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Their brand is nowhere near as strong as it was 10 years ago. Rivian is the new "cool" EV company, while Kia, Hyundai, Ford, and GM offer perfectly good normie alternatives. They had the dream of being apple, selling for twice the price of anyone else, but I don't see that happening.
I got curious so I found some better stats:
So Tesla has maintained consistentl sales of units of cars in the past 8 quarters while the other players are growing. 52% is still a lot but it doesn't seem like Tesla is able to really grow it's customer acquisition rate. EV in general is also slow to catch on. But in comparison to another individual company Tesla is still far ahead.
In comparison to Apple in 2024:
But this was a drop from when Apple basically had 100% of the market since they were basically the first popular smartphone. I think the fact that EV has a strong competitor in just regular cars (EVs are not that much better than regular gas cars, while smart phones were vastly superior to flip phones) coupled with many other players entering the market before Tesla could grow too big makes your summary correct.
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Cars are just too expensive to be iPhones. Apple hit that perfect price point where people are willing to pay $1000 vs a $300 Android because of the OS, convenience, style, brand and lack of desire to switch, and that means huge margins for Apple. People are not willing to pay $70,000 for a Tesla vs $35,000 equivalent tier other car. That’s real money, which many car buyers literally cannot afford.
I think many people would pay that premium if the car could drive itself, but they just can't crack it.
Sure, but regulatory factors mean that most manufacturers will likely be able to develop or buy capable self-driving tech at around the same time, and there’s no real reason why it wouldn’t work in ICE cars either, so Tesla wouldn’t necessarily have a great advantage in that event.
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