Tesla's value plunged nearly $200 billion since mid-July – and the EV maker faces a bumpy road ahead
(finance.yahoo.com)
from L4s@lemmy.world to technology@lemmy.world on 23 Aug 2023 22:00
https://lemmy.world/post/3715363
from L4s@lemmy.world to technology@lemmy.world on 23 Aug 2023 22:00
https://lemmy.world/post/3715363
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.
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Maybe the investors should all vote on kicking Elon out of the company.
Setting aside anything related to Musk, Tesla really doesn’t seem to be staying competitive.
Cybertruck (and the “indestructible” window press conference) is probably the easiest example. Years of attempted hype that haven’t paid off in a meaningful manner, while rivals have been releasing in-class competition. Anyone can see that’s a problem.
Tesla cars used to be pretty revolutionary, now they’re in an entirely different era that’s filling with exciting EV alternatives around every corner. Yet Tesla style still looks the same. The shoddy construction is still around and becoming more widespread knowledge. They’re failing to attract their target audience due to a long series of missteps. More problems.
Not to mention that Tesla was downright overpriced at its height. It’s a fraction of the volume yet made other automaker valuations look minuscule. The logic for that was never there.
While I agree Cybertruck may have jumped the shark, I recently noticed …. After years of GM saying cylindrical batteries are not practical and pouch batteries are the only way to go, and Ultium is more advanced than anything Tesla has …. They’re redesigning EV models early to switch to cylindrical batteries like Tesla
The only reason GM (and others) tried to tout pouch cells is because there was a complete lack of cylindrical production capacity available. Tesla was using it all.
What are you going to do, say we’d rather use these other batteries but we can’t, so here you go?
I am ecstatic that most of the major manufactures have finally decided to transition to prismatic and/or cylindrical.
I wouldn’t even be surprised if regulations one day prevent use of pouch cells for automotive purposes.
Besides Musk…it’s the fact they are still using the same design from 10+ years ago. When I see a tesla, I can’t tell the difference between the S & 3 or the X & Y. They made one car and scaled it in their software. All 4 cars are due for a redesign and they don’t need to all look identical. And they need to figure out how to actually assemble them without being shit.
Not competitive, lol. They sell more EVs than anyone. Almost 1/4 million a quarter.
They have a massive head start, but that will not last.
BYD is not far behind them and VW is closing fast. 2022 EV volumes
Who else has hands free driving on local roads?
Exactly. So many of the naysayers haven’t used fsd first hand, so they don’t know how close they are to solving a huge problem. And no one else is really even trying anymore. Ask a graduating senior in IT or robotics where they dream of working and it’s Tesla.
If you’re using FSD without your hands, you’re not doing what you’re explicitly supposed to be doing.
So basically you’re saying that so many of the naysayers haven’t used FSD the wrong (and dangerous) way.
I’m using drive assist without my feet, I can keep my pinky on the wheel and give it the slightest pressure every few minutes when prompted. This is a God send in stop and go city traffic. I used to have super high stress in traffic every day, now I let the Tesla do all the stop and go braking/keeping distance/keeping center and it’s way less stressful. I know other manufacturers have drive assist but I’ve driven my siblings BMWs Mercedes Maseratis Jaguars Land Rovers and (unless you’ve got a 2024 Mercedes) none of them are as easy to use as Tesla.
I fucking hate Elon musk by the way, and I’m not a Tesla fanboy, they do a lot of anti consumer bullshit I dislike. I just think to over correct and say the cars have nothing better to offer vs competitors is disingenuous
Again, that’s not how you’re supposed to use it.
Again, that still differentiates this company vs any other car. The entire argument we’re having is that they don’t do anything different than anyone else.
Not Tesla, FSD requires hands on at all times while stuff like Supercruise does not.
Supercruise doesn’t work on local roads, drive assist does. I can keep my pinky on the wheel and give it the slightest pressure every few minutes when prompted. This is a God send in stop and go city traffic. I used to have super high stress in traffic every day, now I let the Tesla do all the stop and go braking/keeping distance and it’s way less stressful
In what world does hands free include keeping your hands on the wheel?
In what world does touching your pinky on a wheel ever minute or more qualify has tightly gripping your hands at 9’ and 3’oclock position. I get it you hate elon.me too. I still think the Tesla gives me a driving experience very few if not anyone else can replicate, especially on local roads. No one has been able to dispute me on that besides some dude that quoted the new Mercedes that launched this year. That sounds like Mercedes trying to keep up with tesla, not the reverse
Elon is a douche nozzle, does that make you feel better? Have you ever actually driven a Tesla thru city traffic ?
Hands-free by definition requires no hands. You are using terminology that is incorrect on the internet. Expect to be corrected.
