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Tesla may be tanking the EV industry [1]

['Jason Weisberger']

Date: 2024-03-04

Everyone from business partners, market analysts and their own customer's fear Tesla is tanking the market for EVs.

Tesla's constant ratcheting of prices down to keep sales numbers up is having a sweeping effect on the EV industry. Owners are unhappy about rapid, market-leading depreciation. Business partners like Hertz felt they had to dump their Tesla fleet due to unfavorable resale values hurting their balance sheet. Competitors have had to lower prices, across the board, to keep up. This is exactly the opposite of Musk's statement from late 2023: "You can think of every car we sell or produce that has full autonomy capability as something that in the future may be worth five times what it is today."

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[1] Url: https://boingboing.net/2024/03/04/tesla-may-be-tanking-the-ev-industry.html

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