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It's a used but not common practice in the North American car market. Toyotathon happens in December in order to dump old stock and increase sales during the la
by Tanoc 4y ago
It's a used but not common practice in the North American car market. Toyotathon happens in December in order to dump old stock and increase sales during the last possible part of the year. Same with the December To Remember sales event from Toyota's luxury arm Lexus. Ford and GM don't usually engage in this unless they're axing the model anyways (Pontiac Solstice and Ford Taurus for example). Happy Honda Days is the only other one I can think of that's recurring. Mercedes-Benz and BMW are irregular with this practice, and BMW only does it with certain models when they do participate.
- jacquesm 4y agoDo their stocks respond in a similar way?
- tacker2000 4y agoProbably not, but since TSLA is a highly traded, and somewhat overpriced and volatile stock, it makes sense that every little piece of news will make it move.
- oblio 4y ago> somewhat overpriced and volatile stock Understatement of the century. https://wolfstreet.com/wp-content/uploads/2021/10/US-Tesla-market-cap-v-top-10_2021-10-25-.png https://wolfstreet.com/wp-content/uploads/2021/10/US-Tesla-m... Keep in mind that the stack of companies on the right makes 30-50 times more cars than Tesla. This was from 2021 but I imagine it's not hugely different in 2022.
- tacker2000 4y agoHehe yes i agree fully, was a bit of a tongue in cheek statement. Anyway their market cap now has tanked to 386B.
- johnny22 4y agoconsidering how regular those events are, probably not. Tesla doesn't seem to have an established "normal" yet, so it is likely to be more volatile.
- Tanoc 4y agoLikely not. It seems to be more of a supply practice in order to promote lot turnover and prevent previous model years from sitting on the lot rather than help the company's finances directly. There's a perception that if an older model year car is on the dealership lot brand new, either the model is undesirable or that specific car has a defect. Unfounded or not the brands don't want that association.