Tag: tesla
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Tesla Q1 2024 earnings released, Revenue $17.378B down -9% yoy, GAAP Income $1.129B down -55% yoy, diluted EPS $0.34 down -47%
April 23, 2024, Tesla Q1 2024 revenue declined 9% yoy to $23.3B. Slide deck: https://digitalassets.tesla.com/tesla-contents/image/upload/IR/TSLA-Q1-2024-Update.pdf Transcript available at: https://www.fool.com/earnings/call-transcripts/2024/04/23/tesla-tsla-q1-2024-earnings-call-transcript/ Fewer automotive deliveries are the reason, caused by shipping problems, lost of government incentives, a highly competitive EV market and tough interest rate environment globally. The earnings release noted that the industry is moving toward hybrids…
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Tesla SVP Powertrain and Energy Drew Baglino has left Tesla and sold $181 million shares and 10% layoff
After 18 years of service, Drew Baglino has left Tesla. He made his announcement on X. https://twitter.com/baglino/status/1779872449628426739 He had made several appearances on earnings calls and investor presentation and made contributions to Tesla’s success. Drew attended Stanford University according to his LinkedIn profile. Losing top talent is not good but it’s inevitable and happens in…
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Tesla Q1 2024 delivered 386,810 vehicles and produced 433,371, declined sequentially and -8.5% yoy
In press release on 4/2/2024, Tesla reported they delivered 386,810 vehicles in Q1 2024. Production is 433,371. https://ir.tesla.com/tesla-vehicle-production-deliveries-and-date-financial-results-webcast-first-quarter-2024 Q1 2024 performance is below that of Q1 2023 and Q4 2023. A year ago Q1 2023 was 440,808 produced and 422,875 delivered. Deliveries declined -8.5% yoy. Q4 2023 numbers were 494,989 produced and 484,507 delivered. That…
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Xiaomi introduced its first EV, the SU7 EV to compete with Tesla Model 3
Making an EV in high volume is extremely difficult. Xiaomi, an electronics giant in China known as the Apple of China has introduced its first EV after three years of development. Their SU7 EV launch event presented by Xiaomi CEO Lei Jun is available on YouTube: Xiaomi EV Launch March 2024: https://www.youtube.com/watch?v=DsiyB5Es32s Xiaomi has a…
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Tesla to give FSD V12 demo at delivery time and one month free trial for all FSD supported vehicles
Tesla Full Self Driving (FSD) v12 has been released to more Tesla owners. FSD v12 uses end to end neutral network implementation and is capable of handling a lot more driving situations correctly and more human like. To expand FDS v12 awareness, Tesla is making two new changes. According to tweet of Elon internal email…
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Tesla Q4 2023 revenue, $25.167 Billion +3% yoy, net income $7.928 Billion, 115%
January 24, 2024, Tesla released its Q4 2023 earnings. Revenue was $25.167 Billion increased 3% yoy. Net income was $7.928 Billion up 115% yoy. The yoy comparison has one time non cash tax benefit of $5.9B. Gross margin is 17.6% -612bp yoy. So despite higher volume of cars in 2023, its revenue only rises 3%.…
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Tesla shares off to a challenging start for 2024 due a string of negative development
Tesla is off to a challenging start for 2024. In Europe, Germany is ending the EV subsidies earlier than expected to balance its budget. In response 1/17/2024, Tesla reduced its prices in Germany as reported by Reuters. https://www.reuters.com/business/autos-transportation/tesla-cuts-model-y-prices-germany-after-china-price-cuts-2024-01-17/ New price price dropped Model Y Long Range 49,990 euros -5,000 euros, -9% Model Y Performance 55,990…
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VW PowerCO confirms QuantumScape solid-state battery cell performance.
