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Elon Musk Says 10-Fold Increase In Deliveries "Doable," But There's A Catch: "It Is An Immense Amount Of Work"

ZINGER KEY POINTSIn 2023, Tesla sold 1.809 million EVs, up 37.7% year-over-year, ahead of the 1.8M-unit guidance but trailing the 50% long-term growth goal.The company has begun work on a low-cost EV.

Elon Musk Says 10-Fold Increase In Deliveries "Doable," But There's A Catch: "It Is An Immense Amount Of Work"

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Despite the headwinds, the electric-vehicle giant’s CEO <strong>Elon Musk </strong>on Monday raised the specter of the company achieving a 10-fold increase in volume.</p><p style=\"text-align: start;\"><strong>What Happened: </strong>A Tesla influencer shared a video clip of a number of Tesla vehicles in transit in a post on X and suggested that Tesla achieving annual deliveries of 10 million to 20 million is a certainty and the only uncertainty here is regarding the timing of the company hitting the goal.</p><p style=\"text-align: start;\">Responding to the post, Musk said, “It will be a very hard climb to 10X output. Doable, but it is an immense amount of work.”</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d56bcab72ab6c1c71a0de94fe495bc6d\" tg-width=\"747\" tg-height=\"1111\"/></p><p><strong>Why It’s Important: </strong>In 2023, Tesla sold 1.809 million EVs, up 37.7% year-over-year. The annual deliveries, though meeting the company’s tempered 1.8-million-unit goal, trailed its long-term 50% growth target. The underperformance is all the more stark because a slew of price cuts did not improve demand. The multiple downward price adjustments only served to erode Tesla’s margin, which in turn impacted profitability.</p><p style=\"text-align: start;\">Also, the price reductions hurt the startup ecosystem per se, as they were forced to either match the price cuts and sink further into the red, or maintain prices unchanged and see their market share shrink.</p><p style=\"text-align: start;\">Tesla currently sells the all-electric Model Y SUV, which was the best-selling vehicle, globally in 2023, and the mass-market Model 3 sedan as well as the high-end Model S and X EVs. The company also markets the Tesla Semi Class 8 truck and the Cybertruck. Given the slow production ramp-up of the Cybertruck and its pricier nature, the newest vehicle from Tesla’s stable is unlikely to be a big volume driver in the near- to medium-term.</p><p style=\"text-align: start;\">Any hopes of achieving a significant increase in volume hinges on the affordable EV the company is currently working on. In an interview with tear-down expert <strong>Sandy Munro</strong> in early December, Musk said the company is far advanced in the manufacturing of the smaller, low-cost EV, which has been referred to as Model 2 by the media and analysts. The EV will likely be manufactured in Giga Texas and also in the upcoming factory in Mexico.</p><p style=\"text-align: start;\">Musk confirmed on the earnings call in late-January that production could start in the second-half of 2025.</p><p style=\"text-align: start;\">Tesla ended Friday’s session down 0.25% at $199.95, according to Benzinga Pro data.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Elon Musk Says 10-Fold Increase In Deliveries \"Doable,\" But There's A Catch: \"It Is An Immense Amount Of Work\"</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nElon Musk Says 10-Fold Increase In Deliveries \"Doable,\" But There's A Catch: \"It Is An Immense Amount Of Work\"\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2024-02-20 07:20</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><h4 id=\"id_2240669206\" style=\"text-align: start;\">ZINGER KEY POINTS</h4><ul style=\"list-style-type: disc;\"><li><p>In 2023, Tesla sold 1.809 million EVs, up 37.7% year-over-year, ahead of the 1.8M-unit guidance but trailing the 50% long-term growth goal.</p></li><li><p>The company has begun work on a low-cost EV. which could go into production in the second half of 2025.</p></li></ul><p><strong>Tesla, Inc.</strong> is struggling to increase sales amid an inclement economy and intense competitive pressure, and this hasweighed down on the stock. Despite the headwinds, the electric-vehicle giant’s CEO <strong>Elon Musk </strong>on Monday raised the specter of the company achieving a 10-fold increase in volume.</p><p style=\"text-align: start;\"><strong>What Happened: </strong>A Tesla influencer shared a video clip of a number of Tesla vehicles in transit in a post on X and suggested that Tesla achieving annual deliveries of 10 million to 20 million is a certainty and the only uncertainty here is regarding the timing of the company hitting the goal.</p><p style=\"text-align: start;\">Responding to the post, Musk said, “It will be a very hard climb to 10X output. Doable, but it is an immense amount of work.”</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d56bcab72ab6c1c71a0de94fe495bc6d\" tg-width=\"747\" tg-height=\"1111\"/></p><p><strong>Why It’s Important: </strong>In 2023, Tesla sold 1.809 million EVs, up 37.7% year-over-year. The annual deliveries, though meeting the company’s tempered 1.8-million-unit goal, trailed its long-term 50% growth target. The underperformance is all the more stark because a slew of price cuts did not improve demand. The multiple downward price adjustments only served to erode Tesla’s margin, which in turn impacted profitability.</p><p style=\"text-align: start;\">Also, the price reductions hurt the startup ecosystem per se, as they were forced to either match the price cuts and sink further into the red, or maintain prices unchanged and see their market share shrink.