Everything else you replied to me is you being super defensive. I never stated anything else other than what you are taking about is technically not hands-free.
Mercedes for example - and it works better than Tesla’s on shitty roads.
Mercedes for example has two cars that just launched FSD this year. Vs Tesla who has 4 cars that can do autopilot for 3 years or more. Again I’m not trying to say Tesla is the best car, I’m trying to say they have differntiated features that few, if not any companies have had over the years, and yea that does not excuse their CEO from being a total douche.
Mercedes for example has two cars that just launched FSD this year on local roads. Vs Tesla who has 4 cars that can do autopilot for 3 years or more on local roads. Again I’m not trying to say Tesla is the best car, I’m trying to say they have differntiated features that few, if not any companies have had over the years, and yea that does not excuse their CEO from being a total douche.
What exciting EV alternative can I buy right now for the same price as the model 3, that offers everything Tesla does?
Ioniq 5, more expensive, no supercharger network. Mach E, more expensive, no supercharger network (yet). BMW i4, more expensive, no supercharger network. EV6, more expensive, no supercharger network.
I honestly don’t get where people get their information from and just pull shit out of their ass. If you want a new EV with fast charging, you can’t beat a model 3.
Let me add a little bit more context. Tesla can’t even meet their current demand. Currently, no automaker can. They are all battery constrained. Everyone is rushing to build plants and mines, just to scale up. The demand for EVs is there, but no one is building more because the batteries aren’t available.
They went to the stock chart, picked the latest peak, and wrote the article of doom. It’s down 20% a year ago, but up 20% for the last 6 months, and up 119% YTD.
Not that Tesla doesn’t have its ills or seems to be stagnating, but picking points in a chart is a feeble argument.
maybe they should focus on making a decent product instead of manufacturing bs
To put this in perspective, Tesla’s stock price has still more than doubled since the beginning of the year. They’re doing just fine.
The past few weeks have been rough across the market. I suspect the reemergence of COVID has played a factor.
How about since their ATH?
Oh… It’s at a 43% bargain.
52 weeks high? Yep, still a bargain!
Nah, they’re not doing fine.
Apparently not since the big investors are getting out/reducing investment.
Anyone who actually follows the market knows it doesn’t follow logic and doesn’t actually represent the health of the company or the economy.
Such a remarkably overvalued company. I’d be surprised if it’s still around in a few decades. Feels like they’re the MySpace of today - they’re big and have first mover advantage but have nothing interesting down the line and newer companies will and are supplanting it.
Tesla surely benefited from being the first to market with a mass scale luxury EV. But they still have SERIOUS quality control issues. And putting all the controls in a touchscreen is a gimmick that has worn off. The major players were slow to catch up, but when they do get products to market, they are more reliable and easier to use.
Tesla is not improving on core issues fast enough, and it is going to cost them in the not-so-distant future. I think we are seeing it already with Hyundai. They are the new EV darling. And I do blame it on Elon Musk. Dude is spread way too thin, and has become way too dysfunctional and delusional to successfully lead any company.
I think you mean Musk’s dysfunctions and delusions have become too public to successfully “lead” any company.
If anything, Musk spreading himself thin helps the corporations… He’s literally banned from personally tweeting about SpaceX. They have to be approved first. The less he talks about Tesla, or does anything else to it, the better for Tesla.
I drive a Tesla, and I can definitely say they’re very overpriced for what they are. I also hate the association with Musk. But… I’ve driven a few other EVs over the last few months and ffs… the mindnumbingly stupid decisions in their control software is frankly unforgivable. It feels those cars are still designed by and for people who didn’t have internet in their 40s. For example: all of them don’t remember some or all of the driving characteristics I set them to (regen breaking strength for example). It’s idiotic. And they all use some processor that’s out of date even for phones generations back. And that car is supposed to last 10 years??? Why? On the face of it, I don’t particularly like Tesla, but damn the competition is doing everything they can to stay behind, it feels…
I don’t disagree with those statements but I’d wait to see what they put out from the Mexican factory considering the labor cost advantage and manufacturing experience they’ve gained. Beyond that I agree that Korean and Chinese EVs seem more put together and well see if we get more when the us subsidies end.
People have been saying this for years now. This site is something else. Top posts related to climate change while at the same time bashing Tesla, the number one producer of EVs and arguably the reason why all automakers are now making the transition to clean energy. All of this because the CEO is a fucking horrible person. Guess what? Almost every product you have in your home or have ever used came from a company that had a terrible human being as their CEO. Tesla’s sales have been growing each year. They’re building a new plant in Mexico. A few decades? So, 30 years from now? Wow, what a ballsy prediction. /s You could, literally, insert any company’s name in there. If climate change goes as predicted, Tesla being around will be the least of everyone’s worries.
