Tesla is now worth 1 trillion dollars ($1,000,000,000,000). Toyota is worth about $250 billion dollars ($243 billion to be exact). How can Tesla be worth that much money when they can't even build a car that can last 100k mileage problem free? If Tesla's quality is lower than ever, how could it be worth that much?
I also asked a question on here about Tesla in general here: https://carkiller.com/scottykilmer/qa/tesla-longevity/
Because people frequently have unrealistic expectations driven by emotion. Hertz just ordered 100,000 of the stupid things, so investors flock like lemmings running over a cliff. Has Hertz made a mistake? Well they'll no doubt be dumping them before the batteries are shot (they don't keep cars that long). It depends on how many people rent for relatively short trips versus cross-country trips which Teslas are not really suited for. The only time I've ever rented was for long trips so no Tesla rental for me. (I would not want to rent one anyway for other reasons.)
In short, it's a bubble. It will burst, as bubbles tend to do.
Because Tesla is the latest status symbol. It's the BMW/Mercedes for millennials. You can be a mindless consumer while earning brownie points for pretending to care about environmental causes, all while signalling wealth and status to bolster your ego. It's a rather comical paradox. You might as well buy Louis Vuitton purse with a black lives matter patch, made in an African sweatshop.
My city, Vancouver has the highest number of sheep... oops I mean Teslas per capita in North America. I see them everywhere.
Did they also make a ban on gas cars? I heard that by 2040, all gas cars (used ones included) are supposed to be banned in that city. By then the only vehicles that you could only drive are net-zero vehicles.
Of course, the government is herding people into to the Tesla dealerships.
"The Province of British Columbia passed the Zero-Emission Vehicles Act (ZEV Act) on May 30, 2019. The ZEV Act requires automakers to meet an escalating annual percentage of new light-duty ZEV sales and leases, reaching: 10% of light-duty vehicle sales by 2025, 30% by 2030 and 100% by 2040."
https://www.bclaws.gov.bc.ca/civix/document/id/complete/statreg/19029
I did hear about the push for EVs in BC. We did have the push for selling lots of EVs here in Ontario, but in 2018 the premiere (he's a conservative) removed the $14 000 EV credit so now they are less affordable.
They are worth nothing to me.
Some people pay millions of dollars for art, that if I didn't know it's "value", I would haul off to the dump to get it out of my house.
That doesn't mean anything to me since Tesla makes junk. I always get comments from Tesla fanboys about how great Tesla cars are and others that are not Tesla fanboys but have them just to see what they are like and they have been nothing but a nightmare at low mileage. The build quality is horrendous and they have had to spend money on stupid repairs to the body parts, the paintwork, and thanks to the poor dealership network, long wait times too. Compare that to our 2017 Ford Focus Electric, build quality IMO isn't the best with the Ford but ok enough, but we have barely spent any money on maintenance and repairs. The water pump did fail on us but it was replaced under warranty and recently one of the halogen taillight bulbs fused out and it was a simple $15 CAD fix where we took out one of the taillights and put a new bulb in it, and a small plastic speaker grille in the rear seats needs a replacement since it cracked, other than that it's been a very reliable car at 44 000 km. We have spent less money maintaining and repairing the Ford compared to our old 2008 Honda Civic and our current 2016 Honda Odyssey. Tesla IMO is like Apple but in all the worst ways possible. I like Apple and enjoy the Apple Ecosystem (all my Apple products have been very reliable and they have good resale value), but the Tesla ecosystem while the supercharging network is reliable, I can't say the same for their cars. Plus resale value leaves a lot to be desired.
