Tesla's UGLY Q1 2024 Deliveries
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- Опубликовано: 1 апр 2024
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I worked at Tesla starting in July of 2017 as an Operations Analyst out of the Bethlehem, PA distribution center facility and left as a Program Manager based out of Austin, TX as of September 2021. I spent most of my time in the distribution and supply chain organizations.
Before Tesla, I was a Director of Business Intelligence and Pricing at the largest Pet Food & Supply distributor in the US, Phillips Pet Food & Supplies based out of Easton, PA. My wife and I also owned a small business in Bethlehem, PA between 2016 and 2019.
I have been a shareholder of Tesla since 2012 and currently own Tesla stock. Nothing I say constitutes as investment or financial advice.
My thoughts are my own and are not representative of everyone who currently works, or has worked at Tesla.
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Got a model 3 RWD refresh ultra red with white interior last week-end. Incredible car and still happy to be an investor!
My favorite combo.
I picked up another 100 shares at 164.24 today. I think between now and earnings we will be at the lows.
Lol I remember people writing comments like this when the stock was at $237
congrats man :)
stupid lol...i'm buying 250 shares at $150
I guess total earnings will not be that bad because of Energy storage. I will keep on buying for the simple reason that FSD is already better than most drivers.
We are all waiting for Model Y Juniper...
I would bet that if Tesla cut the price of FSD to about $4k or $75 per month, the take rate would be 10x what it is today. $12000 is a tough pill to swallow when you are buying a $38000 model 3. I sure as heck wouldn't pay that kind of money for FSD, especially since it is still in beta. Don't get me wrong, I am not a hater and I am super impressed with what they have accomplished but I simply can't pay an additional $200 per month on a car that costs me $500 per month. an additional $50 - $75 a month I believe is more doable for folks looking to save money.
Agree completely. Also, even if you _start_ at, $65 per month, there is nothing to prevent you from slowly raising the price in subsequent years. Get people used to the idea of their car driving them everywhere, of being able to text, read or nap on the way to their destination. Get them used to finishing up that report they should have written the day before on their way to the meeting. Get them used to never having to drive their kid to swim practice again.
_Then_ start raising the price.
Any drug dealer will tell you that's how it's done!
Yes, imagine trusting Musk with your child's life, or being that sad that you want to outsource parenting responsibility.
Oh,and even the parental basics like talking to your child in person.
I’m not spending 12k on software that’s been curbing people’s wheels with the latest version. It’s a hard pass
Perhaps the high price is to limit the users until the software proves itself. I hear v12.3 is leaps and bounds better than V11. Proofing out software, especially software that controls a 2-3 ton vehicle takes time. I would expect that eventually the price of the software will be built into the vehicle's price.
@@69memnon69 I'd be more worried about the fatalities Telsa keeps buying themselves out of personally
We picked up an M3 the other day. We took the 10-15 minute FSD demo. My wife sat in the passenger seat. This was her first experience of FSD. She was ready to get it, till I told her the price. She still wanted it, and still wants it. But the price is a delay at this time for us. ~18K CAD after just paying for a car, is a bit hard to swallow at this time. Had it been like 10K CDN, I think we may have signed up on the spot.
they also do 199$ a month subscription for US but idk about Canada
I would suggest getting it, then subscribing to FSD at a month-by-month basis! The price has now been lowered to $100 USD
Got the FSD trial yesterday. Spent the day marveling as my 3 drove me around town with zero interventions. Don’t care about deliveries, don’t really care about take rate, all I care about as an investor is getting the affordable car in production and a giant fleet of robotaxis on the road. In 2 years FSD will be unbeatable and the affordable car should be in production. Tesla is going to clean up.
Waiting patiently for 3 years now. Musk over promised FSD and needs to make it right to his customer base that paid for the promise of level 5. We all want to be free of Musk’s eternal beta.
I still think the number of buyers who are waiting for the refreshed MY is an underrated topic. I have talked to several people now who have said when the refreshed MY comes out that is when they will make a purchase. I personally am waiting for the refreshed MY Ludacris. I did notice about eight people in my neighborhood bought or leased the dual motor MY the last week of March because they said the price was unbeatable!
Yes, I have a new model 3 and it is so good that I am really excited to replace my wife's model Y with new, refreshed model Y
I would upgrade my 2021 Model 3 SR+ to a refresh Y at the drop of a hat.
How many % lost sales because no stalks? Guess new Y will be w/o too. I know it is a show stopper for some percentile of buyers.
For sure
I think so too because im currently waiting because of the refreshed model Y myself, even if it comes next year
Tesla here’s my advice: on the last day of the fsd trial you throw up an option to buy for 6k, pay-per-use, or monthly 60 bucks. Don’t just end it, give people an offer they can’t refuse. Almost no one can afford 12k, and 200/month is too high for a beta.