That’s what will really take the comparative stock price of actual automakers into the stratosphere with Tesla you guys, a fucking factory in Mexico. How could Ford or Hyundai match having a factory in Mexico?!
Lol, the last Ford I bought (shit car btw) was built in Mexico. Tell me again why Tesla has 20x the market cap of Ford because it surely ain’t factories in Mexico.
I’m sure they’ll be around, but I don’t get how their market cap was more than every other car company combined.
Did people think they made something other than cars, because even if they were the only car company making sales they still wouldn’t be worth that price.
Elon’s business model was not to be in the car business long term but the your-car-is-also-a-taxi business and reaping the profits of not just selling cars but ride-sharing too. Triple dipping if you count the supercharger stations, basically collecting a fee every time you use your car. I can see the bull run when things are framed from the perspective of magical Christmasland, but there’s a slightly larger than zero but still basically zero percent chance that FSD on Teslas will ever work autonomously and their cars are getting smoked domestically because they have competition now where they didn’t before.
Nothing interesting? They’ve got the Cybertruck!
Not good. But interesting.
Teslas are boring. There are only 4 of them and they all look the same. (And the cybertruck is an abomination, sorry if you’re going to buy one; good luck surviving all the steel balls people will be throwing at you)
Nobody is going to buy a cyber truck because they will never be mass produced
Or legal to sell in many US states of Europe.
Saving your comment so I can get a good laugh when it is released.
Don’t worry Tesla owners, this guy’s better than you and all along knew that he should be buying hummers.
This smugness from basement dwellers is flat out embarassing.
“If you don’t spend tens of thousands of dollars on a luxury car, you’re a smug basement dweller.”
Don’t own a Tesla, probably never will, just recognize the cringey basement dweller behaviour of everyone in here gleefully pretending like Tesla’s are any different just cause they don’t like the owner now. It’s a bunch of hater energy losers dunking on an easy target that’s uncool now. Congrats guys, you did it, you felt superior to others today.
You’re 100% right but don’t expect r/technology to accept it.
I’m not superior to anyone. I just don’t insult people for not owning a car.
I wasn’t, and don’t own and never have owned a car. I was insulting them for being haters which was made apparent by their hater comments.
If you’ve never owned a car, maybe you don’t know whether or not people are right to hate Teslas. Just a thought.
Swing and a miss, sparky. I’ve been driving electric for the last 7 years but have no interest in Tesla for a wide variety of reasons.
Also I literally told you why I don’t like them — there are only 4 of them and they all look the same; do you think maybe the fact that they’ve become so ubiquitous over the last few years and so samey could contribute to changed perceptions of them? What’s new in 2017 is old in 2023.
Just try and be a better person/contributor around here. Smarten up.
Oh noooooo. Thanks for that single issue that’s entirely subjective.
Meanwhile; they provide the best performance for the price, putting exotics 0-60 to shame. Have the best charging infrastructure. Get great range despite the recent hit pieces. And, for some subjective IMO goodness, are super fucking cool. I love the infotainmentcontrolwhatever way they handle things.
But no, they’re just copy/paste pieces of shit. All hail anybody but Elon!
They’re fine cars, they need a refresh is all. You’re reading way too much into this. They’re not copy-paste, they’re ubiquitous and as exciting as a Honda Civic in terms of looks, to me at least. 0-60 time is fun, but so are physical buttons.
You know he’s never going to marry you though, right?
What? I thought you said this WASN’T r/technology?
The only person bringing up Elon Musk is you. The only person offended (apparently) on behalf of Elon Musk is you. Sort yourself out.
I couldn’t give a fuck about Musk. He could die tomorrow and I’d say “Good for him.” What I think is hilarious is the assumption by you and others in these comments that my drive to correct them stems from some love of the ugy.
Sort yourself out.
Says the guy who a.) brings him up in a discussion that wasn’t about him and b.) doesn’t know where he is. Sure.
I see inferring from context isn’t your strong suite.
“I don’t like the cars that much because they’re boring”
You infer —> “You don’t like Elon”
Oh please continue to teach me what I meant by what I said, oh master of inference.
Again, reading comprehension… get some. My original “All hail anybody but Elon!” was aimed generally at the migrated r/technology chuds.
.
Please list them, and don’t bother with panel gaps that are either fixed for free on the spot or not long after.
Somebody better tell this to Rivian and Polstar or, shit, any. other. manufacturer.
Get back to me when that lawsuit is resolved. I will say, I’m supposed to get 333 miles from my Model 3 LR and it’s closer to 280. There is reserve battery past 0% but we shouldn’t count that.
Yes we all saw the article posted here a couple days ago. Curious, did you see the posts about how there are manual releases easily found and if you can’t find them you’re kiiiiiiiind of an idiot?
