I think Tesla has five things in its favor. First, Congress eliminated the 200,000-car cap on the Federal tax credits. Second, Tesla has a huge backlog on its Cybertruck. Third, its battery and solar operation continue to grow. Fourth, Tesla's stock is down pretty low making it a good candidate to bounce once the economy turns around. Fifth, Tesla is becoming a bit of a cult car among Tesla enthusiasts. This last advantage reminds me of when Apple was competing against cheaper phones and computers and yet its fans kept buying Apple.

I understand this as I own a Tesla and my wife as a Kona EV. I don't like driving her car and it would take a lot for me to buy a non-Tesla and give up features I like. My wife on the other hand doesn't like my Tesla, but other than not liking my Tesla has no other brand preference as we begin to look for her next car.

Unclear and pretty significant is the impact of Covid on Chinese operations and when the new Indonesian factory will be operational. I think of it as... I own a computer with wheels and my wife owns an EV.