Tesla Q1 2023 China made EV sales far better than analysts forecast

Tesla Q1 2023 China made EV sales far better than analysts forecast
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[@MrEd2291]

Tesla is producing five EVs right now: 3, Y, S, X, and Semi. Later this year Tesla will add the cyber-truck and next year Tesla will add model 2. Sales and profit go up, no debt, and legacy auto steadily diminishes. Tesla is not having a problem.

[@thedualtransition6070]

The S and X arnt really selling after two rounds of price cuts. Tesla cut prices again in Europe a few weeks ago and now in Australia, thats after two rounds of price cuts in China, and the big cuts elsewhere in January. With the Model 3 using Chinese batteries in the US they may very well have to slash that price to make up for the loss of the IRA subsidies. The cyber truck will only deliver in volume sometime in 2024 and is pretty much restricted to the US market for volume sales. Model 2 will be out in 2025 if we are lucky. Sales may go up, profits will go down, thats what happens when you slash prices so much. And the US and Europe are now entering whats looks like a deep recession.

[@airheart1]

@@thedualtransition6070 😃😂😂

[@wa7215]

Sam, why is this a surprise..?? Even the Chinese recognise the ‘Quality’ of Tesla EVs, and that’s why, Tesla, is second only, to BYD, in the number of new EV sales in China

[@Bryan-fb8dh]

I know domestic sales are strong for Tesla but if it ever started to ease they can lean into exports. Their production stays consistent, their suppliers always know orders will stay consistent, workers know their jobs are safe. It all means a well oiled efficient machine and when you can predict your future cutting prices becomes much easier. Proactive vs reactive pricing.

[@rodneyoneill75]

I just read the latest vfacts for March, a bit over 7% sales pure electric in Australia.

[@HedzOniZ]

Cam resolution: Tesla Model S: 1.8 MP Nio ET7: 8 MP Processing power: Tesla Model S: 10 TFLOPS Sony PS5 10.8 TFLOPS Nio ET7: 1016 TFLOPS

[@protagonist9716]

BYD GAC also avoided chaos. Denza also gaining strength. Atto3 was best selling car in Israel in March. BYD sold 350 cars in Brazil also in March and just entered entered Mexico and Spain

[@thedualtransition6070]

Thankyou for some perspective. Having to slash your prices in China twice within a few months and then only just about maintaining the sales level, as Tesla has done, is not success. Lets see what happens when the BYD Sea Lion comes out as it is a direct competitor to the Model Y. Tesla is making no money on its EV sales in China while BYD is making good money on its EV sales in China. That is a reality which should be very worrying to Tesla, and as you say GAC is coming up fast. And Tesla keeps cutting prices globally, 6% in Europe a month ago, significant reductions in Australia recently (where BYD entered recently), not a sign of strength. More a desperation to meet sales volume targets at the cost of profits.

[@nguyep4]

@@thedualtransition6070 Talking about false information, Tesla is making more profit per EV than anyone in any market. They could fall another 10% and still have healthy margins. Not sure where you get your information they don't make money in China, either you are ill informed or making things up. Fyi, Tesla can choose to take zero profit in China and screw up the Chinese car market even worst. Luckily Tesla doesn't have the production capacity to take the influx of order.

[@rsaggar]

​@@thedualtransition6070 oooooooh.... Burn? You lost me when you said Tesla is not making money in China. 😮😮😮

[@thedualtransition6070]

@@rsaggar I said that Tesla is not making money on cars sold in China. Nice attempt at "misinterpretation" but pretty pathetic.

[@rsaggar]

@@thedualtransition6070 lol. I get it. Tesla is losing money on each car sold in China. Nice try. Pretty pathetic

[@Trilobite45]

I suspect the buyers in Europe may be considering the longevity & warranty of Chinese automakers as you noted thousands are going out of business. Who wants an orphan EV without a manufacturer to honor its warranty?

[@r.a.monigold9789]

Tesla directive - Cooperation before confrontation. In China. Germany. California. Texas. New York. Mexico. Japan. Etc. Tesla is sought after as a customer or business provider throughout the World. Why? This directive.

[@Beatles4Sale.]

With Berlin adding a third shift, probably increasing production to 7500 cars per week, the Chinese factory will be delivering more to the Far East. I expect further price cuts soon. ❤❤❤

[@thedualtransition6070]

Shanghai makes its profits by selling cars to the European market where it can charge more, its at best breaking even selling cars in China. With less cars going to Europe (Berlin's increasing output) Shanghai will have to cut prices to move product - a very bad mix for its profitability outlook. A big possible curve ball is the BYD Sea Lion, if it takes substantial sales from the Model Y Shanghai is in deep doo doo.

[@ianburnett4605]

Just sold one of my Craptivas which means placing an EV order is probably imminent. Will it be a model 3.

[@ChrizzeeB]

Are you really a Viking? Are you electric? I WANT THE TRUTH

[@coolranch1660]

He looks very Vikingish, and he has a reservation in for the Cyber Truck

[@billwedeking797]

The Chinese public in general and automarket sees American Technologies and brands as a unique prestige symbol.

[@goldman77700]

Not just American but foreign tech and commodities in general. They have many companies that pretend to have foreign roots like Japanese or Italian. Using actual foreigners in China make their deception all the more real.

[@superpowerdragon]

not anymore, especially with ev

[@qilu2004]

no other brands have cut prices as aggressively as tesla yet they survived just fine. that spells trouble for tesla.

[@MrEd2291]

"...they survived just fine.." Not true. ICE and legacy auto are steadily going down while Tesla is going up in sales and profit. This trend will continue each quarter this year.

