
The 50k inventory spike is accurate. But framing it as “Tesla is no longer king and is begging” overstates it. In 2021, constrained supply created artificial scarcity. In 2026, higher output + softer macro EV demand = inventory. Most automakers would kill for Tesla’s volume and share even in a tough quarter. The real story is whether Tesla adapts faster via cost cuts, new models (e.g., refreshed/affordable variants), and its non-auto bets.
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