alt Hacker NewsI think they have a future as a "normal" car company, but in order to do that they'd have to manage to deliver a new "normal car" model at some point, and accept normal stock prices.
That EV market share direction in the US, though .. really bad compared to non-petrostates (except Norway)
Replies
The problem is that transition would require a ~95% drop in stock price, and the company isn't going to survive that.
GM - $74.5B market cap (6.2M cars sold annually)
Ford - $50.2B (4.6M)
Volkswagen - $40B (9M)
BYD - $100B (4.6M)
Toyota - $256B (11.3M)
Hyundai - $57B (7.3M)
Tesla - $1.4T (1.6M)
The numbers simply don't add up.
Oooh, normal cars. Now there's a concept. Can we get a real EV minivan? Not a gimmick like the Buzz. I've got kids and go on long road trips to visit family. Seats, cargo capacity, range, and 800V charging speed.
Closest thing is like the Ioniq 9 but the cargo space really sucks.
For a polished product that ticks all the boxes, I would pay a premium for this.
They’ve never been a normal car company. And that’s the problem.
They don’t do a good job at the car company part. They make nice cars, but the company part has issues. Quick example… I was very happy to drive a model 3 for many years. But the constant changes in price of their new cars destroyed any resale value mine had. Every time Tesla was having a bad quarter, the value of my car dropped. That’s not the way to get me to buy another one.
There are certainly other areas where they could improve too. But my point being - they’ve never been all that good at (or interested in) what it takes to drive long term success in selling cars. It’s just too long of a time horizon for them.