[elurg]

Car companies deserve to have a severely depressed valuation because they're currently being forced to transition away from internal combustion. The ICE manufacturing industry is the worst one to be in because government are determined to kill you.

Tesla doesn't have this overhang and is also growing very fast.

[throwayyy479087]

Car companies arguably operate in _the_ most heavily competitive and capital intensive industry on Earth. Like airlines, there's an argument that they can only manage to exist due to government subsidy. If Tesla evaporated tomorrow, Hyundai/Kia would likely eat their lunch; in a few years, GM will be ready.

It's a brutal business, which is why I think it's fascinating.