GM is a big, old company that adapts slowly, but don't underestimate them. Like you said, they've been making vehicles for over 100 years. They have the money, the RD and the engineers to blow Tesla out of the water eventually. There's a reason why it's hard to start a new car company, the competition is good and they know what they're doing. That also goes for the rest of the top five automakers. The only companies dragging their feet are the Japanese ones, especially Toyota.

The top five automakers will eventually blow Tesla out of the water. Especially when it comes to luxury vehicles. Tesla cars pale in comparison to anything made by GM (Cadillac), Lexus, and especially the luxury German offerings. Then you have brand recognition, look at how many fullsize pickups are sold in North America, do you think Tesla vehicles will be cross shopped by people that want a Silverado or an F-150? Nope, they'll buy the electric version of those trucks instead. Tesla will never be on the level of the top five.