It has no “moat” of any kind i.e., nothing meaningfully proprietary in terms of its electric car technology (which has now been equaled or surpassed by numerous competitors) and its previously proprietary Superchargers are being opened to everyone), while existing automakers- unlike Tesla-have a decades-long “experience moat” of knowing how to mass-produce, distribute and service high-quality cars consistently and profitably.It has a sliding share of the world’s EV market and a share of the overall auto market that’s only around 1.5%, yet a market cap greater than the next 14 largest automakers (by market cap) combined despite selling only around 2% of the cars they do.public company, and we remain short Tesla, the biggest bubble-stock in modern market history, because: Meanwhile, Elon Musk remains the most vile person ever to head a large-cap U.S. Welcome to the auto business, which currently sells for around 5x earnings! Sure, if Tesla slashes prices enough it will undoubtedly be able to use its excess capacity, but so can any other car company. This means one thing and one thing only: big, margin-slashing Tesla price cuts are needed to resume meaningful unit delivery growth, and I expect we’ll see them within weeks. Tesla’s production capacity is now outstripping its rate of incoming orders despite the new German and Texas factories producing at only around 10% of their capacity! Tesla delivery wait times worldwide are now declining substantially ( down to just one week in China where it now runs its factory below capacity). Production Capacity Outstrips Incoming Orders And Here's Tesla's Competition In Storage Batteries. Here's Tesla's Competition In Charging Networks. Here’s Where Tesla’s Competition Will Get Its Battery Cells. Here’s Tesla’s Competition In Autonomous Driving The Independents All Have Deals With Major OEMs.
And In China, Where Tesla’s EV Market Share Is Now Declining.
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