Category: tesla
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Highlights from Tesla Q1 2023 earnings report, earning $2.5B -24% YoY and revenue $23.3B 24% YoY.
Tesla revenue is up 24% YoY reaching $23.3B for Q1 2023. Due the large price reductions on Model 3 and Y needed to increase demand, GAAP net income dropped -24% to $2.5B. Tesla is strategically choosing to sacrifice profit margin to keep production at full capacity. They believe over the lifetime of the vehicle, they…
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Tesla lowers Model 3 to $39,990, Model Y to $46,990 on 4/19/2023
Tesla has reduced prices for their cars on 4/19/2023. The new pricing for Tesla cars are listed below. All Model Ys quality for $7,500 EV credit and Model 3 RWD qualifies for $3,750. Model 3 Performance qualifies for full $7,500 EV credit. Model Price, Price with EV credit applied. Model Y $46,990, $39,490 Model Y…
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Tesla to build Megapack factory in Shanghai and 45k Superchargers milestone
Tesla announced on Twitter that they will be building their second Megapack factory in Shanghai. Their first is in Lathrop California with production capacity of 40 GWh. In 2022, Lathrop deployed 6.5 GWh Megapacks. The Shanghai factory will be capable of producing 10k Megapacks/year. Each Megabuck has 3MWh of energy and can power 3,600 homes…
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Tesla lowers Model 3 and Y price to $41,990 and $49,990.
On April 8, 2023, Tesla has lowered the Model 3 and Y. Model Y AWD now costs $49,990 and a Model 3 RWD is $41,990. The Model 3 will also have its tax credit drop to $3,750 after 4/18/2023 because its LFP cells are made by CATL and is sourced from China. The IRS based…
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Tesla Q1 2023 Production & Deliveries
Tesla Investor Relations web site released its Q1 2023 productions and deliveries results. They will have more details in its Q1 earnings scheduled for April 19, 2023. Total production is 440,808 and total deliveries 422,875. Model Q1’23Production Q1’23Deliveries Q4 ’22 Production Q4 ’22 Deliveries Q1’22 Production Q1’22Deliveries Model S/X 19,437 10,695 20,613 17,147 14,218 14,724…
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Tesla Giga Berlin achieved 5000/week production rate
On March 25, 2023, Tesla in a tweet announced Giga Berlin has achieved 5000/week production rate. The tweet showed a Model Y running through the assembly line being assembled. This comes about one month after it achieved the 4000/week production rate. This is a demonstration of the continuous improvement and strong production ramp. At 5000/weekly…
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Tesla reduces prices on Model S and X
Demand for high priced cars is currently weak. Tesla has lowered the price on Model S and X on March 6 2023. Model S now sells for: Model S Model X Dual Motor All Wheel Drive $89,990 $99,990 Tri Motor All Wheel Drive Plaid $109,990 $109,990 A sign of low demand is the estimated delivery…
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Highlights Tesla Investor Day 2023
Tesla’s Masterplan Part 3 was presented on Tesla Investor Day 2023 on March 1. Tesla outlined a path to an electrified economy without fossil fuel and mathematically showed how it is possible by 2050. It will require complete transition of all cars to be electric. To accomplish that Tesla will be making 20 million cars…
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Tesla Giga Berlin achieves 4K Model Y production rate
In a tweet from Tesla Europe (@tesla_europe) February 26, Giga Berlin has achieved a production rate of 4000 for Model Y. The factory team paused to celebrate this achievement with a group picture with three Model Ys. If they can maintain this rate, it would mean an annual production rate of 4000 * 52 or…
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Tesla Model Y All-Wheel Drive $51,490
Most Tesla cars are built to order. Some cars are also available preconfigured for immediate sale. These inventory cars are searchable via https://www.tesla.com/inventory. As of this writing, the new 2023 Model Y All-Wheel Drive is now for sale at $51,490. This is a $4,000 discount compared to the Long Range Model Y. A day earlier…
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Tesla’s intrinsic value using discount cash flow analysis
Updated using Free Cash Flow data from Tesla’s Q1 2023 earnings report. Discount cash flow analysis is one way to predict the value of an asset Input to the model using trailing twelve month (TTM) free cash flow. Quarter Free Cash Flow (operating cash flow less Capex) in Millions Q1 2023 $400 Q4 2022 $1,400…
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Tesla Model Y best selling car in California 2022 and Strong January 2023 sales in Germany
The California Auto Outlook report released February 2023 and sponsored by the California New Car Dealers Associations showed California had 1,667,831 registrations, a decline of -10.2% from last year’s 1,856,391. On page 3, it reported that the Tesla Model Y was the best selling model with 87,257 and topped the Luxury Compact SUV segment with…
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Tesla increases Model Y price $1000 after IRS updates rules on EV tax credit to increase Model Y MSRP limit to $80,000.
