Analysis: Mounting Competition in China Comes at a Bad Time for Tesla

More of Tesla’s Chinese rivals are catching up in the sales race just as the U.S. electric-vehicle (EV) maker finds itself in a lull between product launches.

Tesla’s enviable sales growth is set to slow this year as it remains more than a year away from launching the next generation of models that it is counting on to drive a new wave of growth.

Despite making history when its Model Y SUV passed Toyota Motor Corp.’s conventionally powered RAV4 as the world’s best-selling car in 2023, Tesla Inc.’s latest financials show it is struggling to maintain the high profitability that has kept investors’ mouths watering.