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It's from the fact that the demand is falling and they need to slash prices to continue to sell. They benefited greatly from Covid price surges, but this is abo
by TheAlchemist 3y ago
It's from the fact that the demand is falling and they need to slash prices to continue to sell. They benefited greatly from Covid price surges, but this is about to end. In a 'normal' year, they can't sell that many cars at the prices they did last year - let alone in a 'recession' year.
I don't think their did any investor guidance about profits - I may be wrong though.
Re factories - I don't think they are building any new factories now - are they ? The only one announced is Mexico, but they still don't even have the official permits yet.
- jandrese 3y agoYou can download the investor report once a quarter from their website. https://ir.tesla.com/#quarterly-disclosure https://ir.tesla.com/#quarterly-disclosure Deliveries are currently on track and each vehicle delivered is profitable, with a larger margin (18.2%) than any other major car manufacturer. This may not be true with the first Cybertruck deliveries later this year, but total number of delivered Cybertrucks will be tiny. Cybertruck deliveries should ramp up in 2024 and the margins should improve.
- TheAlchemist 3y agoThere is no guidance in those investors reports. About those large margins - yes, they are a bit higher than others, but it's not that much - and they appear much more price sensitive now. Thing is, they compare themselves to Ford / Toyota etc, while they don't sell nearly as many cars. A much better comparison is to the likes of BMW / Mercedes - but it doesn't paint the same picture. Cybertruck deliveries are definitely not happening this year (unless we talk about <100 units for marketing purposes - much like the Tesla Semi deliveries start a year ago...)