Tesla Motors (TSLA) / Elon Musk 02 (Dec 22 - Dec 25)

[winston]

vested

Tesla Axes Prices of Model S/ X in US

According to the official website of Tesla (TSLA.US), the company slashed the starting prices of Model S/ X in the US.

In the US, the latest price of the basic model of Model S was cut by US$5,000 to US$89,990; and that of Model S Plaid was also axed by US$5,000 to US$109,990.

Besides, the basic model of Model X, and Model X Plaid, saw price cut of US$10,000 each, making their latest prices in the US at US$99,990 and US$109,990, respectively.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... t-news/HK6

[winston]

As Tesla Stock Retreats After Strong Run, Analyst Downgrades EV Giant

by KIT NORTON

The Berenberg analyst wrote Tesla's vehicle price cuts will hit gross margins in the short run but still sees high margins long term.

Yanoshik added "misplaced fears of a price war" appear to have been accepted by the market and that volume opportunities will increase when Tesla releases its cheaper next generation vehicle. The analyst also says Tesla's valuation "now leaves less room for disappointment."

Source: IBD

https://www.investors.com/news/as-tesla ... src=A00220

[winston]

vested

Tesla moving away from BYD batteries

by Karen Ng

Tesla will stop using BYD's (1211) batteries for affordable models.

Tesla's contract with BYD for car batteries used in entry-level models such as Model 3 Standard had reportedly ended at the start of this year, and the international electric-vehicle maker has not requested more supply since then.

LG Energy Solution is reportedly developing lithium iron phosphate cells, which share the same technology for making BYD's Blade Battery, as an alternative upon Tesla's request.

Source: The Standard

https://www.thestandard.com.hk/section- ... -batteries

[behappyalways]

After Price Cuts, Teslas Now Lose Value Faster Than Rivals
https://www.zerohedge.com/markets/after ... ter-rivals

[behappyalways]

Gordon Johnson: Cutting Tesla's Q1 Delivery Estimates Due To "Demand Crush"
https://www.zerohedge.com/markets/gordo ... mand-crush

[winston]

vested

I’m Buying More of This Stock Before It’s Too Late

by Jake Lerch

There are already more than 3 million EVs on the road in the US. By 2030, EVs will make up more than 60% of vehicles sold.

The company has lapped its competition:-

1. Epic Brand Recognition: Tesla famously spends no money on ads. Contrast that with its competitors like General Motors, Ford, Toyota Motors, and Volkswagen. Toyota, the largest vehicle maker by volume, spent $1.7 billion on advertising in 2021.

2. Enormous Head Start: Founded in 2003, Tesla has singularly focused on EVs since its start. Meanwhile, some of Tesla’s competitors are struggling to scale up their EV production and sell EVs at a profit.

3. Innovation and Vision: Tesla’s mission statement reads, “We’re building a world powered by solar energy, running on batteries and transported by electric vehicles.”
The company’s vision means EVs are only one part of a larger project to power the world sustainably. That enormous vision has led Tesla to innovate in many critical areas for EV success: battery life, charging stations, and safety.

Musk sold over $22.9 billion worth of Tesla stock in 2022 to help fund his purchase of Twitter.

Tesla’s fundamentals remain more than solid. Revenue is growing at 37% year-over-year, and net income hit a record high of $12.6 billion in 2022. Moreover, the company produced over one million vehicles last year.

The additions of the cybertruck and semi to the Tesla lineup should bolster sales, while the expanded EV tax credits and price cuts should make the vehicles more affordable to a broader customer base.

Source: The Motley Fool

https://dailytradealert.com/2023/03/31/ ... -too-late/

[winston]

vested

Tesla misses delivery estimates as weak economy overshadows price cuts

Tesla delivered 422,875 vehicles, a record high for the automaker but smaller than analyst expectations for 430,008 vehicles.

Tesla deliveries grew 4% from the previous quarter and were 36% higher than a year ago.

Tesla delivered 6% more of its mainstay Model 3/Model Y vehicles than the previous quarter. But the number of deliveries for its higher-priced Model X/Model S vehicles slumped by 38%.

In January, Tesla slashed prices globally by as much as 20%, unleashing a price war after missing Wall Street delivery estimates for 2022.

Source: Reuters

https://www.thestar.com.my/tech/tech-ne ... -estimates

[behappyalways]

Tesla Set To Rebound After Reporting 35% Increase In Chinese Sales For March
https://www.zerohedge.com/markets/tesla ... ales-march

[winston]

vested

Tesla cuts US prices for fifth time since January

Tesla cut prices on both versions of its Model 3 sedan by $1,000 and on its Model Y crossover by $2,000, the website showed. It also cut prices on both versions of its more expensive Model S and Model X by $5,000.

The company has said the tougher U.S. standards would reduce the $7,500 tax credit available for its base, rear-wheel drive Model 3 since January.

This week Tesla reported first-quarter deliveries of almost 423,000 vehicles, up just 4% from the prior quarter after price cuts in the United States, China and other markets aiming to spur demand.

Tesla has set a target of 1.8 million deliveries this year.

Tesla has cut the price of its base Model 3 by a cumulative 11% since the start of the year, with a 20% reduction on its base Model Y.

Source: Reuters

https://www.thestar.com.my/business/bus ... ce-january

[winston]

vested

Tesla hit with class action lawsuit over alleged privacy intrusion

by Hyunjoo Jin & Mike Scarcella

Groups of Tesla employees privately shared via an internal messaging system sometimes highly invasive videos and images recorded by customers’ car cameras between 2019 and 2022.

Source: Reuters

https://www.theedgemarkets.com/node/662643