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Tesla erases history, silently removes key climate manifesto written by Elon Musk
(www.newsbytesapp.com)
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this post was submitted on 28 Aug 2024
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Well, for one thing, they've lost first mover advantage by squandering their lead. Every other company that makes an EV now makes one that works better, lasts longer and looks better than Tesla does. Besides which he's pandering to crowd that largely believes that their cock and balls will shrivel up and fall off if they purchase an electric vehicle.
Why would you rebrand Twitter? You've got the largest and most recognizable website and logo on the internet, why would you want to scrap all that and start almost from scratch with a new name and nondescript logo that no one recognizes? First year marketing 101 tells you this is nearly the worst possible thing you can do with a recognized brand name.
Musk is most well known for bad business decisions. More than anything else he's done, he's famous for his ability to rampage through a previously functional company and burn it completely to the ground. Pivoting Tesla into creating an ICE vehicle is completely on brand for him.
Well be that as it may, somehow they still have more market share in the EV market than any of their competitors. They likely have almost as much market share as all of their competitors combined, (though I don't have those numbers to confirm). So regardless of what you think of the quality of their cars, I wouldn't say they've squandered their lead, not with the kind of sales they're doing.
Also, I mean, their brand is all about electricity, the company is named after Nicola Tesla.
At the start of the year in 2022 when Tesla was the only major EV player in town, they held a 75% market share. As of Q2 2024 they hold 49.7%. Your statement is technically correct but you don't blow a lead like that unless something is severely wrong with your product or unless everyone else has caught up and outstripped you. In this particular case both are true.
One company still has 49.7% market share and you think that's blowing it in any way? Do you have any idea how many manufacturers are now making EVs? Holding on to that much market share is crazy! Besides, with so many more new EVs on the road, that's probably still an increase in vehicles. You can't expect them to keep that kind of lead when they're one of a dozen car companies competing for that market.
And yeah, with 49%, nobody is outstripping them, nobody is even close.
When they've blown more than a third of their market lead with poor build quality, poor customer service, and a CEO that is actively pushing away both consumers and advertisers? Yeah I do think that's blowing it. They had a golden goose and then they kicked it enough times that it's stopped laying eggs.
And yes, other EV makers are outstripping them, that's how they lost nearly 30% of the market share. That's a third of the entire market for EV cars, that they previously had in their pockets. Not outstripping in sales, yet, maybe - but the build quality and reliability (or rather, the notoriously poor quality and unreliability of Tesla in particular) are pushing customers that direction in record numbers. Name me any other company that lost 30% of their market share in two years and called this fine. I'll wait.
Hah, you're nuts man.
Apple invented the smartphone, so in 2007 they had 100% of the market share. But when Android phones began arriving, they started getting some of that market. Years later many different manufacturers started selling Android phones and Apple's market share dropped below 50%. Is that Apple squandering their lead, or is that just inevitability once the public had more options? I mean if you represent 5% of the brands competing, why would you expect to hold 75% of the market? That's crazy...
I'd argue that there is no company that could maintain 75% market share in any category of car sales, and failing to do the impossible is not the same as mismanagement. But hey prove me wrong if you can.