NYC362
First, it really is a bit ridiculous for a company official to make statements like that on earning report.
Second, what is really the future for Tesla?
Here's my two cents:
There is no doubt the company was a trailblazer in electric cars. They really showed the world that an EV with a decent range was possible for a price that not only the super rich could afford. With that in hand, Tesla grew and grew. They were the EV company.
But things are starting to change.
Competition: Ford, GM, Kia, Volkswagen, etc have the money and are starting to produce EVs that are more affordable than a Tesla. I always thought my next car was going to be a Model Y. But since it first came out, the price has soared. I can no longer afford such a car. On the road, I'm starting to see Rivians. Today, I saw a Lucid. I've seen more Ionic EVs than I can count. Sure, there are still more Teslas out there, but the landscape is changing.
Quality control: In the rush to build as many cars as possible, I read reports all over the place of quality issues with Teslas. I'm not talking about not ready for prime time software, I mean body panels that don't fit well; paint jobs that are below standard, etc. That is not a way to attract customers
Finally, Musk himself. Sure, there are people who love the brash, no hold barred CEO, but many people do not like it. His possible purchase of Twitter is truly rubbing a lot of people the wrong way. There is no doubt it is turning off at least some customers.
I doubt Tesla will go out of business or see its stock fall to $50, but overtake Apple in market cap. Unless something major happens, I just do not see how that is even remotely possible.
