The Beijing International Auto Show, after a four-year absence, is important for Chinese cars, but it seems inconsequential for Tesla. In addition to those that have withdrawn from the stage, almost all car brands are competing for beauty, showing their strength at the Beijing Auto Show, and when Lei Jun brought another wave of traffic, Tesla, which was absent, became more and more lonely.
Tesla absent from the Beijing Auto Show
At this Beijing Auto Show, I occasionally heard the discussion of the on-site personnel - Tesla did not seem to participate in the exhibition.
I thought we could see the Cybertruck at such an international auto show, but I didn't expect Musk to give us a chance. But it is estimated that Musk at this moment is worried.
According to the just-released financial report, Tesla's total revenue in the first quarter was $21.3 billion, down 9% year-on-year, and net profit fell sharply by 55.16%. After the earnings report was announced, a number of investment institutions reacted quickly and lowered Tesla's target price.
Not to mention the financial report, Tesla's stock price is also showing weakness. At the end of December 2023, Tesla's stock price peaked at $253 and fell to $144 four months later, a drop of 43%, and in terms of sales, Tesla also declined in the first quarter, with global deliveries of 386,800 vehicles, down 8.53% year-on-year.
Recently, Tesla has also been exposed to the news of breaking contracts with fresh graduates, layoffs and other unfavorable brand image, which inevitably makes people speculate that the reason why Tesla did not participate in the exhibition is closely related to the poor business conditions during this period.
In fact, this is not the first time that Tesla has been absent from the Class A auto show, and Tesla has rarely appeared since the roof rights protection incident at the Shanghai Auto Show. Whether it is worried about the recurrence of the rights protection incident, or whether it is believed that the exhibition or non-participation is not important when the brand has a large influence, etc., etc.,
Lei Jun is replacing Musk?
Although Tesla's sales have only fallen slightly, there is a significant gap compared to the rapid growth in the past. On the other hand, the eliminated brands have been eliminated, the bankrupt ones have gone bankrupt, and the rest have pressed the accelerator button, seeking more ways to boost their own sales.
What's more interesting is that in the past, Musk frequently showed his face on the Internet, but now with Lei Jun's entry, Musk's actions have been less and less noticed, and the sky-high traffic has gushed out on Lei Jun's personal IP, and has caused everyone to imitate it, in order to rub some traffic - at the marketing level, Lei Jun is replacing Musk.
It is worth noting that since the launch of Xiaomi SU7 on March 28, the topic of Lei Jun and Xiaomi in the automobile circle has never been interrupted. Especially at the Beijing Auto Show, even though the car companies invited many celebrities to help, in the end, the traffic of the entire auto show was almost contracted by Lei Jun alone.
Personally, I believe that in the past, whether it was volume or sales, Tesla, as a catfish, suppressed domestic brands with an absolute advantage, which can be described as "suffering Tesla for a long time"; with the entry of Huawei and Xiaomi, the public's perception has been refreshed in marketing, and Lei Jun represents a Chinese entrepreneur, who is easy for everyone to accept, and of course also hopes to work together to achieve real corner overtaking.
At last
The reality in front of us is that before and after the launch of Xiaomi SU7, many car companies adjusted their strategies to deal with it, and even after Tesla willfully raised prices, it had to reduce profits by 14,000 yuan in the near future to reduce profits and ensure sales. After all, Lei Jun revealed that Xiaomi SU7 has currently locked more than 75,000 units, and its popularity is obviously far greater than that of Tesla, which many Chinese people worship as a god.
Musk personally admitted that Tesla's low-cost car is coming. As soon as this move comes out, it means that the new energy vehicle industry will continue to increase its burning efforts. Of course, Musk can't take too much care of it. The more popular Lei Jun and Xiaomi are, the more lonely they and Tesla become.