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Tesla's dominance fades as EV adoption grows
Axios -- April 5, 2023
Electric vehicles (EVs) accounted for 7% of new vehicle registrations in the U.S. in January, up from 4.1% in January 2022 — another sign that the EV transition is gaining momentum.
As the overall EV pie grows, Tesla's market share continues to shrink.
At the end of 2022, there were 47 electric models available for sale in the U.S., up from 33 the prior year.
The latest data shows that Tesla continues to dominate, but its market share is shrinking as competitors roll out new models.
Since January 2022, for example, Tesla's share of the EV market fell from 72% to 54% — and it will likely slide below 50% in the next month or two, says Tom Libby, associate director of industry analysis at S&P Global Mobility.
Tesla's Model S sedan, in particular, has been struggling. Registrations for the S plummeted 75% in January 2023, while those of Mercedes-Benz's new EQS sedan quadrupled.
Tesla's Model Y and Model 3 hold the largest market share and are still growing, but rival cars are quickly gaining ground.
Less than 1% of the 279 million cars and light trucks on American roads are electric.
Even in California, the country's leading EV market, they represent just 2.6% of all registered automobiles.
It will take a couple of decades for the slow transition from gasoline to electric vehicles to be complete.
Tesla sues Chinese firm over tech secret infringement
They desperately need them.
They're facing a growing number of investigations and lawsuits, several of which could result in massive fines, some even criminal charges. https://is.gd/Rb0HPd
Many more have already resulted in costly awards.
In April, a federal jury awarded a former Tesla employee $3.2 million for racial abuse he suffered.
Autopilot trial begins mid-September.
Another Autopilot trial begins in October.
NHTSA is investigatiing.
Department of Justice is investigating.
California Attorney General is investigating.
Range inflation lawsuit filed August 2, 2023.
Class actions up the wazoo.
etc.
etc.
etc.
Did you go away with your best friend bashybear for the long weekend?
Was he able to drill some investing tips into your thick 💀?
Basic things like, NEVER EVER TRUST ANYTHING A PINKY CEO SAYS WITHOUT VERIFIABLE INDEPENDENT PROOF.
FYI honest pinky stocks are harder to find than a needle in a haystack.
Usually when you dig around, you find a scammer hiding inside.
YOU'RE CORRECT (for once).
How's that strategy workin' out for ya?
Rich yet?
I had written that in my post but deleted it, because you can't talk sense with a moron.
NO ONE SHORTS A DEAD .0004 POS.
Many investors refuse to admit when they've bet on a loser, even when it's glaringly obvious to those who don't have a horse in the race.
Sooner or later (it's always later - after it's too late) they've got to remove their rose-colored glasses and face reality.
SHRK bagholders were adamant about it being a great investment...right up until it was revoked.
Regardless of your cost-basis, the FACT remains that your shares are worth much less today than year ago.
All because of a tyrant's desire to host a platform where racists, neo-Nazis, anti-Semitics, homophobes etc. are free to spread their hatred.
Which perfectly aligns with all the racism, harassment and mistreatment of employees that occurred (is still occurring?) at his businesses.
It's a pity, but many investors don't care about a company's values so long as they can make a buck.
They've already buried their heads in the sand to forget about the kamikaze software.
If Tesla were found to be dumping tons of spent batteries into the ocean, that would be just fine with shareholders so long as it added to the bottom line (because the bottom of the ocean is out of sight).
Tesla's been at it for 19 years, they should be the leader with highest margins.
Yet with all that experience they've manage to turn out one of the most-hated trucks ever made.
Competition is catching up fast and Tesla keeps losing market share.
Only a fool or someone wealthy would pay the preposterous markup.
Greedy dealers can ask what they want, doesn't mean they'll be successful in getting it.
Fuglytruck is WAY above its original $40k price.
We not interested in your investing strategy or failures.
Is that the best you can come up with?
No one's complaining about a year after purchase.
They're complaining about losing twenty thousand dollars ONE DAY after buying.
Tell that to all the furious owners who bought just before prices were slashed.
Tesla's price strategy is not defensible is more accurate.
Name the "inferior" cars at "much higher" prices, will ya.
I haven't heard of vehicles from any other brand killing and injuring their occupants by driving themselves into parked emergency vehicles.
If you have, name them - I want to read about it.
The National Highway Traffic Safety Administration, or NHTSA, is investigating 16 crashes involving Teslas in Autopilot mode and emergency vehicles from coast to coast dating back to 2018, that have resulted in at least 15 injuries and one death.
Stop telling us how safe Teslas are when they appear to be the only kamikaze cars on the market in the entire world.
Tesla's next Autopilot trial begins this month.
Another Autopilot trial begins next month.
The damage awards, as well as the harm to Tesla's reputation if they lose, could both be massive.
Any agreement Tesla makes with the DOJ after their investigation concludes could be much bigger, and could include criminal charges.
Tesla could be ordered to disable some or all self-driving capabilities, and will undoubtedly be forced to change Autopilot's name.
Lousy time to be a Tesla investor.
Tesla owners who bought right before price cuts are pissed — and are letting Elmo know: ‘I feel completely duped’
When Tesla slashes prices, as it did this week, shoppers looking for electric vehicles generally benefit. But for anyone who buys a Tesla right before such price cuts, the frustration can be acute. Waiting just a little longer to buy, after all, could have saved them a significant amount of money—but they had no way of knowing.
