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A lot of Tesla fans have been saying how the incumbents are unable to compete with Tesla in the EV segment, and with all driving going electric this would mean
by est31 4y ago
A lot of Tesla fans have been saying how the incumbents are unable to compete with Tesla in the EV segment, and with all driving going electric this would mean very high Tesla market shares in the future car market. 10 years ago this was the case indeed, Tesla was way ahead. But the issue was that these people haven't updated their views to today, and still keep repeating that belief. Now, incumbents have brought out very strong car models onto the market, at really competitive conditions. The future is electric, yes, but not with high enough market shares for Tesla to to justify its share price (which in fact is so high, even if Tesla had 100% market share, it would still be unjustified but that's another thing). The patent opening also happened 10 years ago.
- throwaway69123 4y agoI think you can still make a very strong argument that incumbants are still struggling to reach manufacturing scale and profitability with their EV's.
- bhauer 4y agoLooking at the Cox Automotive data for Q1 2023 (not just January and February as Jalopnik selected), it's difficult to spin the competition as anything but a bunch of fighting over scraps. Chart here: https://pbs.twimg.com/media/Fth_aAtXwBQDUvK?format=png&name=900x900 https://pbs.twimg.com/media/Fth_aAtXwBQDUvK?format=png&name=...
- est31 4y agoThat's US data FTR, and 62% is indeed impressive. Globally, Tesla has 12% market share however. BYD Auto, a Chinese manufacturer, has 20%, so Tesla is only second globally. https://www.counterpointresearch.com/global-electric-vehicle-market-share/ https://www.counterpointresearch.com/global-electric-vehicle...
- bhauer 4y agoNote that your data includes PHEVs, and is not limited to BEVs. While BYD is growing fast, they are not yet ahead of Tesla in BEV units.