Economic data down, oil up, US dollar down, gold up, market pushing all-time highs. That’s about right, any more … Peter Schiff, Oracle on the mount, where are you?
– It wasn’t long ago the German car industry was still laughing out loud about Elon Musk and his Tesla Motors electric car company.
Competition works. Just ask the German car makers.
– Tesla sold more electric cars in Germany last year than any other brand and proved to be a formidable competitor even before the launch of the Model 3.
And when competition works, competitors step up or step aside. It is a choice.
– Dieter Zetsche, the chairman of Daimler AG, conceded this month that “Tesla has promised a lot but has also delivered most of it” and said there was now a lot of excitement in the industry about the “overall appearance and approach Tesla is taking.”
When competitors step up, industries move, shift, transform to capture market share.
– Zetsche said his company was now looking to deliver an all-electric car with a range of up to 310 miles.
Now, Porsche and Audi have accelerated plans to bring their all-electric cars to the market by the end of this decade. Why? Because competition works.
– Tesla has become the bestselling luxury car in Western Europe, according to a report by Automotive Industry Data. It said that its data showed Tesla’s Model S sales in Western European countries in 2015 hit 15,787 and for the first time surpassed Mercedes’ S-Class, which sold 14,990 cars.
And when it is all working, the market presents opportunity. Think auto industry shifting …