Paying Attention:
Tesla is now the dominate brand in the luxury car market in the USA, according to this article from Bloomberg.com. Anyone surprised? Don’t be: a new business model in an industry that clings to the past; rapid iteration product improvement; software upgradable performance and features; and no product or cultural legacy issues to deal with enable the company to be more agile and creative than their competition. How’s it working out? Tesla has twice the market share of BMW in the luxury car segment, and almost twice that of Mercedes, with a 32% share of the U.S. large luxury sedan category. They also have a 186,000+ order waiting list for their new Model 3.
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