A Lesson For Telsa (and likely your business, too) - Something Cheaper Will Come Along

"Tesla is still dominant, but its U.S. market share is eroding as cheaper EVs arrive" - CNBC, November 30, 2022

Currently Tesla holds 65% of the EV market. By 2025, projects S&P Global Mobility, that could fall off the cliff to 20%. So far, only one of its offerings - the Model 3 - is priced lower than $50k. 

Meanwhile, just as Amazon had done, other players in the EV space could sacrifice the level of profitability to build presence in the EV niche. Their brands could become the first choice of those who decide to go the EV route. Given the regulatory climate of the Biden Administration auto makers are being pushed into producing EVs. They "have to be there." Therefore, they will make it their business to be the most popular brand. A major issue with EVs is, as we know, pricing. 

In the pickup segment, the initially troubled Lordstown Motors has made real progress. It is shipping the first of 500 of its Endurance trucks. As the EV market matures it could provide the kind of competition to Tesla which Elon Musk hadn't really thought through. Since Lordstown Motors could be the economic savior for the Ohio Valley of the Northeast there could be unusual support for it.

For most of our businesses, we have to anticipate a lower-priced competitor or multiple ones. Part of that shift is via technology. Eventually digital radically downsized the compensation for a broad range of content-creators. Another part is the vanishing middle class. Luxury whatever will continue to sell briskly at whatever price. Not so in the middle market and below. According to Lending Club, 64% of workers live paycheck-to-paycheck, reports US News.

Takeaway: Learn to operate our enterprises more cost-efficiently.

Burnt-Out? In transition in your career? Need more income? Healing from a professional setback? I can help you through Intuitive career coaching.

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