GM just revealed a Super Bowl ad featuring Will Ferrell and Queer Eye’s Antoni Porowski as well as references to Netflix shows such as Squid Game, Stranger Things, Bridgerton, and Army of the Dead. The message of the main ad is that GM is going electric, and Netflix will be … [continued]
A new study by researchers at the Keck School of Medicine of USC, published in the Science of the Total Environment journal, has found a link between the increased use of zero-emission vehicles (ZEVs) and improved air quality and public health in California. This is one of the first studies … [continued]
The classification decisions made by the Treasury are not consistent with either the letter or intent of the Inflation Reduction Act, are unfair to full battery electric vehicles, and are confusing for consumers.
Tesla’s stock is tumbling in the largest decline in TSLA history, and the media is in a frenzy. The headlines on Tesla are starting to include the words such as “troubles,” “struggles,” and even “doomed.” The narrative says Tesla’s demand is falling, its balance sheet is in terrible shape, and Tesla will run out of cash in 10 months. The narrative also claims that Tesla will miss expectations in the second quarter, and one analyst says that Tesla might go to $10/share from the current $190, which is already down >50% from the highs. However, the data show that none of that is true. Tesla’s orders are at an all-time high in North America and worldwide, the balance sheet is the strongest it has been in 6 quarters, and the average 12-month price target among analysts is $276/share, or 46% higher than today’s price.
While the financial media and analysts continue to question Tesla’s demand on the basis of one unusually “bad” quarter, quarterly data and internal Tesla emails show worldwide order rates are actually up 25% in Q2 versus Q1. Meanwhile, a crowdsourced Tesla order tracker shows US and Canada Model 3 orders are up 116% versus Q1, and website traffic and interest data show that interest in Tesla’s vehicles is higher than in the past.
Analysts seem to talk about Tesla’s “cash problem” often, especially leading up to the $920 million bond repayment and after the Model Y event. Tesla has access to so many sources of liquidity that the “cash problem” is a mythical problem.
Despite intense media scrutiny around all things Tesla, Tesla’s Model 3 has maintained its status as the #1 best selling car in the US in terms of revenue. That goes for both September and all of Q3.
Despite intense media scrutiny around Tesla’s Model 3 “production hell” ramp, and Elon Musk’s take-Tesla-private drama, Tesla now has the #1 best selling car in the US. You may think that was a typo, but read on.
