I didn't say Toyota didn't have happy customers. Tesla's Model 3 received the top customer satisfaction score in each of the four age ranges in Consumer Reports

I didn't say Toyota didn't have happy customers. Tesla's Model 3 received the top customer satisfaction score in each of the four age ranges in Consumer Reports survey of 420,000 drivers. [1] A Tesla Model 3 after 3/5 years has a residual value of 77.47%/58.96%/45.35%(est), versus for example a BMW 3 Series after 3/5/7 years with a residual of 61.56%/41.71%/34.15%. [2, 3] And the apt comparison for margins is gross margins not operating margins. Operating Margins will be higher for a stagnant company conversing cash versus a rapidly growing company. Gross margins show you how much they are earning per unit sale, regardless of how much of their profit they are re-investing in future growth. Tesla automotive gross margins in Q3 were 27.7% versus Toyota gross margins of 18.1%. [4, 5] [1] - https://www.thestreet.com/tesla/news/tesla-tops-consumer-reports-owner-satisfaction-survey https://www.thestreet.com/tesla/news/tesla-tops-consumer-rep... [2, 3] - https://caredge.com/tesla/model-3/depreciation https://caredge.com/tesla/model-3/depreciation https://caredge.com/bmw/3-series/depreciation https://caredge.com/bmw/3-series/depreciation [4, 5] - https://tesla-cdn.thron.com/static/4E7BR9_TSLA_Q3_2020_Update_P0Q85U.pdf https://tesla-cdn.thron.com/static/4E7BR9_TSLA_Q3_2020_Updat... https://finbox.com/NYSE:TM/explorer/gp_margin https://finbox.com/NYSE:TM/explorer/gp_margin