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Tesla and BYD Have 55% of Global EV Sales for Q1 2024

Tesla and BYD Have 34% Share of Global Q1 2024 EV Sales

The situation is almost similar in terms of global plug-in (BEVs and PHEVs) car sales with these two accounting for over 31%. The global EV sales data for the first quarter of 2024 reveals some intriguing trends. The stats I am about to share with you have been sourced from EV Volumes. It is a reputed organization and is a part of J.D. Power. This portal has gathered data pertaining to the total global sales of pure electric cars, as well as plug-in cars which include BEVs and PHEVs. The two giants, in the form of Tesla and BYD, dominate the sales charts. Interestingly, 5 car marques comprise of over 55% of global EV sales out of the total 2.03 million. You might also like: U.S. Could Ban or Restrict Chinese Connected Vehicles Global Q1 2024 EV Sales The report mentions that the top five car conglomerates/OEMs for pure EV sales for Q1 2024 are – Tesla, BYD, Geely-Volvo, SAIC (incl. SAIC-GM-Wuling) and Volkswagen Group. Together, they own 55% of total EV sales while the rest of the carmakers own the other 45%. The details of each of these groups/OEMs as per car registration data are as follows: Carmaker Sales Market Share (Q1 2024) Market Share (Q1 2023) Tesla 386,825 19% 23.6% BYD 300,124 14.8% 14.7% Geely-Volvo 149,647 7.4% 5.7% SAIC (incl. SAIC-GM-Wuling) 149,290 7.3% 7.4% Volkswagen Group 136,949 6.7% 7.5% Global Sales Data for EVs in Q1 2024 Hawk-eyed among you would instantly notice that there is a significant decline in Tesla sales this year in comparison to the same time period last year. The number of EV sales for BYD and SAIC has remained roughly the same. Only Geely-Volvo has demonstrated healthy growth while the VW Group has also shown some depleting sales. Global Plug-in (BEVs + PHEVs) Car Sales in 2024 Interestingly, the list of top global plug-in car companies/conglomerates also consists of these 5 players only. However, the order is slightly different when we include plug-in hybrid cars. Still, the total number of plug-in cars sold globally in Q1 2024 is just over 3.21 million. Out of these, the top 5 hold over 51% market share. The breakdown of this data incorporates: Carmaker Sales Market Share (Q1 2024) Market Share (Q1 2023) BYD 624,398 19.4% 21.3% Tesla 386,825 12% 16.5% Geely-Volvo 251,106 7.8% 6.1% Volkswagen Group 205,652 6.4% 7.4% SAIC (incl. SAIC-GM-Wuling) 190,409 5.9% 5.5% Global Sales Data for Plug-in Cars in Q1 2024 This time around, BYD is at the top of the list because it sells tons of PHEVs in the domestic market. On the other hand, Tesla doesn’t sell a single PHEV which is why it slides down to the second spot. Still, it is quite impressive to post such numbers solely from pure EVs. Geely-Volvo maintains its third spot. Volkswagen Group overtakes SAIC this time around to clinch the 4th spot. You might also like: VW CEO Says PHEVs Are Necessary Transitional Technology Learn Electric Cars Says These stats unequivocally show that the initial surge of the electric mobility revolution which was resting on the shoulders of a select few car companies is slowly getting distributed evenly. Sure there is still a long way to go. But the market share of the top 5 players has reduced drastically in Q1 2024 in comparison to the same time period last year. That is also evident when we look at new players and more legacy carmakers emerging on the scene. Still, numerous established names in the automobile world are yet to enter the EV race completely including the likes of Toyota and Honda. Apart from that, many new emerging markets will also participate and contribute to global EV sales going forward. The EV industry is still in its infancy in many emerging global markets. Once they start chipping in with sales, the market share will be distributed much more evenly.

