TheGreatAbyss
Well-known member
- Joined
- Jul 23, 2020
Tesla is getting hit on two sides - US demand suffered cause Musk pisses off his customer base, and in China they are getting out competed by cheaper Chinese alternatives. I think the Musk factor has impacted the US EV market as a whole. As much as the NYTimes likes to point out there are other EVs for sale, none are as competitive as the 3 or Y.Tesla is responding by lowering prices and laying off workforce. Those price cuts are impacting other manufacturers, they are lowering prices too. That's a textbook definition of a market response to reduced demand.
EV adoption in China has been very successful, making up something like 60% of total WW sales. We just don't see all these cheaper alternatives over here (yet) due to trade restrictions.
As an EV enthusiast I don't think it's a bad thing that prices are dropping and there is more competition. Remember when flat screen TVs were like $20K ?