11539 replies to this topic

[Mike K.]

I think that's what investors are wondering right now. Where are they going?

[Victoria Watcher]

They are the only company that’s makes electric cars profitably.

[Mike K.]

With a 65% drop in share value, it is not very profitable for investors any more, though.

[Victoria Watcher]

Have you looked at Ford or GM stock?

Makes little difference to the company.

[Mike K.]

They’ve been around for a very long time. Zero chance of GM disappearing.

[Victoria Watcher]

They are the only company that’s makes electric cars profitably.

And many/most western countries have mandated all new cars must be zero-emmmission by 2035 or 2040 or so.

Why would you bet against the leader?

It seems weird to bet against the only company in the world that can produce electrics at a profit when 50-75% of the global market will require only electrics soon.

Edited by Victoria Watcher, Yesterday, 04:54 PM.

[Victoria Watcher]

They’ve been around for a very long time. Zero chance of GM disappearing.

They only survived 2009 thanks to a government bailout.

Edited by Victoria Watcher, Yesterday, 04:42 PM.

[Mike K.]

Tesla has benefitted from $3 billion in taxpayer subsidies, so far, since the company’s relatively recent inception.

[Tony]

Tesla is the only major American auto manufacturer not represented by a union in the US as of January 2024.^[2

[Victoria Watcher]

Tesla and Ford are the only two US automakers never to fail. Hundreds of others have all failed.

Edited by Victoria Watcher, Today, 02:41 AM.

[Victoria Watcher]

"We calculated that if you add on the socialized infrastructure costs, and then in particular add on California's zero emission vehicle mandate, which adds cost to all of us because the automakers have to pay to produce more EVs in California, and they spread that cost to the whole country, the federal fuel economy regulations alone are subsidizing each EV by about $20,000. Add all this together, and each EV is getting almost $50,000 in subsidies," he said.


https://www.foxbusin...-owners-experts

Edited by Victoria Watcher, Today, 05:48 AM.

[Mike K.]

Well that’s concerning.

[Victoria Watcher]

https://twitter.com/...623069825368377

 

 

 

 

 

 

 

Tesla’s Cybertruck, the new ‘It’ car? 10 celebrities rocking the four-wheeled status symbol, from Beyoncé and Kim Kardashian to Lady Gaga – Don Lemon reportedly even demanded one from Elon Musk

 

https://www.scmp.com...beyonce-and-kim

Edited by Victoria Watcher, Today, 07:51 AM.

[Victoria Watcher]

https://twitter.com/...803844658790590

 

 

 

Edited by Victoria Watcher, Today, 08:32 AM.

[Victoria Watcher]

Tesla reports biggest revenue slide since 2012, announces renewed push for affordable model

 

 

Revenue declined from $25.17 billion a year earlier. Net income dropped 55% to $1.13 billion from $7.93 billion a year ago.

 

The drop in sales was even steeper than the company’s last decline in 2020, which was due to disrupted production during the Covid pandemic.

 

Tesla’s automotive revenue declined 13% year-over-year to $17.34 billion in the first three months of 2024.

 

Tesla shares have plummeted more than 40% this year on concerns about weak deliveries, competition in China and the company’s ongoing price cuts. Earlier this month, Tesla reported an 8.5% year-over-year decline in vehicle deliveries for the first quarter.

 

The stock, trading near its lowest since early 2023, rose about 5% in extended trading after the report.

 

The company wrote in a shareholder deck that it’s accelerating the launch of “new vehicles, including more affordable models,” that will “be able to be produced on the same manufacturing lines” as Tesla’s current lineup. Tesla is aiming to “fully utilize” its current production capacity and to achieve “more than 50% growth over 2023 production” before investing in new manufacturing lines.

 

Revenue in Tesla’s energy division increased 7% to $1.64 billion, while services and other revenue rose 25% to $2.29 billion compared to the same period last year.

 

Sales growth across EVs is slowing, and Tesla and key rivals have been slashing EV prices, on and off for months, to try to spur demand. Tesla’s gross profits plummeted 18% in the first quarter, partly owing to price cuts throughout the start of the year.

 

 

 

https://www.cnbc.com...s-q1-2024-.html

Edited by Victoria Watcher, Today, 12:26 PM.

[Victoria Watcher]

Tesla to launch new models ahead of planned timeline, shares jump

 

 

 

Tesla (TSLA.O) said on Tuesday it had pulled forward the launch of new models, sending its shares up 6% in trading after the bell.

