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> They sold just under 2 million vehicles --- about 12% of the global total of 14 million. https://wardsintelligence.informa.com/wi967636/global-vehicle-sales-
by pfannkuchen 2y ago
> They sold just under 2 million vehicles --- about 12% of the global total of 14 million.
https://wardsintelligence.informa.com/wi967636/global-vehicle-sales-top-92-million-units-in-2023-december-volume-up-11 https://wardsintelligence.informa.com/wi967636/global-vehicl...
"Global Vehicle Sales Top 92 Million Units in 2023"
So it seems like Telsa in their best year had about 2% of global vehicle sales.
BTW I'm not arguing that the stock price is justified. I just think it's based primarily on exuberance over their breakout success in selling actually usable EVs and actually scaling it and actually achieving profitability, and not based primarily on exuberance over their more questionable long term goals.
A well executing breakout company in the physical goods space is a breath of fresh air, and I think that is mostly what the market is reacting to and speculating on. The other explanation requires a lot of investors to be very stupid, which I don't like accepting lightly when there are alternate explanations.
I personally don't believe Elon is lying about any of this stuff. He is probably wrong, but he's not lying. He has had the ego-expanding experience of proving the haters wrong in a big way multiple times, and it has made him hubristic. This would probably happen to a lot of us in his shoes.
- jqpabc123 2y agoSo it seems like Telsa in their best year had about 2% of global vehicle sales. Yes. I revised my post above to show that 14 million in 2023 was EV sales only. So a company with 2% of total vehicle sales and 12% of EV sales had a market cap larger than all the other auto manufacturers in the world COMBINED. Absolutely OUTRAGEOUS!. So much for the efficient market hypothesis. https://www.investopedia.com/terms/e/efficientmarkethypothesis.asp https://www.investopedia.com/terms/e/efficientmarkethypothes...