πππTesla - The Leader In Auto Industryπππ
πππ$Tesla Motors(TSLA)$
has jumped 11% today driven by an optimistic outlook given by Elon Musk at its latest Q4 2022 earnings report. Elon Musk also declared that Tesla is now the World's Auto Industry's Leader in profitability and manufacturing efficiency, a crown that Toyota has held for 30 years.
Tesla has already earned roughly 7 times as much per vehicle as Toyota. Its profit margins are almost double the average for the rest of the auto industry.
Elon Musk also mentioned that Tesla is now working on a new vehicle that could sell profitably for under USD 30,000 to compete with mass markets models from Toyota, Ford Motor and General Motors.
Elon Musk's strategy of cutting Tesla's EV prices seem to have paid off. It sparked a massive increase of orders. He said that Tesla is currently seeing orders of almost twice the rate of production.
Tesla has just reported an automotive revenue of USD 21.3 billion in the 4th quarter, representing a 33% growth year over year. Its earnings was USD 1.19 per share versus USD 1.13 per share expected. Its overall revenue was USD 24. 32 billion versus USD 24.16 billion expected.
Tesla's guidance for production was just 1.8 million in 2023. However if it is a smooth year, Elon Musk said that Tesla has the potential to do 2 million cars this year.
Tesla also said that about 400,000 customers in North America have the ability to test out its experimental "FSD Beta" driver assistance system. Cybertruck pickup is also on track to start production in Texas this year but will not reach volume production until next year.
Wall Street Analysts are also bullish on Tesla with a median target price of USD 196, representing a 22% upside potential.
$Tesla Motors(TSLA)$ share price has soared 55% since January 6 low of USD 101.80. It looks like 2023 is going to be a great year for Tesla and Elon Musk.
@MillionaireTiger @TigerStars @CaptainTiger @Tiger_chat
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- Lionel8383Β·2023-01-28TOPWhat is interesting is Tesla is starting to reduce their average selling price to maintain market share. This likely means margins will go down. If you look back at Apple, they hardly reduce prices, except maybe at entry level models like iPhone SE etc.1Report
- YvetteGuntherΒ·2023-01-27TOPI am very disappointed that Tesla didnβt close at $170. But, there is always next time.1Report
- XantheJulianaΒ·2023-01-27TOPJPMorgan rates Tesla at "Underweight" with a $120 price target.1Report
- YeddaJohnsonΒ·2023-01-27TOPChina has a high car ownership rate, mostly because of the status symbols that comes with vehicles. They love US cars,especially Tesla.1Report
- ε°θΎgoProΒ·2023-01-27TOPcareful for leaking [Grin]1Report
- YorkTurnerΒ·2023-01-27Tesla has potential to become the largest company in the world...1Report
- Svengers19Β·2023-01-27Thanks for sharing1Report
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