Posted on 04/27/2024 2:27:01 PM PDT by E. Pluribus Unum
Tesla has certainly seen better days. In 2023, Tesla sold 55% of the EVs in America, far ahead of the second-place EV seller, Ford, which sold 6% of the total EVs sold. This makes Tesla a barometer by which much of the entire market can be measured. Experts say that some of Tesla's difficulties are a result of how Tesla is run, but some of the problems are systemic to the industry as a whole.
Drop in Income, Stock clawing its way back
On Tuesday, Tesla reported a 9% drop in revenue in the first quarter, which was the largest drop the company had seen since 2012. Net income dropped 55% to $1.13 billion from a year ago, which was an even bigger drop than was seen during the 2020 pandemic. It was also below analysts’ consensus estimates, according to the Wall Street Journal.
Telsa's stock has been battered over the last week, but bulls have rallied around it. Over the past five days, shares sunk to a low of $140.90 and climbed back to $158.96 on Thursday's opening bell, according to data from Barron's. The stock's performance YTD peaked at $299.29, and its lowest point was as low as $138.00. According to Marketwatch, currently 15 analysts placed a "buy" recommendation and 22 others rated Tesla stock as a "hold." Nine analysts rate the stock as a "sell."
Autonomy
On the company’s earnings call, CEO Elon Musk said that Tesla would start production of new models in early 2025 or possibly earlier. This car, he said, would be produced with its current production lines, which would be more efficient. He had previously stated that a cheaper alternative to its current models would be available.
(Excerpt) Read more at justthenews.com ...
Tesla Model S Plaid, 1,020 horsepower, 0-60 in 1.99 seconds, 1/4 mile: 9.23/155 mph.
Yes. I got my Apple II PC in 1977. They were advertised as "PC" back then. All of 4K RAM memory, of which only 2K was usable by me for programs, written to cassette tape. I soon added floppy drives, more memory, then a hard drive and modified the motherboard with my own code in EPROMS. I still have that machine, upgraded to run on a flash drive with thousands of programs built in, with speech and music processors, still runs.
But, for my jobs I needed IBM PCs, got a 80186 running 6MHz. Faster and better machines came out at a brisk pace in the early 1980s, and got cheaper. The thing I liked about early machines was the ability to easily manipulate the hardware and software, even controlling floppy and hard drives at the byte level (where you could defeat copy protection on hidden tracks). All concepts that matched the big machines I worked on (mainframe and mini computers).
All this was similar to automobiles. One of my hobbies was working on cars, where I rebuilt engines and transplanted them in different cars. Now, I won't touch modern engines with all the computer components in them. I still have a couple 1960's era cars that are very easy to work on, modified the intake ports and cams. I imagine that it is the same case with early EVs, easy for hobbyists to tinker with, before they become too complicated as they are improved. I have an EV that I've owned for 5 years, and might tinker with it when it gets older just for the heck of it.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.