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 Post subject: Re: Hats off to Elon Musk
PostPosted: Wed Jan 02, 2019 1:39 pm 
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https://www.cnbc.com/2018/12/31/tesla-4 ... mbers.html

Quote:
Tesla shares tumble 9% as company misses Wall Street vehicle delivery estimates, cuts prices

    Tesla delivered 90,700 vehicles during the fourth quarter, falling shy of Wall Street estimates.
    Tesla boosted production during the quarter, churning out 86,555 vehicles, up 8 percent from 80,142 during the third quarter.
    Investors are disappointed in the news, sending shares south in morning trading.

Dawn Kopecki | Robert Ferris

Published 3 Hours Ago Updated 1 Hour Ago
CNBC.com

Tesla disappointed investors Wednesday, announcing that it delivered 90,700 vehicles during the fourth quarter — short of Wall Street forecasts despite its efforts to ramp up production.

Tesla also said it boosted production during the quarter, churning out 86,500 vehicles, up from 80,142 during the third quarter.

The electric car maker's shares fell by more than 9 percent in morning trading.

"Tesla shares tend to a have a lot more noise and volatility than most, but we think investors who are willing to take a longer-term view of the story will be rewarded handsomely and continue to believe Tesla is on track to post one of the market's most robust year-over-year earnings increases in 2019," said CFRA analyst Garrett Nelson.

The company also announced that it's cutting prices on all of its models by $2,000 to help offset a reduction in federal tax credits for drivers who buy electric vehicles. The $7,500 federal tax credit for Tesla cars was cut in half as of Tuesday.

Although the delivery numbers were 2,000 fewer than expected in a FactSet survey of analysts, Wedbush Securities analyst Dan Ives told CNBC they were consistent with his prediction. He said the cut in prices was likely weighing on the stock.

"It was a move that was within the realm of possibility, but it caught investors off guard," he said.

Bearish investors are likely interpreting the price cut as an attempt to stimulate demand, but Ives said it was more of a way to soften the blow from the tax credit drop.

The company delivered 8 percent more vehicles during the quarter, a new all-time high, but the numbers were fewer than expected by Wall Street. The company said it delivered 63,150 Model 3s, 13,500 Model S sedans and 14,050 Model X SUVs. Wall Street analysts had forecast 92,000 total deliveries — 64,900 for the Model 3, 14,200 for the Model S and 13,600 for the Model X, according to average estimates analysts compiled by FactSet. The numbers vary since FactSet tracks nine analysts on total deliveries, but not all analysts break out the data for each model.

FactSet does not compile average estimates on Tesla's production.

Tesla's own internal tracking of Wall Street analysts show that its deliveries were in line with or above estimates, spokesman Dave Arnold said. The company tracks 22 analysts that forecast an average of 91,046 deliveries during the quarter, according to data compiled by Tesla.

Tesla previously gave investors hope that its production rates would improve, saying that the number of labor hours to build the Model 3 fell by more than 30 percent from the second to the third quarter. The company also told investors in late October that it took less time to build than the Model S sedan and Model X sport utility vehicle — another first for the company.

"We will focus even further on cost improvements while continuing to increase our production rate" during the fourth quarter, the company said at the time.

CEO Elon Musk announced Oct. 23 that the company planned to limit certain options on its higher-end Model S sedans and Model X SUVs to streamline production. The company also announced plans during the fourth quarter to start selling a $45,000 version of the Model 3, before raising the price $46,000. It has yet to produce the base Model 3, which it has promised for a price of $35,000 before incentives.


Dawn Kopecki
Business News Digital Editor

Robert Ferris
Reporter


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 Post subject: Re: Hats off to Elon Musk
PostPosted: Sun Apr 14, 2019 3:07 pm 
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So Musk, and Tesla, have been pushing the premise for years that they will be selling an "affordable" $35,000 electric car to the masses.

So how's that going?

Quote:
Tesla also said on February 28th that it was only able to reach the long-promised $35,000 price point by reducing costs elsewhere in its business and closing most of its stores and shifting to online sales, as well as laying off workers. (Tesla later partially reversed this decision and is keeping some stores open, though it continues to let sales staff go.) After years of work, Musk wasn’t able to solve all of the design, engineering, and manufacturing advancements required to sell the original $35,000 version of the car he imagined. Either that, or he felt he had run out of time and money to keep trying after the company recently saw a record dip in deliveries.

Tesla never shipped any of those $35,000 Model 3s, though. Customers who placed orders saw their delivery windows get delayed by weeks or months, and some reported that Tesla salespeople tried to up-sell them to the Standard Range Plus in the meantime.

https://www.theverge.com/2019/4/12/1830 ... base-model

Ok, so they were shifting their sales strategy from retail stores to online sales.
That makes sense and is not uncommon in today business world.

But then Tesla also is doing this:

Quote:
Tesla says six times as many people bought the Model 3 Standard Plus, which has a range of 240 miles, compared to the Model 3 Standard Range. So the Model 3 Standard will only be available if customers call Tesla or visit a Tesla store.


https://www.theverge.com/2019/4/12/1830 ... e-increase

Interesting strategy there,,,making it difficult for customers to purchase one of you models only in stores (which are being closed) or by telephone. :lol:

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 Post subject: Re: Hats off to Elon Musk
PostPosted: Sun Apr 14, 2019 4:05 pm 
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I realize that Prius isn't a Tesla/Musk product, but it is electric, so I am shoehorning this post into this thread:

Image

:mrgreen:

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 Post subject: Re: Hats off to Elon Musk
PostPosted: Sun Apr 14, 2019 5:28 pm 
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chijohnaok wrote:
I realize that Prius isn't a Tesla/Musk product, but it is electric, so I am shoehorning this post into this thread:

Image

:mrgreen:

You are always so clever. ;)

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