I wonder if he's hoping Trump will stick massive tariffs on foreign competitors and mean he can just take the US market for himself? Though he also seems keen on selling in Europe and China, and he's setting himself up as a prime target for any retaliatory tariffs... maybe it just ketamine after all.
From my understanding, the EV market has slowed in the US because of the price point. There are very few options under $40k. Elon promised us a $25k model but made the Cybertruck instead. US car companies had decided some time ago they wanted to exit the low-end market. So now foreign companies serve that and China is the only one producing EVs in that price range at scale.
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I wonder if he's hoping Trump will stick massive tariffs on foreign competitors and mean he can just take the US market for himself? Though he also seems keen on selling in Europe and China, and he's setting himself up as a prime target for any retaliatory tariffs... maybe it just ketamine after all.
From my understanding, the EV market has slowed in the US because of the price point. There are very few options under $40k. Elon promised us a $25k model but made the Cybertruck instead. US car companies had decided some time ago they wanted to exit the low-end market. So now foreign companies serve that and China is the only one producing EVs in that price range at scale.
https://www.coxautoinc.com/market-insights/q2-2024-ev-sales/
Title: Despite Tesla Slide, EV Sales in Q2 Mark New Record
300k sales is less than 10% of all sales, so the 11% growth YoY growth is more like a 1% change in the total market
A new record does not imply growth has not also slowed