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Tesla profits slumped 46% last year, as it lost its crown as the top EV seller
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Tesla, once the undisputed global leader in electric vehicle sales, has lost that crown as its brand reputation has soured and competition — particularly from China — has grown more intense.
Tesla lost its spot as world's top EV sellerA Chinese company, not Tesla, is now the world's top EV maker.
In Europe, EV sales increased by more than 50% year-over-year, while those popular hybrids rose only 6%.
In 2020, LexisNexis found that among existing Tesla owners who purchased another EV, a remarkable 98% got another Tesla.
The "Full Self-Driving (Supervised)" software that allows Tesla vehicles to steer themselves — with human oversight — is central to Musk's vision for the company.