Tesla Meets Q3 Product Goals of 50,000 To 55,000 Model 3s (electrek.co) 118
An anonymous reader quotes a report from Electrek: Electrek has learned that Tesla already achieved the goal for a new record production with two days still to go before the end of the quarter. As we reported last week, Tesla achieved a new record day of Model 3 production, but it was cutting it close for the quarterly goal. The automaker had been guiding a production of 50,000 to 55,000 Model 3 vehicles for the third quarter. According to a reliable source familiar with Tesla's production, the automaker had a strong week of production and managed to bring the total number Model 3 produced to over 51,000 vehicles. For the first time in months, Tesla was able to produce about 5,000 Model 3 vehicles over seven days. The total production for the week was at around 6,700 vehicles -- bringing the total for the quarter to about 77,400 vehicles. Tesla was able to maintain production of about 1,100 cars per day over four days this week and about 800 Model 3's per day over three of those days. It's one of the highest levels of production that Tesla was ever able to maintain.
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>> If it's over 8 years old, you may have to replace the battery
That'S FUD.
Share price down to $265 (Score:2)
Hey rei, you'll be able to top up your holding, the share price is back down to where you bought in. I wish I had your expertise.
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So now I'm both the anonymous submitter (wrong, as you may have noticed I have no qualms with posting under my own name) and 110010001000 (a person I frequently disagree with)?
I love being omnipresent :)
(And to reply to this post: it's almost as if I have not repeatedly pointed out that my investment timeframe is from between my initial purchase this summer to after the Q4 report).
Tesla Board Inspects the Production Line (Score:2, Funny)
This is video of the Tesla Board inspecting the production line. [youtube.com]
Re: Thanks Rei (Score:2)
Re: Thanks Rei (Score:5, Insightful)
News on production is relevant to profits. News on tweets, Musk's sleep schedule and SEC action is not. I took the dip as a buying opportunity.
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Relevant to what? Does the profit or loss on a model 3 change because Elon's in the shitter? Clue - No. It doesn't.
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Well, if the profit or loss does not depend on how well the CEO is running the company, what's the point of having one?
Re: Thanks Rei (Score:4, Insightful)
Re: Thanks Rei (Score:5, Interesting)
Companies don't live and die by theatrics. They live and die by their fundamentals. The stock jumps and declines based on gotchas, but ultimately it's deliveries, margins, profits, etc that matter. Whether Elon is CEO, a non-executive employee with the newly created job title "Not A CEO", or no longer connected Tesla at all - and whether said status is determined one week from now or ten years from now - the company's fundamentals remain what they are.
Go look at a graph of Tesla's spikes and drops over the past year. How many of those spikes and drops can you, at a glance, remember why they happened? I'm betting it's a pretty small percentage of them. Yet at the time, each drop was people freaking out over something or other in the news, and each spike was people getting overconfident that their good news couldn't possibly be overcome.
Day traders and options traders live and die by these spikes, but for people with a mid to long-term perspective, they're really just static. Lows are a chance to expand your holdings. Highs are a chance to thin your holdings if you think you're overexposed or if you think there's a good chance that the current good news is going to be FUDded back. But in general you hold over your anticipated timeframe until the premises that you based your investment and timeframe on are either confirmed or disproven.
In my case, the premise is "two quarters of profitability with an extremely and ongoing growth story". The timeframe is "Q4 report or later, but unlikely more than two quarters later". Time will tell. In the meantime? Enjoy the noise. :)
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Re: Thanks Rei (Score:4, Insightful)
Also, if you think Tesla needs Musk to thrive... "meh". Did Paypal need him? Don't get me wrong, I like his extremely aggressive moat-bridging business strategies, and am somewhat annoyed about the SEC taking actions that 99% of TSLA shareholders don't want, in order to "protect shareholders". But once you get to a certain point, a company runs on its own momentum. Did Apple just collapse after Jobs died? No, it went on to become the first trillion dollar public company.
I have no clue, BTW, what his odds are against the SEC. I thought the SEC settlement offer was surprisingly mild - it didn't even require him to admit fault. And settlement offers seemingly most commonly call for a five year ban from serving as CEO, but they only called for a two year ban in this case. I don't know why the SEC made such a mild offer, whether it was some form of generosity, or whether they think that they might actually lose this case. But they clearly wanted to settle.
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and am somewhat annoyed about the SEC taking actions that 99% of TSLA shareholders don't want, in order to "protect shareholders"
Goldman Sacs must be short TSLA, since that's the only "shareholders" the SEC seems to care about - probably because the SEC is mostly Goldman alums.
Re: Thanks Rei (Score:5, Informative)
> ban from serving as CEO, but they only called for a two year ban in this case
It was a two year ban on being *chairman*, not being CEO. Which is ironic, I think most people agree some amount of board reform would be good for TSLA.