[@nguyep4]

@@MrEd2291 probably trolling hard.. Ford is expected to lose Billions in the coming years ramping up EV or GM not expecting profitable until 2026. But they are fine according to this troll and to top off the stupidity, Tesla is in trouble even though Tesla shows everyone how they are reducing production costs by half. People are blind by bias, ie. VW shows off a prototype ID2 and people like him were WOW and said Tesla should have a new shiny object at investors day. Lol

[@thedualtransition6070]

Tesla ran down their order backlog at the higher prices, which took a bit longer because of the Shanghai production cuts in mid 2022. When that order backlog started to run out their sales started to tank, so they slashed prices. They will be saved in the US by ongoing government subsidies (the IRA) which helped cut the real price of their cars without cutting their profits and the shortsightedness of the competitors. No such luck in China (under 10% market share), and increasingly Europe and the rest of the world outside the US as the Chinese manufacturers increase their footprint. Would BYD have cut prices again recently in Australia if BYD had not entered that market?

[@nguyep4]

@@thedualtransition6070 lol IRA isn't to help Tesla. Tesla exhausted its $4500 after sold 200k EV and Tesla was very profitable despite no more subsidies. With the unnecessary IRA, Tesla will benefited the most as they are they only one to build in high volume. The IRA is a handout for the legacy to compete with the Chinese markers. Oh yeah, China heavily subsidize its EV makers but you don't seem to mentioned that. Lol

[@qilu2004]

@@MrEd2291 i was talking about ev makers not ICE.

[@CYBER-EV]

The Shanghai factory has consistently pumped out units for a while know......54% of Tesla's worldwide is amazing.

[@larryevans6739]

Tesla seems to be keeping pace with the overall NEV market growth in China after their March performance, so they are no longer losing market share. This is a significant improvement and better than expected based on Jan and Feb. How this holds with all the new models being introduced by competitors in 2Q (some directly competing, like the Denza N7) will be interesting.

[@nickmcconnell1291]

Scarily, I think the overall Chinese car market may go way down as a downturn in their economy starts to get worse. Those 4 million gas cars sitting in lots may never be sold even at steep discounts. The resulting losses on the JVs that made them will reflect heavily on their books in the third qtr. My prediction is that this Chinese downturn will be the straw that broke the camel's back and will start the dominoes falling that will end the OEMs that are part of those JVs. Previously I had thought that would happen after 2026..... now it might be earlier.

[@protagonist9716]

China economy is rebounding and expect to grow 5% in 2023. The auto price war is due to stricter emissions control

[@nickmcconnell1291]

@@protagonist9716 Excellent news. Yeah I think this particular vid has made some serious mistakes in why there are all these cars. I don't normally watch this channel and probably won't again because they seem to have a political axe to grind.

[@Fauzanarief-n7i]

Most of if is because of china car price war, and most of car that unsold are legacy auto gasoline car. Which is bad for VW, mercedes, and audi that depend on chinese market

[@prmurray9501]

​If Tesla had 10 million $25k EVs in inventory right now, would they be able to sell them all in the next 12 months?

[@mikel4879]

prmurray9 • If they had them now, they would sell all of them internally, on the USA car market, and externally, on the international car market. But now and not next year! Next year will be a different thing, as the international competition in this segment increases.

[@bjornhelgason1879]

I just saw the police have a tesla

[@borshardsd]

We the people can be dum. Sir are you a real viking? Currently ransacking anything good? Plunder an coastal towns? What makes you electric? Ty for the content Sam! F cancer

[@SuperMassman]

☝️🧐,,, let's talk about the EV BATTERY DISPOSAL FUTURE DISASTER. Old batteries dumped and leaking toxin's

[@MrEd2291]

Not true. Redwood has shown batteries can be effectively recycled.

[@peterlittlejohn8933]

Along with all the Gold, sliver, platinum and other precious metals that is thrown away. Take a look at what Redwood Materials and other recycling plants are doing with old and damaged batteries. The material from old batteries becomes even more pure after recycling ready to make more new batteries.

[@polaris1985]

Everybody having the same car makes the car look bad, I would suggest tesla to start making new models atleast 10 more

[@protagonist9716]

Model 2 will launch in 2030. And roadster in 2040. They will hoo haa with cybertruck cartoon for next 8 years.

[@polaris1985]

@@protagonist9716 lame strategy, they could have sold 500k cyber trucks till now

[@kuznacbendelejev6924]

Tell that to iphone users

[@protagonist9716]

@@polaris1985 Your right. If Tesla launches many models than it would remain the largest pure EV maker. But no they will sell old design with lower and lower prices. This dilutes the brand further and further....

[@polaris1985]

@@kuznacbendelejev6924 iPhone is a premium brand that costs just $1200-$1500 while a premium car costs $60000

[@bye7555]

Why you don't cover EV fires in China? 🤔 Tell the good and THE BAD about EV's in China

[@YXZ-ry3kr]

In fact, the self ignition rate of EV is still lower than that of gasoline vehicles at present. EV 0.72 GasV 1-2%

[@bye7555]

@@YXZ-ry3kr SEE WORLD SMH.... EV's has not reached the level of ICE vehicles. There are BILLIONS of ICE VEHICLES ALL OVER THE WORLD. EV's is a very small percentage of that but FIRES ARE HAPPENING IN LARGE NUMBERS ESPECIALLY IN CHINA BECAUSE CHINA HAS MORE EV's THEN ANY OTHER COUNTY

[@bye7555]

@@YXZ-ry3kr The Electric Viking just put out a video on this subject...... THIS IS WHY YOU CALL OUT PEOPLE. GREAT JOB ELECTRIC VIKING 👏 👏👏

[@bye7555]

@@YXZ-ry3kr 😤😤😤😤😤😤😤😤😤😤😤😤

[@Ling-vz3ue]

How about Chinese made EV fires in China?