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Luxury car manufacturers are struggling to enter the electric vehicle space, currently dominated by Tesla (TSLA). Automakers reduced their spending on internal combustion engine cars due to lower sales. However, their purses are widely open for electric vehicles and autonomous technology.
Tesla bear
Over the years, Tesla's bears have felt that the company might no longer be able to compete with the traditional builders once they'd get into the race for electric vehicles. Traditional automakers have not really focused on electric vehicles until about five years ago. And at one point, Fiat Chrysler said it did not want people to buy its electric vehicles because it was losing money on them. Even Tesla lost money on electric vehicles – the company has been profitable only in three quarters over the last decade.
Historic automakers expand their electric fleet
Meanwhile, traditional car manufacturers have expanded their fleet of electric vehicles. This expansion could be expected to create serious competition for Tesla, but this is not necessarily the case. According to InsideEVs, three of the five most sold electric vehicles this year come from Tesla. The space is dominated by the Tesla Model 3, which accounted for just under half of total US electric vehicle sales this year.
Competitor offers
The Audi e-tron and Jaguar I-Pace models are positioned against the Tesla Model S and X. However, based on their sales figures, luxury cars have not been up to par, Model S and X are selling better than their competitors despite falling shipments. According to InsideEV, 2,513 Audi e-trons were sold in the United States between April and July, an average of 628 cars per month. Although the model is a new launch, sales peaked at 856 units in May before dropping in June and July.
Jaguar I-Pace sales were even lower. With 1,522 units sold between January and July, monthly sales of the model averaged 217 units per month. They did not exceed 250 units in any month this year. In addition, Jaguar is facing a slowdown in sales in China.
Attract potential buyers
Meanwhile, Jaguar has put in place an incentive program to attract Tesla owners. According to Engadget, Jaguar is "offers a select group of Tesla owners a $ 3,000 discount on the price of its I-Pace EV. The offer is also available for anyone who lives in a household owner of Tesla. The reduction, coupled with a reduction in the dealership and an allowance credit, would lower the base price of the Jaguar I-Pace to $ 54,500. In comparison, the long-range Tesla X model costs $ 84,990, or $ 75,315 after fuel savings and incentives. The Tesla Model S costs $ 79,990, or $ 70,115 after deductions.
Buyers like Tesla
Sales figures indicate that people still love Tesla, despite higher actual prices. The driving space of cars could attract buyers. In addition, the company is expanding its Supercharger network and has brought back unlimited unlimited charge for the new X and S model cars. However, Tesla's after-sales service has been a concern for some buyers. The German car rental company Nextmove ended last week its contract to purchase additional models 3.
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