Sorry, still cool 2 years later
Another sign you’ve bought into the bullshit. Manual controls override all AP/FSD activity and the drivers were at fault of every single crash. Find me a single instance where the driver was found to interrupt the system and it ignored them.
You’re just admitting that you’re doing the polar opposite of sucking Elon’s dick. You’ve proved you’ve bought every single hit piece that came out. Congrats. I’m going to continue enjoying my marvel of engineering.
People really don’t even understand the whole range thing.
All those multitude of real world tests out there that show a Tesla doesn’t get the advertised range aren’t doing the tests as the EPA tests are defined.
Yes, a Tesla doesn’t get the advertised range when you go out of the test specs, shocking.
The EPA says this is how we’re going to test the car. They even say, you can test it doing a partial test suite, or a full test suite. Tesla does the full test suite, while many others don’t. This costs Tesla more money, but does seems to work out to their advantage.
I don’t doubt that Tesla then went, okay lets design the car (set the gear) to get a good range on the test the EPA is going to use so we can advertise a good number. The EPA set the rules.
I can’t recall if it was the EPA or some other testing agency, but Tesla once even rejected their initial rating saying you did the test wrong and made them re-do the test (a door was left ajar or something), and the retest came out to the number Tesla was expecting and wanted to advertise. As per the other article something also went wrong once and the EPA made them lower it by 3%. So problems can go both ways, and both were fixed.
Aside from Porsche who have a multi gear system in their power train, everyone else has to deal with the problem of a single gear not having the same efficiency across all speeds.
There’s only a few other models out there besides Porsche (who’s different) that meet their claims at 70mph+ tests, which means they did one of two things. They either lowered their EPA approved number and advertise a smaller range than they are
capableallowed, or they’re going to be less efficient elsewhere, but do good at high speeds.If you want to perform better at high speeds (70mph+) , you’re going to perform worse somewhere else in a single gear system, but I imagine most people care about the high speeds, and people don’t seem to care about real world 25-35mph tests where cars go well past their advertised range. I don’t really blame them for this, it’s what people care about.
We really need to get the EPA to change their tests and make everyone do the same test, make the test better reflect real world driving scenarios, and probably make them advertise city/highway/high speed eMPG instead of just the single number.
Do you see yourself in this video, or do you lack that level of introspection?
www.youtube.com/watch?v=VpTBQEOb09Y
Here is an alternative Piped link(s): piped.video/watch?v=VpTBQEOb09Y
Piped is a privacy-respecting open-source alternative frontend to YouTube.
I’m open-source, check me out at GitHub.
What a stupid take, but par for the r/technology course.
EDIT: The steel ball thing was terrible optics, granted, but that was also, like, the 5th time that ball was thrown at the window. Bullet-proof glass still spiderwebs when hit. Get over it.
No, they dropped steel balls onto separate glass pulled to the side, which didn’t break, then they decided to hurl steel balls at the prototype they had on stage. It broke the glass, twice. It’s on video, y’know?
Do you even know where you are?
Yep, r/tech… er… c/technology. Same thing.
.
I dont get how this is news. Teslas market cap was already higher than all the other car makers combined while only producing a fraction of the vehicles. Everyone knew that this stock wasnt a value stock. Where is the news
ELON BAD
Yes, but not sarcastically.
Agreed.
“Hur hur, Twitter go brrrrrrrrrrr” - Musk
Where’s my cybertruck already?!?!
The moment those Chinese EV startups enter the US market, Tesla will be in real trouble if they don’t have their product quality image problem fixed by then.
It’ll be like Detroit’s Big 3 automakers tanking when small fuel efficient Japanese cars landed in the 70s oil crisis.
Assuming those Chinese EV companies don’t have their own quality problems…
Chinese EVs absolutely have quality problems, but they are half the price. Tesla’s are sold at luxury prices with third rate QA.
Chinese quality has gone up in the last 20 or so years since they transitioned from poor to industrial country. You can’t cling to the cheap knockoffs you buy on Aliexpress either.
Yeah China has shown they can make good stuff but their safety ratings are still very below par.
Pretty much. They are teslas sold in the price bracket they belong in
So Tesla’s have quality issues I agree with, Elon is an asshole I also agree with. But not all Tesla’s are a Plaid. They start at $35k, the Y at 40k. They are most assuredly not luxury vehicles and I’m not sure why people keep thinking this.
That’s a starter price, not a finisher price. (Apologies to IASIP.)
That’s still not luxury in this market. I priced one myself ended up at 48k. That’s not luxury anymore in this market.
But I digress. I’m not a Tesla lover or anything just saying they’re not luxury cars. I don’t even have an EV yet and don’t want a Tesla.
It’s more than I’d pay, which also doesn’t make them luxury prices.
