Tesla's Performance Falls Short: What Went Wrong? Why is the Stock Up?

Tesla 1st quarter of 2024 earnings show its market value has lost money in 2024. Shares are down 40%. Tesla Q1 net income drops 55% to $1.1 billion; revenue slides 9% to $21.3 billion.Tesla reported an 8.5% fall in Q1 deliveries - its first decline since the second quarter of 2020. Tesla has relentless cuts to its sticker prices which is not helping the bottom line.
New Tesla Model 3 Performance was announced, and boasts more than 500 horsepower and a claimed 0-60 mph time of 2.9 seconds. Additional enhancements include sport seats, upgraded brakes, adaptive dampers and carbon-fiber bits. It's available to order now, with deliveries starting next month.
Overall, Tesla fell far short of expectations in its eagerly awaited earnings report Tuesday afternoon, but its stock rallied considerably as the company emphasized its pathway to sustainable growth. After hours showed an almost $20/share increase, investors like what Elon Musk had to say.
Tesla claims it will have a low-cost vehicle, whatever that means, in late 2025. Also discussion on the Robotaxi which will be shown August 8, but no other update on timing.
The limping Tesla reported its first-quarter vehicle deliveries earlier this month, coming in far below expectations as the company grapples with demand issues for electric vehicles globally, especially in China.
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Courtesy CNN International
#byd #car #ev #tesla #elonmusk #musk #model3 #china #fsd #kodakblack
0:00
0:57 $25,000 car
2:03 Tesla sales
2:42 #robotaxi
5:00 Elon Musk comments

[@nordlandak6853]

Low margin car going to do what? Customers don’t want it…

[@martentrudeau6948]

A Low margin car that is disposable, as all EVs have batteries that are disposable.

[@opencarry3860]

I sure dont want it.

[@seymorefact4333]

🤩🤩i do! BRING BYD,, ZEEKR, NIO, HUAWEI, XPENG, ETC TO THE USA! BYD SEAGULL FOR $11K AND 250 MILE! I'M IN! DUHHHH...$70K PRICE TAG! AND THE USA GOVT involvement in MARKETS!

[@mrjim1973]

Musk & most if not all EV makers are very disconnected from the average consumer & most auto enthusiasts! They are appealing to certain people, though not the majority in the USA.

[@neubauerjoseph]

I agree and I think musk thinks well of I just frame it the right way I will get out of trouble. He has dodged so many bullets he thinks he is invincible.

[@seymorefact4333]

🤩🤩i do! BRING BYD, ZEEKR, NIO, HUAWEI, XPENG, ETC TO THE USA! BYD SEAGULL FOR $11K AND 250 MILE! I'M IN! DUHHHH...$70K PRICE TAG! AND THE USA GOVT involvement in MARKETS!

[@opencarry3860]

BEV, that's what went wrong. There is no substitution for the forced induction internal combustion engine.

[@seymorefact4333]

🤩🤩i do! BRING BYD, ZEEKR, NIO, HUAWEI, XPENG, ETC TO THE USA! BYD SEAGULL FOR $11K AND 250 MILE! I'M IN! DUHHHH...$70K PRICE TAG! AND THE USA GOVT involvement in MARKETS!

[@germanium1872]

My 2 favorite kinds of cars to drive are V8s, and EVs

[@zenbyo]

I enjoy watching videos like this when the stock starts climbing up.

[@user-xh2ex7bx4b]

But Elon has told us that we will all have 5 Robo Taxis fixed by Robots...will work great in Manhattan what with all of the free charging stations.

[@Fuckit96]

I'm getting 34 city average and 42 hiway with my 2023 Toyota Corolla XSE. I can get to point A and b before a Tesla. 🤣

[@martentrudeau6948]

"THEY" may force us to buy EVs by eliminating or restrict our access to petrol. This about controlling us, not about saving the "planet", that's a lie.

[@opencarry3860]

True. Tesla vs Corolla driving a 1000 mile road trip, Corolla wins by hours.

[@hughmann1908]

Suuure, Elon never lies, I know my Roadster is right around the corner 😂

[@amigos806]

Anyone else think Lauren is getting throttled down by KZbin due to her views on upcoming auto regulations being too controlling and unrealistic? I see her all over the news channels commenting on the industry but this channel is slogging in the mud…..

[@michaeld5888]

Is that cheap car plan what is already common practice and called cut and weld in the criminal fraternity?

[@matthewgraham2546]

Maybe a homing pigeon! lol

[@N1WP]

Tesla's suck and nobody wants an EV!

[@seymorefact4333]

🤩🤩i do! BRING BYD, ZEEKR, NIO, HUAWEI, XPENG, ETC TO THE USA! BYD SEAGULL FOR $11K AND 250 MILE! I'M IN! DUHHHH...$70K PRICE TAG! AND THE USA GOVT involvement in MARKETS!

[@alexander98502]

People like going to car dealers? Surprised to hear that. I guess expert knows best. Does anyone here like the dealership experience of buying a car? Everyone pays different price for same vehicle

[@germanium1872]

I don't agree with you on this one. I hate the dealership experience. I also hate taking my car to the dealership to get repaired or serviced. The dealership model is antiquated and, I wish sales were direct to customers.

[@davidkrampel5478]

tesla dodo bird mk11

[@codywy5579]

Yep. Musk had been promising full self driving for 10 years, so makes sense to believe anything he says. ✅️✅️✅️

[@barackblows1942]

FEVs and FJB. 🥶🔥🖕🇨🇳

[@S2NAZ]

Elon’s a smart man, he knew to build the infrastructure. Like the ICE cars, you build out the fuel stops then produce more cars. The Tesla electric charge grids are where the moneys made, now he’s leading those out to other manufacturers.

[@germanium1872]

Lauren, you should put your money where your mouth is I love your channel, but we cannot respect your opinions on EVs until you have owned one. We know you owned a lot of trucks and cars, but have you owned a Tesla or any other EV? I'm a gear head and I've owned all types of gas cars. Last year we purchased 2 cars. I bought a 2023 Suburban, and my wife bought a 2023 Tesla Model Y. I find myself driving my wife's car way more than my own. Tesla ownership is truly awesome. We have basically left the Suburban for family road trips.

[@northdakotaham1752]

A Suburban and a Tesla?? Total apples and oranges comparison. Vehicles on the opposite ends of the transportation spectrum.

[@CNile-se9xw]

@germanium1872 I'd expect Lauren to have had many opportunities to test-drive EVs, so maybe she doesn't want one? 😉

[@RichSmithify]

That the story for the majority of EV owners. They have a gas powered vehicle on standby for those times when they actually want to go somewhere.

[@northdakotaham1752]

@@CNile-se9xw the car market appears to support the obvious lack of interest in buying an EV.

[@northdakotaham1752]

@@RichSmithify the EV might be a good fair weather urban commuter....but that's it. An expensive urban commuter.

[@explorenaked]

There is a new Cyber Truck in our neighborhood. I now understand why no one is buying them. That is the ugliest thing on four wheels. Honestly, it is just ridicules looking and will never be adopted by real truck users. It's for people that want to be trendy.