Musk has performed a miracle: He created an entire industry and forced legacy giants to get off their lazy butts and move. He has shaken them up. And now they’re moving.
To face this competition, Tesla has been cutting prices all year, which is pushing down EV prices globally. This just doesn’t happen with internal-combustion-engine (ICE) vehicles. They know only one way: price increases. With ICE-vehicle prices rising, and with EV prices falling, it doesn’t take long for the price advantage to shift to EVs – especially given their lower operating costs (juice and maintenance).
Tesla is losing its status as trailblazer and is becoming just another competitor in an industry dominated by giants. Tesla created a fabulous brand (“Tesla”), and for people who like to buy fabulous brands, this is a pull. But for other car and truck buyers, it’s not a pull. What they want is a well-made, reliable, and all-around good vehicle, backed by competent and easily accessible service and availability of parts – which the giants have finely honed for decades.Tesla v. GM v. Ford: Sacrilege to Mention Them in the Same Breath, But Here We Go | Wolf Street