If 184 holds as new support, the next expected level is 208. For those who bought at the 101 bottom , for those who expected 5..
https://www.visualcapitalist.com/charted-teslas-unrivaled-profit-margins/ Visual Capitalist SUBSCRIBE MARKETS Charted: Tesla’s Unrivaled Profit Margins Published on February 3, 2023 ByMarcus Lu Chart: Tesla’s Unrivaled Profit Margins In January this year, Tesla made the surprising announcement that it would be cutting prices on its vehicles by as much as 20%. While price cuts are not new in the automotive world, they are for Tesla. The company, which historically has been unable to keep up with demand, has seen its order backlog shrink from 476,000 units in July 2022, to 74,000 in December 2022. This has been attributed to Tesla’s robust production growth, which saw 2022 production increase 41% over 2021 (from 930,422 to 1,313,851 units). With the days of “endless” demand seemingly over, Tesla is going on the offensive by reducing its prices—a move that puts pressure on competitors, but has also angered existing owners. Cranking up the Heat Tesla’s price cuts are an attempt to protect its market share, but they’re not exactly the desperation move some media outlets have claimed them to be. Recent data compiled by Reuters shows that Tesla’s margins are significantly higher than those of its rivals, both in terms of gross and net profit. Our graphic only illustrates the net figures, but gross profits are also included in the table below. Company Gross profit per car Net profit per car Tesla $15,653 $9,574 GM $3,818 $2,150 BYD $5,456 $1,550 Toyota $3,925 $1,197 VW $6,034 $973 Hyundai $5,362 $927 Ford $3,115 -$762 Xpeng $4,565 -$11,735 Nio $8,036 -$19,141 Data from Q3 2022 Price cutting has its drawbacks, but one could argue that the benefits for Tesla are worth it based on this data—especially in a critical market like China. In the case of Chinese EV startups Xpeng and Nio, net profits are non-existent, meaning it’s unlikely they’ll be able to match Tesla’s reductions in price. Both firms have reported year-on-year sales declines in January. As for Tesla, Chinese media outlets have claimed that the firm received 30,000 orders within three days of its price cut announcement. Note that this hasn’t been officially confirmed by anyone within the company. Tit for Tat Ford made headlines recently for announcing its own price cuts on the Mustang Mach-E electric SUV. The model is a direct competitor to Tesla’s best-selling Model Y. Chevrolet and Hyundai have also adjusted some of their EV prices in recent months, as listed in the following table. Model Old Price New Price Discount Tesla Model Y Long Range $65,990 $53,490 18.9% Chevrolet Bolt EUV 2023 $33,500 $27,200 18.8% Tesla Model Y Performance $69,990 $56,990 18.6% Chevrolet Bolt 2023 $31,600 $26,500 16.1% Tesla Model 3 Performance $62,990 $53,990 14.3% Hyundai Kona Electric 2022 $37,390 $34,000 9.1% Ford Mustang Mach-E GT Extended Range $69,900 $64,000 8.4% Tesla Model 3 Long Range $46,990 $43,990 6.4% Ford Mustang Mach-E Premium AWD $57,675 $53,995 6.4% Ford Mustang Mach-E RWD Standard Range $46,900 $46,000 1.9% Source: Observer (Feb 2023) Volkswagen is a noteworthy player missing from this table. The company has been gaining ground on Tesla, especially in the European market. This decision could hamper Volkswagen’s goal of becoming a dominant player in EVs, especially if more automakers join Tesla in cutting prices. For now, Tesla still holds a strong grip on the US market. Thanks, Elon Recent Tesla buyers became outraged when the company announced it would be slashing prices on its cars. In China, buyers even staged protests at Tesla stores and delivery centers. Recent buyers not only missed out on a better price, but their cars have effectively depreciated by the amount of the cut. This is a bitter turn of events, given Musk’s 2019 claims that a Tesla would be an appreciating asset. I think the most profound thing is that if you buy a Tesla today, I believe you are buying an appreciating asset – not a depreciating asset. – ELON MUSK, CEO, TESLA These comments were made in reference to Tesla’s full self-driving (FSD) capabilities, which Elon claimed would enable owners to turn their cars into robotaxis.
and it the shortcuts show....yuck, what a disaster. Imagine using high density cells only to end up w/a slightly above average energy density pack that you've potted w/polyurethane? I hope those cells like heat.
TSLA closing at 201, meaning it's up 98% from its early January low. Not too shabby. Next support is 208, which I expect will be reached in the coming days, so I'm looking at the next level of 233, which we could see around March 1, at Tesla Investor Day.
