Independent thinking for complex markets and current events
On Tuesday, weekly car insurance data for China was released, indicating that Tesla sold 11,000 vehicles in the country from April 29 to May 5. This includes 600 units of the revamped Model 3, with the remaining 10,400 units being Model Y. Comparing to the same week last year, Tesla registrations were 96 percent higher, up from …
Tesla, Citigroup, and Dell have collectively cut 50,000 jobs, while trucking giant Yellow, with 12,000 trucks, has collapsed. This trend suggests a significant deterioration in employment, as historically, whenever unemployment rates exceed the 2-year moving average, a rapid increase in unemployment follows. Tesla has cut 15000 jobs, Citigroup cuts 20,000 jobs, Dell Computers cut 15000 …
Tesla’s abrupt decision to lay off its electric-vehicle charging team and reduce its investments in public charging is a blow to the U.S. network, which has long relied on Elon Musk to build the bulk of the country’s fast chargers. The sudden layoffs this week left Tesla construction vendors uncertain whether to carry on with …
BREAKING: Tesla stock, $TSLA, surges 11% as China removes restrictions on its vehicles after passing data security requirements. The move has made it far more likely that Tesla’s Full Self Driving (FSD) will soon be available in China.$TSLA is now up nearly 40% since its low… pic.twitter.com/JSSVH2yK0s — The Kobeissi Letter (@KobeissiLetter) April 29, 2024 …
Federal authorities say a “critical safety gap” in Tesla ’s Autopilot system contributed to at least 467 collisions, 13 resulting in fatalities and “many others” resulting in serious injuries. The findings come from a National Highway Traffic Safety Administration analysis of 956 crashes in which Tesla Autopilot was thought to have been in use. The …
Tesla’s recent earnings stumble, coupled with its first year-over-year sales drop, casts a shadow over the electric vehicle giant. Despite bold initiatives like the Cybertruck launch and pricing adjustments, revenue plummeted by 9% in Q1, prompting investor alarm. Despite Tesla's efforts, including the launch of the Cybertruck and refreshing the Model 3 with lower prices …
Tesla reports biggest revenue slide since 2012 https://t.co/fhOKgR5VEW — The Coastal Journal (@1CoastalJournal) April 23, 2024 Tesla, once hailed as a pioneer in the electric vehicle market, finds itself navigating turbulent waters with a 9% revenue decline in the first quarter, marking its sharpest drop since 2012. This setback, attributed to ongoing price reductions and …
In the rapidly evolving landscape of electric vehicles, Tesla’s recent stock crash and potential pivot towards self-driving technology have sent shockwaves through the market. With layoffs and restructuring underway, the company faces a pivotal moment that could redefine its trajectory and competitive standing in the industry. Key points: Tesla’s stock plummeted by 43% amid doubts …
A viral video of a Tesla Cybertruck owner explaining a problem with his accelerator pedal has piqued the interest of a federal vehicle safety agency. The incident comes as Tesla has paused deliveries of its Cybertruck without offering much of an explanation. The chain of events began Thursday when Jose Martinez said he was driving his six-day-old …
DETROIT (AP) — Tesla is asking shareholders to restore a $56 billion pay package for CEO Elon Musk that was rejected by a Delaware judge this year, and to shift the company’s corporate home to Texas. The changes, to be voted on by stockholders at a June 13 annual meeting, could be a tougher sell …
For Tesla, the layoffs come following a disappointing Q1 delivery report that showed the company missed widely on consensus estimates and built up supply in excess of 46,000 vehicles. This implies that Tesla is feeling the impact of slowing EV demand, both in the US and globally, after reporting its first year-over-year quarterly decline in …
Tesla shares dropped this morning after the firm announced plans to lay off ‘more than 10 per cent’ of its global workforce as demands for its electric vehicles start to falter in a highly competitive market. CEO Elon Musk sent a company-wide email over the weekend announcing the layoffs, tech publication Electrek reported on Monday. …
Tesla could “go bust” while its stock could fall to $14, Per Lekander, a hedge fund manager who has been shorting Elon Musk’s electric car maker since 2020, told CNBC on Wednesday. His comments come after Tesla reported 386,810 vehicle deliveries in the first quarter of the year, significantly below even the lowest market estimates. …
