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Not sure how it will affect things going forward, but the Model 3 may help. Jay Leno did an excellent segment about it a few weeks back, with a pair of Tesla engineers: https://youtu.be/WLMalLy_3JU
To me this looks more like "unsurprising". Tesla has some additional business lines which might eventually prove quite valuable, but in the short to medium term it is mostly a car company. The whole car industry is dealing with the results of higher interest rates. It would be much more surprising if Tesla somehow turned out to be immune to that.
Interest rates and vehicle prices too high, must come down to expand TAM. Future benchmark rate cuts should improve affordability (most people finance and buy a payment), but Tesla will need to navigate burn rate until central bank pivots.
FWIW they had some insane discounts toward the end of March, to the extent that I'm not sure high prices is the problem. I bought a new long-range AWD Model Y myself a couple weeks ago because between the discounts and tax credits I ended up paying under $40k (would've been around $36k but even after sales tax and fees and stuff it was still only around $39k). At those prices I'm not sure how they aren't selling more…
A CEO that doesn't take responsibility is a major issue. Unfortunately shareholders will have to punish him.
Interest rates and vehicle prices too high, must come down to expand TAM. Future benchmark rate cuts should improve affordability (most people finance and buy a payment), but Tesla will need to navigate burn rate until central bank pivots.
FWIW they had some insane discounts toward the end of March, to the extent that I'm not sure high prices is the problem. I bought a new long-range AWD Model Y myself a couple weeks ago because between the discounts and tax credits I ended up paying under $40k (would've been around $36k but even after sales tax and fees and stuff it was still only around $39k). At those prices I'm not sure how they aren't selling more…
I cannot imagine paying $40K for a car, and I'm sure there are millions like me. You may be optimistic on what you think the average person can afford.
Maybe we're getting to saturation in early adopter market? Looking around, there are a lot of folks who could not easily live with a BEV, i.e. live in apartment buildings or don't have an easy way to install L2 charging at home.
Before I purchased I thought I'd need to pay for a L2 charger and hire an electrician to install a 240v circuit in the driveway. Turned it that I just needed a short 10ga extension cord from an existing 120v receptacle.
Our household have a second ICE for longer trips.
I live in a house though, not an apartment.
Earlier quoted context omitted.
I shared this in my other comment, but there is some support for that notion: https://www.reuters.com/business/autos-transportation/would-...
great article. i have a tesla -- it is a great car. i regret that elon is such an awful person and i will definitely look elsewhere before buying another. at least as long as he's involved.
i hope elon's behavior is part of the drop in demand. i'm afraid it is mostly economic though.
Or the reality that there is lot more options so people gravitate towards them. And brand loyalty might also be a thing, of which there is lot for also other brands.
Tesla still has some advance in terms of autopilot (in the US), but for all other things, it's an electric car with a great software but a rather low-quality hardware finish if to compare with other brands like Mercedes.
So trying to establish how to attribute this to: - World wide supply issues (Red Sea) - TSLA specific issues (Strikes, Pay Dispute) - Overall demand for EVs - to this factor, any good benchmarks out there to establish demand?
it will take time though
in ten years there will be vastly more EVs than today
ICE is still on the way out