Tesla Reports Optimistic Outlook with Record Revenue and Orders

Tesla reported Q4 earnings after the market close Wednesday of $1.19 earnings per share beating the consensus of $1.13 per share. Revenue rose to $24.32 billion ahead of the consensus $24.16 billion. $TSLA shares rose more than 9% after CEO Elon Musk said the company might be able to produce 2 million cars this year. The Tesla company acknowledged that average sales prices have “generally been on a downward trajectory for many years,” and said “affordability” would be necessary for … Continue reading “Tesla Reports Optimistic Outlook with Record Revenue and Orders”

Rivian Automotive Narrowly Misses 25,000 Electric Truck Production Target

Electric truck developer Rivian Automotive reported it built 24,337 electric vehicles in 2022, narrowly missing its annual target of 25,000 as it ramped up production in the final months of the year. RIVN pumped out 10,020 vehicles in the last quarter. Rivian builds vehicles across two consumer lines and a delivery van for Amazon.com Inc. The company has been making wider losses than estimated in its earnings since going public. Rivian said it delivered 20,332 vehicles to customers during 2022. … Continue reading “Rivian Automotive Narrowly Misses 25,000 Electric Truck Production Target”

Tesla Used Cars the Last Domino to Fall in Stock and Branding Rout

Tesla was the green technology, electric vehicle and ESG golden child run by the world’s living genius, then it all come back to earth swiftly. There are many facets of this fall, the last domino appears to be Tesla vehicles resale value. Used car prices in the US have gone from hyperinflation to deflation very quickly in 2022. In November’s CPI the used cars and trucks index declined 2.9% month-over-month and was down 3.3% year-over-year. However, used car prices this … Continue reading “Tesla Used Cars the Last Domino to Fall in Stock and Branding Rout”

Tesla Revenues Miss, Margins Decline on Strong US Dollar on Production and Delivery Bottlenecks

Tesla reported Q3 earnings after the market close Wednesday of $1.05 earnings per share beating the consensus of $0.99. Revenue rose to $21.5 billion but missed analysts’ projections of $21.96 billion. $TSLA cited the higher US dollar and higher costs related to a slower-than-expected ramp up in output at the new factories in Austin and Berlin. Additionally, there was difficulties shipping vehicles. Tesla expects to begin delivering the new Semi Truck in December. Tesla shares fell after hours to $214.83 −$7.21 or … Continue reading “Tesla Revenues Miss, Margins Decline on Strong US Dollar on Production and Delivery Bottlenecks”

Electric Truck Developer Rivian Automotive Reaffirms Production Target as Losses Mount

Electric truck developer Rivian Automotive reported wider losses than estimated in its second quarter earnings, losing $1.7 billion. The automaker’s losses more than doubled from the same period last year, when it lost $580 million. RIVN affirmed prior production guidance to launch the R2 vehicle in Georgia with the $15.46 bln cash on hand it still has. Last year the EV upstart raised $11.9 billion to become the largest IPO of 2021, and the largest IPO since Alibaba (NYSE: BABA) … Continue reading “Electric Truck Developer Rivian Automotive Reaffirms Production Target as Losses Mount”

Tesla Earnings Beat but Margins Decline, sold $936 Million Bitcoin to Raise Cash

Tesla reported Q2 earnings after the market close Wednesday. $TSLA beat by $0.46 and reported revenues in-line and reaffirmed the expectation to achieve 50% average annual growth in vehicle deliveries over a multi-year horizon. The company posted its first sequential decline in quarterly profit in more than a year impacted by an extended shutdown at its Shanghai assembly plant. Tesla also announced they sold 75% of its digital holdings of Bitcoin when freed up around $1 billion in cash. CEO … Continue reading “Tesla Earnings Beat but Margins Decline, sold $936 Million Bitcoin to Raise Cash”

Tesla Second Quarter Sales Hit by Dogged Supply Chain Issues and Pandemic Restrictions in China Drop 18% from March

CEO Elon Musk had forewarned investors of the issues Tesla has been facing in China with supply chain issues and pandemic restrictions hampering production of its electric vehicles. It comes as no surprise $TSLA’s sales from April through June fell to their lowest quarterly level since last fall. Musk just last week described new factories in Austin and Berlin as “money furnaces” that were losing billions of dollars because supply chain breakdowns were limiting the number of cars they can produce. On Saturday … Continue reading “Tesla Second Quarter Sales Hit by Dogged Supply Chain Issues and Pandemic Restrictions in China Drop 18% from March”

Tesla Delivers Record Earnings Despite Global Supply Chain Headwinds

Tesla reported record Q1 earnings after the market close Wednesday. The takeaway was $TSLA with the foresight of tying up key commodities such as nickel, rare earths and lithium earlier got them ahead of the inflation curve. This made the company able to relentlessly focus on manufacturing. From that gross automotive margin were 30.5%, up from 28.4% over the previous quarter. Even excluding credit sales, operating profit was a record and much better than Wall Street expected. What excited the … Continue reading “Tesla Delivers Record Earnings Despite Global Supply Chain Headwinds”

German Solar Electric Vehicle Disruptor Sono Group IPO Debut

Germany-based Sono Group NV $SEV raised $150 million at a $1.1 billion market cap. The company is developing what it believes is disruptive solar technology, as well as a solar and battery powered vehicle. Sono Motors is developing the solar electric vehicle (SEV) for the masses, the Sion. It has reached more than 16,000 reservations with advance payments for the Sion, the solar electric vehicle (SEV) for the masses, German disruptive solar technology company Sono Group (SEV) Sono Group N.V. (parent company to … Continue reading “German Solar Electric Vehicle Disruptor Sono Group IPO Debut”

Tesla Delivers Record Earnings Despite Global Supply Chain Headwinds

Tesla reported record  Q3 earnings after the market close Wednesday. $TSLA made $1.62bn in the third quarter, beating its old record $1.14bn last quarter. Tesla said it expects sales to grow an average of 50% annually.Gross automotive margins were 30.5%,up from 28.4% over the previous quarter.