Elon Musk Says There’s A Way To Unlock More Range In Tesla Model Y

1 Comment / EV News / By LEC Team

The Tesla CEO announced via X that the higher range can be unlocked by paying an amount of $1,500 to $2,000. Tesla CEO Elon Musk took to his other company, X, to announce that Tesla Model Y owners can unlock more range by paying $1,500 to $2,000. However, he also clarifies that it will depend on the battery cells your EV has. This means that this unlocking of more range is not across the board. Furthermore, he states the owners can experience a bump in range in the vicinity of 40 to 60 miles (64 to 96 km). Tesla is working through regulatory approvals to enable this. You might also like: 2 in Top 5 Used EVs Come From Tesla as Used Car Industry Grows More Range in Tesla Model Y This announcement came in response to a tweet by Sawyer Merritt which mentions that Tesla has launched a brand new Long Range RWD Model Y variant in the U.S. It has a price tag of $44,990 which can go as low as $37,490 after the Federal EV credit. It offers a range of 320 miles (515 km). For comparison, the outgoing Model Y RWD had 260 miles (418 km) of range. But it has now been discontinued. It looks like Tesla wants to earn some extra bucks by unlocking extra range in the discontinued EVs. A certain Ethan commented on this announcement by saying, “Why not just give it for free?”. To this, Musk replied, “We have to pay the bills tomorrow”. This is in line with what has been happening at Tesla lately. We know that Elon had to fire the entire Supercharger team to cut costs. Charging $1,500 to $2,000 to unlock a feature which is already there in a car is also a step in that very direction. You might also like: Tesla Cars Cheapest To Maintain, Land Rover Most Expensive Learn Electric Cars Says It fascinates me to see how well-equipped Tesla cars already are. The technology is so advanced that even the owners don’t know what their EVs are capable of. Moreover, we already know that Tesla offers a myriad of hardware components which support autonomous driving (called the Autopilot in Tesla’s parlance) well before the technology is available. Being the visionary that Elon is, he has kept the provision for the future in the current cars. Hence, knowing that the existing batteries can offer a surge in range is not that alien afte all.

Tesla Model 3 and Y as Used Electric Cars

2 in Top 5 Used EVs Come From Tesla as Used Car Industry Grows

1 Comment / Featured / By LEC Team

The used electric car industry is growing strongly as more EVs get old and people have the option of choosing new models. In a recent study, it was found that 2 in every 5 used electric cars belong to Tesla. Now, that shouldn’t be a huge surprise for anyone. Tesla is the largest EV maker in the world. It has been widely regarded as the poster boy for the electric mobility revolution across the globe for almost a decade. As the EV market matures, we are bound to have a surge of EVs in the user car market. The trend of people opting for used electric cars is in an upward momentum. Let us glance at the top 10 used electric cars in the U.S. at the moment. You might also like: StoreDot and Polestar Achieve 10-Minute Charging w/ Si-Dominant Cells Top 10 Used Electric Cars The top 2 spots are reserved by Tesla Model 3 and Model Y, respectively. These are followed by the Nissan Leaf, VW ID.4 and Ford Mustang Mach-E at numbers 3, 4 and 5, respectively. The bottom half of the table is dominated by Audi e-tron, Chevrolet Bolt EUV, Bolt EV, Tesla Model S and Hyundai Ioniq 5, respectively. Hence, in total, there are 3 Tesla cars in the list of top 10 used electric cars on sale in the U.S. at the moment. Fun fact, the Tesla Model X fell out of this list this time around. Moreover, user car giant CarMax reports that searches for EVs on its website grew by 177% between 2021 and 2024. Also, the top vehicles which were traded-in include Ford F-150, Honda Accord, Honda Civic, Toyota Prius and Tesla Model 3. EV Average Price Tesla Model 3 $34,045 Tesla Model Y $43,896 Nissan Leaf $18,465 VW ID.4 $31,576 Ford Mustang Mach-E $38,713 Audi e-tron $41,205 Chevrolet Bolt EUV $26,776 Chevrolet Bolt EV $22,564 Tesla Model S $45,574 Hyundai Ioniq 5 $37,036 Top 10 User Electric Cars in the U.S. You might also like: Failure Rate of Modern EV Batteries is 0.1% – Study Learn Electric Cars Says With the expanding EV market across the globe, the used car industry is bound to experience a boost. However, things can get a bit complicated with EVs due to the astronomical expenses attached to battery replacement. I am particularly intrigued to see how will that shape the mindset of potential buyers. We know that battery replacement is the biggest cost associated with the ownership experience of electric cars. Generally, carmakers offer a warranty of around 150,000 – 200,000 km or 8 years (whichever is earlier). Therefore, if EVs are available well before that time period, people would be comfortable spending money. But I don’t see a scenario where anyone would want to risk it near the 8-year mark. Let’s see how things pan out in this regard going forward.

