Sou Hu Cai Jing·2025-11-26 07:45Core Viewpoint - Tesla's CEO Elon Musk has focused heavily on the company's robotics business this year, successfully pushing shareholders to approve a new $1 trillion compensation plan, while the outlook for Tesla's core automotive sales is becoming increasingly bleak [1][3]. Group 1: Sales Performance - Tesla's October sales in Europe plummeted by 48.5% year-on-year, with a cumulative decline of approximately 30% for the year [3]. - In contrast, overall electric vehicle sales in Europe grew by 26% during the same period, indicating a significant market share loss for Tesla [3]. - Tesla's global delivery forecast for 2025 is expected to decline by 7%, following a slight decrease of 1% in 2024, despite a record high in Q3 deliveries driven by a rush to purchase before a tax credit expiration [3][4]. Group 2: Competitive Landscape - The European market is increasingly competitive, with over ten electric vehicle models priced below $30,000, and numerous new entrants, particularly from Chinese brands, intensifying competition [4][5]. - In the UK alone, there are currently over 150 electric vehicle models available, none of which are from Tesla, highlighting the growing diversity and competition in the market [4]. - BYD's sales in Europe reached 17,470 units in October, doubling Tesla's sales during the same period, while Volkswagen's electric vehicle sales surged by 78.2% year-on-year, outpacing Tesla's performance [5]. Group 3: Strategic Challenges - Tesla's product lineup is perceived as outdated, with only the Model 3 and Model Y available for the mass market, limiting its competitive edge [4][5]. - Analysts suggest that Tesla's short-term prospects in Europe are bleak, and the company needs a new model to significantly boost sales [6]. - Musk's recent compensation plan does not set high growth sales targets, reflecting the current weakness in Tesla's growth momentum, as it only requires an average annual delivery of 1.2 million vehicles over the next decade, which is significantly lower than previous actual delivery figures [6].