Posted on 04/21/2022 7:47:09 AM PDT by SeekAndFind
"We are growing very rapidly year-over-year and remain confident of exceeding 50% annual growth for several years," said Tesla CEO Elon Musk.
Tesla (TSLA) - shares surged Thursday after the carmaker posted stronger-than-expected first quarter profits, record sales and bullish near-term outlook that defied Wall Street's forecasts and powered-through surging input prices and supply chain chaos.
CEO Elon Musk indicated there was a "reasonable shot" for 2022 deliveries to rise 60% from last year, noting the ramp-up of production facilities in Berlin and Austin, following a surprisingly solid first quarter that saw automotive profit margins rise to 30%, record sales of $18.76 billion and a stronger-than-expected bottom line of $3.22 per share.
Tesla said on April 2 that first quarter global deliveries rose 67.8% from last year to a record 310,048 units, just shy of analysts' forecasts of and only 0.5% from the final three months of 2021.
Current quarter deliveries should be flat when compared to the first three months of the year, Tesla said, even with the multi-week shutdown of its Shanghai gigiafactory -- which made around half of the group's cars last year -- amid China's 'zero Covid' crackdown. The full-year delivery estimate stands at 1.47 million units.
"I’d like to thank the Tesla employees for their hard work, but also I’d like to thank our suppliers who’ve really gone the extra mile<" Musk told investors on a conference call late Wednesday. "We have an amazing supplier group and I would say a heartfelt thanks to the suppliers that have really worked day and night to ensure that Tesla is able to keep the factories running."
"The future is very exciting. I have never been more optimistic or excited about Tesla’s future than I am right now."
(Excerpt) Read more at thestreet.com ...
A 33% margin for an automobile manufacturer is nothing short of astounding.
RE: A 33% margin for an automobile manufacturer is nothing short of astounding.
I’d really like to know the DEMOGRAPHICS of those who are buying his cars. You know - age, occupation, yearly income, etc.
I see more Teslas every day. I’m not saying they’re worth the money. I’m not saying they aren’t. I’m just making an observation.
For in town driving they appear to be good vehicles. I have also noticed more of them around.
It’s the same pool of people who are willing to pay a 33% premium for Apple products.
People are willing to pay a lot for something that is “cool” and that they think will by extension make them cool.
Freepers: the next Tesla stock opportunity is Tesla. They are just getting started. I don’t own the the car, but I do own shares. The car business will end up being 20% of the company.
My wife’s nephew just bought one. He is a cardiologist in CT
However, i would not mind having a tesla for my daily commute, 16 miles round trip, and local driving.
My friend has one, he let me drive it, feels good, stable, lots of torque.Would be great to have one set up for recharging off a set of solar panels.
No wonder he's been messing around with Twitter. He's got money to burn and for him, buying Twitter is like the rest of us tossing a hundred dollars into a slot machine.
I'm actually thinking of getting one. I have a Subaru Outback (that I'm keeping!) but my wife has a 10-year old beater. She only uses it for around town and short trips. Perfect application for an electric vehicle. She can just keep it plugged in in the garage for when she needs it.
Teslas are status symbols, overtaking the cachet of BMW and Lexus, previous luxury sales leaders. Note that the top-selling Tesla is the Y model SUV, starting at around $70k.
“She can just keep it plugged in in the garage for when she needs it.”
That is the only thing that concerns me. I am not sure I want that much Lithium battery in MY GARAGE attached to the house my family and I sleep at night. At least until they correct the issue of occasionally catching on FIRE.
As far as a car to drive, I think they are fun as you can buy. Better than a Porsche or Ferrari.
“I’d really like to know the DEMOGRAPHICS of those who are buying his cars. You know - age, occupation, yearly income, etc.”
The 59 year old owner of my (100 million dollar annual revenue, 600 employees) company just got a new one. Says it’s way faster than his old C6 Corvette.
Kinda like caging a junk yard dog when not in use.
Bill Gates is a big nothing, one man show, as compared to Elon.
What, you mean you can’t just plug your Tesla into a 15amp outlet?
(sarc)
RE: He is a cardiologist in CT
Looks like there are hundreds of thousands of people with his income willing to own EV’s.
One is a 24 year old who is a Robotics Engineer. He bought the $50K model after getting a six figure job straight out of college. Plus, he still is living with mom and dad and works from home. FYI, he is one of my son's best friends and was the Salutatorian of his high school class.
The other person I know has the model S plaid. He owns a company I sell to in Idaho. He is 62 years old. He says it is faster and more fun to drive than his Porsche 911 turbo.
likely let all the smoke out of the wires.
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