Tesla Model S has Lowest Maintenance Cost

Tesla Cars Cheapest To Maintain, Land Rover Most Expensive

Featured / By LEC Team

A latest study by Consumer Reports suggests that vehicles from the EV giant are the cheapest to maintain over a 10-year-long period. As per a recent study from Consumer Reports, Tesla cars came out to be the cheapest to maintain. The other end of the spectrum was occupied by Land Rover. The other expensive car marques in terms of ownership costs include the German luxury brands. On the other hand, the American carmakers featured toward the top of this list (cheaper to maintain). Tesla’s title also corroborates the theory of electric cars being less expensive to maintain. You might also like: Tesla Cuts FSD Prices By $4,000 and Model X, Y and S By $2,000 Tesla Cars Cheapest To Maintain In this survey, the ownership costs were calculated in two segments – 1-5 years and 6-10 years. We all know that vehicles generally don’t demand too many expenses during the initial few years. On top of that, a majority of this time period is covered under warranty. As a result, the maintenance costs are extremely low. But after let’s say, the first 5 years, the servicing and repairs costs start climbing. Spare parts are needed to keep the vehicles in top shape. Hence, the ownership costs are disproportionately high during this part of the lifecycle. The details of the maintenance costs related to specific carmakers are as follows: Company 1-5 Years 6-10 Years Total (10 Years) Tesla $580 $3,455 $4,035 Buick $900 $4,000 $4,900 Toyota $1,125 $3,775 $4,900 Lincoln $940 $4,100 $5,040 Ford $1,100 $4,300 $5,400 Chevrolet $1,200 $4,350 $5,550 Hyundai $1,140 $4,500 $5,640 Nissan $1,300 $4,400 $5,700 Mazda $1,400 $4,400 $5,800 Honda $1,435 $4,400 $5,835 Kia $1,450 $4,400 $5,850 Dodge $1,200 $5,200 $6,400 Jeep $1,100 $5,300 $6,400 Chrysler $1,600 $4,900 $6,500 Volkswagen $1,095 $5,435 $6,530 Cadillac $1,125 $5,400 $6,565 Ram $1,470 $5,200 $6,670 Lexus $1,750 $5,000 $6,750 GMC $1,400 $5,800 $7,200 Subaru $1,700 $5,500 $7,200 Mini $1,525 $6,100 $7,625 Acura $1,800 $6,000 $7,800 Infiniti $2,150 $6,350 $8,500 Volvo $1,785 $7,500 $9,285 BMW $1,700 $7,800 $9,500 Audi $1,900 $7,990 $9,890 Mercedes-Benz $2,850 $7,675 $10,525 Porsche $4,000 $10,090 $14,090 Land Rover $4,250 $15,000 $19,250 Ownership Costs of Car Companies You might also like: Tesla Eyeing Indian Factory With Capacity Of 500,000 EVs Learn Electric Cars Says Ownership cost is a crucial element that people consider prior to purchasing a car. It is often said that EVs have lower running and ownership costs in comparison to ICE cars. While there are not all that many EVs that have been around for 10 years, only the Tesla Model S has this title. The only real huge expense electric cars have is that of the batteries. But modern EVs often come with a warranty of up to 150,000 – 200,000 miles. Therefore, if owners change their electric cars before that expense sets in, there would be a significant cost-saving in comparison to ICE cars.

