🚀 Tesla's dwindling market dominance

Plus: China numbers, Costco gets Semi, Elon's interview and more

Hey S3XY 🧤, In Germany, Tesla's year-to-date sales have experienced a notable decline of approximately 36%, despite the enticing 0% financing offer by the company. This downturn holds significant implications for Tesla, particularly considering that Germany stands as the largest automobile market in Europe and serves as a pivotal hub for the company, given the presence of its Gigafactory within the country.

While some may attribute this decline to the cessation of government incentives this year, recent data paints a more nuanced picture. Although BEV sales in Germany for April 24 showed a slight decrease of just 0.2% points compared to the previous year, it's noteworthy that despite the discontinuation of subsidies, the BEV market share remained largely stable. This suggests that the demand for BEVs in the country may be on a trajectory of sustained or even improved growth.

Meanwhile, in Norway, another key market for electric vehicles, Tesla's Model Y experienced a drop in rankings, slipping to the fourth position with 700 units sold in April 24. The top spot was claimed by the Volvo EX30 with 1095 units, though priced around ~25% lower than the Model Y. Following closely behind were the Volkswagen ID.4 and ID.3, securing the second and third positions, respectively.

These various data points underscore a broader trend indicating that the demand for more affordable BEVs is not limited solely to the Chinese market but is also increasingly evident across Europe as a whole.

And some other highlights from today’s letter 📨:

  • CATL CEO’s bold prediction.

  • Lucid poor results.

  • Adam’s new note.

  • Robyn Denholm cashing in TSLA.

Let’s take a dive..👇🏻



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Ouch: Tesla sales in Germany year to date is down 36.3% despite 0% financing offer.

Exercising options: Tesla’s Board Chair Robyn Denholm offloads about $17.32 million worth of TSLA.

Slow: Tesla's new FSD Autopark automatically activates as you navigate parking lots, but only when speed drops to below 8 mph.

Note: Adam Jonas tries his hands on FSD v12.3.6 and shares his point of view.

Human like: Check out how FSD performs at super busy turn with pedestrians all around.

Dark: Tesla has launched two new options for the Foundation Series Cybertruck with Tactical Grey Interior and 20" core wheel design and aero cover.

Self driving: How FSD is going to unfold Tesla’s true potential until Optimus shifts the whole Tesla paradigm.

Semi: After Walmart seen tring Semi recently, Costco doesn’t want to be left behind.

Numbers: In China, 10.9k Tesla insurance registrations were reported for the week of April 29 to May 5.


Watch Elon’s latest interview with time stamps where he talks about space exploration, free speech, declining birth rates and AI.

What Sandy Munro thinks about Tesla’s recent layoffs.

So you heard about using Tesla’s vehicle chip to compute and process the AI workloads to earn you some money.
Now CATL CEO Zeng Yuqun is talking about new business model of ‘vehicle to grid’ wherein one might use car battery as storage product and monetise parked car.

Ironman’s CyberTruck.

Argentina 🤝 Tesla.


Result: Lucid reported $684.7 million loss in Q1, 2024 on revenue of $172.7 million.

Rumour: Apple is in talks with EV maker Rivian about a possible partnership. Though these rumour mills coming right before earnings call is never a good sign.

Autonomy: Nio parking itself; Chinese auto & Tesla might bankrupt every legacy auto major if there were no trade barriers of any kind.

Market share: April’s result saw plugin EVs take 56.9% share in Sweden, with full battery-electrics (BEVs) at 30.9%.

Shutdown: Troubled electric automaker Fisker has reportedly begun the process of closing its main headquarters in Manhattan Beach, California.

Cheap EVs: Nio officially launched its website for the Onvo mass-market brand, teasing the upcoming L60 as the company’s first model.

E-truck: BYD will make the world debut of its first pickup truck model, the BYD Shark, in Mexico in a week's time.

Transition: UK Battery electric vehicle market share rises to 16.9% in April.

Teasing: The Kia EV3 will continue the EV9’s EV legacy. Kia recently teased its upcoming EV3 compact electric SUV, revealing its commitment to an electric vehicle future.

Swap: Nio has released an operational report of its charging and battery swap infrastructure for April, showcasing user usage habits.


Never give up. Today is hard and tomorrow will be worse, but the day after tomorrow will be sunshine.

Jack Ma

Jack talks about biggest regret of his life.


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