Tesla stock drops on Q4 earnings miss, EV maker warns production growth rate will be 'notably lower' than 2023
Tesla stock drops on Q4 earnings miss, EV maker warns production growth rate will be 'notably lower' than 2023
Tesla reported Q4 earnings that missed estimates and issued a downbeat full-year production outlook.
I'm enjoying this. Also Musk went out and said that he wants barriers on trade or else the Chinese companies will dominate the market.
I thought Musk would be happy, because he truly wants to save the planet doesn't he? It shouldn't matter if he or someone else makes the best electric cars then?
Could it be because among affluent, environmentally conscious consumers, it's no longer cool to be driving a car made by an unhinged right-wing narcissist?
Musk said on the earnings call that his concern would be, given his current shareholding, that he will have "so little influence" in the future that some major shareholder could strip away his control or make a bad decision.
Or could it be a consequence of dumping shares to fund a megalomaniacal need to own a social media platform?
I'd say it's more that he's saturated the early adopter market. Selling to a more cost and quality conscious market is harder. The fact consumer reports rates their cars less reliable than McDonald's ice cream machines is a bigger problem than Musk's ego.
I have no major issues with my car but for the money, the build quality was crappy. It’s not what you’d expect for a car of that cost.
Might be different over there, but here Teslas are a great deal. There aren’t yet a lot of cheaper cars than the model 3, and none can beat the range at its price. Compared to Volkswagen, you get a prettier car, with more range and a heck of a lot better infotainment system, as well as some neat included features (like heated seats)
“or make a bad decision” is hilarious. Like say, insist that the company spend 4 years developing a bizarrely impractical truck that Elton himself said they “dug their own grave” with?
Musk said, adding that he's "not looking for additional economics; I just want to be an effective steward of powerful technology."
Oh yes, we all believe this techno Jesus crap at this point. Right.
bad decisions, like making a truck that looks like... that...
I'm not entirely sure how to phrase this, but... Today there are choices...
Guess alienating your primary target demographic and trying to turn angry climate change denying conservatives into Tesla buyers wasn’t a genius move.
Yeah hard to imagine Musk's new right wing fanbase being willing to buy electric cars even if they're made by him.
I don't think the word "Charlatan" has ever applied to anyone more aptly than Musk.
Nah, a charlatan has class. Musk doesn't.
How much of it can be attributed to Elon alienating potential buyers? Every shareholder must be thinking this.
A lot. Also, since he's been busy spreading hate on Xitter, Telsa has notably lacked direction and focus. They've just been coasting for the past three years or so. Time for a new CEO.
But have they figured out how to keep the wheels from falling off?
I think they are adding a monthly subscription fee for that feature.
Front fell off
Well that’s not typical.
Musk is in the process of destroying Tesla.
Maybe Twitter first, we will see I guess. Worst manager ever.
Twitter is already dead, we are just watching the corpse discompose as only the diehard fans and the utterly addicted remain and slowly first reduce their use/replace some of their time with some other social media, then outright abandon it. Online platforms rarely die with a bombastic thunder, but instead limp with a wimp for a long time, shells of their former selves. For example, My Space and Digg are still around.
Can we please have those cheap Chinese EVs flood the market??
The cheap chinese EVs are only really cheap because of the heavy subsidies provided by the Chinese governments. And they're mostly really targeting developing nations where a cheap car really matters. The US is already flooded with cars, and money so it's going to be a lot harder to break into that market. Plus both the people and the government have their biases against the Chinese to boot.
and they are designed to last 5 years and are rusting so bad that Russians are regretting them.
Which ones are cheap again?
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He could, and has shown that he will disable the car if you make a mean tweet about him. Stay away..
I think Volvo Recharge models are better than Tesla anyway. :)
Much higher quality, much more quiet inside, and Volvo actually knows how to make a car.
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Again, that ‘truck’, …The Homer.
Tesla stock is the most overhyped shit on the wallstreet.
It was very obvious 2024 was not going to meet the 50% goal and they've been warning us for years about it.
50% with some years over and some years under based on when we do vehicle launches is what they've been saying for quite a long time now.
The only way 2024 was ever going to be above that trend line, or even in its vicinity is if the Gen 3 platform launched, and it's been clear for over a year now this wasn't happening in 2024.
Probably like mid 2022 this was the obvious outcome for 2024.
And yet everyone is acting like the sky is falling.
The sky is falling when gen 3 comes out and it doesn't sell well at reasonable profit. If it sells with reasonable profit, everyone is going to be hospitalized with whiplash as they start spiking deliveries again and March their way to 7-10 million vehicles based off the platform (multiple vehicles in the platform)
But ya, 2024 is a dud year. It's been a dud year vehicle wise for over a year already.
I think it goes without saying that if you want to protect your domestic market, that having trade restrictions and tariffs is essential. Especially if you have higher labour and environmental standards. So I do support Tusk in that matter. I still think he's a twat though.
But don't they already have that in the US? It seems that brands like Kia are not nearly as big in the US, while they have explosive growth here in Northern europe since they get top reviews.
Wouldn't that be in breach of WTO rules? Certainly tariffs based on carbon are likely moving forwards. Protectionism doesn't help anyone long term.