Elon Musk trolls GM, Chrysler on Twitter. Ford CEO responds with 1 word.
Only one word.
That's all Ford CEO Jim Farley used Friday to respond to Tesla CEO Elon Musk.
"Tesla & Ford are the only American automakers that haven't gone bankrupt from thousands of auto starts. Prototypes are easy, production is tough, and positive cash flow is unbearable," Musk tweeted Thursday.
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EKİCİ PEYNİR AİLESİ. Sütün en iyisini seçip, ondan sadece peynir yaparız. İşte bu yüzden peynirlerimizin adı aklınızda, tadı damağınızda kalır.
Farley retweeted Musk early Friday and just said, "Respect."
The response on Twitter was quick with likes, retweets and sharp comments.
Musk, of course, tacitly acknowledges the bankruptcies of General Motors and Chrysler, which are now part of Stellantis. Staying afloat during the great recession a decade ago has long been a point of pride for Ford.
Elon Musk has 48.5 million followers on Twitter.
Jim Farley, who took the helm as CEO on October 1, now has 27,200.
Farley succeeds CEO Jim Hackett, who retired from Steelcase office furniture and was absent from Twitter during his three-year tenure.
"Today's tweet shows that businesses can be competitive and respectful," said Melissa Bradley, an economics professor at Georgetown University.
Ford boss Jim Farley will be in Dearborn in September with the fully electric Mustang Mach-E 2021. This photo was taken during a video shoot to support the launch of Mustang Mach-E in China at the 2020 Beijing Auto Show.
49-year-old Musk is a homemade billionaire who grew up in South Africa and is now launching rockets into space. Farley, 58, is an auto industry son whose grandfather worked in a Ford factory.
The two executives were in the spotlight this week as the all-electric Ford Mustang Mach-E in 2021 began stealing customers from the dominant all-electric automaker, as characterized by Morgan Stanley analyst Adam Jonas.
Tesla was founded in 2003 and has dominated the electric vehicle market with its S, 3, X and Y models. Enthusiasts refer to the product line as SEXY. Tesla delivered 499,550 vehicles in 2020.
Elon Musk, CEO of Tesla, next to a Model X electric sport utility vehicle during a presentation in California in 2015.
In February, Ford sold 3,739 Mach e-SUVs in its first full month of sales, which caught Wall Street's attention. According to sales reports, Ford sold 3,977 Mach-Es in 2021.
Published his analysis Tuesday for Morgan Stanley investors and for the media on Wednesday, Jonas said, "Mustang Mach-E is stealing large Tesla sales" and "Tesla's share of the BEV (battery electric vehicle) market fell sharply to 69% 81% down last year. The Ford Mustang Mach-E accounted for nearly 100% of the stock loss. "
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Michelle Krebs, executive analyst at Autotrader.com, said Musk's tweet shows Ford is high on the list. Purchasing data shows Ford is immediately cutting profits at Tesla, she said.
"The Mustang Mach-E arouses the interest of Tesla buyers," said Krebs. "We have to acknowledge that Tesla is going to lose market share. It was 100% and cannot stay at 100% when competitors enter the market. In February, Ford was its biggest competitor."
"If you look at the sales for Ford, if they keep going at this pace, they would be the top-selling non-Tesla electric vehicle this quarter," she said. "Chevy Bolt always has been. We're waiting for these sales figures."
Contact Phoebe Wall Howard: 313-222-6512 or firstname.lastname@example.org.
This article originally appeared in the Detroit Free Press: Elon Musk tweeted about Ford and Tesla, then Jim Farley replied
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