> I don't know why the SEC made such a mild offer,
Because the SEC neither wants to allow this conduct, nor do they want their enforcement action to be cited as a reason for the failure of TSLA. It was a very reasonable, middle-ground approach to enforcement, IMO.
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50k in a quarter is a very solid number for a sedan in the US. 100k would be amazing - better than Camry sales. Dunno about OP, but I certainly would have bought more.
I would say an active SEC investigation looking to remove the CEO, and a couple of potential DOJ investigations are more relevant.
That won't play out in the next 6 months, which is longer than I plan on holding the stock. And if Tesla survives with stable Model 3 production, are they really worse off without Musk? That might be another buying opportunity.
Re: Thanks Rei (Score:4, Insightful)
50k in a quarter is a very solid number for a sedan in the US. 100k would be amazing - better than Camry sales. Dunno about OP, but I certainly would have bought more.
That's an extreme form of gambling. You would be betting on Tesla becoming a powerhouse of the car industry. Let's look at some company-wide [autonews.com] numbers:
"Toyota Motor Sales U.S.A. said vehicle deliveries in the U.S. fell 2 percent to 223,055 in August, which had the same number of selling days in 2017."
That's over 200,000 in one month.
Now let's look at a comparison of market capitalization in this article [extremetech.com] from one year ago:
"The top automakers, their market caps as of this week (June 19), and 2016 worldwide sales are:
1. Toyota, $155.88 billion market cap, 10.1 million sales
2. Daimler, (Mercedes-Benz), $70.35 billion, 3 million sales
3. Volkswagen, $67.24 billion, 10.3 million sales
4. Tesla, $60.28 billion, 76,230 sales
5. BMW, $54.77 billion, 2.4 million sales
6. GM, $51.45 billion, 9.6 million sales
7. Ford, $44.65 billion, 6.7 million sales"
Is it possible Tesla can eventually achieve numbers that justify their market cap? Yes. But missing in that price is the very real risk that they won't.
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Huh? This isn't a press release, this is part of Electrek's ongoing series of leaks of production rates from someone supposedly working at Tesla. I put "supposed" because you never know with Fred; it could easily just be someone BSing him. That said, there's no shortage of possible legit leakers; there's a display on the lines that ticks up each time a vehicle goes out the door.
Doesn't really matter that much; official delivery numbers come in in just a couple days. It's the rest of the Q3 financials th
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Yeah, that's the most blatant "Don't look at the elephant in the room" press release I've seen. Unfortunately, this elephant is a bit too big not to notice.
To be fair.... Should they just go: "Welp, there's some bad news going on right now. Let's just toss anything positive in the trash."?
Factory gated? (Score:1)
How many of those are actually sellable units ready for customer delivery, and how many are "factory gated" units requiring more labor to fix? TFA didn't say.
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big injection of investor funds coming, Musk said so. Don't listen to those SEC detractors.
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I think you should re-examine your priorities if you take enjoyment in watching someone crack under the pressure.
Even if it's Kavanaugh?
Re: Factory gated? (Score:1)
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What was gained? Nothing.
Clearly at least some enjoyment?
Re: Factory gated? (Score:2)
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you mean someone who makes market B.S. spew to lure investors but finds out that reality doesn't live up to the flying unicorns shitting rainbows between their ears?
fuck 'em, and I'll enjoy that type of marketing wank's downfall if I want.
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None, they make more money per car than any manufacturer except maybe Ferrari. You've probably been mislead by financials that include expenses overall. They spend more money than they make building superchargers and solar and batteries for foreign nations' electrical grid infrastructure, they don't sell cars for more than they cost to make.
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The expenses that matter are the overall ones. Tesla may well be making money on every car in terms of selling price minus cost of materials but, if that's not enough to cover their overheads and servicing their debts, they are in trouble. Anyway, Q3 results are due soon, so we'll find out then if they are going to be OK or in the shit.
Re:Factory gated? (Score:5, Funny)
https://www.youtube.com/watch?v=V_gLOUbQZgk [youtube.com]
Re: Factory gated? (Score:2)
Do the cars even pass through this gate if it's on the way to the rework lot?
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There is a lot of them around now (Score:2)
I saw a model 3 yesterday with the following rego: OILLOL
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Sorry, model; S.
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These used to be quite common on the Model S, mostly prior to 2015. However, most of the ones I've seen since just have ordinary random license plates. Now that the Model 3 has novelty, I wonder how long the fad will last for there.
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I saw a Mustang with the joke from a different angle: MPGLOL. Seems the trick to not caring is not caring.
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Remember that Amazon was a failure for almost two decades, then it started eating everybody's lunch.
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Amazon had funds to do that, and grow. Tesla has about 5 months of cash left in the bank - and then they are bankrupt.
you mean bankwupt
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And making a $billion worth of cars every month won't prevent bankruptcy?
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Remember that Amazon was a failure for almost two decades, then it started eating everybody's lunch.
