@TBPInvictus right here:
Again in December 2022, I hypothesized that Elon Musk’s antics and his newfound want to own the Libs have been going to destroy Tesla’s enchantment to lots of his most essential consumers.
The most recent information confirms these sentiments have been on level.
I checked out 2020 voting information and TSLA registrations in counties all through the state of New York, and theorized as follows:
Watching Musk’s ongoing antics, it has change into very clear to me that his actions aren’t solely destroying Twitter, however the collateral injury is taking Tesla down with it – a veritable twofer of ineptitude and rake-stepping. […]
My thesis is that in Musk’s newfound want to own the Libs, he’s alienating the very individuals who have overwhelmingly been consumers of his EVs.
Contemplate who the standard Tesla purchaser has been over the last decade earlier than he started to personal the Libs: You’ll describe them as individuals who don’t assume international warming is a hoax; they’re early adopters, keen to pay extra for an EV versus an ICE automotive. Nearly as good as Tesla’s supercharging community is, it’s nowhere close to the infrastructure buildout of gasoline autos, it could nonetheless be inconvenient on 300+ mile journeys; though to be honest, ICE infrastructure has had a century head begin. These people need to depart a greater world to their youngsters; they’re realists concerning the risks introduced by local weather change, and so they assume people could make a distinction by way of their private selections. Oh, and so they consider in science.
It isn’t that this group is solely Democrats, however draw a Venn diagram with the oldsters I described above and Dems, and the overlap is critical.
Now comes the Wall St. Journal with the headline: Elon Musk Misplaced Democrats on Tesla When He Wanted Them Most
The proportion of Democrats shopping for Tesla autos fell by greater than 60%, in accordance with automotive consumers surveyed in October and November by researcher Strategic Imaginative and prescient.
I’m not one who’s usually inclined to take a victory lap, however this one feels prefer it was so apparent to see coming by bringing collectively information from very disparate sources and nailed the eventual final result.
In case your politics places you on the other aspect of the NYT/Paul Krugman, how do you reconcile that now Murdoch’s WSJ has come to simply accept this relaity as nicely…?
BR provides: What makes this so perplexing is what an unforced error this has been. Musk moved all the auto business in the direction of electrical, he had amassed huge goodwill and had a built-in buyer base that was very loyal. All he needed to do was not screw it up, which — apparently — was a bridge too far.
At its peak, TSLA was value $1.29 trillion; in the present day, it’s $448.9 billion:
That may be a 65% lower in market cap + worth:
In fact, there’s far more competitors in the present day, and Tesla’s designs are getting outdated, and looking out a little bit stale. Their enormous decade-long software program benefit is now in all probability someplace within the 2 -4 12 months vary.
Not less than it would make for an enchanting HBS case examine sooner or later…
Supply:
Elon Musk Misplaced Democrats on Tesla When He Wanted Them Most
Tim Higgins
WSJ, April 20, 2024
The way to Destroy a Model, Musk Type
Paul Krugman
NYT, Dec. 30, 2022