Tesla Q2 has a 45 percent drop in profits
- Thread starter 97prizm
- Start date
Most aren't buying Model 3 sized cars either. I've heard many say that they couldn't drive something small like the compact Model 3. It's classified as a mid-size though.
Trax isnt a sedan, you have a higher seating position Im pretty sure. The Trailblazer a bit larger appeals to my wife, she is petite and a small 4 door sedan is to low, she is tired of being close to the ground. *LOL* Bolt was a possibility I would have liked her to have it and she loved how "cute" it was but in comparing the two the Trailblazer is the preferred one. Higher and more SUV like. At the same time she doesnt want something larger because then she needs to see over the hood *LOL*
@Torrid I saw your post above right after I posted this to dish dude
Model 3 is a performance sedan, Trailblazer is a small SUV with no performance. Both are for completely difference place in the market.
A bitter pill for some. There are people losing interest, the grid isn't ready, long charging times for those who like to travel, price cuts because of competition, promises not being kept, etc. Yes Ford and GM are small players, however when you add in all the competition globally, at least for now it is taking its toll on Tesla.
Right, which is why I asked if this budget model was a small CUV like a Trax or if it was a tiny sedan.
That would be the only EV I'd consider, but would probably end up with ICE.
Look at the abysmal quality control on the Cybertruck. Steering rack failures, sharp body panels, apparently the water or wade mode doesn't work as at least one Cybertruck fried its battery when driving out from a beach into water. It was mentioned that In the last two quarterly earnings calls Musk looked completely disinterested and not really able to come up with a good reason or fix. But he swears that the "robotaxi" will be unveiled in October. This is after a guy two weeks ago "driving " a model 3 admitted to police that fsd and autopilot were activated when his vehicle slammed into a police car that was blocking a lane after responding to a fatal accident. Elon told everyone that fsd update whatever fixed this issue.
I hear ya. IMO the Cybertruck is an over hyped load, but hey if someone has the money and wants one they should go for it! On the rare occasion I do listen to Musk I take everything he says with a grain of salt. His track record for deadlines leaves a lot to the imagination.
I called this ~2-3 years ago that Tesla was going to be hurting once mainstream automakers started getting into the EV game. The bleed is only going to continue as more and more competitive models are released. People bought Tesla because they wanted an EV but had no other choice, now they have choices including from their preferred automaker.
Unfortunately Ford has not able to get the volume to amortize the initial costs and the initial investments to get an EV started from the ground up is HUGE, the 2nd and later generation of EV's won't have the massive initial capital heavy outlay of the first generations as most of the groundwork has been laid and expensed on the first gen. Overall we don't know the amortization schedule they are using - the $44k loss could entirely disappear one day once the initial investment is fully amortized.
One example is VWAG claims to make a small profit on each MEB they produce, but they have pumped out probably 1.5 million MEB vehicles if not more by this point. Future generations (MEB+) should produce a profit after much fewer vehicles because most of the heavy initial capital was expensed with the original MEB.
Unfortunately Ford has not able to get the volume to amortize the initial costs and the initial investments to get an EV started from the ground up is HUGE, the 2nd and later generation of EV's won't have the massive initial capital heavy outlay of the first generations as most of the groundwork has been laid and expensed on the first gen. Overall we don't know the amortization schedule they are using - the $44k loss could entirely disappear one day once the initial investment is fully amortized.
One example is VWAG claims to make a small profit on each MEB they produce, but they have pumped out probably 1.5 million MEB vehicles if not more by this point. Future generations (MEB+) should produce a profit after much fewer vehicles because most of the heavy initial capital was expensed with the original MEB.
Tesla will be belly up any day now. Been that way since about 2003, right?
Wait 'till the big boys get in! Still waiting...
Teslas are only for rich California granola heads. Model Y was the #1 selling car in the world last year.
How many other car companies have built a Supercharger network?
How many invest Billion$ in AI? Dojo baby!
How many even code their own firmware?
By market cap, even with the latest drop, Tesla is still worth more then the next 7 or 8 companies combined @ $702B. Toyota is next at a distant $260B. No one else is even worth $100B.
Wait 'till the big boys get in! Still waiting...
Teslas are only for rich California granola heads. Model Y was the #1 selling car in the world last year.
How many other car companies have built a Supercharger network?
How many invest Billion$ in AI? Dojo baby!
How many even code their own firmware?
By market cap, even with the latest drop, Tesla is still worth more then the next 7 or 8 companies combined @ $702B. Toyota is next at a distant $260B. No one else is even worth $100B.
Why do you use only market cap? I know you love to spew this to make out like Tesla is the biggest and best but in reality they are far from it.
https://companiesmarketcap.com/automakers/top-automakers-by-total-assets/
https://companiesmarketcap.com/automakers/top-automakers-by-total-assets/
Market cap is just a figure. You seem to use that to make it seem like Tesla is on top. A 45 percent profit drop is huge. You take out the carbon offset credits and it looks way worse. You also have to realize musk can't seem to get it together. The Dojo computing isn't going well, and Musks AI company is a guy in a suit pretending to be a robot. He can't seem to focus on anything. Then musk has his rants and Fired an entire division because he didn't like what he heard. Oh by the way a company in Georgia is developing a charging infrastructure for apartment and condo complexes. Alot of teslas top talent went to go work for them after being fired.