Tesla published its first-quarter vehicle production and deliveries report on Tuesday showing deliveries of 386,810, a steep drop from the same quarter last year. According to a mean of 11 estimates compiled by FactSet, analysts were expecting deliveries of around 457,000 for the first three months of the year. This was Tesla’s first year-over-year decline in deliveries …
SAN FRANCISCO/LONDON (Reuters) – The ranks of would-be Tesla buyers in the United States are shrinking, according to a survey by market intelligence firm Caliber, which attributed the drop in part to CEO Elon Musk’s polarizing persona. While Tesla continued to post strong sales growth last year, helped by aggressive price cuts, the electric-vehicle maker …
EV maker slashes prices as it tries to avoid bankruptcy. California-based electric vehicle startup Fisker slashed the prices of some of its vehicles as it fights to avoid bankruptcy after a potential deal with another automaker fell through. The manufacturer’s suggested retail price for the 2023 Ocean electric SUV lineup in the U.S., which is …
It‘s official now, Magnificent 7 is history, $TSLA didn’t make it. Who is next to drop out and Mag 6 becomes Mag 5? pic.twitter.com/1SZUDfXqRb — Michael A. Arouet (@MichaelAArouet) March 15, 2024 The once-revered Magnificent 7 is unraveling, with Tesla ($TSLA) becoming the latest casualty. As the tech landscape shifts, speculation mounts on who will …
After years of ascending growth, some of the most powerful US tech corporations have started to slide hard and fast in the world’s second-largest economy amid the new reality of doing business there. Beijing has endorsed uber-nationalism. In turn, sentiment toward Western business has soured. That’s especially so as domestic companies have stepped up as …
Angela Chao, the billionaire sister-in-law of Sen. Mitch McConnell, tragically drowned in a pond at her Texas ranch. It is speculated that she may have accidentally put her Tesla in reverse while attempting a three-point turn. Since then, disturbing details have surfaced, recounting the frantic rescue efforts aimed at saving the 50-year-old CEO of shipping …
The Chinese EV industry may have little choice but to square off in a potential fight to the death, according to the billionaire co-founder of Xpeng. No matter who wins, though, their Western peers stand to lose. As China’s carmakers pursued profitable growth in the West, the country took Japan’s crown as the largest automotive …
by confoundedinterest17 Burn on, Bidenomics! The Biden administration is reportedly considering easing tailpipe emissions regulations, a move that was designed to force Americans from gas and diesel-powered vehicles to electric vehicles, according to The New York Times, citing three people familiar with the plan. This potential policy adjustment is in response to concerns from major automakers and …
Car prices are dropping like a rock in the used vehicle market, with prices down by -23% over the last 18 months, the biggest drop on record according to Cox Automotive. These price declines on cars are especially severe for Tesla, where Elon Musk has dropped the price of the electric vehicles by 25% for …
That’s stealing and trespassing. Hope he called the cops. Because nothing says ‘entitled’ quite like using someone else’s driveway as a personal Tesla charging station. Bravo, Karen!
Tesla is recalling almost 2.2 million vehicles — nearly all of the cars that it has sold in the U.S. — because the font size is too small on its instrument panel for its brake, park and antilock brake system warning lights. That makes the lights hard to read, increase the risk of a crash, …
Tesla Inc will move immediately to hold a shareholder vote to transfer the electric vehicle maker’s state of incorporation to Texas from Delaware, CEO Elon Musk said in a post on X on Thursday. Musk says Tesla shareholders to vote on moving incorporation to Texas https://t.co/CQmbSW0KRc pic.twitter.com/FISkgpeYcN — Reuters (@Reuters) February 1, 2024
In a seemingly orchestrated legal drama, a New York jury orders former President Donald Trump to pay $83.3 million to E. Jean Carroll for alleged defamation. The verdict, including $65 million in punitive damages, $11 million for reputational harm, and an additional $7.3 million, raises questions about the political undertones. Simultaneously, a Delaware judge rules …
Officials say a low-voltage, lithium-ion battery from a Tesla exploded, sending heavy smoke through a North Carolina home. Firefighters say the car’s owners were having trouble with the battery and couldn’t get a replacement, so they removed it and brought it inside to try to charge it. The owners did not follow manufacturers’ instructions, and …