Tesla Cuts FSD Prices By $4,000 and Model X, Y and S By $2,000

1 Comment / Featured / By LEC Team

The largest EV maker on the planet is certainly feeling the heat with increased competition and declining sales in the first quarter. Tesla announced a $2,000 cut in the prices of Model Y, X and S, each in addition to a $4,000 cut in FSD. Note that Tesla was already offering its Fully Self-Driving technology (Level 2+ ADAS) at an offer price of $12,000. To spur the demand further and entice more customers, the Elon Must-led auto giant is now offering it for $8,000. Finally, it will also end the referral program on April 30. This used to offer owners additional incentives if they persuaded their friends or family members to purchase a Tesla car. You might also like: Tesla Eyeing Indian Factory With Capacity Of 500,000 EVs Tesla Model Y, S and X Prices Cut by $2,000 Each After the $2,000 price cut, the Model Y now has a base price of $42,990, its lowest ever. With this, the long-range trim now starts at $47,990 and the performance variant commences at $51,490. It is interesting to note that the Tesla Model Y was the highest-selling EV on the planet last year 2023. Offering discounts on the most popular EV in its lineup indicates how tough the situation is for Tesla. Also, the Model S now retails for $72,990, while the Plaid starts at $87,990. Finally, the base model of Model X starts at $77,990, whereas the Plaid trim has a retail sticker of $92,990. The discounts are not just offered for the US market, but also for the Chinese market. Hence, the largest EV maker in the world is offering benefits to spur demand in two of its biggest markets globally. If that was not enough, last week was particularly testing for Musk’s Tesla. It had to recall 3,900 Cybertrucks due to a faulty acceleration because of the accelerator pedal cover which kept getting stuck in such a position that it was flat to the floor keeping the futuristic electric in perennial acceleration. Not just that, Tesla even had to let go of 10% of its global workforce, and two key executives and sought investor approval for a $56 billion pay package for Elon Musk. All this led to a whopping 40% drop in the share price of Tesla year-to-date. You might also like: Tesla Clocks 6 Million Lifetime Sales, 1 Million In Last 6 Months Learn Electric Cars Says Tesla was the poster boy for the electric mobility revolution across the globe just a decade ago. However, as the industry embraces electrification, new players are emerging. Not just that, the legacy carmakers are putting in valiant efforts to transition to EVs. Amidst all this, Tesla has somehow managed to stay on the top for this long. But offering discounts, running ads, laying the workforce off, etc. are signs that the business is not sustainable just yet. Not to mention, the challenges for the potential customers in the mass adoption of electric cars are still immense. As a result, the current growth in EV sales has been underwhelming, especially when seen in conjunction with the ambitious forecasts. Prime regions including the USA and China are bracing for a slowdown in EV sales this year. One aspect we are intrigued to explore and witness is how well the emerging markets are going to adopt electric cars. That could determine the next wave of electric mobility.

