this post was submitted on 23 Aug 2023
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Tesla's value plunged nearly $200 billion since mid-July – and the EV maker faces a bumpy road ahead::Tesla shares closed Tuesday at just over $233, well down on their 2023 peak of $291.

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[–] Changetheview@lemmy.world 83 points 1 year ago (31 children)

Setting aside anything related to Musk, Tesla really doesn’t seem to be staying competitive.

Cybertruck (and the “indestructible” window press conference) is probably the easiest example. Years of attempted hype that haven’t paid off in a meaningful manner, while rivals have been releasing in-class competition. Anyone can see that’s a problem.

Tesla cars used to be pretty revolutionary, now they’re in an entirely different era that’s filling with exciting EV alternatives around every corner. Yet Tesla style still looks the same. The shoddy construction is still around and becoming more widespread knowledge. They’re failing to attract their target audience due to a long series of missteps. More problems.

Not to mention that Tesla was downright overpriced at its height. It’s a fraction of the volume yet made other automaker valuations look minuscule. The logic for that was never there.

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