Tesla increases Model Y/3 prices in US & China… but not by much https://electrek.co/2023/05/02/tesla-increases-model-y-3-prices-in-us-china-but-not-by-much/ I noticed this being mentioned:- ........ "Tesla went a long time without having to pull any “demand levers,” and finally had to start pulling them in earnest at the start of this year with these price cuts. So far, it looks like the price cuts may not be working as well as Tesla would hope, since Tesla inventory is reaching historic highs." .........
(Reuters) ........ The mood is jittery, to say the least. So far, those nerves aren't extending to the tech sector, which is holding on a fairly even keel. A regulatory filing on Friday from the family office of George Soros showed the 92-year old billionaire investor has sold his entire stake in Tesla. Soros bought shares in the electric vehicle maker, run by Elon Musk, in 2022, as well as convertible bonds in 2018. Musk completed his purchase of Twitter for $44 billion after six months of wrangling with the company's shareholders - in which time Tesla lost almost 40% in value. Soros bought the stake in the second quarter of last year, when Tesla shares averaged $274, and sold them in the first months of this year, when they averaged just $173. ........
(CNBC.Com) Tesla’s annual shareholder meeting took place Tuesday. Some highlights: CEO Elon Musk said the company will deliver its first Cybertrucks this year; the “next gen” Tesla Roadster may go into production in 2024; a humanoid robot named Optimus is under development at Tesla. And no, Musk isn’t planning on stepping down from Tesla. After the meeting, Musk sat down with CNBC's David Faber for an hour-long interview. During the chat, Musk said he didn't care if his tweets cause Twitter to lose money. He also described the notion of working from home as "morally wrong," and urged people to pay more attention to U.S.-China tensions.
David Faber should have asked Musk why his number one fanboi has disappeared. Needs to send out a rescue party like he tweeted years ago for those teenage cave explorers lol.
Just like every other automaker in the world:- (Morning Brew) "Tesla will begin advertising. After shunning marketing spend for its entire existence, the automaker will join…virtually every other automaker in hawking its cars to you via ads. 'We’ll try a little advertising, and see how it goes,' CEO Elon Musk said at the company’s annual shareholder meeting. Musk also teased two new vehicle models and, in an interview with CNBC, boasted that he’s “the reason that OpenAI exists” due to his past investment in and involvement with the skyrocketing ChatGPT creator." Hmmm margins getting a little squeezed huh Elon? More price cuts to come too?
This Is Why Toyota Isn't Rushing to Sell You an Electric Vehicle Story by Tom McParland • Yesterday 11:40 AM Photo: Elizabeth Blackstock© Photo: Elizabeth Blackstock Toyota’s hybrid models have been extremely successful, so you would think the automaker would be quick to embrace full electrification like some of its competitors. However, the automaker seems to be taking a somewhat controversial approach to EVs, and a leaked dealer document about the brand’s electrification strategy lays out exactly why. A Toyota dealer contact sent me this PDF that was sent directly by Toyota corporate to explain to the dealer network why they should expect to see more hybrids on their lots and not so many EVs or PHEVs. This Is Why Toyota Isn't Rushing to Sell You an Electric Vehicle Essentially what Toyota is saying here is that sourcing the materials for batteries is going to dramatically increase and therefore the costs and difficulty of getting those materials will subsequently rise. The automaker’s position is that those materials can be turned into a lot more hybrids at more affordable price points versus PHEV and EV models. Toyota also makes the point that the charging infrastructure in the U.S. right now still has a long way to go before it can handle a proliferation of full EV models on the roadways. The other hurdle for most Americans is that EVs and PHEVs can be expensive compared to their gas or hybrid counterparts. Now that the Inflation Reduction Act has eliminated a substantial chunk of EV/PHEV vehicles that qualify for the tax credit, dealers and automakers are reporting a reduced interest in those vehicles. I can tell you from my own experience as a professional car shopper, I was getting a lot of requests for cars like the Kia EV6 and Hyundai Ioniq5 when those vehicles first launched and they still qualified for the $7,500 credit. Now that the rules have changed, customers don’t find them to be good values anymore. On the other hand, customer interest in standard hybrids like the all-new Prius is growing. I’ve recently gotten more inquiries on that new Prius than at any point in time in my career when I compare it to the previous generations of Prii. I also have clients willing to wait upwards of 9-12 months to score a Sienna because it’s a hybrid minivan, as compared to an Odyssey that can be sourced now. Of course, Toyota still offer EV and PHEV models; the bZ4X is off to a slow start while the RAV4 Prime continues to be a hit. The automaker is known for a cautious approach to the market and has historically taken an “if it ain’t broke, don’t fix it” product strategy. While the future might be electric, for the time being, it seems like the majority of car buyers want something in between.