Tesla stock

How I wish that were true

 

But that was when they had little credible competition and competitors were not producing in volume. Is it different now?

 

Sure, nothing is ever exactly the same.
As you said, competition can build more cars now than they could in ~2018.
On the other side of the coin, rebates (hypothetically) will be pulled for all companies, not just Tesla. So the playing field will remain even.

All the other companies have discovered making BEVs isn’t as easy as they said it was going to be 10 years ago.
Fisker has gone bankrupt (twice).
Ford has discovered how much work they have to do to get their production process in order.
Toyota discovered ‘going it alone’ led to a rather poor result and is learning from it.
GM didn’t have the ‘bandwidth’ to promote both a PHEV & BEV.
Rivian found themselves with a great product, but can’t handle the financial side yet.

Some of these companies have/will fail.
Others will succeed.
The market for BEVs will continue to grow.

 

But there are a lot of other competitive EV makers. Notably ones from South Korea. And there are more PHEV models now available which serve as competitive options for folks who fear the pure EV "stories". And as the Y acquires the different controls from the 3 will that serve to drive people to competitive brands. And as the NACS standard helps other brands over time be close to equal...

Of course today's events may throw all of that semi rational thinking into chaos.

 

I've been hearing those 'what if's for a decade now. I don't see any of these as a realistic concern. Tesla has a better balance sheet than any of them. Tesla is also increasing the size of their moat dramatically over the next couple of years.
Fewer and fewer people are being fooled by the pure EV 'stories' as more and more people have a neighbor or relative that owns one.

I don't believe the new controls system of the three has slowed sales. Some will be turned off by it, others will find they like it (like me).

Ten years ago there were a lot of things that could have doomed Tesla.
Today, there isn't much that can do more than bruise them.
Heck, their energy business is enough to sustain itself, and in a few more years could eclipse their cars.