Who is Tesla going to sell all the vehicles from its new factory? They have been giving so many incentives every quarter to boost their numbers. I see a massive short opportunity in Tesla https://www.reuters.com/business/autos-transportation/slow-selling-evs-are-auto-industrys-new-headache-2023-07-11/
Sounds more like the auto market continuing to normalize after supply chain disruptions and rising interest rates.
I don’t think you understand Tesla business model. You aren’t the first one who attempted shorting and got their hands burned. Stats I believe are less than 2% EV market penetration so ample room to grow. Tsla is plying on scale now and can still sustain. The guy knows how to run his business. Look at common charge that GM ford etc will use. Don’t forget solar within Tesla. Fed subsidies of 30% on solar are gonna balance out the less margin on EV.
Downward pressure on prices of EVs for sure as we saw in recent Tesla incentives.
I think you misread or too quickly read the article? Legacy OEM (GM, F, Toyota, Hyundai as specifically called out) are sitting on already crazy and rising days of inventory. (quoted at > 90 days unsold EVs). The missing punchline is that Tesla inventory was at only 16 days or so earlier in the week when in the best of times automotive days of inventory for the industry is something like 60.
It's a race to the bottom.