Tesla Autopilot Death Lawsuit Settled Before Trial Started

Tesla Settles Autopilot Death Lawsuit Hours Before Trial Started

Featured / By LEC Team

The case about the death of a 38-year-old former Apple employee back in 2018 due to Tesla’s Autopilot was about to go before the jury for hearing. In a rather shocking turn of events, Tesla settles the notorious lawsuit over the death of a former Apple engineer, Walter Huang, while using Autopilot. This took place in 2018 on a San Francisco Bay Area highway. He was travelling in his Tesla Model X with Autopilot ON. The details of the settlement are still under secrecy. Tesla said that it agreed to settle this case to end years of litigation. Note that Huang’s family had filed the lawsuit in 2019. You might also like: Tesla Eyeing Indian Factory With Capacity Of 500,000 EVs Tesla Settles Autopilot Death Lawsuit The aim of this lawsuit was to hold Tesla responsible for exaggerating the capabilities of Tesla’s self-driving technology. Many cases against Tesla Autopilot have been filed, highlighting the ambiguity in the way Tesla promotes and advertises its semi-autonomous driving capabilities. Note that Walter Huang was allegedly playing a game on his iPhone during the crash. However, the Autopilot had been working for 18 minutes prior to the accident. This was revealed by the investigation conducted by the National Transportation Safety Board (NTSB). During the time of the unfortunate event, the vehicle was at a speed of 71 mph (114 km/h). The report also mentions that just 7 seconds before the crash, the Autopilot “began a left steering movement” and sped up. That is what ultimately caused the vehicle to hit the concrete barrier on the side of the highway. Walter succumbed to his injuries on the spot. We must also mention here that the NTSB report, after collecting the telemetry data from Apple, suggested that there was “possible user interaction”. Still, Huang’s family fought this finding because the report also cited “limitations” in Tesla’s Autopilot software which potentially contributed to the crash. Remember, the National Highway Traffic Safety Administration (NHTSA) has launched investigations into more than 950 crashes involving Tesla cars where Autopilot was claimed to be used. There are more than 3 dozen probes into crashes which resulted in 23 fatalities so far. Finally, Tesla decided to settle, at least, this case before it ever made it to the jury room. You might also like: Tesla Clocks 6 Million Lifetime Sales, 1 Million In Last 6 Months Learn Electric Cars Says Autonomous driving technology is constantly in the news for various reasons. While we understand the need and appeal, the implementation will be much harder than one would expect. We have to take into consideration the potential issues with not just the technology itself, but with the mentality of how people perceive, and ultimately use it. That is something no one can predict. Hence, even if we reach a point where the technology reaches its zenith and behaves perfectly (aka Level 5 Autonomous Driving Technology), we can never be sure about how car owners abuse it. That is something that policymakers, as well as car companies, will need to think about prior to declaring any car capable of autonomous driving without human intervention. We shall be watchful of how things pan out in this regard in times to come. Image Source

Tesla Eyeing Indian Factory With Capacity Of 500,000 EVs

4 Comments / Featured / By LEC Team

Elon Musk has been trying to enter the Indian market for a couple of years but the 100% import duty was a huge hurdle. The Indian factory of Tesla might soon become a reality which could have an annual capacity of 500,000 EVs. The recent EV policy of the government of India to reduce the import duties on premium cars from over 100% to 15% has created a buzz among interested parties. On top of this list was Elon Musk’s Tesla. It was in talks with the Indian government for the past couple of years, seeking a reduction in import tariffs. However, the Indian government had unequivocally clarified that it is willing to do so only if the foreign carmaker is prepared to set up local manufacturing with a minimum investment of $500 million. With the new EV policy, the import taxes are just 15%. Hence, Tesla is sending out officials to India to look for the ideal location to set up a factory which could incur a cost between $2 billion and $3 billion. You might also like: Tesla Reclaims Title Of World’s Largest EV Maker With Q1 Sales Tesla Plans Indian Factory With 500,000 Capacity This won’t be the first time Tesla will be sending out officials to India. There were many reports last year suggesting that the American EV maker was already scouting for Tesla headquarters in Bangalore, Karnataka. Apart from that, the officials were present to have dialogues behind closed doors with the Indian government officials to hurry with this EV policy. Now that it is finally here, it is Tesla’s turn to keep its end of the promise. The Indian automobile industry is the 4th largest in the world, behind only China, the USA and Japan. Hence, Tesla understands the importance of this burgeoning marketplace. This is especially crucial since the EV demand, in top developed countries like the USA and China, is dwindling. In fact, the industry is anticipating a slower growth this year. In such a scenario, expanding its footprint across diverse nations like India, the Middle East, South East Asia and parts of Europe seems logical. Tesla’s $25,000 EV A crucial part of Tesla’s future plans is the much-talked-about ~$25,000 EV. It is very much possible once manufacturing shifts to a country like India. In India, Tesla is closely evaluating regions like Gujarat, Maharashtra and Tamil Nadu to set up the production facility due to the already existing automobile infrastructure in these regions, the availability of OEM suppliers, and proximity to the ports in order to flood the neighbouring markets with Made-in-India EVs. Once Tesla commences its operations here, many auto ancillaries will also be attracted. This would increase the foreign investment in India significantly. In return, the government of India will extend enticing subsidies and incentives to Tesla to sell their vehicles in the country. In that way, the local economy will get a boost with this investment, and Tesla will be able to manufacture its EVs are affordable prices to compete with tons of newcomers in various new markets in this part of the world. Hence, it will be a win-win for both stakeholders. You might also like: Tesla Clocks 6 Million Lifetime Sales, 1 Million In Last 6 Months Learn Electric Cars Says Tesla, just like many other international companies with varied backgrounds, is ideally trying to shift operations from China to India. While that is a big deal, choosing India makes sense otherwise too. In order to expand its global footprint, having a base in one of the biggest automobile markets in the world is prudent. Even though the EV demand in China and the USA is slow, the Indian and its neighbouring markets are still at a nascent stage. There is a ginormous room for growth, at least for the next few years. Let us see how fast Tesla can capture the Indian market and commence production there.

