To put someone in their place, the quantity of words is unimportant. Sometimes, you just need one word to convey your thought and make an impact.
This is exactly what Ford CEO, Jim Farley did when he responded to Tesla CEO,Elon Musk.
As evident from his social media presence, Elon Musk often suffers from verbal diarrhea. His recent tweet was just a testament of that. Basically, he tweeted that Tesla and Ford are the only American carmakers that have not YET gone bankrupt. Of course, he could’ve stopped there, but he continued and made the comparison with the 1000s of other car startups and prototypes. Anyway, he said that production is hard and that being cash flow positive is essential.
He soon got an approval from the Farley, who quoted him saying Respect. This was kind of exciting for the fans, as they started leaving juicy comments underneath the tweet along with liking and retweeting it.
Look, we see how great Musk is and how much he has accomplished – it’s truly commendable. However, does that mean that he can make a sly comment on others? What Elon did is that he quietly acknowledged the bankruptcies of General Motors and Chrysler, which is now part of the Stellantis. We all know how it’s been a matter of great pride for companies to have stayed afloat during the great recession.
Elon Musk is a famous personality with over 48 million followers on Twitter. Jim Farley, on the other hand, has 27,200. He is actually preceding Hackett, who had retired from Steelcase office furniture. He also had zero social media presence during his three-year tenure.
Melissa Bradley soon made a quick remark and said that typical business communication etiquettes have now been reduced to 140 characters. She pointed ou thow social media has become the epicenter of political and business commentary. She believes that it’s better to be civil and demonstrate through practice that business can be competitive while staying respectful.
Musk is a self-made billionaire. He’s a 49 year old man who grew up in South Africa and now launches rockets and plans to colonize Mars. Farley, on the other hand, is a race car-driving son whose grandfather had worked in a Ford factory.
The two moguls have been in the spotlight as the all-electric 2021 Ford Mustang Mach-E has started stealing customers from Musk – pointed out by Adam Jonas at Morgan Stanley.
Tesla was originally founded in 2003 and has dominated the electric-car industry ever since. It has especially earned success through its Model S, Model 3, Model X and Model Y. Apparently, the recent line is sexy. Well, it’s evident from the 499,550 vehicles that it has managed to deliver in such a small time.
In Feb, Ford has sold 3,739 Mach-E SUVs in the first month of sales itself. This obviously got the attention of Wall Street. Anyway, Ford has gotten over 3,977 sales in the first two months of 2021 only. This must have hurt.
When news got out, Jonas came out with his analysis to Morgan Stanley investors and claimed that Mustang Mach-E stole major sales from Tesla.
He said: "Tesla's share of the BEV (battery electric vehicle) market declined significantly to 69% vs. 81% in the prior year. The Ford Mustang Mach-E accounted for nearly 100% of the share loss."
Michelle Krebs, who is an executive analyst for Autotrader.com has said that Musk has Ford on his mind. It seems like Ford is cutting their market and stealing profits efficiently.
He said that Mach-E is stealing the interest of Tesla customers, and it must be acknowledged that Tesla is soon going to lose its market share. In the month of February, Ford was Tesla’s biggest rival.
He further explained the situation. He asked people to review the sales number of Ford. He said that if they continue to pace up at that rate, they would soon become the bestselling non-Tesla electric vehicle—at least in this quarter. He added that Chevy Bolt has always been that competitor. However, it’s better for the numbers to unroll before we jump to the conclusion and announce results.
Whatever happens, we all know that Elon Musk is gearing up for a bigger bounce. He is surely planning something, otherwise he wouldn’t have tweeted that.
What do you think about the entire situation? Do you think that Ford can take Tesla’s place and become the number one car seller? It’s yet to be determined, but the early numbers have given us a hint.
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