Posted on 04/27/2024 2:27:01 PM PDT by E. Pluribus Unum
Tesla has certainly seen better days. In 2023, Tesla sold 55% of the EVs in America, far ahead of the second-place EV seller, Ford, which sold 6% of the total EVs sold. This makes Tesla a barometer by which much of the entire market can be measured. Experts say that some of Tesla's difficulties are a result of how Tesla is run, but some of the problems are systemic to the industry as a whole.
Drop in Income, Stock clawing its way back
On Tuesday, Tesla reported a 9% drop in revenue in the first quarter, which was the largest drop the company had seen since 2012. Net income dropped 55% to $1.13 billion from a year ago, which was an even bigger drop than was seen during the 2020 pandemic. It was also below analysts’ consensus estimates, according to the Wall Street Journal.
Telsa's stock has been battered over the last week, but bulls have rallied around it. Over the past five days, shares sunk to a low of $140.90 and climbed back to $158.96 on Thursday's opening bell, according to data from Barron's. The stock's performance YTD peaked at $299.29, and its lowest point was as low as $138.00. According to Marketwatch, currently 15 analysts placed a "buy" recommendation and 22 others rated Tesla stock as a "hold." Nine analysts rate the stock as a "sell."
Autonomy
On the company’s earnings call, CEO Elon Musk said that Tesla would start production of new models in early 2025 or possibly earlier. This car, he said, would be produced with its current production lines, which would be more efficient. He had previously stated that a cheaper alternative to its current models would be available.
(Excerpt) Read more at justthenews.com ...
Tesla CEO: “I shoulda had a V-8!”
Did New York just ban EVs ? LOL
Ford house had a 3/4 ton cargo van on lot. All electric - looked nice, but range is 140 miles. Not sure how any business can use that for deliveries, pick-up, catering, etc. Rivian van used by AMZ has only 150ish range.
lol. Nice pun. :-)
Tesla has no real problems. Sales slowed a bit. They still crank out a crap ton of cars. They have tech that nobody is even close to being able to match. The full self drive is still new and a lot of skeptics but it is truly amazing now and will be incredible in a few years now that it’s basically “free” to everyone for at least 30 days. Previously you had to add it as a feature but now you can just pay a monthly subscription. So they are generating more data now in a month than they got all last year. That will just make them better overall.
They will be in robotics next year. Every bit of information his cars collect contributes to enhancing his overall AI tech. He will even soon have the computing power of the cars - when they are not in use - connected to the network to do computation. He even plans to pay owners for that use and eventually to let owners of FSD cars turn them into robo taxis when not in use. If you want.
I own no Tesla stock or Tesla cars. But the things they are doing are Jetsons level actualizations.
Some business plan -
Ford Loses $135,000 On Every EV
https://www.msn.com/en-us/autos/news/ford-loses-135000-on-every-ev/ar-AA1nDQCF
Meh. The number of ev’s around here appears to be increasing regularly.
FL is very EV friendly, what with being flat and hot.
What will save the EV market is when Biden or a future Democrat President outlaws internal combustion engine cars.
I have a gently used four year old Tesla to sell you.
China has 100s of thousands of unsold EVs.
I do own Tesla stock but no Tesla car. I would recommend buying some at these low dip prices, because the rebound is happening. The articles authors would have one believe Tesla is in trouble. As if growing $1.13 billion in profits is a "problem"! They make a profit on every EV they make, while GM, Ford and others lose thousands on each EV produced. Last I heard, they're losing $132,000 on each EV. Tesla is able to cut prices because they still have healthy profits on each EV.
They're breaking out the "slump" late this year, with the ramp-up of factories and several new factories getting built soon. And it isn't just about cars, it is Jetsons-level technology that they're working on which haters fail to observe.
That is a disaster for everyone, notably their re-election chances. ICE vehicles will always be necessary. The EV market is a niche market, and ICE will always prevail. There is room for both vehicles. Of course, the Democrat plan is to deprive citizens of private ownership of vehicles, in favor of public transportation. That's why we need to stop election of Democrats, they're out to destroy our nation and our constitutional rights to..., well, anything we like.
Just as we suspected:
A 2023 Gallup poll found that 71% of Republicans would not consider buying an EV, and a 2023 Pew Research survey found that 70% of Republican or Republican-leaning Americans were unlikely to consider one.