However, until pretty recently they were much more expensive than they currently are which is why there’s a lagging perception of them being luxury.
It certainly isn’t the quality.
There’s already so many BYDs in Australia.
At $20,000 cheaper, it sure makes a lot of people not care about whatever bells and whistles the Tesla has.
They’re already in the states. Example: Volvo / Polestar
Big difference there. Volvo may be owned by a Chinese company but they’re made in the US and Europe (except the S90) and are designed by Swedish engineers. That’s like called Jaguars and Land Rovers Indian since they’re owned by Tata.
The cars that GP are referring to are entirely designed and built in China.
Tesla is already in trouble.
Hyundai Ioniq 5/6, Kia Ev6.
VW ID line.
Ford F150 Lightning.
Those are the things that will absolutely decimate Tesla’s market share. Known brands that can actually put together cars without basic issues like Panel gaps and paint issues.
Ones that reject the absolutely dangerous and moronic UX of putting everything onto a big screen instead of having physical buttons.
china sucks worse then Tesla. Everything they build is cheap crap that falls apart. Last thing I’d ever do is buy some pos from china
Good, the MAGA car company should lose value.
this is a dumb comment. most maga dicks would never drive an EV they’re too busy rolling coal. yes the spokesperson for Tesla is a piece of human garbage, but the company is more than him. Tesla has been hugely responsible for the much needed transition to EVs. So hate musk, but i think hating Tesla is a mistake.
sounds like someone wasted 70k on the MAGA car.
lolz, no. but I feel my comment is still valid.
I can hate tesla too you know. The car is terrible quality. Just because it is an EV doesn’t excuse it from being shitty
.
It’s good quality until it breaks down.
True of… all things?
not really, plenty of things are shit quality even before they break down.
Also people seem to have not seen or forgotten about the whole thing with Elon Musk specifically falsifying range numbers on his products with shady ass, basically fraudulent math.
You mean for the car industry?
yes
A lot of the problem with Tesla is Musk though, especially when it comes to the whole FSD and Autopilot thing. Tesla is spreading misleading data and releasing software to the public that they really shouldn’t be, and it’s Musk that is pushing for that to happen.
True, musk sucks. like I said. the downvotes are hilarious. guess a lot of the maga trolls followed here from reddit too. the more popular it gets the worse it will become I expect.
I agree that Tesla has done a lot to push us towards a more sustainable future with cars, and unfortunately I have to give Musk some credit for that also. The thing is, I don’t think you can separate Musk and Tesla like you are trying to.
Without Musk there really isn’t a Tesla. Even now they are very tied to him and his way of thinking. Nobody but Musk would ask someone to design the Cyber truck, and nobody but Musk would even call it that, or name the other vehicles so they spell S3XY, or release beta driver assist /self driving software to the public.
I think you can separate them, my comment was responding to the moron calling it the maga car, which is a stupid thing to say. I live in hope musk will eventually be pushed out. he’s quite an awful human.
Engineers used to put easter eggs in all sort of things they develop. From references in naming schemes to hidden comments in code. All of it wasn’t obvious to anyone not in the know. They are nerds living their nerd dreams.
The problem is that it is Elmo’s entire MO to put memes in everything he tells other people to create. He wants to be seen as the memelord. And all of them need to be as obvious as possible so everyone recognizes them, or it would lose its point.
Without Musk, you have 87% of Tesla (when you measure by shares of ownership). I’m surprised other shareholders haven’t tried to fire Musk as CEO.
It’s not just the share percent, it’s the whole company culture, he is the face of Tesla and his crazy thinking and over promising got the company this far. I doubt it would have gotten this far with a more rational and ethical CEO.
He is the ultimate hype man, without him Tesla just wouldn’t have the same pull IMO.
I agree with you that’s he’s a good hype man. But Tesla doesn’t need hype any more; they just need to solidify their lead over the EV market. At some point, hype and headline-grabbing turns from a fundraising asset to a corporate liability.
At a $747B market cap, I’d argue Tesla has definitely crossed that line.
Honestly, if Musk poured himself into a new futurist investment, he’d probably do better than he is doing right now… encumbering America’s biggest EV manufacturer with stock leverages for a social media platform he took off the public market and completely tanked the valuation for is not a good look.
If you had someone honest at the head of Tesla saying realistic stuff like “we won’t have FSD for at least a decade, robotaxis even longer, and it’s going to take more than just the cameras we have” and “due to legal liability concerns we are pulling FSD from the market until it’s ready” , I don’t think you would have nearly that market cap.
Tesla built that market cap off Mr Hypeman, the market cap only begins to make sense if those hype promises are realistic. If Mr Reality takes over Tesla that market cap is going to crash hard, they need Mr Hypeman.
