Tesla is definitely dying unless they can turn this around quickly.
Surplus capacity is expensive, and I bet they are already operating at a loss. And turning around a bad reputation is hard.
Their models are dated, the cheap Tesla is cancelled, the Cybertruck is a catastrophic fiasco, and the model Y has already lost a lot of popularity, so even a new mode already said to be mostly a facelift, is unlikely to make a huge difference.
The drop in sales in January in EU is 50%, and they are losing market share in China and USA too. So I think the actual drop is higher now than 8%.
Note that for Nissan a 5% drop last year was called catastrophic!! And their survival is also questioned, and they are way bigger than Tesla.
Plus of course people are more likely to be trying to buy used cars (of any brand) or not buying any cars at all given the current economic situation. Which of course is also elon’s fault, at least partly.
Good point, the article states a Tesla that only had 10k miles on it, had dropped in value by about 40%!!
With such low mileage cars on the used market so cheap, Tesla will absolutely be competing against their own used cars.
Tesla is definitely dying unless they can turn this around quickly.
Surplus capacity is expensive, and I bet they are already operating at a loss. And turning around a bad reputation is hard.
Their models are dated, the cheap Tesla is cancelled, the Cybertruck is a catastrophic fiasco, and the model Y has already lost a lot of popularity, so even a new mode already said to be mostly a facelift, is unlikely to make a huge difference.
The drop in sales in January in EU is 50%, and they are losing market share in China and USA too. So I think the actual drop is higher now than 8%.
Note that for Nissan a 5% drop last year was called catastrophic!! And their survival is also questioned, and they are way bigger than Tesla.
To your list add that new Tesla sales are also competing against an increasing number of Tesla owners who now want to divest themselves of the brand.
More used Teslas on the market will only push down the market rates and thus profits of new Teslas even further.
Plus of course people are more likely to be trying to buy used cars (of any brand) or not buying any cars at all given the current economic situation. Which of course is also elon’s fault, at least partly.
Good point, the article states a Tesla that only had 10k miles on it, had dropped in value by about 40%!!
With such low mileage cars on the used market so cheap, Tesla will absolutely be competing against their own used cars.