Yeah I think Ford is losing about $45k per EV not $100k but it’s not really the question. Building out EV factories is complicated and worse for a legacy ICE company. Tesla had several benefits. They were a first mover so they have no legacy costs like Ford et al. Second, as a startup they were able to tap capital markets in a way no legacy maker could. They valued it like a tech company eg Google, Amazon and a few others were capable of absorbing billions in losses for over a decade because the capital markets financed the growth. Now all of them are profitable. It took 10-20 years but they are all dominant players in their field. Third, they had massive government subsidies. Musk exploited every opportunity he was allowed - and I don’t criticize him for it that’s what he should do even if I disagree with the policies that enabled him. Finally, they have this absurd carbon offset credit system. For years Tesla was able to sell carbon credits to legacy makers and pad the books to the tune of billions. Again, my belief in that system is irrelevant - I think it’s stupid - but it exists so yeah of course he will use it.
Tesla is not only not going anywhere it will be a dominant player in the lives of Americans for decades to come. Cars, robots and more. Musk himself with his other companies will be even more influential. He and I are roughly the same age so I hope we both make it to a ripe old age because I look forward to seeing what he does, and what happens to him. He could end up like Howard Bughes - hounded by the government because he is too disruptive of other industries and he is also not shy about his use of drugs - Hughes became addicted to codeine due to pain and became a recluse due to some sort of depression. Musk, while probably not an addict is the kind of person who is maybe 1 in 300 million or more. That personality type is impossible to restrain or diagnose and I’m not sure anyone is qualified to treat any mental illnesses he may have. But he seems stable enough, a little ADD with so many things going on (cars, rockets, social media, robots, brain implants, and AI to name a few), but so far he’s handling it all very well. I wish him good healthy long life and look forward to seeing all these visions play out over the next 30+ years.
I remember when Windows 3.1 came out and it was on about 22 floppy disks.
One night around about 1992, I was loading Windows 3.1 on my IBM computer. I was on about disk 13 of 22 when one of my friends stood behind me shaking his head in exasperation, saying "these contraptions will never catch on."
lol. I was into computers in the mid 1980s. I learned Fortran and Basic. I had a class in junior high we used Tandy TRS something or other. At home I got a Commodore 64, and a TRS of my own… had dial up connections to reach the small handful of other people - I had to keep their numbers on a sheet of paper but if I typed them in the modem would dial them. I was “chatting” with a kid 15 miles away, my parents were over my shoulder asking “why don’t you just talk on the phone?” Everything was run on a cassette tape on the Tandy machines. Then I got an Apple //e with 2 floppy drives and I installed 2 modems and hosted my own BBS for a year or so. My parents wouldn’t pay for more than 1 extra phone line though so I had to share the second line. It was fine late at night but no good when other people were awake in the house during polite hours.
Then I got interested in girls. I guess maybe if I stuck with computers instead of high school girls my life would be different. After college I switched from Apple to windows because work software was all run on windows. I would assemble my own buying the parts from Fry’s. That way I could add only the parts I wanted and only the best parts vs buying pre-builds. Eventually prices for rebuilds came down and it was not worth my time. I still occasionally upgrade RAM or SSD drives here or there. But I am not in the computer business any way shape or form. Just grew up with them since before I had hair on my schmekel
I think you have a typo there. I was playing with NT (forerunner of Windows) and Windows 1 in the mid-1980s, soon after the Apple Mac came out and Microsoft copied the code. I later became an NT & Windows server admin in the early 1990s. Anyway, I still have bundles of those floppy disks and hated installing Windows, a painful experience (then there were all the OS updates to apply after the install).
New technology is like that, with hurdles to get over until the technology improves. What comes to mind, are the cranks people had to insert into cars in order to start their ICE engines (still present in some makes into the 1950s). My dad had problems with his first car, a Model T, and often had to do repairs on the side of the road. First adopters always hear "it'll never catch on".
I'm pretty sure my timeline is correct on Windows 3.1. It came out in 1992, right about the time I got my first IBM PC. It was a 386 that ran on DOS and I remember having to get a math co-processor just to run Windows.
Around that time, I got a 129MB hard drive to go with the 80MB I already had and I thought I was on top of the world.
Yes, MB, not GB!
I also built my own PCs back in the day. I would get the Chassis w/power supply and outfit it with my preference of motherboard, video card, RAM, hard drives and other extension cards. Those were good times.
I know that IBM personal computers first came out in 1981 and the Apple PC a few years before that even.
I’d love to engine-swap a Tesla roller. I read recently many are insurance write-off because of high repair costs.
Aren't the wheels driven by independent electric motors?
I might be wrong.
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