The Electric Vehicle market continues to get a reality check….
EV’s are NOT gonna be main stream vehicle’s for a long time….
And?
Elton Musk KEEPS proving that as a business man?
He can LOSE MORE money that just about ANYONE else….
Tesla shares plummeted more than 10 percent Thursday, wiping billions off the company’s valuation after CEO Elon Musk failed to allay concerns about stagnating growth and persistent price cuts on the company’s earnings call.
On Wednesday, Tesla reported quarterly results that missed analysts’ expectations, including annual revenue that grew by merely 3 percent despite significantly higher sales volume, and a forecast for a potential “notably lower growth rate” than in 2023 as it invests in a next-generation vehicle it says it will begin building in 2025.
Meanwhile, CEO Elon Musk is asking for more control over the company after drawing down a significant portion of his Tesla stock amid his purchase of Twitter in 2022….
image…Vehicles are offloaded at a Tesla store in Colma, Calif., on Dec. 13. (David Paul Morris/Bloomberg)
James,
Your reading into Tesla is not on point…There are many more reasons for Tesla’s stock decline…Read the article below and you will then understand the fundamentals…The electric car is coming…and the Chinese are the one’s probably bringing it while the American, Japanese and European companies are holding onto a legacy that is going to fade in the next 15-20 years…This is 1900…car industry hasn’t killed the horse yet, but by 1920…you couldn’t find a horse in any city unless it was a a novelty…
https://www.yahoo.com/finance/news/elon-musk-warning-market-takes-201045134.html
I DO state in this piece and others that RV’s are just NOT gonna be a mass seller with gas prices dropping , the ability to gas up in minutes, gas advantages over electric in cold weather, collision repair diferental’s, battery issues and I ADD ?
Elton Musk’s ability to fuck up a wet dream…..
Again….
I have NOTHING against the vehicles….
But Right Now?
They are niche vehicles with only LESS than 10% of the America car market and that number seems to be shrinking….
Like George Jerson’s future of flying cars?
EV’s will have to wait for a long bit down the road to become the norm….