The auto-industry can be very cyclical. Tesla is struggling from a YOY sales perspective, but so are a lot of the legacy ICE manufacturers. Tesla (and other EV manufacturers) will be fine if they efficiently manage costs during the down cycle and can continue to innovate.
When do you think you will buy a 100% pure electric vehicle?
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I hated it, tried a few times and it was like driving with a 14 year old. Scared the crap out of me. I guess I did like the parking assist, but I would not pay monthly for that.
Ouch, even worse than analyst predictions...
www.marketwatch.com
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.
Tesla's Q1 profit down 48%, revenue drops 9%
Tesla's Q1 profit down 48%, revenue drops 9%
Tesla Inc. late Tuesday confirmed investors' direst predictions, showing a 9% quarterly drop for sales and 48% for its adjusted revenue. Tesla earned $1.13 billion, or 34 cents a share, in the first quarter, compared with $2.2 billion, or 73 cents a share, in the first quarter of 2023. Adjusted fo
Tesla reports biggest revenue slide since 2012
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.
Ouch, even worse than analyst predictions...
Tesla's Q1 profit down 48%, revenue drops 9%
Tesla's Q1 profit down 48%, revenue drops 9%
Tesla Inc. late Tuesday confirmed investors' direst predictions, showing a 9% quarterly drop for sales and 48% for its adjusted revenue. Tesla earned $1.13 billion, or 34 cents a share, in the first quarter, compared with $2.2 billion, or 73 cents a share, in the first quarter of 2023. Adjusted fo
Tesla reports biggest revenue slide since 2012
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.
And their stock is UP!
Yeah, there was a ton of baked in doom. When stock is down 40% YTD, it's going to find a bottom at some point.
It's strange how there are such mixed views on it. Maybe my expectations were low, I thought it killed it in the highway and did decent in the metro. A lot of improvement still needed, but it would be worth $30/month to me in it's current form.
I think the area you drive plays a huge factor into the experience, especially with technologies that rely heavily on cameras. Tesla recently downgraded their tech due to cost cutting (supposedly not a downgrade) by removing their ultrasonic sensors to all camera-based systems.
Just like a person can struggle to see lines, curves, curbs, etc on certain types of roads, a fully camera based system can struggle. That issue is compounded based on traffic density, road conditions, etc.
They're now the only company seeking Level 2 and 3 automation that uses only cameras. All others have a combination of cameras, radar, ultrasonic, and/or lidar equipment.
If you drive on 235 through Des Moines, for example, the lanes and line markers are very hard to see in various sun, weather, and traffic conditions. That's going to be a different experience than on the freshly done strips between Ankeny and Ames.
Yeah, it's been very controversial. There are rumors they are rethinking adding Radar back but still not yet investing in or testing Lidar. Musk has a well known distaste for the technology, despite it's accuracy and proven reliability. Remember, a camera can only see 2D unless used in stereoscopic systems (Tesla doesn't use) while Lidar can create a 3 dimensional model. The combination of the two is where the magic really happens, at least in my own opinion.
BTW, they said they are still building a cheaper model, which will be out next year. I highly doubt it will be 25k though.....or next year
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There are some key differences at this point with EVs, namely all of that stuff was more or less market driven, not mandate driven. At some point in time (assuming EVs trend continues) charging ports will be common in parking spaces. But we’re not there yet.
Funny story about the oil vs gas furnace, my grandparents were last holdout, the sole oil customer in a small town. They were essentially paid to replace their oil burner for a gas burner.
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My grandparents still used coal when I was a little kid. I remember the coal bin and the automatic stoker they had. Cousin is now in that house and is adding solar panels and has two electric cars. Lot of change that house has seen. Ford Model T in the driveway back in the 1920's and now a Ford Lightning.
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Well, send this to Alliant, they have raised my rates the last couple of years and want to do it again. They should be lowering it according to that article.
Electric cars are saving Americans billions — even people who don't drive them
A new study shows that drivers of electric cars save Americans billions on their monthly electricity bills — even if they don't drive EVs!electrek.co
Without caving things, I think we can all agree Elon has also taken some incredibly irrational actions in terms of alienating the vast majority of EV enthusiasts. It certainly has had some effect.
A couple years ago he tweeted that he wants to hand my loved ones in Taiwan over to communist China rule, that's not even typical politics, it's just reckless. Stuff like that doesn't do wonders for a brand. How on earth could I ever give this guy one cent after reading that? I don't even think it's political, it's just objectively bad business. I'm in the market for an EV and wouldn't consider his brand now regardless of the deal, wouldn't have been the case a few years ago.
The public can make whatever personal choice they want. They shouldn’t get to make policy decisions when there are proven benefits to public safety.
I don’t care if the public decides to stop wearing seatbelts or they decide the speed limit should be 90 for example.
Agree some people buy based on a companies political or culture stances. I don't buy coffee at Starbucks.
But in this case, I feel Musk's political/culture views have been out there a while. The the 50% YOY increase 2022/23 and ensuing 8% decline 2023/24 YOY are a result of market conditions. And conditions that are not unique to EV manufactures.
Exactly, all you will hear is somebody got run over, or the auto drive drove me right into a lake. But even if you can show statistics proving that it has less accidents than human drivers, it will be the emotional "what about the children?" that dominates headlines.
"A person is smart. People are dumb, panicky, dangerous animals and you know it"
Where does that end? Where do you draw the line?
I don't want to argue it here, and won't, just make the point that reasonable people can disagree where that line is. And that unreasonable people can use that to justify all kinds of tyranny and oppression.
