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Tesla Deliveries Are Down 31% From Last Quarter -- But Up 110% From Last Year (forbes.com)
An anonymous reader quotes Forbes:
Tesla's stock dropped 8% Thursday on the news that Q1 deliveries fell 31% from the previous quarter. However, being a seasonal business, car companies usually compare their results against the same quarter from the previous year. On that basis, virtually all of the major car companies have said Q1 sales will be flat to 7% lower than last year. In contrast, Tesla's deliveries are up 110% from last year. From the one year perspective, Tesla is the only car company that is growing...
Yesterday's headlines which focused on the 31% decline are factually correct but misleading. Moreover, Tesla said that delays in deliveries to Europe and China caused "a large number of vehicle deliveries to shift to the second quarter. At the end of the first quarter, approximately 10,600 vehicles were in transit to customers globally..." Had Tesla managed the increased deliveries in Europe and China a little better, they might have come close to Wall Street's expectations.
On Friday, Tesla's stock bounced up 2.68%.
Yesterday's headlines which focused on the 31% decline are factually correct but misleading. Moreover, Tesla said that delays in deliveries to Europe and China caused "a large number of vehicle deliveries to shift to the second quarter. At the end of the first quarter, approximately 10,600 vehicles were in transit to customers globally..." Had Tesla managed the increased deliveries in Europe and China a little better, they might have come close to Wall Street's expectations.
On Friday, Tesla's stock bounced up 2.68%.
Tesla is a fraud. It is Theranos...
How so? Are they not electric cars? Do they not function as cars?
but they make explosive electric cars.
Electric cars do not explode, Tesla or otherwise. In the event a damaged battery cell, a cascade reaction can occur in which the battery slowly burns the car but never explode. However, ICE cars have been known to explode because they are powered by a combustible fuel source and a collision can cause the gasoline to leak. When the leaking gasoline meets a small ignition source the vehicle is soon engulfed in a fireball.
Anons need not reply. Questions end with a question mark.
You might argue about the financial viability of Tesla or it's business model but even their competitors think their product are solid technology wise for what they are.
What they have are manufacturing and quality control issues.
It is not surprising they missed their target deliveries this quarter. Their logistics system is dysfunctional. Since deliveries this quarter were mostly for European and Asian markets, i.e. where the remaining high-end customers still to be served are, this made it even worse. Did you catch the news about a bunch of Model 3's stuck in customs in China some a couple of weeks back because of a labeling issue? Or how Elon made Tesla employees personally deliver vehicles to customers to meet their numbers? Those are just some of the issues. Their logistics suck.
Thoughtful and informative post. There are two factors that might be added to the list:
* Having driven an electric car (Volt) for six months now IMHO electrics are superior to ICE for 80% of USian use cases (and to me more enjoyable, but that's a matter of preference)
* The US alone spends about a a half-trillion dollars of taxpayer money per year subsidizing the oil industry with everything from drilling credits to Superfund cleanups to military garrisoning of the major oil producing regions of the world, so the market for ICE vehicles is not exactly undistorted.