Next in EV: Tesla’s impact on the industry
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Next in EV: Tesla’s impact on the industry
Next in EV: Tesla’s impact on the industry
The 2023 New York International Auto Show is currently underway, drawing in enthusiasts eager to see the latest innovations in the world of electric vehicles (EVs). However, one notable absence among car manufacturers is Tesla (TSLA), which typically shuns traditional auto shows in favor of its own events. Despite its unconventional approach, Tesla continues to dominate the EV market in terms of production and scale, and the company has recently made headlines for its competitive pricing. Yahoo Finance Senior Reporter Pras Subramanian discusses how Tesla (TSLA) is driving prices down, making hybrids more accessible for consumers, as well as highlighting the company’s impact on the industry and how other automakers are adapting to the changing landscape. Click here to watch the Yahoo Finance special: Next in EV.
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Next in EV: Tesla’s impact on the industry
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The 2023 New York International Auto Show is currently underway, drawing in enthusiasts eager to see the latest innovations in the world of electric vehicles (EVs). However, one notable absence among car manufacturers is Tesla (TSLA), which typically shuns traditional auto shows in favor of its own events.
Despite its unconventional approach, Tesla continues to dominate the EV market in terms of production and scale, and the company has recently made headlines for its competitive pricing.
Yahoo Finance Senior Reporter Pras Subramanian discusses how Tesla (TSLA) is driving prices down, making hybrids more accessible for consumers, as well as highlighting the company’s impact on the industry and how other automakers are adapting to the changing landscape.
Click here to watch the Yahoo Finance special: Next in EV.
Video Transcript
PRAS SUBRAMANIAN: The New York Auto Show is here. And as attendees rush through the gates of the Javits Center to see what's the latest and greatest and what's next in the world of EVs, what they won't be seeing is this brand, Tesla. That's right, Tesla.
Tesla doesn't really go to auto shows in general or even industry events. They usually do their own thing, and what they've been doing lately is dominating the field of EVs from both the production but also a scale point of view. And now, Tesla is leading in a new area, pricing.
In the weeks ago, they threw down the gauntlet putting prices on the Model 3, Model Y cars by thousands of dollars. Rivals like Ford and even Chinese rivals have to cut prices in order to compete against Tesla's latest move. And right on cue, Tesla reported Q1 delivery numbers that were record highs for the company as they showed that cutting prices boosted demand considerably.
And 2023 is not only a big year for EVs and ESUVs in general but also pickups. This year at the show, the RAM revolution EV pickup will be there as well as the Chevy Silverado EV in addition to the Ford f-150 lightning pickup. Now, what's not going to be there again is Tesla and their Cybertruck. Cybertruck Kessel says has over 100,000 pre-orders and it will go into production later this year.
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