I respectfully disagree that they still need Musk. The man has spent the past two years visibly shirking his own duties as CEO of Tesla while he was busy burning Xwitter down, and his personal brand is getting tarnished daily.
I do agree they need someone a bit more visionary, though. They couldn’t just snatch up the CEO of GM or Ford, but I bet you they could find someone out there who can focus on the future.
If they could find a better liar and hype man than musk, that would be a miracle.
No, pretty much no MAGA fans are here. I think that’s fair self-evident reading popular comments, you’re more likely to run into a fan of Chairman Mao.
This is a very reasonable comment, and yet it’s downvoted heavily.
What Tesla achieved is good, and will have a place in the history of EVs. Musk being a fucking idiot doesn’t change that, it just makes it more obvious that none of the success is due to him he just happens to own the company.
Honestly, tesla would probably do better to fucking fire Musk as CEO. He holds less than 13% of the shares according to a 10-second Google search, so it doesn’t seem like he has unassailable control of the company.
If I were any of the other large shareholders I’d be fighting like hell to get a better CEO. Musk has switched from asset to liability.
same, my hope is they’ll turf him soon and people can less obliged to hate on Tesla again.
thank you for restoring my faith in humans. I really didn’t understand the downvotes tbh.
All g, yeh a lot of that bad behavior from reddit has flowed through to here.
The market is finally correcting itself.
Tesla gets more popular each time the name gets mentioned, their market is now people who buy the cars because they are popular and see them around. Remove their ads, stop giving them visibility, stop fueling the brand
Huh? This article is an example of exactly the opposite thing happening.
Popularity doesn’t mean that they are good just that they are popular. Could you name 2 other brands that make EV cars? I guess not and even if you could the average person couldn’t because Tesla gets all the popularity
Nissan, Rivian, Ford. Off the top of my head, these 3 all have pure EV models.
Most of the major manufacturers have EV or hybrid cars now lol Tesla is falling out of the market. Existing manufacturers have now learned how to do the EV part, meanwhile Tesla never really learned how to do the car part properly.
Tesla is still kind of the iPhone of the manufacturers, its brand has more weight in that regard, however with cars being so expensive people are much more concerned with value for money and long term viability - Tesla is establishing a reputation for being poor in terms of repair and maintenance costs, as well as having worse reliability and not as nice a fit and finish.
Oh just like apple, the biggest company in the world
Apple have decent reliability and stylish fit and finish. If you compare Tesla with the major manufacturers, even if you’re not getting full EV the quality of the vehicle is much better with the other manufacturers.
A phone or computer is a small fraction of the cost of a vehicle, and vehicles have ongoing costs to be considered. When people do this, which happens more often with cars than with small devices, Tesla comes off worse. While Tesla does have a bit of an iPhone persona, that isn’t worth as much in the car market.
So much reliability for the pioneers of “you can’t fix it your own”
Nobody says Apple has poor reliability.
Aside from the butterfly keyboards and their shitty charger cables (which are switching to braided), everything they make is much much more reliable than competitors.
Repairabiliy? Not great. Expensive, yes. Sell you dongles for what used to be standard, yes.
But I’ve only ever had one apple device in 15+ years break: my airpods stopped working and they gave me a new pair on the spot because it was a known manufacturing defect.
Yes because disposable phones and cars are the same category of product, with the exact same expectations of maintenance and longevity in their manufacture. 🙄
This is why I would never buy a car from a “tech” or even a wannabe tech company like Tesla. They want to graft the lowered expectations that you have for consumer grade electronics and free to pay software onto the auto sector where they’ll get lots of people killed or ruin their lives.
I definitely don’t want my car to be more like my junky ass phones, smart TVs, or bug laden “as a service” software. I cannot have to restart my car daily while I’m using it. The same standards just do not apply to cars and I’ll never buy a car from a manufacturer who thinks they should.
It was never worth the stupid value it was pumped up to. Why do you think Elon has been dumping so much of it.
Elon is in the dump part of a pump and dump scheme.
Cause he has less business skills than what he lets to believe.
I’m surprised this isn’t just because of there being more competitors to Tesla like rivian. Tbh though I dislike cars, I just have to use them sadly.
There aren’t any. By volume Tesla is still the biggest EV maker by far. The competition is nowhere close to catching up. If they screw up the launch of the Cybertruck, they’ll really be in trouble, though. Also, the valuation is to a large degree based on the promise of full self driving. That seems to be an increasingly distant prospect, though.
Yeah, but the silly Tech Startup kind of market valuation with the associated crazy P/Es (justified by “we will take over the whole industry” kind of justification) that made them more valueable than all US automakers combined (not just the EV auto-segment, everything) is dissapearing.
