Legacy automakers are struggling to keep up with the dominance of companies like Tesla and BYD in the electric vehicle market, and need to adapt in order to remain competitive
Questions to inspire discussion
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What is the current state of the electric vehicle market?
—The electric vehicle market is booming, with Tesla and BYD competing for dominance and potential growth in sales for BYD.
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How are legacy automakers adapting to the electric vehicle market?
—Legacy automakers like Toyota and GM are struggling to keep up with companies like Tesla and BYD, risking being left behind in the market.
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What is Tesla's strategy for the next generation vehicle?
—Tesla is working on a next-gen vehicle that will be affordable and ramp up production at lightning speed, potentially surprising competitors with its rapid growth.
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What is the outlook for electric vehicle sales in the future?
—Electric vehicles are projected to make up 100% of new vehicle sales by the end of the decade, despite economic uncertainty and consumer delays in purchasing.
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What are the potential consequences for legacy automakers in the electric vehicle market?
—Legacy automakers are at risk of going bankrupt if they do not adapt to the shift towards electric vehicles, as there is greater demand for electric vehicles than hybrids.
Key Insights
- 📈 "The big picture here is the EV market is continuing to boom as prices come down and I think expect 30% year-over-year growth globally from 10.5 million units in 2022 to close to 14 million units this year."
- 🔋 The big question is who wins the cost down war and how soon Tesla can get that $25,000 car on the road.
- 🚀 Tesla's next gen vehicle is designed to be produced at lightning speed, ramping faster than any product in Tesla history by a massive margin.
- 🚗 In 2024, Tesla is expected to introduce a Mass Market nextg EV model, potentially at a $30,000 to $35,000 price point.
- 📉 "It has been truly incredible to watch this Legacy Automotive Behemoth flail around backpedal and fail to recognize the opportunity."
- 🚗 "It's Tesla's World everyone else paying rent when it comes to electric vehicles."
- 📈 EVs are on their way to 100% of all new vehicles sold roughly by the end of this decade, despite economic uncertainty and consumer delays.
- 🌏 Despite being a foreign entity, Tesla has a huge foothold and a massive advantage in China, the world's biggest and most important automotive market and the most mature electric vehicle market.
#Tesla #Investment
Clips
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00:00 🚗 Tesla remains top EV stock with 30% growth, BYD competing for dominance, next-gen affordable vehicle in the works, stock doubled in 2023, expected to perform well in 2024.
- Tesla remains the top EV stock as the market continues to boom with 30% year-over-year growth, despite claims of slowing EV demand in the fake news.
- Electric vehicle sales are increasing, with BYD and Tesla competing for dominance, and BYD potentially overtaking Tesla in electric vehicle sales in the near future.
- Tesla will announce the next generation vehicle without showing pictures to prevent potential buyers from waiting for the cheaper version, and the $25,000 Tesla vehicle will sneak up out of nowhere.
- Tesla is stealthily working on a next-gen vehicle that will be affordable and ramp up production at lightning speed, potentially surprising competitors with its rapid growth.
- Tesla had a great year in 2023, with the stock more than doubling, and is expected to continue performing well in 2024 due to declining battery costs and UAW deal increasing costs for competitors.
- The company has a buy rating with a $300 12-month price target, and it is predicted that Tesla will introduce a Mass Market nextg EV model in 2024, likely priced between $30,000 and $35,000.
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07:09 🚗 Legacy automakers like Toyota and GM are at risk of being left behind by companies like BYD and Tesla in the electric vehicle space, with BYD growing faster than Tesla and Hyundai and Kia also doing well.
- Garrett and CFRA have buy ratings on Tesla and Poar, with Byd growing faster than Tesla and Hyundai and Kia also doing well in the electric vehicle space.
- Legacy automakers like Toyota and GM have failed to recognize the opportunity in electric vehicles and are at risk of being left behind by companies like BYD and Tesla.
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09:33 🚗 Legacy automotive companies like GM and Ford are struggling to adapt to the shift towards electric vehicles, while Tesla continues to dominate the market, similar to Blockbuster's decline when Netflix gained market share.
- Companies like GM and Ford are slowing down while Tesla is dominating, similar to Blockbuster's decline when Netflix gained market share, highlighting the importance of adapting and accelerating plans.
- Legacy automotive companies are slow to adapt to the shift towards electric vehicles, with Lucid facing financial struggles and Tesla continuing to dominate the market.
- Rivan, a long-standing electric vehicle startup, is doing well but not as well as Tesla, and may still succeed.
- Lucid CEO is being compensated excessively while the company is struggling and potentially going bankrupt.
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13:00 🚗 Lucid, BYD, and Tesla dominate the EV market, while traditional automakers like Ford and GM face challenges and are pulling back on EV investments in favor of hybrids, despite greater demand for electric vehicles.
- Lucid, BYD, and Tesla are dominating the EV market, while other companies like Ford and GM are facing challenges with their electric vehicle offerings.
- Traditional automakers are pulling back on their EV investments and focusing more on hybrids due to consumer demand, leading to a potential pullback on EVs in the future.
- Legacy automotive companies are realizing they will go bankrupt if they sell pure electric vehicles, as there is greater demand for electric vehicles than hybrids.
- Legacy automotive companies are trying to trick customers into buying hybrids with small batteries by claiming they are great for the environment, but in reality, there is more demand for electric vehicles.
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16:38 📈 Garrett's inconsistent stock recommendations, including bullishness on Tesla and a hold recommendation for Lucid, resulted in significant losses for investors.
- Garett, a competent analyst, previously recommended selling Tesla stock at $1741 per share, but the speaker burned their emergency fund and closed a business to invest in it.
- Garrett has a history of inconsistent stock recommendations, including bullishness on Tesla and a hold recommendation for Lucid that resulted in a significant decrease in stock value.
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18:46 🚗 Automakers need to compete with Tesla in the EV market or they will not sell vehicles, as demand for electric vehicles is growing and projected to make up 100% of new vehicle sales by the end of the decade, with Tesla dominating in China.
- Automakers are realizing they need to compete with Tesla in the EV market by offering comparable performance and features at a comparable price, or else they will not sell vehicles.
- Electric vehicle demand is not as high as expected, with consumers preferring Tesla over other brands, leading to production cuts for other companies and a shrinking market.
- Strong volume in China indicates a potential record quarter and accelerating demand for electric vehicles, leading to a transformation in the industry.
- Electric vehicles are projected to make up 100% of new vehicle sales by the end of the decade, despite economic uncertainty and consumer delays in purchasing.
- Tesla's success in China is attributed to their price cuts, focus on units, high profit margins, and strategically located factory, giving them a massive advantage in the world's biggest automotive market.
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