I discussed this issue a bit in this thread.
I still can’t figure out why Teslas market cap is so high. Their market cap on face value should be around 50-100 billion. Not 1.1 trillion. It has dropped a little bit from 1.3 trillion, but still.
The only reason teslas sell so well in the US is because of tariffs on Chinese EVs, and because no other car company is capable of building a good EV to sell in the US yet.
Internationally, Tesla is losing market share to Chinese manufacturers like BYD.
Tesla seems like they are 5 years away from their cars being mostly lost in the crowd. They can’t compete with China, Musk has driven away his left wing buyers, and once non-Chinese EV makers enter the market then Tesla will have even more problems.