Name: 为什么特斯拉比其他汽车制造商更能生存（Why Tesla Is Better Positioned To Survive Than Other Automakers）
Uploaded: 2021-05-24T06:58:36.000Z
Duration: 17 min 27 s
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Tesla has defied all laws of probability.

情態副詞

It's incredible the seemingly turnaround out of nowhere that they've

pulled off despite all of its issues around Elon's behavior.

This company is fundamentally changing how people move around.

But now it may face its biggest challenge yet as coronavirus crushes

the global economy. In the U.S., GDP retracted at a rate of 4.8

percent in the first quarter of 2020, and the Federal Reserve warned

We're going to see economic data for the second quarter that's worse

than any data we've seen for the economy.

More than 33 million people have filed for unemployment since March,

which means that at least 33 million people will most likely not be

Anytime there's a con traction to consumer confidence, consumer

spending, automobiles are one of the first things to take a big hit.

And the pandemic has shut down production for all U.S.

automakers. Tesla CEO Elon Musk clearly feels the pressure.

This frustration is boiling over when you have that much asset

concentration in one factory, it's producing 70 percent of your

vehicles. This shutdown is really crippling.

So how can the electric carmaker get through this economic standstill?

Here's a look at why some experts say Tesla may be better position

Tesla was founded in 2003, so it already survived the Great Recession,

but it was different times for the then private company.

In 2008, it was just starting to deliver its first car, the Roadster.

The luxury market actually typically offers better than the mainstream

brands because people with discretionary spending money can continue

Meanwhile, the big three were getting a bailout in the midst of a

Allowing the U.S. auto industry to collapse is not a responsible

course of action. The bailout of the auto industry back in 08', 09'

was considered very necessary because it saved thousands

bankrupt and fail, it would have a ripple effect across the entire

U.S. economy. Prior to the Great Recession, a lot of automakers kind

of got into some hot water because they were overproducing.

There were some automakers that were just selling cars just to sell

cars just to satisfy these production contracts.

And of course, that's not really a great way to do business.

So when the Great Recession came along, all of that essentially

collapsed. Tesla on the other hand, never really had that problem.

The industry is in a much better position to deal with an economic

downturn now than it was then, simply because it doesn't go in

already being well over capacity and having a lot of inefficient

And I think Tesla was probably never really at risk of those issues

because they've been a relatively small volume maker.

I think it's much easier for Tesla to quickly moderate and modulate

its production capacity during a downturn.

He's got the flexibility to add a tent, which means he's got the

flexibility to remove a tent when necessary.

But this downturn is unlike anything that has happened before.

And the timeline for the recovery is still unclear in terms of like

some of the big events that people have compared it to, things like

9/11. There is an immediate recovery the month after 9/11 in October.

We had the highest seasonally adjusted annual rate of the automotive

industry ever. And then when we look at the recession, it took years

It was such a slow recovery that this doesn't feel like it's the same

either again. So people keep wanting to draw parallels, but just

haven't seen a good line in terms of like where this actually falls

in the spectrum. What's been fascinating about this particular

circumstance is that the car industry, as well as the economy in

It's been doing well over the last few years, selling about 17

million new cars a year, which is a very high number.

So the shift in momentum, unlike the previous economic downturn, that

happened relatively quick in most people's opinions.

So that's a big difference from the last time around.

And while a specific bailout for the auto industry is not part of the

two trillion dollar coronavirus relief package, nothing is off the

table yet. There's already talk of doing a very specific automotive

financial assistance program from the government.

12 years ago, we had the cash for Clunkers.

There's talk of doing the same thing coming out of this.

And I think the automakers might be very much dependent on that to

But for for the Detroit three, we see a high risk of another bailout,

the worst month in decades in terms of auto sales in April.

We think this weakness and new vehicle sales is going to last for some

For an idea of whether Tesla is financially stable enough to get

through this, let's look at its first quarter earnings.

All of the major automakers had a rough first quarter, but Tesla was

able to eke out a 16 million dollar profit propelled by strong demand

It was a much better than expected quarter.

Their automotive gross margins, most importantly, were very strong,

So they're really improving the profitability of the auto business.

A lot of that reflects the new factory in China, which started up

late last year and is still in the ramp up phase.

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为什么特斯拉比其他汽车制造商更能生存（Why Tesla Is Better Positioned To Survive Than Other Automakers）

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