https://www.reuters.com/business/autos-transportation/tesla-misses-first-quarter-delivery-estimates-2023-04-02/ Retail expected 450k deliveries hence stock price was soaring last week (along with all the call options). Wall Street expected greatly beating 432,000 deliveries. Actual: 422,875 deliveries Macro economy is tapping out consumer demand for Tesla. Retail unable to afford Tesla even after multiple price cuts. For Tesla to stick to its growth story, it needs to further cut prices and greatly hurt its profit margins. Tech layoffs, financial sector uncertainty (eg: banks), high interest rates, record high credit card loans, record low savings, high inflation, uncertainties globally. Consumers are being tapped out. Not surprising as Tesla buyers are upper middle class and upper middle class job market is unstable in current environment and for the foreseeable future. Also implies no more higher profit margins as the car needs huge slashing on its pricing in this economy.
Some buyers who would have considered Tesla in the past are turned off by Elon’s public behavior and don’t want to be associated with supporting his company.
Lol not true. Psychology doesn’t work like that. People rarely give 2 f**ks about a person’s or company’s ethics if they find true value in that product. The drop is less than 5%. That drop has certainly more to do with interest rate hikes, affordability, job insecurity, bad economy etc. Come out of your well!
+1
I can afford a Tesla. It's just a shit car
📉📉📉📉 Competition here. Ponzi will crumble.
Surprising that they sold even that many
Negative headline. Estimates were 420k based on Bloomberg estimates. Reuters hating as usual 😮💨 It’s actually not that bad you know.
It doesn’t seem far off of projections though I wouldn’t support that circus for anything.
Yeah just 36% YoY growth. Completely ridiculous.
It's obviously because of the Twitter layoffs