Nine months ago, John O’Connell projected the trading frenzy that propels the cult of Elon Musk and Tesla’s stock will burn out.

The Chairman & CEO of Davis Rea Investment Counsel also said Tesla  “doesn’t have a monopoly on taste.”

We may be seeing some early signs of waning interest in the electric automaker’s vehicles, at least in China, based on a Sanford Bernstein survey. O’Connell’s opinions in this clip are as valid today as the day we spoke.

Here are hi-lights from the Bernstein survey via a Bloomberg article.


By Christoph Rauwald
(Bloomberg) — Tesla buyers remain “fervent supporters” of
their vehicles, but enthusiasm appears to have waned
particularly in China and more customers might opt for a
European luxury brand in future, according to a Sanford
Bernstein report based on a survey among 457 owners.

* Results reflect longer average ownership period compared to
prior Bernstein surveys, which probably led to initial buyer
euphoria cooling off, as well as a broader choice of competitive
electric vehicles from rivals.

* Tesla still boasts strong brand and passionate consumer
following, but “China’s results – while statistically not
conclusive – are modestly worrisome.”

* “Service remains Tesla’s Achilles heel.”

* Almost 40% of Tesla customers come from German premium brands.

* “New lower-priced Tesla offerings (Model 3, Y) aren’t
necessarily attracting a more mass-market buyer, a departure
from our last survey.”

Related stories: Five Speedbumps to Mainstream EV Adoption – via Visual Capitalist