Toyota Outshines Tesla as King of Profitability, Ending Nearly 2-Year Reign
With the Model Y and Model 3 topping the sales charts, Tesla's dominance has surpassed the confines of the electric vehicle (EV) sector.
Phot Source- TOYOTA (FACEBOOK)
Battery-electric vehicles (BEVs) seized a record-breaking market share of 21.1% in California, as of June 2023.
Phot Source- TOYOTA (FACEBOOK)
The Japanese automaker is making a strategic pivot towards the EV market, selling 270,476 electric vehicles (including hybrids) in North America in the first half of 2023 alone.
Phot Source- TOYOTA (FACEBOOK)
Despite Tesla's increasing sales, Toyota unseated the electric vehicle pioneer as the world's most profitable car company in its recent fiscal quarter.
Phot Source- TOYOTA (FACEBOOK)
Several price cuts by Tesla to boost sales volumes resulted in diminishing profit margins.
Phot Source- TOYOTA (FACEBOOK)
A survey of 575 summer interns by Morgan Stanley found Tesla's desirability rating slipping from 19% last year to 14%.
Phot Source- TOYOTA (FACEBOOK)
Despite Tesla's dominance in EV sales, consumer preference seems to lean towards hybrids and even internal combustion engine (ICE) cars.
Phot Source- TOYOTA (FACEBOOK)
California aims for 100% of new car sales to be electric or plug-in hybrids by 2030.
Phot Source- TOYOTA (FACEBOOK)
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