We plot the movement in stock prices of a few major automobile manufacturers (through 2022-12-30). Time-series were normalized to have the same starting value of 100. It’s been a tough year, particularly for Tesla:
- Percentage Change (end of 2021 to 2022-12-30) ranged from a slight gain of 1.7% for BMW, to a 65% decline in Tesla’s share price.
- The Maximum Drawdown (over the given period) was 28% for Mercedes, and 73% for Tesla!
- Tesla really began diverging from the rest of the group around November 2nd, this was a week into the change in ownership at Twitter, and right around the time when major layoffs at the social media company were revealed.
- As 2023 approaches, Tesla is likely to see increased competition from other electric vehicle (EV) manufacturers, including those based in China and companies who are rolling out EV pickup trucks. Additionally, the market for EVs may also be impacted by the introduction of more appealing hybrid models, such as the 2023 Toyota Prius.
This is an interactive chart, and controls in the upper right corner will let you go to full-screen mode:
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