Tesla Motors (TSLA) / Elon Musk 01 (Jul 10 - Nov 22)

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Tesla Humiliates Volkswagen, Mercedes

by LUC OLINGA

Goal of delivering at least 1.5 million vehicles in 2022, which will be an all-time high.

Expects to deliver 20 million vehicles per year by the end of the decade.

Source: The Street

https://www.thestreet.com/technology/te ... 2BMercedes

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Elon Musk May Have a Goodie Bag for Tesla Investors and Fans

by LUC OLINGA

During his recent interactions with Twitter users, Musk seemed not to rule out the prospect that Tesla might buy back shares in order to boost the stock price to reflect what the company believes to be its true value.

Tesla is on track to meet or exceed its goal of delivering nearly 1.5 million vehicles in 2022. The company delivered 343,830 vehicles during the third quarter.

In total, the firm delivered 908,573 units over the first nine months of 2022, compared with 936,172 vehicles in full-year 2021.

"(Actually) Smart Summon is almost done," Musk posted on Twitter on Oct. 18.

In addition, the techno king may provide new information on the long-awaited Cybertruck, the production and first deliveries of which are expected in mid-2023.

source: The Street

https://www.thestreet.com/investing/elo ... and%2BFans

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Tesla sales fall short of estimates as stronger dollar bites

Revenue rose to US$21.5 billion compared with analysts’ projections of US$22.1 billion.

Profit excluding some items rose to US$1.05 a share, exceeding the US$1.01 average of estimates compiled by Bloomberg.

Paying close attention to how quickly Tesla can increase output of Model Y SUV from new factories in Austin and Berlin.

Sticking to its long-held plans to increase vehicle deliveries by 50 per cent on average annually over multiple years. It expects to begin delivering the new Semi Truck in December.

Tesla’s automotive gross margin narrowed to 27.9 per cent in the quarter, falling short of the 28.4 per cent average of estimates.

Income from the sale regulatory credits - used by other automakers to offset greenhouse gas emissions - were US$286 million for the quarter, the lowest in a year.

Source: Bloomberg

https://www.businesstimes.com.sg/compan ... llar-bites

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Tesla’s net income (GAAP) for Q3 2022 reached $3.33 billion, with automotive gross margins holding steady at 27.9%, exactly where it stood in the second quarter of 2022.

During the same period last year, Tesla reported $1.62 billion in profits.

“I can’t emphasize enough we have excellent demand for Q4 and we expect to sell every car that we make for as far into the future as we can see,” Musk said.

“The factories are running at full speed and we’re delivering every car we make and keeping operating margins strong.”

Tesla is likely to do a “meaningful buyback” next year, he added, potentially between $5 billion and $10 billion pending board approval.

He also said, optimistically, “I’m of the opinion that we can far exceed Apple’s current market cap. In fact I see a potential path for Tesla to be worth more than Apple and Saudi Aramco combined. That doesn’t mean it will happen or will be easy.”

“China is experiencing a recession of sorts” mostly in the property markets, Musk said, “and Europe has a recession of sorts driven by energy.”

He added, “North America’s in pretty good health, although the Fed is raising interest rates more than they should, but I think they’ll eventually realize that and bring them down again.”

Source: Phillips

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Musk Confirms Tesla’s Plans to Build Lithium Refinery in Texas

By Tom Ozimek

If Texas authorities approve the proposal, construction could begin in the fourth quarter of this year, with the plant coming into full operation by the end of 2024.

Source: Epoch Times

https://www.theepochtimes.com/musk-conf ... %2FogwQ%3D

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Tesla, Inc. (TSLA)

As you may recall, Tesla had reported 343,000 total deliveries, which missed analysts’ expectations of 364,660.

That said, as reported by the Wall Street Journal, deliveries were up roughly 42% from last year’s third quarter, when Tesla delivered 241,000 vehicles.

I said, while they fell short of expectations, the company’s deliveries are expected to help Tesla post its highest quarterly sales and record profits of $3.34 billion.

So no, the company didn’t deliver as many cars as analysts wanted. But the fact is, Tesla has survived the chip shortage better than most automakers because the company learned how to reprogram its cars.

Earnings of $1.05 per share beat expectations for earnings of $1.01.

While the company also reported its highest ever quarterly revenue of $21.5 billion, that still fell short of expectations for $22.09 billion.

Vehicle pricing helped Tesla grab almost $3.3 billion in profit during the third quarter, just shy of the company’s record in the first quarter.

Back on the vehicle delivery front, Tesla would have to deliver 500,000 cars in the next three months to hit its 2022 target of boosting vehicle deliveries by 50% year-over-year. To that end, the company expects to come up just shy.

During the call, CEO Elon Musk cited ongoing supply chain issues for the company’s miss.

He said:
There weren't enough boats, there weren't enough trains, there weren't enough car carriers. Tesla got too big. I can't emphasize enough we have excellent demand for [the fourth quarter] and we expect to sell every car we can make as far in the future as we can see. To be frank, we're very pedal to the metal come rain or shine. We are not reducing our production in any meaningful way, recession or not recession.

Unfortunately for Tesla, we’re in a market environment where a company can’t just report good earnings, it must also guide higher.

And while Elon Musk did provide strong fourth-quarter guidance, it didn’t work to help the stock price. Clearly, he’s losing some of his credibility, which I find interesting.

Source: Investor Place

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Tesla earnings: 'There’s a method to the madness,' analyst says

by Pras Subramanian

“Elon Musk acknowledged that there was a demand issue, particularly in China … but at the same time he said the company would grow significantly in Q4”.

The backlog of orders, demand for new EVs in general, fleet sales, and the coming production of the Cybertruck in 2023, and more Tesla Semi sales will boost Tesla in the near future, despite some economic uncertainty.

“Next-generation” vehicle would be smaller in size and costs Tesla 50% of what the Model 3/Y platform takes to build.

Source: Yahoo Finance

https://finance.yahoo.com/news/tesla-ea ... ?.tsrc=372

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Tesla Dumps 4% After Beating Earnings, Missing On Revenue And Margin
https://www.zerohedge.com/markets/tesla ... and-margin

$TSLA shares dipped after reporting mixed earnings for its Q3.
https://mobile.twitter.com/CNBCFastMone ... 3427014656

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Tesla cuts China prices by up to 9% as analysts warn of 'price war'

by Zhang Yang & Brenda Goh

Cut starter prices for its Model 3 and Model Y cars by as much as 9% in China.

Elon Musk's comment: "a recession of sorts" was under way in China and Europe, and Tesla said it would miss its vehicle delivery target this year.

Tesla is now China's third best-selling EV maker after BYD Motor and SAIC-GM-Wuling.

Tesla upgraded its Shanghai factory earlier this year, after which it delivered 83,135 China-made EVs in September, setting an output record for the plant since production began in December 2019.

Source: Reuters

https://www.theedgemarkets.com/article/ ... -price-war

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