Luxury and traditional car companies enter the market

"We will never launch a hostile takeover, but if a car company thinks it is a good idea to merge with Tesla, we are happy to start a dialogue with it." Recently Tesla CEO Elon Musk participated in Axel? Springer activity once answered this question when asked whether it would acquire traditional car companies.

There is no doubt that in a narrow sense, Tesla should be the most successful new force in building cars so far. As of the close of 65438+February 3, Tesla's share price reached $593.38, with a total market value of $562.465 billion. Toyota, known as the "most profitable car company", has a market value of only19131400 million US dollars. Only ten years after its birth, Tesla's market value has surpassed that of two Toyota's, and its growth rate is amazing. It can be seen that its rhetoric of "acquiring traditional car companies" is not groundless.

However, is Tesla's surface scenery really as smooth as everyone thinks? Behind "deep pockets", how strong is its strength? In fact, after in-depth understanding of Tesla's situation, I believe that everyone will feel the "pressure mountain" behind Tesla, and the development of new forces to build cars will not be realized overnight.

The stock price is artificially high, and the acquisition of traditional car companies has advantages and disadvantages.

In recent years, I believe that everyone has become accustomed to the skyrocketing stock of the new forces that build cars. As far as China automobile brands are concerned, Weilai, Ideality and Tucki have been listed one after another, and the current market value has exceeded 20 billion US dollars, ahead of established automobile brands such as Kia and Nissan; Since the emergence of blade batteries, Korean EV and other technical products, BYD's stock has reached a new high, once surpassing Daimler, General Motors and other "traditional fuel giants".

Obviously, the automobile industry is closely related to everyone's life, and new energy technology represents the future direction of the automobile industry with broad development prospects; It is not difficult to understand the preference of the capital market for new energy stocks. Therefore, it is natural that Tesla, as a leader among new energy car companies, later became the car company with the highest market value.

Will the capital accumulated by traditional car companies for decades or even hundreds of years really be "easily surpassed" by new forces? Tesla is also very clear: "Impossible." Musk said in an internal email released on Tuesday that Tesla's share price is gratifying because investors have high expectations for it; Once this doesn't happen, the stock will be as vulnerable as souffle under a heavy hammer. It is worth mentioning that in 20 19 years, Tesla's profit margin was only about 1%.

In other words, at least at this stage, the actual value of Tesla is not as high as the "market value". Behind the stock price figures, it is only because of Tesla's expectations. At the same time, in order to maintain this "high hope", Tesla needs to enhance its profitability. Its cost control, productivity increase speed and performance may determine whether its share price is "real money" or "empty bubble".

Compared with investing in a factory, Tesla's acquisition of traditional car companies and cooperation with them to produce pure electric vehicles are less difficult to operate, with short turnaround time and less capital consumption, which is a way to solve the current dilemma. But on the other hand, the acquisition funds are not a small amount, especially for the automobile industry with heavy assets. After Tesla's acquisition, it needs to control capital expenditure more accurately. When and how to get out of this step is a big problem for Tesla.

Competition intensifies, and it is a long way to go to stabilize the market position.

As the "pioneer" of the pure electric vehicle market, Tesla had a difficult early development, and now it is finally "striving for strength". Models? Third, it is a well-known automobile market, and its technologies such as endurance performance and assisted driving are far ahead, which has caused considerable pressure on other new energy brands and even traditional fuel vehicle enterprises.

Does Tesla really have no rivals? At least from 2020, this issue needs to be marked with a big "question mark". Take the sales of pure electric vehicles in Europe in May 438+10 as an example. Volkswagen ID.3, which has only been listed for two months, topped the list with a monthly sales volume of over 10,000, showing the technical level and market appeal of the Volkswagen brand. Comparatively speaking, which model was squeezed out of the top ten? A slight decline is inevitable.

In addition to Volkswagen, luxury brands such as Mercedes-Benz and Porsche have also begun to lay out the pure electric market. In this case, the model? S, model? X will also become "the target of public criticism" and face more severe market challenges. Objectively speaking, Tesla has cultivated the habit of global car owners to accept pure electric vehicles, which is very important in the hearts of car owners; However, the influence of traditional fuel brands cannot be ignored.

Looking to the domestic market, Tesla's current situation is not optimistic. I still remember that Tesla enjoyed preferential policies such as low-cost land acquisition and low-interest loans at the beginning of building a factory in China, which made many China automobile brands quite envious; However, in order to obtain this preferential treatment, Tesla signed a "gambling agreement", that is, from the end of 2023, the annual tax payment must reach 2.23 billion yuan, otherwise it is necessary to return the corresponding land, which can be described as "heaven in the heart and hell in the dream".

Under such pressure, Tesla had to step up the localization process and control costs. Even under the nickname of "cutting leeks", it still has to cut prices to expand sales and improve profitability. According to industry analysts, if Tesla wants to achieve this goal, it needs to reach an annual output of 500,000 vehicles. However, according to the cumulative sales volume of 92,000 vehicles in 1- 10 this year, and the monthly sales volume is stable at around 10,000 vehicles, Tesla still needs to redouble its efforts.

In addition, at the end of last month, the National Highway Traffic Safety Administration said that it had conducted a front suspension safety investigation on 1 1476 1 Tesla car. Is the model under investigation a flagship model? S and Model? 10. Therefore, Tesla will not only face the cost increase brought by large-scale recall, but also the brand image will be discounted. Coupled with the strong entry of traditional car companies, we can only do and cherish it in the future.

Conclusion: It is undeniable that Musk has an adventurous spirit of "breaking the inherent boundaries and exploring new things" in his bones. Otherwise, there will be no car brand like Tesla that changes the way people travel. However, Tesla still faces many challenges. Courage is not enough. Planning every step in the future can truly reflect its value.

This article comes from car home, the author of the car manufacturer, and does not represent car home's position.