On January 3 2024, VW’s PowerCO SE group released its findings on QuantumScape’s solid-state battery cell confirming it can hit 1,000 charging cycles and still maintain 95% original capacity. While this isn’t new as QuantumScape (QS) themselves have publicly announced this result in their Q3 2023 shareholder letter, this confirmation by a partner gives confidence…
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Tesla achieves 1.8 million cars delivered in 2023
At the beginning of the year Tesla issued 2023 annual delivery and production to be around 1.8 million vehicles. On January 2nd 2024, they announced their Q4 2023 deliveries and production and have met their commitment. Model 3/Y deliveries for the year is 1,775,159. Q4 2023 earnings will be released on Wednesday January 24, 2024.…
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Tesla Cybertruck delivered to customers
Tesla has delivered the first 10 Cybertruck to actual customers. After an extensive development period, it has made it out to the real world. Pricing, performance and availability details are now public. Cybertruck uses hard stainless steel and can withstand a large hammer hit and bullets. The stainless steel finish is not painted and Tesla…
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Tesla Q3 2023 Earnings, $23.35 B revenue, 9% yoy, Net income $1.85 B -44% yoy
Tesla had a tough Q3 2023. Its price cuts have maintained high volume deliveries and sales to match production capacity but that has hurt profitability. Tesla Q3 2023 total revenue is $23.35 Billion which grew 9% yoy but declined -6.7% sequentially from $24.927 Billion last quarter. Net income came in at $1.85 Billion and dropped…
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EVs reaches 314,036 in Q3 2023 with Tesla at 50%
Cox Automotive published the EV sales for Q3 2023. Total number of EVs, cars, trucks, SUV, commercial vans reached 314,036. Tesla has sold 156,621 EVs and jumped 19.5% from a year ago Q3 of 131,024. BMW and Mercedes both had a strong showing in Q3 . BWM obtained 4.2% of the segment while Mercedes had…
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Tesla Q3 2023 production and deliveries and new Model Y RDW and lowered prices
Q3 2023 Production Deliveries Subject to operating lease accounting Model S/X 13,688 15,985 8% Model 3/Y 416,800 419,074 4% Total 430,488 435,059 4% Q2 2023 Production Deliveries Subject to operating lease accounting Model S/X 19,489 19,225 8% Model 3/Y 460,211 446,915 5% Total 479,700 466,140 5% Earnings will be announced October 18, 2023. Compared…
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Elon Musk livestream demo of FSD V12 beta
Elon Musk live-streamed a demo of FSD v12 beta. He drove to random places in Palo Alto California. It is published on X (formerly Twitter) on August 25, 2023. With FSD V12, the C++ code that implement rules on driving are replaced with an AI trained model to mimic good human driving. There is no…
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Tesla finished up 25.08, 10.09% at $273.58 on analyst upgrade and AI potential.
September 11, 2023, According to Forbes and the news outlets, Morgan Stanley analyst Adam Jonas upgraded Tesla to overweight with a target price of $400. https://www.forbes.com/sites/dereksaul/2023/09/11/tesla-stages-80-billion-rally-after-morgan-stanley-ups-price-target-on-ai-optimism There is no news coming from Tesla. Tesla spiked up 10.09% $25.08 to $273.58. It appears this reaction is mainly from the upgrade. The report from Adam Jonas focused…
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Tesla releases new Tesla Model 3 in China and Australia and lowers prices of Model X, Y and FSD
Tesla is now taking orders on the new Model 3 in China, EU and Australia. The new Model 3 is shown in the Australia Tesla website: https://www.tesla.com/en_au/model3 Changes that simplify assembly and improve quality: Front headlights are integrated with fog lamp into one piece. Tail lights are integrated as one piece with the hatch door.…
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How to not miss strong days: invest for long term. Tesla finished +18.36 +7.69% at $257.18
On August 29, 2023, Tesla finished the regular trading at $257.18, up +18.36 or +7.69% from the previous day on heavy volume of 134,047,603 shares. There was no significant Tesla specific news to account for this big jump. The one news related to Tesla came in the day before where Tim Zaman who works at…
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Tesla adds Standard Range Model S and X.
Update: Tesla has discontinued the Standard Range Model S and X described in this article on September 1st 2023 after Tesla released the new Model 3 in China and Australia and reduced prices on Model S and X. The new Model S Dual Motor All-Wheel Drive Standard Range is priced at $78,490. The specs on…
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Tesla CFO, Zachary Kirkhorn steps down, replaced by Vaibhav Taneja
August 4, 2023 Tesla SEC 8-K filing statement announced their CFO Zachary Kirkhorn has ended his position. Kirkhorn had been with the company for 13 years and overseen a lot of growth during his term. Since he has a complete understanding of the business, was rumored to be a candidate for Tesla CEO succession planning,…