Tesla had one of the greatest brands in history just a few years ago.
Elon Musk seems to be doing to Tesla what Trump is trying to do to the United States of America.
Electric-vehicle maker Polestar wants to capitalize on growing discontent around Tesla. Apparently, it’s working.
Last week, Polestar announced a special $5,000 discount for Tesla driverslooking to lease the company’s new Polestar 3 crossover. With that deal and another $15,000 of incentives to lessees, Tesla owners could get a $20,000 lease discount to become ex-Tesla owners.
On Friday, the brand’s U.S. head of sales said in a LinkedIn post: “This week saw some of the highest order days for Polestar 3, and the response to our Tesla Conquest Offer has been incredible.”
One of Tesla’s problems is that the stock has been defying gravity for many years with an absurdly high P/E ratio, so technically got room for a much bigger fall.
Worth remembering that Musk collateralized his purchase of Twitter, now “X”, with his Tesla stock. At a certain point, lenders may have to re-evaluate the viability of that collateral as the stock keeps tumbling.
Musk is taking the heat off of Trump, and will get thrown under the bus (by Trump) himself pretty soon, why when he had it all (and then some more) ?
This will happen as the boss is hight on ketamine and what else he is taking. What a shame and what a waste.