IRS has updated its EV tax guidance to classify the Model Y as a SUV and make it quality for EV credit up to $80,000 MSRP. Mustang Mach-E also qualifies as a SUV. With this change, Tesla may have seen a surge in Model Y orders. The order rate may be exceeding production rate. In…
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Highlights from Tesla Q4 2022 earnings report, earning $3.7B 59% YoY and revenue $24.3B 37% YoY.
On January 25, 2023 Tesla announced that Q4 2022 revenue was $24.3B up 37% YoY and GAAP net income was $3.7B up 59% YoY growth. GAAP Earnings per share came in at $1.07, 57% YoY growth. Net cash ended the quarter at $22B. In the shareholder presentation, it mentioned free cash flow is $1.4B in…
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WSJ hosted debate about Tesla with Ross Gerber and Jim Chanos January 20 2023
On January 20 2023, The Wall St Journal’s Hannah Miao hosted a friendly spirited debate about Tesla with short seller Jim Chanos and Tesla bull Ross Gerber. At the time of the debate, Jim has a short position on Tesla in a portfolio of about 40 companies. Chaos is founder of Kynikos Associates in New…
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Franz von Holzhausen interviewed about Cybertruck, Colors, Model 3, Safety and Roadster in Ride the Lightning podcast
In Episode 389 of the Ride the Lightning podcast, host Ryan McCaffrey interviews Franz von Holzhausen, Chief Designer at Tesla. They talked about lots of topics related to Tesla, Cybertruck, color options, Model 3, Safety, Roadster and more. They mentioned the Cybertruck and all of Tesla cars are currently in an exhibit at the Petersen…
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Tesla cuts Model 3, Y, S, X prices in US to increase demand
On January 12, 2022, Tesla reduced prices on Model 3 and Y along with S, X on the US order form at tesla.com. The Model 3 RWD Standard Range dropped from $46,990 to $43,990. The 5-seat Model Y Long Range, was $65,990 and is reduced to $52,990. On top of this discount, if customer’s income…
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Slate published an article on Tesla’s key challenges with China demand and Twitter for 2023 in interview with Patrick George from Verge
In this Slate article published January 9, 2023, Patrick George a writer from Verge who has covered Tesla for decades gives his take on what’s happened to Tesla in 2022 and what he believes Tesla should be doing in 2023. In Patrick’s view, Tesla’s main problems are The auto market in China is the largest…
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IRS classified the Tesla Model Y 5 seater not as a SUV and not qualified for $7,500 EV credit and change.org petition to change it
As is currently proposed, the IRS does not classify the Tesla Model Y 5 as a SUV. To qualify for EV credit, the max price for SUV < $80,000 and for other vehicles the max price is $55,000. The Tesla Model Y 5 seater under IRS classification would not qualify. Oddly, IRS classifies the Tesla…
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Tesla delivered 55,796 in China for December and lowers prices in China January 6 2023
According to Reuters report on January 5th 2023, Tesla has delivered 55,796 China-made cars for December based on data from China Passenger Car Association (CPCA). This represents a decline of 44% from last month and down 21% year over year. China has decided to discontinue EV subsidies for 2023. The net effect is prices for…