Tesla’s value plunged nearly $200 billion since mid-July – and the EV maker faces a bumpy road ahead::Tesla shares closed Tuesday at just over $233, well down on their 2023 peak of $291.
Tesla’s value plunged nearly $200 billion since mid-July – and the EV maker faces a bumpy road ahead::Tesla shares closed Tuesday at just over $233, well down on their 2023 peak of $291.
But Telsa’s market share has dropped from 79% to 62.4% in 2 years.
Things are changing fast.
No company will maintain this kind of market share forever. Over 60% ist still impressive and shows how pathetic the EV efforts of the incumbents have been so far.
key words being “so far”, Tesla is going to be blown the fuck out of water by what traditional Automakers are starting to offer.
I’m sure too that there are a lot of prospective EV buyers that are waiting on the sidelines until a more reputable brand has something they like. (I’m one of these people.)
This is exactly right, the big traditional auto makers were watching tesla,using them as a research experiment, and now are starting to build out their own EVs. Once it becomes viable for these automakers to produce many modules we will see lots of competition in the market, tesla will be completely overrun. There’s no way tesla can keep up with production powerhouses like Ford, and Toyota.
Honestly, as long as Tesla maintains its supercharger network, it will continue to blow its competition out of the water. I say this as someone who got a Korean EV instead of a Tesla.
Electrify America DCFC stations have been slipping in quality quite noticeably, just in the past year. EVgo is still catching up in the DCFC world, with a lot more slow 50 kW cabinets than genuinely fast 150+ kW chargers. Non-Tesla cars using the supercharger Magic Dock often aren’t charging as fast as a Tesla, likely due to the difference in electronics.
I think you have to be the sort of person who doesn’t mind tinkering a bit and putting in planning and effort to thrive in a non-Tesla, unless you simply never plan to road trip far enough to need DC fast charging.
So a lemmy user will probably be fine. The general public might do better with a Tesla for now.
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All the other majoe manufacturers sell way more vehicles than Tesla, and are rapidly pivoting to the electric market. Tesla is pretty fucked.
https://www.google.com/amp/s/www.cnbc.com/amp/2023/06/15/teslas-us-electric-vehicle-market-share-could-drop-to-18percent-by-2026.html
They have big problems. They are way overvalued, and other manufacturers are catching up who are geared for higher levels of mass production. And once the share price starts falling there’s the risk that it can cause a feedback loop.