Tesla sales down 13.5% in Q2
Industry registration data indicates that both US and European sales have fallen sharply, despite an overall increase in electric vehicle (EV) sales in both markets. Tesla also faces increased competition, not only from legacy Western automakers but also from Chinese manufacturers. This competition has significantly impacted Tesla's sales in China, the largest market for both EVs and auto sales, and Tesla's second-largest market.
Tesla is poised to lose its title as the world's largest EV maker based on annual sales to Chinese automaker BYD, even though BYD does not sell cars in the US market. BYD has reported it has sold one million EVs in the first half of this year, exceeding Tesla's year-to-date total of around 721,000 units.
Analysts point out that while Tesla has recently given its popular Model Y an update, it lacks a more affordable product offering – which has created an opportunity for rivals such as BYD, especially in China. BYD also sold more fully electric cars in Europe than Tesla for the first time ever in April.
There are also suggestions that high-profile political activity in the US from CEO Elon Musk has also kept potential Tesla buyers away.
"Tesla sales down 13.5% in Q2" was originally created and published by Just Auto, a GlobalData owned brand.
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MARKET TRENDS & DRIVERS Surging Prominence of United States ManufacturingThrough decades of technological leadership, access to critical resources, and early industrial maturity, the U.S. built a substantial advantage in precision manufacturing and industrial tooling. However, changing global economic dynamics, competitive manufacturing environments in Asia, and evolving domestic market demands have begun reshaping the U.S. power tool accessories market landscape. In response to tariff volatility on imports from China and Southeast Asia, especially during the U.S.-China trade war; several U.S.-based power tool accessory manufacturers have begun relocating production back to the United States or nearby countries in North and Southern U.S. states have emerged as preferred destinations due to available industrial infrastructure, government incentives, and proximity to core construction and automotive markets. 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Heavy investment in e-commerce portals and online marketing improves accessibility to power tool accessories, with smart tools, tutorials, and promotions driving consumer engagement and sales, especially in densely populated areas. Moreover, in southern states like Georgia, North Carolina, and Alabama, manufacturers are introducing financial initiatives such as leasing, zero-percent financing, and trade-in programs to help contractors and dealers access premium accessories with less upfront cost. Companies like Husqvarna and Hilti support dealers with equipment loans, enabling contractors to upgrade regularly and boosting sales through ongoing accessory centers in states like California, New York, and Illinois have embraced manufacturer-led referral and loyalty programs to expand their customer base for power tool accessories. 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Additionally, the growing influx of imported, lower-cost accessories from Asian manufacturers is contributing to price erosion and quality perception challenges in the mid-tier segment. Also, the commoditization risk is particularly pronounced in accessory types with minimal differentiation or brand loyalty, which has forced premium players such as Milwaukee, Bosch, and DeWalt to consistently innovate with features like impact-rated accessories, carbide-tipped blades, and precision-ground bits to justify premium pricing and preserve their professional customer brands in the U.S. power tool accessories market are increasingly integrating their accessory products within broader battery platforms and smart-enabled tool systems. For instance, DeWalt's ToughSystem 2.0 and Milwaukee's PACKOUT modular storage systems now feature custom insert trays and accessory bundles, enhancing convenience and cross-selling opportunities at both retail outlets and online stores. Furthermore, retail dynamics in the U.S. power tool accessories market are heavily influenced by exclusive retail partnerships and omnichannel sales strategies. Milwaukee Tool's exclusivity with Home Depot, Diablo's exclusivity with Home Depot, and Kobalt's exclusivity with Lowe's enable these brands to secure dedicated shelf space, promotional support, and consistent consumer exposure in targeted retail Company Profiles Stanley Black & Decker Robert Bosch Milwaukee Tool Makita U.S.A., Inc AIMCO Oregon Tool, Inc. Emerson Electric Co Ridgid SKIL Craftsman Snap-on Incorporated Other Prominent Company Profiles Diablo Tools Ryobi Dewalt Dremel Chicago Pneumatic Matco Tools Cornwell Quality Tools Senco Brands, Inc Paslode Chervon Holdings Limited FEIN Power Tools, Inc FERM Festool GmbH Dynabrade Inc Husqvarna Group Atlas Copco Ingersoll Rand Metabo Proxxon Worx Key Attributes: Report Attribute Details No. of Pages 139 Forecast Period 2024 - 2030 Estimated Market Value (USD) in 2024 $3.3 Billion Forecasted Market Value (USD) by 2030 $5 Billion Compound Annual Growth Rate 7.1% Regions Covered United States Key Topics Covered: 1. Scope & Coverage Market Definition Inclusions Exclusions Market Estimation Caveats Market Size & Forecast Periods Historic Period: 2021-2023 Base Year: 2024 Forecast Period: 2025-2030 Market Size (2021-2030) Revenue Market Segments Market Segmentation by Operations Type Market Segmentation by Accessory Types Market Segmentation by End-users Market Segmentation by Industrial End-users Market Segmentation by Distribution Channel 2. Opportunity Pockets3. Introduction Key Drivers of the 2024 Market Surge Key Technological Shifts in the U.S. Power Tool Accessories Market Impact of the Ongoing Tariff War 4. Market Opportunities & Trends Surging Prominence of United States Manufacturing. Integration of Industry 4.0 & Smart Precision Manufacturing in the U.S. Rising Adoption of Eco-Friendly and Recycled Materials in Accessory Manufacturing Growing Emphasis on Safety and Compliance. 5. Market Growth Enablers Surge in Construction Activities Driving Accessory Demand in Key States. Increasing Demand from the Woodworking Industry Rise in Initiatives in Manufacturer-Led Programs Favorable Government Policies and Incentives. 6. Market Restraints Fluctuations in Raw Material Pricing Consumer Privacy Concerns in the U.S. Power Tool Accessories Market High Competition & Price Sensitivity in the Market Diversified and Versatile End-user Requirements 7. Market Landscape Five Forces Analysis 8. Operations Type Covered: (Market Size & Forecast: 2021-2030) Cutting Drilling Fastening Routing and Planning Others 9. Accessory Types Covered: (Market Size & Forecast: 2021-2030) Drill Bits Circular Saw Blades Batteries Screwdriver Bits Reciprocating Saw Blades Jigsaw Blades Band Saw Blades Abrasive Wheels Router Bits Others 10. End-users Covered: (Market Size & Forecast: 2021-2030) Industrial Commercial Residential 11. Industrial End-users Covered: (Market Size & Forecast: 2021-2030) Energy Construction Aerospace Automotive Electronics Shipbuilding Others 12. Distribution Channel Covered: (Market Size & Forecast: 2021-2030) Offline Online 13. Geography (Market Size & Forecast: 2021-2030) 14. Competitive Landscape Competitive Overview Key Developments 15. Key Company Profiles 16. Other Prominent Company Profiles 17. Report Summary Key Takeaways Strategic Recommendations For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment U.S. Power Tool Accessories Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
