Rule5: we should use the original titles. As clickbaity as this original title is, I’m keeping it.
That being said, its an interesting analysis to the headwinds of Tesla moving into 2024. As yall may know: Tesla was forced to drop prices more than almost every car manufacturer out there. Cybertruck is seemingly a dud (lots of people canceling orders, poor performance in practice, etc. etc.) and Elon’s reputation continues to tank as he tweets more-and-more on Twitter.
Tesla were, for a long time, so far ahead of the game with EV tech they were practically the only option.
Now, they’re being squeezed at the top end by the likes of Rivian, Lucid, as well as more traditional manufacturers like BMW and Mercedes, while at the lower end of the market, Geely, BYD, great wall etc are going in hard for the value options. Plus Polestar somewhere in the middle.
It’s an increasingly competitive market, and while they still have an edge in terms of technology, as well as their own charging network, that’s becoming less and less relevant as time goes on.
That and they aggressively hid how bad their products are. To save shareholders, they concocted reasons to deny legitimate warranties. I hope the news of this and the lawsuits tanks them. They are anticompetitive trash.
I doubt they will fold completely, but they won’t be anywhere near as profitable going forward.