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I saw a Rivian SUV yesterday.  It looked OK from the back, but I walked past it, of course it has the weird headlights.  It was in traffic behind a Tesla 3 at a red light.

Unrelated, the light changed and the first car started off as usual and someone in a Toyota Corolla blew through on red the other way, it was pretty close.

I can't believe how many people bought Cybertrucks.

Even if that number were only twenty-seven, I still wouldn't be able to believe how many people bought Cybertrucks.

Are EVs Really Going to Replace Gasoline-Powered Cars? - Autotrader

EVs remain less than 4% of the vehicles on American roads. Today, the average car in the U.S. is [color=var(--wp--preset--color--blurple-blue-500)]over 12 years old[/iurl], so replacing most vehicles on the road will take many years.[/font][/size][/color]

The California Air Resources Board voted to ban sales of new gas-powered cars by 2035, and some other states plan to follow California’s lead. However, the U.S. Energy Information Administration projects that shifting buyer interest to an EV-majority market might take several decades.

Predictions on consumer acceptance of electric vehicles vary. The CEO of Toyota Motor North America thinks EVs will make up around 30% of the U.S. new vehicle market by 2030. That’s half of what the EPA was seeking last year. Toyota reportedly will let consumer demand guide the automaker’s EV production rather than spend money investing in EVs without customers ready to buy them.

Hertz To Sell Off Even More EVs As Depreciation Losses Mount (insideevs.com)

I assume most rental cars are used to fairly long trips, maybe some at the airport are more local.  But you get to a new city, perhaps on an expense account, and you don't know about the charging infrastructure, and you stay with ol' reliable ICE-Vs.

Perhaps this could have been foreseen.

Tesla:

Let's take a look at a couple stocks and their 12-month forward PE ratio:

• Tesla / TSLA 62.9
• Ford / F 6.22
• General Motors / GM 4.79
• Toyota / TM 10.27
• Honda / HMC 12.98
• Volkswagen / VWAGY 2.54
• Merc / MBGYY 5.33
• BMW / BMWYY 5.87
• Rivian / RIVN (N/A, losing money so no earnings)

Why in the world would anyone think TSLA is worth that multiple? The forward EPS is $2.58. That's Ford territory ($2.08 forward EPS). Toyota's is over $22. 

Let's take a look at a couple stocks and their 12-month forward PE ratio:

• Tesla / TSLA 62.9
• Ford / F 6.22
• General Motors / GM 4.79
• Toyota / TM 10.27
• Honda / HMC 12.98
• Volkswagen / VWAGY 2.54
• Merc / MBGYY 5.33
• BMW / BMWYY 5.87
• Rivian / RIVN (N/A, losing money so no earnings)

Why in the world would anyone think TSLA is worth that multiple? The forward EPS is $2.58. That's Ford territory ($2.08 forward EPS). Toyota's is over $22.

I have no clue, and I don't trust that at all. I could see TSLA back at $190, maybe? It's at $167 today. Analysists are calling it "hold" for now. I suspect they are right.

At $140 a couple of weeks ago, it may have been a "buy" opportunity.