, Tesla surpassed market expectations and delivered more than 1.8 million
vehicles, exceeding its goal of 1.8 million vehicles by 2023. In the first quarter of the year, Tesla-
delivered 494,989 fully electric vehicles, which is slightly behind the 526,409 fully electric vehicles-
delivered by Chinese conglomerate BYD, Tesla's main rival.
Tesla managed to retain its lead in fully electric vehicle delivery despite a quarterly-
shortfall, whilst BYD delivered 1.4 million plug-in hybrids. It might impact profit margins for both companies, but
BYD's aggressive price cuts and incentives helped increase market share and recognition.
Tesla implemented discounts and incentives as part of its competitive strategy in the electric vehicle-
market. This was to boost sales before certain Model 3 variants lost US federal tax credits in 2024.
As a result of Rivian's underperformance, other US automakers, like Ford and General Motors,
reconsidered their plans to increase the production of electric vehicles. Rivian is the-
smaller rival who reported deliveries below market estimates.
The federal safety regulator has raised concerns about Tesla's Autopilot system, which includes-
self-driving capability. Tesla has recalled over 2 million vehicles as a result.
a prominent US non-profit group, expressed reservations about Tesla's software update. It suggested it-
may not sufficiently address safety concerns related to misuse and driver inattention.