David Rosenthal: belief

Transcript context

…Yes. Last year, they delivered about 350,000 cars. This really is a scale organization at this point. This is not Ferrari, this is not Lamborghini. These are mass-manufactured vehicles. I know they would say, oh, we're not a mass market thing, which is true in some ways when your average selling price is $110,000. But if you're making 350,000 of something, that's a mass market brand. It's interesting. I compared the brand to Rolex earlier. I think from a brand perception, that's true. But from the operations of the company, really it's Louis Vuitton. Louis makes a lot of stuff. This is the correct analog. I had this in my notes much later, but I want to bring it forward right now. Porsche is Louis Vuitton, Ferrari is Hermes. I think that this whole time, while researching, I just had this broken thing in my brain, where I was like, how do they make so much stuff when they're Hermes, and they're not Hermes? They were once Hermes, but as soon as they started making the SUVs, that's not who they are. They have tiered access to luxury like different luxury products with a shared brand that unifies them.…

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