Teslas losing market share rather quickly, as in they aren't holding on to what they have. This year they fell again. The Cybertruck isn't selling nearly as well. Q2 is the Seventh out of the eighth consecutive quarter that Tesla has manufactured considerably more vehicles than it sold. It's estimated that 4k Cybertrucks are sitting unsold. Tesla even revealed that they've sold between 7-8,000 Cybertrucks but have manufactured as of a couple of weeks ago 11,850. That's between 3,800-4,800 Cybertrucks not sold ouch.
Where are you getting your information? I am not sure it is correct. Here's some latest CT sales:
As of July 23, 2024, Tesla had sold 11,558 Cybertrucks in the U.S. in the first half of the year, with 2,803 in the first quarter and 8,755 in the second. In March 2024, Tesla sold 1,158 Cybertrucks, which was more than double the number of Rivian R1T pickups sold that month. In June 2024, the Cybertruck was the best-selling vehicle in the U.S. that cost more than $100,000.
It is outselling the Lightning as well.
The Cybertruck is certainly not on my list... Or any electric PU for that matter. I like my old Tundra!
You are confusing 2 things. I cite market capitalization as a metric regarding company operations as compared to comments speaking to Tesla results from operations. Heck, this thread sounds like end-of-the-world for Tesla.
I also cite sales for the few products Tesla sells.
Market Cap speaks to the market's (investors) forward looking value for a given company.
Is Tesla biggest and best? Yes and no. From an automotive specific standpoint, they really only sell the 3 and Y. Other Tesla vehicles are bit sellers. So they don't compare to the major car companies in total vehicle sales. But in EV, they dominate. In single model sales, they dominate.
Now from a tech standpoint, no other car company is even in the picture. Perhaps you understand the importance of Artificial Intelligence. No other car company has a clue. What about firmware? Which car company continued to do well during the chip shortage?
From a market cap standpoint; no one is even close.
I am coming from a business standpoint rather than an "I think" or "they should" point-of-view.
Everything I posted is true; other posts are based in opinion.
You posted assets; certainly every major car company has a far bigger asset base than Tesla and make far more vehicles from a pure count standpoint. In general they also make less profit per vehicle than Tesla. Look at VW; they are more like separate companies that report up. Factories all over the world, most aging with fragmented supply chains. You think the market likes that?
You use terms like "spew". When someone resorts to degrading terms, they are showing a lack of understanding and certainly not fact.
By the way, I really wanted to attend the NorCal DubAffair VW car show but I a downed tree to deal with today.
Last edited:
- Joined
- Jan 7, 2024
- Messages
- 262
Musk is a liar and a fraudster
"Tesla doesn’t separate all of its cars by model when it announces quarterly sales data, and chose to instead group the Cybertruck, Model X, and Model S into one category.
No offense but this is the same company that got caught fudging the "Cybertruck is faster than a Porsche while towing a Porsche." Is this Tesla's claim?
Again Musk has said for eleven years that Tesla is "just around the corner " and "most likely this year" will be fully autonomous.
I can say without a doubt the Cybertruck isn't selling as well as Tesla had hoped. Keep in mind they supposedly had a 5 year waitlist. They've burned through alot of that already. The owner of TFL Truck Roman Mica stated that he contacted someone at Tesla to see where he was. He was the 49,950 order out and was told December 2023 that he wouldn't see his truck till AT LEAST mid 2025. In may Tesla contacted him about taking delivery of his truck.
No offense but this is the same company that got caught fudging the "Cybertruck is faster than a Porsche while towing a Porsche." Is this Tesla's claim?
Again Musk has said for eleven years that Tesla is "just around the corner " and "most likely this year" will be fully autonomous.
I can say without a doubt the Cybertruck isn't selling as well as Tesla had hoped. Keep in mind they supposedly had a 5 year waitlist. They've burned through alot of that already. The owner of TFL Truck Roman Mica stated that he contacted someone at Tesla to see where he was. He was the 49,950 order out and was told December 2023 that he wouldn't see his truck till AT LEAST mid 2025. In may Tesla contacted him about taking delivery of his truck.
EV sales exceeded expectations during a record-breaking quarter," said Cox's industry insights director Stephanie Valdez Streaty. "While Tesla's sales continue to decline, with its share of EV sales now below 50 percent for the first time, the overall electric vehicle competitive landscape intensifies further."
Tesla held a 55 percent market share a year ago. If Tesla were killing it so to speak they wouldn't be losing market share this quickly.
Tesla held a 55 percent market share a year ago. If Tesla were killing it so to speak they wouldn't be losing market share this quickly.
Similar threads
- Locked
