The preverbal nail in the coffin will be hammered down on legacy auto much soon than later.
Sales are booming for Tesla and there's nothing in the way to stop them!
In 2022 Tesla dominated EV manufacturers in sales and profit worldwide, and took away major market share from legacy auto GM, Ford, Toyota, Honda, etc. It was basically no contest, and that was when the prices for the Tesla Model 3 and Tesla Model Y were at their highest point most of the year.
“Tesla has overtaken Toyota, becoming the brand with Australia’s most popular sedan, as the Model 3 electric car outsold the veteran Camry for the first time in 2022. Also In 2022, Australians bought a total of 33,410 electric vehicles, according to FCAI data. Of those, 19,594 wore Tesla badges.”
No mercy for Legacy Auto - Tesla pours it on!
A very rude awakening is taking place in the minds of legacy auto executives. The writing is on the wall, Tesla has come to not only to win, but to win big - very big.
Tesla has lowered prices drastically for all their EVs and that's going to allow Tesla to take even more market share away for GM, Ford, Toyota and the rest of the legacy auto manufacturers
“Dan Ives said: Wedbush surveyed more than 500 consumers in China who were expecting to buy an electric vehicle this year, and found that 76% of those surveyed said they’d prefer to buy electric vehicles... nearly 70% of those surveyed said they were positively influenced to buy Tesla because of the recent price cut”
If that wasn't bad enough for legacy auto, this year the Inflation Reduction Act (IRA) will lower the Tesla Model 3 and the Tesla Model Y another $7,500. You know what they say: When it rains it pours... Well with Tesla lowering prices and the IRA taken effect this year, legacy auto is getting ponded.
Tesla is about to go vertical
Here's a very good video describing how lowering prices to new levels with existing EVs, and with a new mass-market EV offering under $25K, Tesla sales will skyrocket.
You can see more of Tesla focused videos at: Farzad Mesbahi @farzyness
Tesla is bringing out the big guns
“Dan Ives said: We believe that all these price cuts could increase demand/distribution by 12%-15% globally in 2023 and show that Tesla and Musk are going ‘aggressively’ to drive demand in a soft backdrop,” “It’s a clear shot across the bow at European automakers and the American giants (GM and Ford) that Tesla is not going to play well with an EV price war in the sandbox.”
Tesla will no doubt continue their "kicking ass and taking no names" EV battle this year... I guess we can safely say: For whom the bell tolls... it tolls for legacy auto!
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