Monday, January 21, 2019
This Week in Musk World
Big news in that Tesla received permission to sell the Model 3 in Europe. Another big market but I still don't know what homologation really means. The Model 3 is one of the best selling cars in the US can you imagine the impact to the bottom line if the Model 3 also becomes one of the best selling cars in Europe?
Let's not forget the Model S which represented 37% of the large luxury cars sold in the US (see graph above). Will those cars also become status symbols in Europe? Even Cadillac now admits that Tesla is now the leader of that pack.
Status symbol may be what is required for the Tesla Model 3 or Model S to be successful in China where a glut of electric vehicle models and manufacturers supposedly exist.
Tesla's stock took a hit on Friday as Elon Musk announced a 7% reduction in workforce at Tesla. The layoffs are to cut costs and increase profits.
Tesla also continues to tease the Tesla Semi. The teases even include test drives for the lucky few.
Reminder - the Tesla customer referral program which gives a friend 6 months of free supersharging ends February 1st.