Steering has gone out twice on a family member’s Model Y. N=1 example but plenty of other companies now make EVs and they do a decent job of it… shedding 29% still leaves the company at an astronomical valuation, ~100bn larger market cap than Toyota.
Tesla stock drops 29% in first quarter as global dominance wanes
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Re: Tesla stock drops 29% in first quarter as global dominance wanes
#12It’s fairly easy to point at things that have annoyed customers that they call features, like missing wheel stalks and poor autowipers
The CEO too. I know a few people who refuse to buy a Tesla because of him.
People buy Volskwagen, Porsche, Ford or Renault cars without thinking about the actions of the previous people attached to the manufacturer.
Re: Tesla stock drops 29% in first quarter as global dominance wanes
#13The company is so far ahead that it doesn't matter as long as they can keep executing on their plans. Not a popular opinion right now because of the Musk hate, but Tesla is not like other companies and Elon is not like other CEO's.
Re: Tesla stock drops 29% in first quarter as global dominance wanes
#14> Xiaomi CEO Lei Jun said the standard version of the SU7 will sell for the equivalent of $30,408 in China, a price he acknowledged would mean the company is losing money on each sale Isn't dumping banned by the WTO?
"Since 11 December 2019, the Appellate Body is no longer able to deliver binding resolutions of trade disputes. Nor can it guarantee the right to appellate review. New appointments to the WTO's Appellate Body are blocked."
This is due to the US blocking appointments to the Appellate Body. Basically the US does not want WTO rules to be binding, and want to be able to invoke national security to override any WTO rule without having this permit any kind of trade measures in response.
Edit: I don't think this is necessarily terrible. The MFN rule is a problem for countries that form close associations in trade blocks, like the EU, so its destruction is probably good.
Re: Tesla stock drops 29% in first quarter as global dominance wanes
#15I still have never understood the valuations. Sure, they'd make sense if Tesla ended up being the only game in town, forever. But even though they undoubtedly have been streets ahead in many places for a long time and Western manufacturers have been caught on the back foot, the Asian players are snapping at their heels, and (some of) the Western brands are slowly waking up. And even if they weren't, I don't see how T…
Tesla is a Schrodinger, depending on the narrative needed:
They're David going against the Goliath of "the dinosaurs", "legacy auto".
And then their fans like to remind people of their (IMHO laughable) Goliath market cap. You know, the market cap that says Tesla is worth more than: Toyota, Volkwagen Group, Hyundai/Kia, General Motors, Ford, Nissan, Honda, Fiat Chrysler, Renault, Suzuki, Daimler, BMW, Mazda and Mitsubishi. COMBINED. But wait, there's more, also worth more than all of these AND several Chinese manufacturers: SAID, Geely, Changan, Dongfeng.
Re: Tesla stock drops 29% in first quarter as global dominance wanes
#16> Xiaomi CEO Lei Jun said the standard version of the SU7 will sell for the equivalent of $30,408 in China, a price he acknowledged would mean the company is losing money on each sale Isn't dumping banned by the WTO?
Many US companies are also losing money on EV sales. I think dumping is more specific than just losing money you have to be selling in foreign markets for lower prices than you charge locally. “Ford is losing money on each EV it sells” https://www.npr.org/2023/08/11/1193083777/ford-electric-vehi...
Indeed:
> Dumping is, in general, a situation of international price discrimination, where the price of a product when sold in the importing country is less than the price of that product in the market of the exporting country.
-- https://www.wto.org/english/tratop_e/adp_e/adp_info_e.htm#:~....
Re: Tesla stock drops 29% in first quarter as global dominance wanes
#17It's just a matter of time. China is making ev like android phones. Other countries are also catching up. The high profit margin of Tesla cannot last forever
Re: Tesla stock drops 29% in first quarter as global dominance wanes
#18The company is so far ahead that it doesn't matter as long as they can keep executing on their plans. Not a popular opinion right now because of the Musk hate, but Tesla is not like other companies and Elon is not like other CEO's.
They are not far ahead. We’ve seen peak Tesla, competitors are catching up fast.
Re: Tesla stock drops 29% in first quarter as global dominance wanes
#19Earlier quoted context omitted.
Many US companies are also losing money on EV sales. I think dumping is more specific than just losing money you have to be selling in foreign markets for lower prices than you charge locally. “Ford is losing money on each EV it sells” https://www.npr.org/2023/08/11/1193083777/ford-electric-vehi...
Indeed: > Dumping is, in general, a situation of international price discrimination, where the price of a product when sold in the importing country is less than the price of that product in the market of the exporting country. -- https://www.wto.org/english/tratop_e/adp_e/adp_info_e.htm#:~... .
Sorry edited that a few times, thanks for the link.
Re: Tesla stock drops 29% in first quarter as global dominance wanes
#20I still have never understood the valuations. Sure, they'd make sense if Tesla ended up being the only game in town, forever. But even though they undoubtedly have been streets ahead in many places for a long time and Western manufacturers have been caught on the back foot, the Asian players are snapping at their heels, and (some of) the Western brands are slowly waking up. And even if they weren't, I don't see how T…
With the recent NACS deals they have basically also become the charging network of choice in North America, which is certainly worth something.