Tesla Demand has "Fallen Off a Cliff" -Kelly Blue Book
Recent news came out from Kelly Blue Book that demand for Tesla vehicles has fallen through the floor. They also say that everyone else wants other cars besides a Tesla and especially people want a Lexus. Is this true?
There is a problem with this news and that is the statistics and data. You have to wonder what is actually going on here. Lexus sales has fallen in the U.S. by nearly 36% and Tesla sales are twice as many. Lexus doesn't offer any compelling electric vehicle.
Using this news to try and make a car more valuable than it actually is seems to be what is going on here. Kelly Blue Book has become a bought and paid for company in order to make a vehicle that isn't transitioning to electric to be more valuable than it actually is.
Is Kelly Blue Book really telling the truth here? This is entirely false. Millions of people have seen this report and is it true? Is interest in Tesla vehicles collapsing and falling off a cliff. It looks like some other car companies and oil companies have paid for this "hit piece" on Tesla.
Tesla Demand Strong
Truthful coverage is important and one of the things that is very telling is how sales of most all other car companies are down year over year and Tesla's are positive and poised for around 50% growth.
If it was true that Tesla vehicles have fallen off a cliff then you have to assume that U.S. consumers no longer have an interest in EVs. Right now, there just isn't a lot of viable choice for electric vehicles. The news that there is a significant drop in Tesla interest from Kelly Blue Book is due to being paid off.
The Tesla Model 3 is the 3rd most desired vehicle according to the survey from Kelly Blue Book. It is also the #1 luxury vehicle. It is said that the Model Y interest has waned and it could be that the $7,500 EV tax credit has caused people to wait so they can get a credit for buying an EV.
Tesla has dominated the EV market in the U.S. for years. Other auto makers have been slow to transition to EVs. Tesla is outselling its electric vehicle rivals. Mercedes is the only EV company growing. Kelly Blue Book is saying that nobody wants Tesla vehicles.
Kelly Blue Book says the #1 luxury vehicle is the Cadillac Escalade, which sold just over 29,000 units for the first 3 quarters of the year. This is about 3,300 per month and this is the #1 luxury car? #2 is the Enclave, selling about 23,000 for the first 3 quarters. That's about 2,500 per month. The Tesla Model 3 sold 138,100 in the first 3 quarters, or about 15,400 per month.
Tesla sold many more times the number of vehicles as the "top selling luxury vehicles". The Model Y was 10th place in the Kelly Blue Book survey, but it has sold about 162,000 vehicles. Even more than the Model 3.
This report from Kelly Blue Book is paid for by another company. The data shows that this is completely false and Kelly Blue Book has lost credibility because of this.
What do you think of this report by Kelly Blue Book? Is it true?
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Jeremy Johnson is a Tesla investor and supporter. He first invested in Tesla in 2017 after years of following Elon Musk and admiring his work ethic and intelligence. Since then, he's become a Tesla bull, covering anything about Tesla he can find, while also dabbling in other electric vehicle companies. Jeremy covers Tesla developments at Torque News. You can follow him on Twitter or LinkedIn to stay in touch and follow his Tesla news coverage on Torque News.