A risk for Elon Musk’s carmaker, which has repeatedly cut prices on its high-end models this year, is that existing customers will feel resentment—not to mention see their vehicle lose value—while some shoppers hesitate to buy because another price cut might be right around the corner.
After the carmaker made its latest price cuts on Thursday, new Tesla owners vented their frustration on social media, often addressing Musk in posts on X (formerly Twitter), the social network he owns.
One tweet posted on Friday reads: “Tesla screws with people so much when they drop price by $20k+. I just picked up my Model S Plaid one day ago, drove less than 100 miles on it and I’m shafted by over $20k. TESLA NEVER AGAIN.”
That followed Tesla dramatically dropping the price—by about $18,500—of the Plaid versions of its Model X SUV and Model S sedan. The carmaker also made significant price cuts across the rest of its X and S range. Shoppers can now get a Model S for a base price of $74,990 and a Model X for $79,990—that’s $3,500 and $8,500 less, respectively, than earlier in the week. What’s more, the carmaker decided to no longer charge extra for certain paint colors.
So a customer who on Monday bought a Plaid version of either model with a paint color costing extra was in all likelihood fuming by Friday—or will be soon when they learn of the reductions.
Also frustrated are those who bought either model at the beginning of the year. Then, a Model S started at $104,990 and an X at $120,990. Such customers are now seeing the same cars sell for $30,000 and $41,000 less, respectively.
Anyone looking to sell a used Tesla is likely feeling agitated by the price cuts, too, of course.
Some customers have called upon Musk to give them something of value to make up for the frustration. One tweet posted Friday and addressed to the billionaire CEO reads: “Thanks to the price cuts, my Model S with less than 2k miles is worth $25k less than I paid for it earlier this year, and the Plaid is only $6k more. At least release the track/power upgrade so I don’t feel like this was all a complete rip-off!”
Another customer asked Musk, referring to Enhance Autopilot, “Can Model S&X owners who pick up within a week of the price cut get a free EAP upgrade? Would really love to be able to change lanes without disengaging AP.” That customer claimed to have purchased a Model S earlier this week and wrote: “How could you do this to your loyal customers.”
Another post also addressed to Musk reads: “I should get free supercharging for life after paying the full 2022 price for model X Plaid and now you drop the price 30%?!?!?”
Another customer wrote: “I feel completely duped. I just purchased a model S LR for $90,000 60 days ago, now the plaid is cheaper than what I paid for. I could of got FSD and the long range for cheaper. Value of my asset dropped 20k.”
Yet this is hardly the first time Tesla owners have felt “duped” by falling prices. In January, customers made similar complaints after dramatic price cuts then. One self-described “Tesla fan girl” told Bloomberg after price cuts to the Model Y, which she had just bought: “I feel like I got duped. I feel like a got taken advantage of as a consumer. Right off the bat, I’m out $13,306. It’s such a large reduction that it’s going to affect a lot of people who just bought a vehicle.”
Tesla also cut the price of its Full Self-Driving (FSD) software from $15,000 to $12,000 this week. In 2019, Musk suggested that customers buying a Tesla with FSD were “buying an appreciating asset” thanks to the feature. He tweeted, “If we make all cars with FSD package self-driving, as planned, any such Tesla should be worth $100k to $200k, as utility increases from ~12 hours/week to ~60 hours/week.”
Tesla owners who bought their Model X or S earlier this week, or earlier this year, couldn’t be blamed for doubting that.
https://is.gd/eZloPk
I'm acting like someone who has no clue WTF you're talking about.
I never mentioned crypto - you did.
This is not a crypto stock or even a crypto scam.
I don't even like typing crypto.
Are you befuddled? This is SBES - South Beach Spirits.
It's a fraudulent, worthless con run by a bitter old man who told investors to F OFF.
Simpletons took that as a reassuring sign of progress, because - isn't that what all respectable CEOs do?
You must be lost.
🎶 They're playing your song 🎵
OLD NEWS - AS ALWAYS!
Already posted.
Tesla FSD Beta tried to kill me last night
Author: Fred Lambert -- Sep. 1, 2023
What are you even talking about?
Who said anything about crypto?
I thought this was an Rx merger scam?
Stinky-pinky value is driven by hope and hype and wishes, not cash flow, revenue, OS etc.
I wouldn't invest in ANY stock if the owner told shareholders to F OFF, like Suren did.
Does this look like a valid "use case" or bona fide evidence of an impending merger?
Not picking 🍒
That implies they're still hanging from the 🌳
Tesla has fallen and is now rotting on the ground, feeding the worms.
You repeat that on every ihub board.
You are a useless waste of oxygen.
You think she's dumb?
You're the sucker who bought this scam, not her.
Hong Kong vertical farming - and they had to buy a US shell to scrape together enough HK$ to do it. 😂
Why didn't Digital Technology Co., Ltd. build it themselves?
You bought that, wanna buy my bridge? 🌉
I'm jealous: I thought "Ihub basher clown troll " was your affectionate pet name for me.
But you call everyone that. 😭
So I'll just accept that you're incapable of thinking up original pet names for the ihubbers you love most.
Except for "bashybear" - you seem to have a special fondness for him. 😘
Is scummybear too much to ask?