Their valuation reflecting the size of their market share (in the entire auto-market, not just EVs which are still a minority of sales) and growth direction (growing mainly due to the EV segment growing and don’t seem to be in line to dominate the whole auto-market as EVs take over) means a massive fall from the fantasy “we’ll take over the world” valuations.
Mind you, it’s happenning more generally in the whole Tech segment as the end of free money which was used in leveraged stock investment is wiping out all the investment strategies based on wild and fantastical claims of “future prospects” and on finding greater suckers.
It’s probably not even a fall due any worst numbers or concrete prospects for Tesla: the collapse of the massive stock price premiums (judging by the P/Es in Tech vs those in the wider market) for “future prospects” in the whole of the Tech industry, would definitelly pull Tesla’s stock price down hard because Elon’s main business “strategy” has always been to frame his ventures as Edgy Tech in order to reap such premiums and he definitelly went hard on it with Tesla.
Looking at Tesla as just a car manufacturer ist short sighted. The energy products also have huge growth potential. And whoever cracks FSD first will basically own the world. I used to be confident that that will be Tesla. But now I’m a lot less optimistic for the sector as a whole.
Good luck with Tesla cracking full self driving without LIDAR.
I believed in Tesla’s FSD until they decided to go visual cameras only. Now I’m convinced they squandered their decade-long lead in the market on a technologically inferior strategy.
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.
I wouldn’t try and argue with people who don’t understand. insideevs.com/…/world-top-ev-oem-sales-2022q4/. Tesla sells more BEV’s than anyone else. Anyone who says Tesla has competition now is completely uniformed or purposely trolling. VW and BYD are the closer ones, globally. In the US, no one comes close.
All the other majoe manufacturers sell way more vehicles than Tesla, and are rapidly pivoting to the electric market. Tesla is pretty fucked.
google.com/…/teslas-us-electric-vehicle-market-sh…
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.
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.)
Same here, my civic is gonna be the last gas vehicle I own. Next car is all electric.
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.
EU says hi with our regulations mandating Tesla to make their chargers inter-operable with other brands.
Gods, I love the EU.
It may not be perfect, and has a lot of improvements to make.
But damn does it actually work for the population instead of the corporations.
I feel like this is inevitable. We don’t have to try and find the station that has the right nozzle to pump gas in a Ford. Likewise, vehicle charging stations should have standard plugs. It just doesn’t make sense the other way around.
I thought I read Tesla’s plug was going to maybe the standard, but maybe I’m misremembering.
The only issue I’ve heard with NACS is that the 800V battery auto makers aren’t convinced it’s as capable as CCS of supporting the higher voltage for that generation of EV battery. Hopefully they work it out soon.
Can you please accept the USA into your pleasant union?
There are, plenty of Chinese EV companies. One in particular sells by volume way more cars than Tesla worldwide. It just doesn’t sell to the US yet.
No Chinese EV company sells more BEV globally than Tesla.
To get the advertised numbers that are higher than Tesla it includes plug in hybrids.
Edit: Until Tesla releases their Gen 3 platform, BYD may pass them in 2024 though.
Hasn’t the F-150 has already preemptively destroyed the Cybertruck? I suppose most people driving pickups don’t actually need a pickup’s functionality. They’re just told they need a pickup so that’s what they buy.
I see more F150 Lightning trucks than I do model 3 cars, and this is in a red state full of people who are scared of electric vehicles.
lol as if that hideous pos truck is going to save them.
I love cars, and I know that goes against what I’m supposed to say here.
Did you ever see James May’s OG Top Gear piece on Honda’s hydrogen car? I think about it a lot. That alternatives to ICE cars is the way to save ICE cars for enthusiasts.
It’s okay to love cars, people have an issue with the Car being the only viable option in many places.
When I lived in Brno, which is at around 450K population in Czechia, I was going there by car, as in I drove from Slovakia to Brno, parked my car and haven’t used it until I was visiting Slovakia again, I only used it when I went for a big shopping to the hypermarket that was at the outskirts of the city.
thoughts and prayers
Amen 🙏
Ramen you mean? Gotta be what you ment…yep def ramen
Ramen
I SAID THOUGHS… AND… PRAYERSSSSS!!
Elon Musk financed about $20bn into the Twitter purchase by selling Tesla stock.
despite the 200b drop in tesla, those 20bn probably still would be worth more than the Twitter stocks he owns now.
Twitter is a money pit circling the drain.
I’m pretty sure that dumpster fire is already part way into the drain but just doesn’t know it yet
Also, let’s not have the government bail musk out this time. Sick of subsidizing this nazi cunts bullshit shit box car brand.
Jeez I can understand not liking a billionaire and their product, but are you okay?
Why do you ask that? Whenever Musk gets mentioned (or any billionaire for that matter) similar words immediately spring to mind. Most people I know also feel this way too. Are YOU ok for not feeling this way?