Yeah, I admit when I saw that I thought the same thing. Looks beta to me. Needs a simple process to remove/replace defective packs.
I heard similarly (I think based off an Elon tweet) but i saw a model y pack w/the smaller cells potted the same way so I don't buy it. The "fireproof to prevent thermal runaway" sounds more plausible but I think it's likelier to be for NVH reasons. I've got a feeling they've been bleeding talent as this looks amateurish compared to prior modular packs. In any case, they've been following the apple model against right to repair so this tracks. So much for reducing the environmental impact.
The pressure is on for Friday at 200 from options. Expecting a slight pull back from today's 208 close but strong long next week beyond 220.
The market is wide open and ready for competition: https://www.france24.com/en/europe/...oval-to-2035-ban-on-new-fossil-fuel-car-sales EU gives final approval to 2035 ban on sales of new fossil fuel cars Issued on: 14/02/2023 - 16:20 Cars drive on the Mittlerer Ring in Munich, Germany, February 1, 2023. © Lukas Barth, Reuters Text by:NEWS WIRES The European Parliament on Tuesday gave its final approval to a ban on new sales of carbon-emitting petrol and diesel cars by 2035, with a view to getting them off the continent's roads by mid-century. European Union member states have already approved the legislation and will now formally nod it into law at an upcoming ministerial meeting, despite opposition from conservative MEPs, the parliament's biggest group. Supporters of the bill had argued to that it would give European carmakers a clear timeframe in which to switch production to zero-emission electric vehicles, and spur investment to counter competition from China and the United States. This, in turn, will also support the European Union's ambitious plan to become a "climate neutral" economy by 2050, with net-zero greenhouse gas emissions. "Let me remind you that between last year and the end of this year China will bring 80 models of electric cars to the international market," EU vice president Frans Timmermans warned MEPs. "These are good cars. These are cars that will be more and more affordable, and we need to compete with that. We don't want to give up this essential industry to outsiders." But opponents argued that neither European industry nor many private motorists are ready for such a dramatic cut off in production of internal combustion engine vehicles -- and that hundreds of thousands of jobs are at risk. "Our proposal is ... to let the market decide what technology is best to reach our goals," said MEP Jens Gieseke, a member of the centre-right European People's Party. Gieseke declared that arguments from Green and socialist MEPs that electric cars are cheaper to run had been rendered "null and void" by the crisis of soaring energy costs. "In Germany 600,000 people work on ICE production, those jobs are at risk," he declared, urging the European Commission to rethink plans to also extend the ban to trucks and buses. The EPP group warned of what it said would be the "Havana effect" – Europeans continuing to drive vintage fuel-burning cars after new sales are banned because they can't find or afford an electric. Opponents also argue car batteries are produced abroad by Europe's competitors like the United States, but Timmermans argued that thanks to EU-backed investment European production would increase. Green MEPs stressed the importance of the ban in reducing emissions and pollution. Victory for the planet? Karima Delli, president of the transport committee, declared: "Today's vote is a historic vote for the ecological transition. "We will no longer, or almost no longer, have petrol or diesel cars on our roads in 2050 ... it is a victory for our planet and our populations" Cars currently account for about 15 percent of all CO2 emissions in the EU, while transportation overall accounts for around a quarter. In October last year, EU member states, the European Commission and parliament's negotiators agreed on a proposal to reduce CO2 emissions from new cars in Europe to zero by 2035. In practice, in the final legislation, this means a halt to sales of new petrol and diesel cars, light commercial vehicles and hybrids in the bloc by that date, in favour of all-electric vehicles. US green subsidies Car-making giant Germany and conservative MEPs have been dubious about the new rules, fearing the burden of re-tooling their plants and retraining workers while global rivals have looser targets. But the European car industry itself did not lobby hard against the law, with many firms already jockeying for position in the race to become electric vehicle giants. Since the law began its journey through the EU legislative process, however, the United States has unveiled a huge plan to subsidise the green transition of its own industry with government hand-outs. This has led to fears in Europe that its US rival will siphon away investment and jobs in electric vehicle and battery production. Currently around 12 percent of new cars sold in the European Union are electric, with consumers shifting away from CO2-emitting models as energy costs and greener traffic regulations bite. Meanwhile, China – the world's biggest automobile market – wants at least half of all new cars to be electric, plug-in hybrid or hydrogen-powered by 2035. The law passed the Strasbourg assembly by 340 votes to 279, with 21 abstentions. (AFP)