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Auto industry spent less on advertising in 2022; Tesla already spends $0

Teslarati

Although Tesla spends $0, the decline in ad spending could be an indicator of troubles for an industry trying to compete with Tesla’s EV lead. Reuters reported that the auto industry’s ad spending fell to $4.8 Follow us for interactive news & more. billion between January and July 2022 or 4% year-on-year.

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First videos of Rivian R2 and R3 driving on public roads show size comparisons

Baua Electric

Now video has emerged showing these cars driving on public roads, next to other cars, offering a better visual size comparison, and a look at the cars in motion in the sunlight. In the R2 unveiling, Rivian did tell us all the dimensions of the R2, so the comparisons there aren’t as important.

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Stellantis sees a drop in Q1 2024 revenue, ahead of BEV launches

Teslarati

#Stellantis #CFO Natalie Knight: “During Q1 2024, we have introduced four new models out of our full-year launch plan of 25 models, including 18 BEV nameplates, which we believe sets the stage for materially improved growth and profitability in the second half of the year."

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GM’s Tesla NACS support spells trouble for Electrify America [Opinion]

Teslarati

In comparison, Electrify America has 3,503 fast chargers and 116 Level 2 chargers in the United States. General Motors and Ford hold a significant market share of the United States auto industry. While those market share numbers reflect fossil fuel and new energy vehicle sales, they are a good benchmark for the future.

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Europe’s biggest EV market is about to hit a perfect storm of problems

Baua Electric

Germany is Europe’s biggest auto market, and it’s been one of the main drivers of EV growth. Germany’s VDA, an interest group for the country’s automobile industry, says that battery-powered vehicles are likely to see a decline from 524,000 units last year – more than any other European market – to 451,000 units this year.

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News: Tesla Announces Annual Earnings, New Focus on Production

Clean Fleet Report

For comparison, General Motors, one of the three largest car companies in the world, reported $10 billion of profit for last year. The timing of this move by Tesla is opportune since the global auto market for EVs is catching up. Not only are the numbers of new EVs growing, but their quality and acceptance is rising.

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Tesla (TSLA) Q2 2021 earnings call set for July 26

Teslarati

In comparison, Wall Street’s consensus pointed to Tesla delivering 201,000 vehicles during the quarter. These headwinds included an ongoing chip shortage that has adversely affected the auto industry as a whole, as well as delays in the rollout of the new Tesla Model S Plaid. Disclaimer: I am long TSLA.

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