In a market economy competition is relentless and catching up. Tesla is symptomatic for electric vehicles! They are no panacea!
Many Western governments heavily resorted socialist market interventions, high subsidies and central planning in the name of the fabricated climate crisis! This certainly did not help!
Many Western governments have run up so many high deficits and so much debt to fuel a long lasting price (and shrink) inflation not seen in decades! When food prices are sky high, who can afford an electric vehicle?
"After a period of rapid expansion, Tesla has seen its sales fall and its once-enviable margins shrink. While Elon Musk's company remains the world’s most valuable automaker by a wide margin, its market capitalization has tumbled by more than half since it peaked in 2021. For the first time in years, the biggest question for Tesla is not whether it will be able to make enough cars, but whether people will buy them. WSJ’s Rebecca Elliott has the inside tale of Tesla’s fall to earth."
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