Amazon has almost always been profitable before re-investment in growing the business. I don't get why people are confused by that - they plowed every dollar they could get their hands on into growth, because the market was there for the first mover. But on any given year, they could have had serious profits if they said "meh, we're big enough".
Tesla is rather more speculative, and their costs don't stop if they decide to stop growing. They have to meet optimistic projections just to service debt, and "ca
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No. Amazon's losses were always planned for expansion and you never felt they were getting out of control. Tesla were ostensibly doing the same thing, but I think they have let things get away from them.
Furthermore, there is a certain amount of survivorship bias. For every Amazon there are twenty start ups that tried to do the same thing and failed.
Still got a ways to go (Score:2)
Ford makes about 1.625 million cars each quarter.
Keep working on it.
Re:Still got a ways to go (Score:5, Insightful)
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lmao when you put it like that, it makes Tesla sound like Heaven's Gate cult.
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lmao when you put it like that, it makes Tesla sound like Heaven's Gate cult.
Well if we're going to follow his thinking then maybe we should worship Microsoft I mean they made $8.8 billion profit.
You would worship them right? Just for profit figures? I mean you'd never praise the Linux kernel team with their zero profit instead right?
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The way Musk has been acting lately, I'm not sure I would let him drive me down the block.
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True, but when we needed to save the world from the Nazi's we didn't do it waiting for an electric tank that would have cost more than the bomb to be made.
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I care! Ford continues to profit of the pollution of our planet. We all should care. We all should condemn them for it.
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Ford's investors. And Tesla's investors. Or were you investing in Tesla thinking that you were somehow also buying into SpaceX.
Also, I see no reason why we'd want a private individual to lead us to Mars, and doubt SpaceX is really going to get there.
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Ford makes about 1.625 million cars each quarter.
Ford made about 21,000 mustangs last quarter, which is the only car Ford will be selling in the future. They make lots of trucks though.
Tesla won't be a real American auto company until they sell pickup trucks. Of course, since no US companies can sell a light truck any more (to meet fuel economy regs), Tesla has a waiting market with no competition. Or if they make a full-sized truck, they could run an ad showing a Tesla towing a Chevy towing a Ford towing a boat, which would go over quite well.
If they
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part of what got the US auto industry in hot water was going all in on SUV's and trucks when oil was cheap (consumer demand and all that, sure) -- then once oil prices go up, surprise! people want cars again.
Apparently Ford did not learn their lesson the first time around, and seem like they're on the verge of going down the shitter again*
*yes i know ford didn't accept any gov't bailout money, but only because they maxed out their borrowing at just the right time, and had the cash on hand and lines of credi
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No, Ford will sell the Focus Active as well,
Well, they sold 0 of those in the US last quarter, so it's still 21,000 cars sold that have a future.
Trucks, crossovers, SUVs - that's what people overwhelmingly buy today.
Well, that's what they buy from Ford, and it is a big market. Toyota still sold 84,000 Camrys last quarter though. I see the Model 3 as a niche car, but if "no dashboard" ever goes mainstream, the market's there.
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The Audi TT goes the other way - no center console screen at all [digitaltrends.com] - still making my mind up about it, but definitely better than the reverse!
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I pity those who live their life in fear. I guess when your parents stopped coddling you and preventing every splinter or stubbed toe and making sure you always won at least a participation award, you realized the world could be dangerous and retreated to a place with no corners, lots of padding, and soothing soft sounds.
Me? I'll enjoy cruising up the PCH in the 'stang to dine waterfront at Avila Beach, or slicing down Mulholland Highway on my motorcycle. Or scuba diving in Indonesia. Or climbing waterf
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Under 6,000 Production Target (Score:1)
For the first time in months, Tesla was able to produce about 5,000 Model 3 vehicles over seven days. The total production for the week was at around 6,700 vehicles -- bringing the total for the quarter to about 77,400 vehicles. Tesla was able to maintain production of about 1,100 cars per day over four days this week and about 800 Model 3's per day over three of those days. It's one of the highest levels of production that Tesla was ever able to maintain.
In other words, Tesla didn't meet their 6,000 production target.
https://www.businessinsider.com/tesla-model-3-production-to-hit-6000-per-week-by-end-of-august-2018-8
Tesla expects to make 6,000 Model 3 sedans in a week by the end of August, the company said in its second-quarter earnings letter
Musk is crazy like a fox... (Score:1, Troll)
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Karl Marx already covered this. History only repeats itself as farce.
Financials are ugly (Score:2)
https://www.marketwatch.com/in... [marketwatch.com]
Annual consolidated net income
* 2013 loss 74.01 Million
* 2014 loss 294.04 Million
* 2015 loss 888.66 Million
* 2016 loss 773.05 Million
* 2017 loss 2.24 Billion (With a "B")
So far in 2018
* Quarter ending Mar 31, 2018 loss 709.55 Million
* Quarter ending June 30, 2018 loss 717.54 Million
i.e. 1.427 Billion total loss first half of 2018