</p><p style=\"text-align: start;\">Tesla currently sells the all-electric Model Y SUV, which was the best-selling vehicle, globally in 2023, and the mass-market Model 3 sedan as well as the high-end Model S and X EVs. The company also markets the Tesla Semi Class 8 truck and the Cybertruck. Given the slow production ramp-up of the Cybertruck and its pricier nature, the newest vehicle from Tesla’s stable is unlikely to be a big volume driver in the near- to medium-term.</p><p style=\"text-align: start;\">Any hopes of achieving a significant increase in volume hinges on the affordable EV the company is currently working on. In an interview with tear-down expert <strong>Sandy Munro</strong> in early December, Musk said the company is far advanced in the manufacturing of the smaller, low-cost EV, which has been referred to as Model 2 by the media and analysts. The EV will likely be manufactured in Giga Texas and also in the upcoming factory in Mexico.</p><p style=\"text-align: start;\">Musk confirmed on the earnings call in late-January that production could start in the second-half of 2025.</p><p style=\"text-align: start;\">Tesla ended Friday’s session down 0.25% at $199.95, according to Benzinga Pro data.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","LU2602419157.SGD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"AC\" (SGD) ACC","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","BK4581":"高盛持仓","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","LU2249611893.SGD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (SGD) ACC","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","BK4511":"特斯拉概念","BK4548":"巴美列捷福持仓","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU1861558580.USD":"日兴方舟颠覆性创新基金B","LU0823411888.USD":"法巴消费创新基金 Cap","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","BK4574":"无人驾驶","LU0234572021.USD":"高盛美国核心股票组合Acc","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","BK4592":"伊斯兰概念","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","BK4585":"ETF&股票定投概念","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","BK4534":"瑞士信贷持仓","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","BK4555":"新能源车","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0082616367.USD":"摩根大通美国科技A（dist）","LU1861215975.USD":"贝莱德新一代科技基金 A2","LU0056508442.USD":"贝莱德世界科技基金A2","LU2063271972.USD":"富兰克林创新领域基金","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","BK4551":"寇图资本持仓","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0823414478.USD":"法巴经典能源转换基金","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","BK4527":"明星科技股","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","TSLA":"特斯拉","BK4588":"碎股","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","LU1548497426.USD":"安联环球人工智能AT Acc","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD"},"source_url":"https://news.google.com/rss/articles/CBMingFodHRwczovL3VrLmludmVzdGluZy5jb20vbmV3cy9zdG9jay1tYXJrZXQtbmV3cy9lbG9uLW11c2stc2F5cy0xMGZvbGQtaW5jcmVhc2UtaW4tZGVsaXZlcmllcy1kb2FibGUtYnV0LXRoZXJlcy1hLWNhdGNoLWl0LWlzLWFuLWltbWVuc2UtYW1vdW50LW9mLXdvcmstMzM0MzMzMtIBAA?oc=5","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2412163549","content_text":"ZINGER KEY POINTSIn 2023, Tesla sold 1.809 million EVs, up 37.7% year-over-year, ahead of the 1.8M-unit guidance but trailing the 50% long-term growth goal.The company has begun work on a low-cost EV. which could go into production in the second half of 2025.Tesla, Inc. is struggling to increase sales amid an inclement economy and intense competitive pressure, and this hasweighed down on the stock. Despite the headwinds, the electric-vehicle giant’s CEO Elon Musk on Monday raised the specter of the company achieving a 10-fold increase in volume.What Happened: A Tesla influencer shared a video clip of a number of Tesla vehicles in transit in a post on X and suggested that Tesla achieving annual deliveries of 10 million to 20 million is a certainty and the only uncertainty here is regarding the timing of the company hitting the goal.Responding to the post, Musk said, “It will be a very hard climb to 10X output. Doable, but it is an immense amount of work.”Why It’s Important: In 2023, Tesla sold 1.809 million EVs, up 37.7% year-over-year. The annual deliveries, though meeting the company’s tempered 1.8-million-unit goal, trailed its long-term 50% growth target. The underperformance is all the more stark because a slew of price cuts did not improve demand. The multiple downward price adjustments only served to erode Tesla’s margin, which in turn impacted profitability.Also, the price reductions hurt the startup ecosystem per se, as they were forced to either match the price cuts and sink further into the red, or maintain prices unchanged and see their market share shrink.Tesla currently sells the all-electric Model Y SUV, which was the best-selling vehicle, globally in 2023, and the mass-market Model 3 sedan as well as the high-end Model S and X EVs. The company also markets the Tesla Semi Class 8 truck and the Cybertruck. Given the slow production ramp-up of the Cybertruck and its pricier nature, the newest vehicle from Tesla’s stable is unlikely to be a big volume driver in the near- to medium-term.Any hopes of achieving a significant increase in volume hinges on the affordable EV the company is currently working on. In an interview with tear-down expert Sandy Munro in early December, Musk said the company is far advanced in the manufacturing of the smaller, low-cost EV, which has been referred to as Model 2 by the media and analysts. The EV will likely be manufactured in Giga Texas and also in the upcoming factory in Mexico.Musk confirmed on the earnings call in late-January that production could start in the second-half of 2025.Tesla ended Friday’s session down 0.25% at $199.95, according to Benzinga Pro data.","news_type":1},"isVote":1,"tweetType":1,"viewCount":40,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":false,"length":2,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}