About an hour ago on CNBC new panelist Mark Tepper advised viewers to sell Tesla shares, because Model S & X test drives are down 50% year over year. I have no idea where he got that information, but if true:
A temporary dip could have been expected when tax credits were halved. Three more months of free Supercharging is now given to those who choose not to test drive. A car can now be returned for a refund within three days with no questions asked if no test drive was taken. Since most of those cars are made to order, one cannot easily test drive a particular car and then choose to buy it. There are now so many of those cars out there that a great many prospects can now test drive a friend’s car.
By incentivizing not to test drive, fewer employees and test cars are needed at Tesla stores. The business decision to discourage test drives is a sound one. It’s added reason to buy the stock, not sell it.