People in the market for a $60,000 battery-powered MAGA hat should wait a few more months when the price drops another $10k or so. Take a look at this chart comparing the cost of a used Tesla to other luxury car brands. The decline in the car’s value could be attributed to a number of things, including the increasing availability of cheaper, better alternative electric vehicle options, but it’s also reasonable to assume that Musk’s trashed reputation as a stable and innovation leader is a reason.
Cargurus.com
At this point, the only way Tesla can boost the price of its car is by adding a coal-rolling feature.
Tesla’s value is down more than 52% since the Twitter buyout was approved on April 25, while the S&P 500 is only off 5.5%. And Tesla stock is off 29% since the deal closed on Oct. 27, much worse than the S&P 500’s 6.6% gain in that time. Shares are down again Wednesday, by 3.4% to 155.38.
That’s shredding a jaw-dropping amount of wealth for Tesla investors. The value of Tesla is down $339 billion from the Twitter deal’s approval and $206 billion from the close.
Tesla features are aimed at a small super elite group of early adopters and noveau riches. Tesla lacks a marketing organization that values new features that appeal to the mass market. That’s why EVs from the traditional automakers will win the war in the long run.
My Nissan Leaf is the third I’ve leased since 2016. It works smoothly and reliably. The electronics added this year more than make up for the 2019 model’s deficits. It is difficult to imagine how I could be more pleased.
https://www.investors.com/etfs-and-funds/sectors/tesla-stock-investors-lose-132-5-billion-from-musks-twitter-fiasco/
Tesla features are aimed at a small super elite group of early adopters and noveau riches. Tesla lacks a marketing organization that values new features that appeal to the mass market. That’s why EVs from the traditional automakers will win the war in the long run.
My Nissan Leaf is the third I’ve leased since 2016. It works smoothly and reliably. The electronics added this year more than make up for the 2019 model’s deficits. It is difficult to imagine how I could be more pleased.