The crazy thing is that even at 1/20 it's in the ball park of BMW or Mercedes and not far from VW group.
The last includes VW, Audi, 25% or 50% of Porsche, Skoda, Seat, Cupra, Lamborghini, Bugatti, 87% of Traton (Scania and Man trucks, VW trucks and busses)
But they do have decent product, technological advantages in some area and similar volume. They should be valued as a good auto OEM, nothing more, nothing less…
In principle I agree. But..
Their decent, and essentially only, product (Model Y) was revealed in 2019. Now we have a facelift but that isn’t much of a car company.
The energy business is boxing up cells made by others. Had once high margins for Tesla name but thise days are over and no moat there.
Tesla has never made 2 million vehicles and this year will be measurably lower.
Benz and BMW are roughly at 2.5 million (BMW bit higher with Mini). VW is at 9 million units sold (lower margin than BMW or Benz).
Yes, I agree… but imo you can discount ICE sales, they’re irrelevant for the future. The current lineup is evidence that Elon should have been thanked a while ago (or not be given so much product responsibilities).
I disagree on the ICE side. The Legacy is (US manufacturers have done quite badly though) is transitioning with the demand quite successfully. Nothing says they aren't going to keep doing it as demand shifts.
Chinese with price pressure are the challenge not Tesla.
Comments
The last includes VW, Audi, 25% or 50% of Porsche, Skoda, Seat, Cupra, Lamborghini, Bugatti, 87% of Traton (Scania and Man trucks, VW trucks and busses)
So even 1/20th is REALLY generous!
Their decent, and essentially only, product (Model Y) was revealed in 2019. Now we have a facelift but that isn’t much of a car company.
The energy business is boxing up cells made by others. Had once high margins for Tesla name but thise days are over and no moat there.
Benz and BMW are roughly at 2.5 million (BMW bit higher with Mini). VW is at 9 million units sold (lower margin than BMW or Benz).
Chinese with price pressure are the challenge not Tesla.