 

"We have updated our future vehicle line-up to accelerate the launch of new models ahead of our previously communicated start of production in the second half of 2025," the company said in a filing.

The company on Tuesday reported revenue of $21.3 billion for the three months ended March, compared with $23.33 billion a year earlier. Analysts on average had estimated $22.15 billion, according to LSEG data.

The world's most valuable automaker recorded a fall in revenue in the second quarter of 2020, when the COVID-19 pandemic hampered production and deliveries.

Net profit in the first quarter stood at $1.13 billion, compared with $2.51 billion, a year earlier.

 

 

https://www.reuters....020-2024-04-23/

Edited by Victoria Watcher, Today, 12:29 PM.

[Victoria Watcher]

https://twitter.com/...834628836904973

 

[Mike K.]

The stock shot up 12% in after hours trading, presumably prior to the news hitting the airwaves.

 

Will there be a bloodbath tomorrow, or is the poverty model going to save the company?

[Victoria Watcher]

The stock shot up 12% in after hours trading, presumably prior to the news hitting the airwaves.

 

Will there be a bloodbath tomorrow, or is the poverty model going to save the company?

 

He stated it boldly today on the call.  If you do not believe in the AI / self-driving goal of the company, you should not be an investor there.

 

 

 

 

 

 

After a barrage of bad news and a sharp drop in profits at Tesla, CEO Elon Musk sought to reassure investors on Tuesday that the revolutionary electric vehicle company is still on a long-term path to growth — thanks to AI and autonomous vehicles.

"We're putting the actual 'auto' in 'automobile,' " Musk said, to chuckles from his executive team.

"The future is really bright," Tesla CFO Vaibhav Taneja added later. "We just have to get through this period and get there."

"This period," though, is rough. Profits were down 55% for the quarter compared to a year ago, after sales decreased and Tesla repeatedly cut prices. A number of top executives are leaving, including the head of investor relations, who dropped that news on the Tuesday earnings call. Tesla is laying off more than 10% of its global staff, and executives are clamming up when investors keep pushing for more details about a long-promised $25,000 vehicle.

In defending the company's performance, Musk and other executives pointed to broader challenges in the EV industry, as well as headwinds like an arson attack at Tesla's Berlin plant and the cost of launching the Cybertruck. They also emphasized that they still see a bright future for electric vehicles.

__________________

And operating a profitable robotaxi fleet is not just a technology problem. It requires working productively with government regulators and winning and keeping public trust — as GM's Cruise and Google's Waymo can painfully attest.

"I actually do not think there will be significant regulatory barriers, provided there is conclusive data that the autonomous car is safer than a human-driven car," Musk said, arguing that human drivers will be as outdated as human elevator operators.

Musk also sketched out a plan to use idle Teslas as a distributed AI computing business, similar in concept to Amazon Web Services cloud computing service.

 

 

 

https://www.wwno.org...in-on-robotaxis

Edited by Victoria Watcher, Today, 03:28 PM.

[Victoria Watcher]

Nextstar giving work promised to Canadians to foreign workers at Windsor battery plant: CBTU

 

Canada’s Building Trades Union recently penned a letter to Prime Minister Justin Trudeau expressing frustration with Nextstar’s insistence on using temporary foreign workers through its various subcontractors, saying 50 foreign workers were set to arrive in Windsor in April to perform work previously promised to Canadians.

 

 

 

 

The corporate conglomerate building an electric battery plant in Windsor that is slated to receive billions of dollars in government has ramped its use of foreign workers at the site and has even taken work away from unionized tradespeople in recent weeks, according to explosive new allegations from a national trades union federation.

 

Canada’s Building Trades Union penned a letter to Prime Minister Justin Trudeau earlier this month expressing frustration with Nextstar’s insistence on using temporary foreign workers through its various subcontractors, saying 50 foreign workers were set to arrive in Windsor in early April to perform work previously promised to Canadians.

 

The union federation said the work could easily be performed by local tradespeople despite claims from Nextstar that it was only bringing over workers because it needed their “specialized knowledge” to get the facility up and running. For example, the CBTU said it had proof of foreign workers offloading equipment for module lines, using forklifts and conducting equipment installation work previously contracted to Canadian workers.

 

Nextstar denies the accusations, saying almost all of its workers are Canadian and the foreign workers have only been “hired temporarily by the suppliers to install proprietary equipment and are a requirement of warranty obligations.”

 

 

 

 

https://www.ipolitic...tery-plant-cbtu

Edited by Victoria Watcher, Today, 05:25 PM.