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It's easier to win a game when you play without an opponent. And that's largely the position You're here (NASDAQ: TSLA) ended up in, especially in the US market. First rivals of the all-electric vehicle competition, as General Motors & # 39; Chevy Bolt and the Nissan The leaves were smaller and, frankly, not as fresh.
But new all-electric offers from Porsche (OTC: POAHY) and a crossover SUV inspired by Mustang Ford were a cause for concern. It might be easy for a super-cool Tesla to trample a subcompact sedan, but could the S and 3 models withstand a classic German luxury brand or an American icon?
The first signs suggest that, yes, he might be able to do just that.
The electric vehicle manufacturer Tesla has had little direct competition in the United States. Source of the image: Tesla.
First in the ring
The first car that was raging during its development as a potential "Tesla killer" was unveiled: the Taycan Porsche. In August, he set an unofficial record of an electric car on the German circuit Nuerburgring, 16.12 miles long, lasting 7 minutes and 42 seconds. And when a photo emerged showing a Taycan passing in front of a failed prototype of Tesla Model S – which had also come to try its luck on the famous track – it seemed like it could prove a fierce competition.
However, in September, the prototype "Plaid" version of the Model S set a new record for electric cars at the Nürburgring at 7 minutes 23 seconds, beating the Taycan by almost 20 seconds. Now, there are many warnings at this time, including the fact that it's two prototype vehicles, and that a car is not limited to its speed. In terms of raw performance, however, Tesla has no impact.
In terms of range, the Model S also seems to outperform its German rival. The US EPA indicates that a Tesla Model S "Long Range" (the base model) has a range of 370 miles. A European evaluation system, the Harmonized Worldwide Light Vehicle Test (WTLP) procedure, gives the Taycan a range of just 279 miles, according to Porsche. Although it is not exactly a comparison of apples to apples, it seems that the Taycan will not have the range of a Model S either.
More importantly for consumers, the basic Taycan model – the Turbo – starts at $ 150,900 in the US (it's still a Porsche). This is almost twice as expensive as the base model of the Model S (current retail price of $ 79,990). Even in the world of luxury automobiles, this difference in price is important enough to deter many buyers. Taycan seems unlikely to significantly reduce Tesla's sales.
Up for (re) sale
The current prices of cars can only tell you more. A better measure of the value of a brand is what cars can order for resale. As a general rule, the more desirable the vehicle, the higher the price of a second-hand vehicle can be.
This is certainly the case in the United States for Tesla, where the Tesla Model S has retained a percentage of its value higher than other cars in its class, according to an Autolist study. The study indicates that a used X model with more than 50,000 miles will lose an average of 23% of its value. The Model S is getting worse, losing 27% of its value (the Model 3 is still too recent to get enough data on resales). Meanwhile, gasoline vehicles lose on average about 36% of their value after 50,000 miles.
We now have evidence that Tesla also outperforms other electric car manufacturers, thanks to a new report on the Chinese electric vehicle resale market, published by the China Association of Automobile Manufacturers. There are many non Tesla electrical systems available in China, including Roewe's ERX5 SUV and the Denza 500 sedan. Denza is a joint venture between DaimlerMercedes and the Chinese manufacturer BYD.
In China, used Teslas are absolutely overwhelming in terms of value retention, losing only 23.8% (Model X) to 25.9% (Model S) of their value when used, versus 52, 6% for ERX5 and 54.1% for Denza, the closest competitors.
Now, it is possible that this is due to the perception of a higher battery life by Teslas. But the perceived outperformance is an element of brand strength, and the data here suggests that the Tesla brand can defend itself and then against other EV manufacturers.
The danger comes from the inside
None of this proves that competition will not hurt Tesla's sales. Given the number of car manufacturers among the largest in the world, it's probably only a matter of time before one of them finds a winning formula: a full vehicle great and very powerful at an attractive price. However, for the moment, it seems unlikely that a vehicle from the "Tesla Killer" in competition will knock him off his pedestal.
That said, Tesla and its investors are not lacking in concerns, including the company's lack of consistent profitability and shrinking margins, with the cheaper Model 3 surpassing the more expensive Model S and X models. Unless management can solve these internal problems, the "Tesla Killer" could turn out to be Tesla himself.
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