More fun context through data... As I noted above, Tesla manufacturers about 1,400 cars/day in the US, and they were delivering them as fast as they could make them in late December. Now that the incentives are gone, inventory is back up to its early December level. A little higher than November, but historically consistent. Tesla pulled-forward a ton of deliveries from 1Q2023 into 4Q2022. So, they should stabilize to their new normal after a few weeks. It will be interesting to see the inventory level and trend in February.
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