I guess I’m just out of the loop. The most I know about musk is his ridiculous Twitter changes, naming his child aex12 or some crap like that, and shady EV range stuff. Can definitely see why people are saying he’s scum, but why is he being called a Nazi?
His indifference to the apartheid ontop of bragging about the family’s emerald mine (which hints at his emotional detachment from issues like genocide), reopening a Tesla factory in violation of health orders directly attributed to 450 covid cases, and his penchant for terminating people over opinions. Between the way he almost advocates for business priorities over basic human rights and his blatant fascism, some of his behaviors align with the hubris and fanaticism the Nazi party was known for. Cracking down on dissent, attempting to direct the flow of information, it’s almost as if we see how a modern Joseph Goebbels acts if he inherited the wealth of an apartheid emerald mine and pushed his own radical agendas with no regard for human life.
While Elon may not be as extreme as some of the worst people of the Nazi party, as in he didn’t throw millions of people in gas chambers, he seems to behave in a way that indicates he would do so without flinching or questioning it, if it continued to make a shit ton of money.
I saw no false statements here.
Spotted the bootlicker
I usually think a lot of comments on here are over the top, but this one wasn’t that bad. Big companies get subsidies way too often.
I’m sad. Hug me?
Oh you can bet he is gonna get ur tax dollars .
200 b-b-b-b-billion…!
I see so much hate toward Tesla in this post and I assume it’s mostly because of Musk.
But at the end of the day they are still the ones selling the most EV which I still believe is a good thing.
I’d rather people buy an asshole’s EV than another polluting pick-up truck tbh. (I know EV are also creating pollution, no need to point this out ty).
The vast majority of EVs I see in the street of my french city are Tesla’s. And I see a bit more everyday. And no matter how much I despise Musk, I still appreciate the fact that tesla is helping us move forward from combustion engines.
I don’t really care if someone buys a Tesla just to show off. It’s one less combustion engine on the road.
They need to ditch Musk… he’s toxic to the brand now.
The board is composed of close family and friends. They are not going to ditch Musk.
And fix their quality, and upgrade their interior to have buttons, as well as be somewhat nicer than a Toyota for the price they’re asking.
tesla’s are shit cars and cars are fuckn awful for the environment so its the creme dela creme of a shit stain. some people actually think they’re doing the environment a good thing buying a new car instead of demanding public transportation/or at least buy something used to literally stop killing the earth.
like seriously you think you’re doing something to help the environment by buying a new car from a elon fucken musk? like you do realise tesla lobbys against public transporation? You know something that would actually help the environment.
like he’s literally a car salesman and you dupes were suckered into it like a fucken simpsons monorail
I agree in regards to public transport in cities of a resonable size and between them. Outside bigger cities, it simply isn’t a workable solution. Fact is that a lot of our modern society is built around cars. It’s not easy to change that.
BEV’s will certainly not save the world from climate change, but they are a lot better than ICE vehicles and since we aren’t getting rid of vehicles, it’s a lot better if they are BEV’s. Hate Elon Musk as much as you like (I likely wouldn’t disagree with you), but you can’t ignore that Tesla arguably has pushed forward the transition to BEV’s.
Where I live, no amount of anything is going to get me away from a car. Even if I had a billion dollars to invest, I couldn’t get rid of the need for a car, for at least 10 years. It’s a nice position to take, but completely devoid from reality.
Teslas just aren’t great EVs compared to other brands. The reason they are popular is because of marketing.
Give me a Renault EV any day.
Aren’t great how? They have some of the most efficient cars, with high charging speeds, and easily the best charging network.
As far as EVs go, they’re fantastic. Said as someone who has owned multiple EVs from different brands.
The charging network argument is getting less important in densely populated Europe, and at least here in the Netherlands. For fast charging I usually charge at Shell Recharge because it’s cheap with my card (for my boss, but small company so I try). Otherwise there’s always a Fastned, Ionity or other party. And there are so many destination chargers that I don’t really hesitate to drive anywhere. And anyway you can charge at Tesla too if there is availability I think, though for the reasons stated above I haven’t needed to.
And now other brands are coming out with loads of relatively affordable 100-150kwh+ options. At that point a cross continent vacation is still a bit of a hassle, but for daily use that’s more than enough since you mostly charge at home or at a destination anyway.
<img alt="" src="https://lemmy.ca/pictrs/image/32673e6b-4186-4e69-9aa8-3d04a9ebbbff.jpeg">
It might face a bumpy road but the reality is the core reason for the drop is the amount of stock musk has sold to cover his idiotic decisions recently
Who would have thought your brand would tank if you go full send on being a absolute douche bag. Almost like there is consequences for you actions… Something these ultra rich assholes never face.