Tesla is facing significant challenges, which I believe are largely attributed to Elon Musk's leadership focus. Despite asking the company to reinstate his $48B compensation package, Musk seems more captivated by transformative projects like Robotaxis and full self-driving technology than the conventional responsibilities of running a car company.
Traditionally, automotive companies consistently update and introduce new features and models every few years to stay competitive. However, as Musk directs his energy towards futuristic technologies, Tesla models have gotten stale and there is little reason to buy a new model over an old one. Companies are catching up and surpassing Tesla in key areas like battery life and vehicle range, where Tesla once led unchallenged.
Most consumers understandably prefer tangible, incremental upgrades they can experience immediately rather than distant, revolutionary promises. This is evident in Tesla's declining sales, signaling a critical need for realignment in its strategy to recapture market momentum.
The Cybertruck and Robotaxies aren't the answer for the mainstream buyer.
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4yMorning from NZ