WATCH: @WarrenBuffett says @elonmusk is “winning” against @GM, @Ford, @Toyota https://t.co/edwIaDMA1R pic.twitter.com/UZVb1y5HGg
— Washington Examiner (@dcexaminer) April 14, 2022
Business magnate Warren Buffett lauded Tesla CEO Elon Musk for competing against big-name car manufacturers with just “an idea.”
Buffett appeared in an interview with Charlie Rose to discuss Musk’s rise to success.
“Tesla has more market value than all the other automobile companies combined,” Rose said. “What does that say?”
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“That shows what America produces,” Buffett replied.
“Elon is taking on General Motors, Ford, Toyota, all these people, who’ve got all this stuff, and he’s got an idea,” Buffett went on. “And he’s winning. That’s America. You can’t dream it up. It’s astounding.”
GM and Ford recently asked their dealers to stop jacking up the prices of their vehicles. Ford estimated that roughly 10% of its dealers were overcharging consumers.
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Toyota beat GM’s U.S. car sales in 2021, selling an estimated 2,332,262 cars compared to 2,218,000 cars sold by GM. It was the first time GM wasn’t the No. 1 seller since 1931.