Tesla Reclaims Title Of World’s Largest EV Maker With Q1 Sales

1 Comment / EV News / By LEC Team

The American EV giant sold 386,810 electric cars in Q1 of 2024 in comparison to BYD’s 300,114 units. As per the sales data for Q1 2024, Tesla has reclaimed its title of the biggest EV maker in the world. This news report becomes important because, in the last quarter of 2023, the Chinese auto giant BYD overtook Tesla in total EV sales. That was a huge deal where the American auto giant had lost the top spot in quarterly sales for the first time ever. Speculations were floating suggesting that the Chinese automakers might finally be about to take over. But the first quarter of 2024 indicates otherwise. You might also like: Tesla Clocks 6 Million Lifetime Sales, 1 Million In Last 6 Months Tesla Q1 2024 Sales The 386,810 units sold by Tesla in Q1 of 2024 might be the highest in the world, but this number is significantly lower than what it sold in the last quarter. How low? Well, 20.2% lower! Not only that, this Q1’s sales are also 8.5% lower than the Q1 of 2023 (same period from last year). That is an unequivocal indication of the overall industry slowdown. In fact, the global automobile industry is largely driven by the Chinese market. Hence, these numbers represent the slowing down of EV demand. BYD Q1 2024 Sales That also explains the huge decline in BYD’s EV sales of 300,114 units in this quarter in comparison to the last quarter (526,409). However, in BYD’s case, these sales numbers are a significant 13.4% higher than what it sold in Q1 of 2023 (same period from last year). These numbers highlight that this year is going to be a slow year in terms of sales and demand for EVs. You might also like: 1,300 hp BYD YANGWANG U9 Is Ready To Redefine Electric Supercar Segment Learn Electric Cars Says The overall EV industry is in a slowdown, at least in the biggest economies in the world including the USA and China. Hence, these dictate the overall market trends. Nevertheless, some developing countries are still new to this EV revolution and are, therefore, displaying extremely positive growth signs. Going forward, the EV industry could also benefit from these small nations as EV adoption becomes more widespread. In any case, we shall have to keep an eye out for how each quarter from here on pans out in terms of global sales.

Tesla Clocks 6 Million Lifetime Sales, 1 Million In Last 6 Months

1 Comment / EV News / By LEC Team

Tesla announced, via its X handle, that it just produced its 6 millionth car, ironically, the Model Y. Tesla becomes the first EV maker on the planet to achieve 6 million lifetime sales. Despite stiff competition from the Chinese auto giant, BYD, the American giant has stood its own. Sure, there were a few hiccups, particularly in the last year. The overall sales and demand have been lower than anticipated. The competition is increasing with each passing day. But hitting this magical number should boost the confidence of the team to handle future challenges with new vigour. Produced our 6 millionth car! Thank you to our owners & teams around the world for your support & hard work—it truly matters. 🌎🌍🌏❤️ pic.twitter.com/F4IeQtK0PS — Tesla (@Tesla) March 29, 2024 You might also like: Xiaomi SU7 EV Launched At $4,000 Less Than Tesla Model 3 Tesla Hits 6 Million Lifetime Sales Tesla took to X to announce this impressive milestone. The post read, “Produced our 6 millionth car! Thank you to our owners & teams around the world for your support & hard work-it truly matters.” Along with this text, there is a warm video clip of the massive team with visual representations confirming 6 million sales. You must already know that the Model Y is the highest-selling EV on the planet, significantly contributing to this ginormous number. The American EV giant has surely come a long way from 2008 when it first launched the Roadster. You would be surprised to know that it took Tesla 12 years to hit 1 million sales, just 15 months to hit 2 million sales and 10 months to achieve 3 million sales. It was only in March 2023 that Tesla completed 4 million sales. Finally, in September 2023, Tesla announced its 5 million sales. Fast forward to today, an unprecedented number of 6 million comes to life. You might also like: Elon Musk Confirms Free FSD Trial For A Month On Tesla Cars! Learn Electric Cars Says Even though Tesla is alone at the top of the summit in terms of lifetime EV sales, things are looking challenging ahead. Realizing this, Tesla is working relentlessly to enter and conquer new markets before the competition arrives. There are still huge markets to be captured including India, Turkey, the Middle East, Southeast Asia and parts of Europe. Hence, it needs to keep working at lightning speed. On the other end of the spectrum, the Chinese auto giants are doing everything in their power to expand their footprint as well. Some of them are already so big in their domestic market, that their sales numbers are just through the roof. With further plans of flooding the international markets with relatively inexpensive products, they will surely make things extremely difficult for Elon Musk’s Tesla. In any case, the potential customers stand to benefit as car marques will try to offer the best products with the latest tech and performance at affordable prices.

