Home Business Not A Merry Christmas For Tesla In The Netherlands: Wahlman

Not A Merry Christmas For Tesla In The Netherlands: Wahlman

Whitney Tilson’s email to investors discussing your next car may let you drive hands-free. Is that a good thing?; debate on EV adoption; not a Merry Christmas for Tesla in the Netherlands.

Get The Full Series in PDF

Get the entire 10-part series on Charlie Munger in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues.

Q3 2020 hedge fund letters, conferences and more

1) A recent article in the WSJ (full text below): Your Next Car May Let You Drive Hands-Free. Is That a Good Thing?

Debate On EV Adoption

2) Interesting tweet:

A friend’s reply:

Actually that "point" misses the obvious and real point entirely: Sales of new and ICE cars in Norway are declining for the exact same reason they are declining in other places too -- Taxes and de-facto subsidies.

If you tax ICE vehicles 100% extra excise tax, plus VAT 25% on top of that, plus exempt BEVs from all sorts of (parking, ferry, carpool lane etc) fees, plus the annual vehicle registration tax, then obviously fewer people will buy ICEs -- new and old alike.

This is not a mystery.  The government said "Tax pizzas 125%, abolish all taxes on hamburgers."  Small wonder then, that people eat more hamburgers than pizzas.

Not A Merry Christmas For Tesla In The Netherlands

3) Anton Wahlman’s latest: Not A Merry Christmas For Tesla In The Netherlands. Excerpt:

  • In December 2019, Tesla sold a whopping 12,053 Model 3 units in the Netherlands. It was 13% of Tesla’s entire global automotive unit sales for the entire quarter.
  • This year, as of December 24, Tesla is on track for a 60% decline in the Netherlands. Mind you, that’s a 60% decline in absolute numbers.
  • Which is worse, the decline in absolute numbers or the loss of BEV market share? Tesla isn’t even leading the BEV sales charts in the Netherlands anymore.
  • New competitive models from Volkswagen and Volvo/Polestar have now matched or overtaken Tesla in short order. Hyundai too.
  • Tesla is increasing sales in China, but in places such as the Netherlands, it’s losing both market share and absolute numbers of unit sales. Competition in Europe is growing fast.