Submitted 2 days ago by cyrano@lemmy.dbzer0.com to technology@lemmy.world
https://www.ft.com/content/0ebcec51-2a5a-4820-99e8-1e500370fd68
cross-posted from: lemmy.dbzer0.com/post/41311225
The US group, led by Elon Musk, delivered 336,681 cars in the first quarter, far fewer than the 390,000 forecast by analysts and the 387,000 it delivered in the same period last year.
That’s a 13% decline in sales. They delivered 3740 cars per day (assuming 90 days in quarter), instead of the 4300/day they delivered last year or the 4333/day they forecast.
I know all capitalists see lines going down as bad, but that is still a ton of cars and profit. Oof.
Yeah but the important part in the article is this:
The figure lagged behind that of China’s BYD, which has regained its crown as the world’s best-selling electric-vehicle maker after this week reporting sales of 416,388 in the same period.
Meaning Tesla is not a leader anymore
But Tesla stock is 75% hype so declines in sales like this may hurt stock price disproportionately because of uncertainty.
Brand value got hurt so bad by Musk the president did a fucking sales pitch.
Here in Sweden, only 3 out of ~24,000 newly registered vehicles in March were Teslas.
That’s honestly still 3 too many, but oh well.
That’s cars delivered. How many were sold during that time?
Damn that’s not nearly as much as I thought it will be. How’re those spontaneous combustion numbers?
My thought exactly. OTOH, I feel like the anti-Musk ball only really got rolling in March, and this report can’t possibly cover March - it’s got to be Dec24-Feb25, so probably just a hint of things to come.
Hopefully this will cause the board to finally act and get Elon to step down as CEO.
The only thing keeping TSLA’s stock price so high is the perception that it’s a tech company. They’d have to replace Elon with another tech CEO that can spew bullshit about tech advances being right around the corner. That probably will not save it as a car company.
I’d rather see the company fail before Elon and other majority share holders can cash out.
Democracy and the power of people don’t seem to do much to oligarchs
But money and wealth and the ability to win or lose great fortune is the only thing that brings them down.
Even if he does he owns so much stock people won’t want to buy Teslas.
until it’s zero that’s still too many. everyone who buys one of these things should be made to regret doing so
I bet Musk did Nazi that coming in January
i expect second quarter drop to be even larger, earnings report in July may be the eye opener some investors need
2022 was only a pandemic that at the time many thought might decimate the population and caused a near global house isolation response, this now is far worse.
Exactly. The only excuse now is Musk himself.
Is there a “go woke, go broke” but for nazis?
😊
To quote GreyStillPlays.
ROOKIE NUMBERS.
ceenote@lemmy.world 2 days ago
Let’s not be satisfied until they suffer their worst quarter ever.
dojan@lemmy.world 1 day ago
I don’t think we should be satisfied until they go bankrupt. When they do, their cars and their charger network will likely cease to function properly. Perhaps that could force some legislation against bullshit online-only cloud service practices for products like these.
Ulrich@feddit.org 1 day ago
I don’t want them to go bankrupt, I just want Elon out.
spankmonkey@lemmy.world 1 day ago
We shouldn’t be satisfied until high level execs and Musk, all of whom profit from Tesla’s sales, are jailed for fraud related to the scam sales in Canada.
Someonelol@lemmy.dbzer0.com 1 day ago
The closest thing we’ll see for that kind of legislation is when BYD inevitably makes it to the US. Even then they might word it to say all data traffic from cars would have to go to US servers. These piece of shit politicians work for the data harvesting ghouls, after all.
cdf12345@lemm.ee 1 day ago
Worst quarter since 2022……so far!