Elon Musk Confirms Free FSD Trial For A Month On Tesla Cars!

EV News / By LEC Team

In an effort to boost demand and keep up with the increasing competition, Tesla is offering a free trial of FSD on its cars for an entire month. All Tesla cars (which support FSD) will get a free one-month trial to test the FSD, confirms Elon Musk. FSD, in Tesla’s parlance, refers to the Full Self-Driving System. In essence, it is an evolved avatar of the regular ADAS we find on many modern cars. However, as the name suggests, Tesla’s FSD is capable of fully autonomous driving, but only in select locations and roads. To ensure that every Tesla owner gets a taste of how this technology actually works, Elon Musk announced via X that Tesla will offer a free trial to the owners whose cars support the latest FSD version 12.3.1. All US cars that are capable of FSD will be enabled for a one month trial this week — Elon Musk (@elonmusk) March 26, 2024 You might also like: This One-of-a-kind 2-Seat Tesla Model Y Has A 2,158-litre Boot Free FSD Trial For Tesla Cars While engaging in a conversation with Whole Mars Catalog post on X, Elon Musk wrote, “All US cars that are capable of FSD will be enabled for a one-month trial this week.” This came after TeslaMojo expressed, “The one-month FSD Beta trial should include any existing owners who have never experienced it.” He tagged Elon Musk, Whole Mars Blog and Sawyer Merritt in this post. That is when Elon Musk made this exciting announcement. You might also like: Which EVs Use Tesla Superchargers? Tesla FSD Tech Normally, the FSD costs $12,000 to the customers who wish to use it. However, in recent times, we have seen a slowdown in the sales of EVs in general. Tesla has also reeled under the aftermath of the slowing sales. Apart from that, the competition from the rivals, particularly in markets like China (from BYD), has been fierce. Tesla lost the top spot for highest EV sales in the last quarter of last year to BYD for the first time ever. Hence, the Chinese auto giant is clipping on the heels of the American EV marque. To create demand and boost sales, Tesla is adopting unprecedented means. For instance, last year, we saw multiple price cuts from Tesla, something we had never seen before. Secondly, Tesla, for the first time, started advertising its products. Finally, Elon Musk’s promise to hand out freebies in order to get potential customers, as well as existing customers, excited about the FSD, is yet another sign that Tesla is leaving no stone unturned to expand its market share. You might also like: Kia EV6 Facelift Spotted Testing – Everything We Know So Far Learn Electric Cars Says The fact that Elon Musk is offering such amenities to the public for free is a testament to just how concerning the situation is. The USA and China are witnessing slower-than-expected sales of electric cars. Note that while the overall sales are still rising, they are not increasing as rapidly as industry experts had anticipated. Also, this is true only for the mature markets. In the developing countries, the EV adoption is still at a nascent stage. Hence, the demand and sales are at an all-time high. We shall have to observe how these desperate measures from Tesla affect its sales going forward.

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