Tesla Industry Executive: Media Losing to Tesla" - EV Leadership & Autonomous Driving

Tesla's leadership in the electric vehicle industry, combined with the increasing adoption rates and advancements in technology, is driving the shift towards electric vehicles and changing the conversation around autonomous driving 

Questions to inspire discussion

• What impact does negative media have on EV buyers?

  —Negative media coverage can deter potential EV buyers, but there are solutions to increase sales despite this influence.

• How has mainstream media coverage of EVs shifted?

  —Mainstream media has shifted from positive to negative coverage of EVs, leading to a decrease in non-Tesla EV inventory and a shift towards hybrid vehicles.

• What is the perception of EVs among consumers?

  —Despite negative sentiment from the industry press, consumers have a positive perception of EVs and are interested in purchasing them.

• What is the current state of EV adoption in the US?

  —The US is lagging behind in electric vehicle adoption, while the rest of the world is rapidly increasing, and the current political leadership is not helping the situation.

• How is Tesla's success attributed in the EV market?

  —Tesla's success is attributed to their innovative products, potential for autonomy, and ability to scale, which may revolutionize the EV auto industry. 

Key Insights

• 🤔 Surprisingly, 42% of people believe that Tesla is moving in the right direction.
• 🚗 Firsthand information from EV owners can drown out the negative media news and influence people's decision to try an electric vehicle.
• 🚗 Surveys show that 30-50% of people want their next auto purchase to be an EV, indicating that adoption rates will continue to march on.
• 🔋 The shift to electric vehicles is rapidly increasing, with the combination of hybrid and electric vehicles now reaching 50% of the market.
• 🚗 The key thing with EVs is the feeling of zero latency with the accelerator and one pedal driving, making it a better experience for the value per dollar.
• 🌍 Tesla is the number one EV manufacturer by technology and most quarters by volume, despite China's crushing output and exports in the EV industry.
• 🌍 The concept of electric vehicles vs. ICE cars is bigger than just educating consumers, it's about maintaining Tesla's leadership position in the industry.
• 🚗 Tesla's release of the Cyber truck and FSD version 12 is changing the conversation around autonomous driving and solidifying the EV category.
• 📈 Tesla's entry into a new category is important for a massive boost in new products perspective. 

#HerbertOng #Tesla #Media 

Clips 

• 00:00 🔋 Mainstream media is losing against Tesla as they shift from positive to negative coverage of electric vehicles, but most people don't pay attention to the media.
  • Casey Boyce discusses the impact of negative media on EV buyers and suggests a simple solution to increase EV sales.
  • Industry executive discusses how media is losing against Tesla and how expectations are changing.
  • Mainstream media shifted from positive to negative coverage of electric vehicles, but most people don't pay attention to the media.
• 02:27 🚗 Despite Tesla's stock price increase, Big Auto is not expected to profit from competition in the EV market, leading to a shift towards hybrid vehicles and a decrease in non-Tesla EV inventory, while media outlets have shifted their tone on EVs due to a decrease in advertising revenue.
  • Competition in the EV market is not expected to be profitable for Ford and GMC, despite Tesla's stock price increase.
  • Big Auto switched their ad spend and capital plans away from EVs, leading to a decrease in non-Tesla EV inventory and a shift towards hybrid vehicles.
  • Media outlets shifted their tone on EVs and started promoting hybrids instead due to a decrease in advertising revenue from EV manufacturers.
  • Many people, including those in the EV world, are not ignoring the media's negative coverage of Tesla, as evidenced by the fact that even friends and family who are not following the news are repeating the same media talking points.
• 06:18 📰 The media's negative coverage of Tesla is influential in rural areas, but consumers have a positive perception of EVs and adoption rates are expected to increase rapidly.
  • The media's negative coverage of Tesla is more influential in rural areas where there are fewer electric vehicles and less firsthand information available.
  • Consumers have a positive perception of EVs and are interested in purchasing them, despite negative sentiment from the industry press.
  • Automakers are slowing down EV production, and it will be interesting to see the adoption rates in different regions, especially in North America.
  • Electric vehicles are rapidly gaining popularity and are expected to make up 50% of the market when combining hybrid and electric vehicles.
• 10:39 🚗 Tesla is facing challenges with incentives for electric vehicles in China and Europe, media influence on consumer perception, and dealership discouragement, but remains unaffected and is increasing awareness of their affordable Model 3.
  • Incentives for electric vehicles in China and Europe have slowed down due to economic factors, and there is concern that the media could influence consumer perception towards hybrid vehicles.
  • Tesla's awareness of the $7,500 credit is increasing, and as the new Model 3 ramps up, it will help at a good price point.
  • Tesla is advertising on Facebook to reach a global audience, and many people are unaware that they can get a high-volume, high-value car starting at $36,000, but despite efforts to slow down electric vehicle adoption, Tesla remains unaffected.
  • Tesla is planning to increase advertising and the Detroit area is showing powerful information about the company.
  • Dealerships have tried to discourage customers from buying EVs, but consumer intent to buy is influenced by knowing someone with an EV, and there is a distinct difference in contact with EVs based on experience.
• 15:24 🚗 Tesla's easy test drive scheduling and crucial advertising are key in reaching new customers and overcoming EV political segmentation, with a focus on acquiring data on EV awareness and advantages.
  • Tesla makes it easy for people to schedule test drives and once they experience it, they often get hooked on the brand.
  • Tesla's advertising is crucial to reach people who have no exposure to EVs and overcome political segmentation around EVs.
  • The speaker emphasizes the importance of Tesla acquiring data on awareness, pricing, ease of use, and charging, noting that awareness of EV advantages varies by location.
• 18:11 🚗 Tesla is ramping up advertising to promote the value of electric vehicles as adoption increases globally, but lags in the US due to unhelpful political leadership.
  • Tesla is increasing advertising to reach more people and promote the value of their electric vehicles, as the adoption of electric vehicles in the US is on the rise.
  • The US is lagging behind in electric vehicle adoption, while the rest of the world is rapidly increasing, and the current political leadership is not helping the situation.
• 20:45 🚗 Tesla's growth is strong, but non-Tesla companies are slowing down due to lack of profitability and media support, and there is a critical need to ramp up resources for EV manufacturing and supply chain.
  • The legislation has helped the US in EV manufacturing, but there are issues with it, such as awarding hybrids and incentivizing products made in Mexico.
  • Tesla's growth is still strong, but non-Tesla companies are slowing down due to lack of profitability and media support, and there is a critical need to ramp up resources for EV manufacturing and supply chain.
  • The microelectronics industry was once offshore, and the speaker believes that the US could lose out on another major industry if they don't focus on electric vehicle adoption.
  • Tesla's adoption rate is growing at a rate of over 20 or 30%, but still behind China and Europe.
• 24:34 🚗 Tesla is dominating the EV market with innovative products and needs to educate consumers about the benefits of electric vehicles, while the release of the Cyber truck and FSD version 12 will solidify their position and impact their growth.
  • Tesla needs to maintain its leadership position in the electric vehicle market and educate consumers about the benefits of electric vehicles over traditional ICE cars.
  • Tesla's release of the Cyber truck and FSD version 12 will change the conversation and solidify the EV category, impacting Tesla's growth.
  • Tesla has dominated the EV market and is in need of new models to enter new categories, with the new model 3 receiving positive feedback, but there are currently only a limited number of cyber trucks and model 3s available.
  • Tesla's success is attributed to their innovative products, potential for autonomy, and ability to scale, which may revolutionize the EV auto industry.

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