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HomeTeslaFord and GM could overtake Tesla in 2025 | Automotive News

Ford and GM could overtake Tesla in 2025 | Automotive News

When a company dominates a market, as it has with Tesla and electric vehicles for years, it ends up being targeted by its main competitors. At first it takes the form of a healthy rivalry, but it often ends up in a group fire against the enemy.

This is what is happening with Tesla, whose market share in the world of electric vehicles is currently around 70%. However, according to the annual study of Car Wars by Bank of America Merrill Lynch, the latter could fall to 11% by 2025 due to the pressure which will be exerted by GM and Ford.

And let’s not forget Volkswagen, whose avowed objective is to take Tesla’s first place in the electric car market on a global scale.

According to the study, in 2025, Ford and GM will each hold 15% of the market share for electric vehicles. This would be a 10% increase for each of the firms over their current positions. This 20% gain, we guess, will be mainly at the expense of Tesla.

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At the heart of this growth will be models such as the F-150 Lightning pickup truck from Ford and Silverado EV from Chevrolet, but also all the other electric products that the two firms will offer. John Murphy at Bank of America Merrill Lynch does not mince his words:

“Tesla’s dominance in the electric vehicle market, especially in the United States, is over. It will move drastically in the opposite direction over the next four years. »

– John Murphy, senior analyst at Bank of America Merrill Lynch

And if the latter expresses himself thus, it is because he believes that Tesla will lose its dominant position because it does not expand its portfolio quickly enough to follow both the traditional manufacturers, but also the new companies which develop their ranges of electrical products (Rivian, Lucid Motors, etc.). He opines that Elon Musk, the big boss of Tesla, has benefited from a vacuum over the past ten years, when competition was not very strong, or even non-existent.

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This void will be filled over the next few years. And whatever one may say, Tesla has darkened and innovated while things were sleeping on gas elsewhere. Ironically, it was his incredible dominance that would eventually cause him to take a step back, as the competition finally adjusted.

And still ironically, it’s now Tesla’s delays that will hurt him. The company has repeatedly delayed its Cybertruck and plans for the next generation Roadster have also been pushed back. If all goes well, there is talk of a production that would be launched next year.

According to John Murphy, “Elon Musk did not act quickly enough. His hubris meant that he never believed other builders would catch up with him to be able to do what he does, but they do. »

Ford has already announced that it will be able to build two million electric vehicles worldwide by 2026. GM believes it will be able to do the same in North America and China by 2025.

The current situation with all its variables could be a game changer, but we seem to be heading for a changing of the guard.

Volkswagen ID.4

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