Week 4: How Tesla compares to other electronic/non electronic car companies:
(How they compare and destroy they’re competition long-term. Future plans/ideas.)
By: Enoch Parker
By: Enoch Parker
Tesla motors is a company that entering new territories in the auto industry today. Chairman Elon Musk is meeting all of his current business and engineering goals each year and they plan to unveil the new Tesla Roadster in the Fall of 2018. The main competitors amongst the new car moguls are Ford and General Motors which are each growing in size and popularity amongst drivers in the United States. "In comparing Ford, GM, Toyota, BMW, and Volkswagen’s marketing capitalization for the last two years (from Q1 2015 to Q1 2017) against Tesla’s, we found that Tesla was the only auto company that saw an increase (44.6%) in market cap. The market cap for all of the other auto companies fell, either a result of falling stock prices or share buybacks. (MediaKix)"
Tesla is hoping to reach 500,000 production estimates of their illustrious Model 3 vehicles by 2018. The thing that makes Tesla different than its competitors is that their brand is a not just a car but essentially its a lifestyle. Every other car brand establishes their brand to sell as many production gas powered vehicles whereas Tesla produces eco-friendly electric powered cars to make a safe environment and to also slowly introduce future alternatives for American motor vehicles. General Motors spends the most money on its advertising budget than the other competitors at an estimated 5 billion dollars. This gives us great insight on how they are outselling the competition and advertising is everything because that is what sells your product at an immense rate.
In conclusion, Tesla motors predicts that by the year 2020 they will have taken over the car industry with its new electric car concept which will save us energy and leave us with cleaner air for our society.
Sources: http://mediakix.com/2017/07/tesla-vs-the-world-infographic-model-3/
Comments
Post a Comment