TESLA: Exposing Media Lies on Electric Vehicle Demand

The mainstream media and legacy automakers are spreading false information about the slowing demand for electric vehicles, ignoring the rising demand for Tesla and misrepresenting the growth of the EV market 

Questions to inspire discussion 

• What is the truth about consumer demand for electric vehicles?

  —The mainstream media and legacy automakers are falsely claiming that consumer demand for electric vehicles is slowing down, but the truth is that Tesla's demand is rising.

• What factors influence consumer willingness to purchase an electric vehicle?

  —Tesla's price reduction and consumer willingness to pay more for convenience and mobility are important factors in the decision to purchase an electric vehicle.

• How is the media biased against Tesla?

  —The media is biased against Tesla due to their lack of advertising funding, leading to misleading information being presented to viewers.

• What is the projected growth for electric vehicles in 2024?

  —In 2024, US SAR is projected to grow less than 5%, while EVs are expected to grow 30%, indicating a slowdown in growth for traditional auto sales and related infrastructure.

• What is the current adoption rate for electric vehicles in the US?

  —EV adoption in the US is at 9%, with 1.4 million EVs shipped out of 15.5 million total cars, leading to confusion about actual auto sales.

Key Insights

• 📰 The mainstream media and legacy automakers are spreading false information about the slowing demand for electric vehicles, ignoring the rising demand for Tesla.
• 🚗 The narrative that the consumer is not ready for EVs is a media barrage that the data belies.
• 📺 The media's bias towards advertisers like Big Auto affects the information that is presented to viewers.
• 📈 The EV adoption rate is continuing to grow at a very healthy pace, greater than 35%.
• 📊 The media misrepresents EV sentiment by focusing on interest rather than actual purchase rates, creating a misleading narrative.
• 📈 EV sales grew by 37% in 2022, challenging the narrative that EVs aren't growing.
• 🚫 The media is willing to traffic in misinformation to paint a narrative, as seen in the false statement about EV growth.
• 📰 The media is accused of twisting facts and positioning statements to demonize Tesla's segment, creating a narrative that may not accurately reflect the situation.

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Clips 

• 00:00 🚗 Tesla's demand is rising despite false claims from mainstream media and legacy automakers about slowing consumer demand for electric vehicles.
  • Mainstream media and legacy automakers are falsely claiming that consumer demand for electric vehicles is slowing down, but the truth is that Tesla's demand is rising.
  • Edwards, president of Strategic Vision, discusses consumer willingness to switch from hybrid or ice engines to EVs, specifically in relation to Tesla's price cuts.
• 01:23 🚗 Consumer willingness to pay more for convenience and mobility, government and manufacturer incentives, and media bias against Tesla are important factors in the growth of the electric vehicle market, which is expected to outpace traditional auto sales by 2024.
  • Tesla's price reduction and consumer willingness to pay more for convenience and mobility are important factors in the decision to purchase an electric vehicle.
  • Consumer willingness to adopt electric vehicles is influenced by government and manufacturer incentives, and without them, the market will be much smaller.
  • The media is biased against Tesla due to their lack of advertising funding, leading to misleading information being presented to viewers.
  • In 2024, US SAR is projected to grow less than 5%, while EVs are expected to grow 30%, indicating a slowdown in growth for traditional auto sales and related infrastructure.
• 05:57 🚗 Despite media narratives, EV adoption is growing and more people are interested in buying electric vehicles, but there is a gap between interest and actual purchase rates.
  • Companies with declining business are questioning the effectiveness of advertising spending and whether there is a conspiracy behind it.
  • EV adoption rate is growing at a healthy pace, with a larger percentage of people wanting electric vehicles for their next purchase, despite the narrative that people don't want EVs.
  • Survey data shows that there is a significant gap between interest in buying an electric vehicle and actual purchase rates.
• 08:49 🚗 Over half of people are interested in buying electric vehicles, indicating rising EV adoption, despite biased media reporting influenced by companies like Tesla.
  • The survey shows that while only 9% of people are currently purchasing EVs, over half are interested in buying one, indicating that the EV adoption curve will continue to rise as exposure and normalization of EVs increases.
  • Interest rates will continue to rise, and eventually all cars will be electric vehicles, with EV sales growing faster than the industry despite some setbacks.
  • Media outlets are influenced by companies like Tesla through ad dollars and messaging, leading to biased reporting with only occasional nuggets of truth.
• 11:56 🚗 Tesla's supply chain and partner leverage are broader than what has been released, while Ford's statement about EVs and media manipulation are false and absurd.
  • Ford's statement about EVs growing less than the industry is easily proven false, and the company is not in a position to accelerate EV adoption due to significant losses on every vehicle they produce.
  • The speaker believes that Tesla does not have the complete recipe for their products and that their supply chain and partner leverage are broader than what has been released.
  • Tesla is reducing production and sending mixed signals to suppliers, while also demonizing the segment and twisting facts in the media.
  • Cheaper prices on EVs may hinder widespread adoption due to concerns about low resale values, and Ford's big losses on EVs are being spun as good news for investors.
  • Media spending can manipulate information and prop up poor performance, which is absurd.
• 16:47 🚗 EV adoption in the US is growing faster than auto sales, with potential for significant growth in North America, and big automakers projecting an increase in units sold is a good sign for Tesla.
  • EV adoption in the US is at 9%, with 1.4 million EVs shipped out of 15.5 million total cars, leading to confusion about actual auto sales.
  • EV adoption is growing at a faster rate than auto sales, and the fact that big automakers are projecting an increase in units sold is a good sign for Tesla.
  • EV adoption is increasing, and Tesla's market share in the US is growing, with potential for significant growth in North America.
• 19:41 🚗 Tesla's unit economics do not support the idea of better gross margins with growing volumes, leading to a decrease in capacity and market share for Ford while Tesla's market share continues to grow.
  • Tesla's unit economics do not support the idea that growing volumes will lead to better gross margins and economies of scale, as they did not design a vehicle that could be profitable at scale and missed several complexities.
  • Tesla's cost structure is high, leading to a decrease in capacity and market share for Ford, while Tesla's market share continues to grow.
• 21:50 🚗 The media is spreading false narratives about Tesla, but there is a comprehensive resource for Tesla investors on herbert.com.

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