This is a really good idea. Make it like $40 a month. Who cares, it’s like a gym membership then. Nobody uses it. Then, when it gets better, people get dependent on it, slowly jack up the price!! I’d do it if it was like $40. But I always take over when I’m serious about getting somewhere in its current state. And they need to throw the early adopters a bone, they are their loyalest customers. You don’t want them bitter. Find a way to make the $15k / $12k early adopters situation a win-win. They supported TSLA when they were at the abyss.
If level 5 is ever achieved, expect FSD to cost more than the car.
@@jhelotes5627 meanwhile I’m willing to pay $40-$60 a month (still revenue) for basically training a student driver.
Used Teslas are becoming more affordable, viable options, and there's a new 4k used EV tax credit, so people are going to divert and go that route versus buying a brand new one, especially with current economic conditions.
Yep, last year is the first year when sales of used Tesla's directly competed against new Teslas.
For the U.S. market, this could act as a nice bridge between the Cyber S3XY lineup and the next generation Tesla with the significantly lower price.
You may have to factor in the cost of battery replacement on used vehicles. So the price really remains the only real issue and that is getting solved rapidly.
@@ericdelevinquiere9902 - no real need to worry about that until 200K miles and sometimes more.
not everybody wants a used car. Nor do people need to buy a car NOW.
I'm old enough to have spent a LOT of time tracking AAPL during times like this back in the 90s & 00s. Ups and downs like this happen regularly. Even before Elon proved Tesla wasn't too concerned with quarter by quarter results (what? No marketing department? Obviously, Tesla doesn't care), Apple, thru Tim, was telling investors out loud that if they were worried quarter by quarter that they better drop their AAPL holdings. I just bought more at $164 today. Too much good stuff happening and not enough headwinds to have me worried (even the bad press Elon attracts).
This
I remember watching Forest Gump in 1994 when he made all his money from Apple shares and was on the front page of Forbes. Remember thinking dam, I missed that one. It's like 100x since then 😂😂😂
@@sdpryce"Jenny!"
Tesla with FSD is like Nvidia with cuda... Give it a sec...
I picked my new Model 3 on March 28th, and there was no word or demo from the delivery agent. While I would have liked to have one, I still won't complain. I LOVE my first Tesla (and EV) purchase!!! It was worth the eight-year wait.
you should really really try FSD, it's game changing.
My friend just bought a Model Y, yesterday. I got to take it for a spin and figured out how to use FSD in about 5 minutes...it's frickin amazing-to the point where if they come out with the "model 2", I might finally make the jump from ICE. It was my first time driving a Tesla, ever. I loved it. It was so comfortable, the seats are like sitting on nice pillows. I got used to one foot driving and then turned on FSD and it blew my mind. A few hiccups, but figuring out when to take over and then the ease of turning it back on after the human correction made it a joy to drive.
here's the thing man, it sucked 2 years ago, it was decent last year. now it's downright good. I'm excited to see where it is in another 2 or 3 years.
if there isn't much demand there is more time per each client and also the urge to upsell, right?
plus, the fsd focus is set to try to shift the attention from the bad deliveries number
Bought 2 more shares
Good for you mate.
They weren’t ugly;Lynne, they were exactly what Tesla warned about considering the shut downs in Berlin and the rework at Fremont.
Yeah, 3 weeks downtime because of some terrorists sure ist quite a pain
So because you think this was warned about that makes the delivery number no longer ugly? Where’s the logic in that?
That is why production is down but doesent explain why there were 46k less deliveries than production. I believe it is a shipping issue between China and Europe
LOL. They delivered far fewer cars than they manufactured. Having Berlin and Fremont at full throttle would have made the problem worse!
@@paulsandgren8625 because the cars are stuck on ships for way longer thanks to the houthi bullshit if you already forgot about that war
Just tried FSD for the first time... it's incredible. Just had to adjust my presets to suit my style of driving after it made a lane change and then immediately back into the previous lane when another vehicle slowed down. Did minimal lanes changes setting and it was good after that.
Agree; buy then wait and buy some more; not sure when or where the bottom is at
Tesla 8% down on deliveries. GM down 16%. BYD down 43%.
In this market, this economy, Tesla has performed well.
Bought more shares today. 😅
GM is valued at 5x forward earnings though, Tesla is 50x
@@neaorin GM fsd?
@@neaorin tesla is currently at 39x TTM. Which is not bad for a fast growing company
@@thoughtpolease7183 it won't be after Q1. All that vertical integration works against you in a down quarter.
You hit the nail on the head. This is exactly what I feel TSLA is doing and what the market is completing missing.
The Eurozone has had the fastest interest rate hiking cycle in its history. America also has been dealing with record high inflation and 40 year high interest rates. ICE sales are also down and not only from EV's chipping away at their sales. Cars and homes are the first to be hit when the economy sours.
Funny, I don’t see 50,000 cars sitting in the showrooms, parking lots, in inventory? If sales are down, where are the piles of unsold cars? Maybe it’s not that there is no demand, but rather that they couldn’t make or deliver? Maybe we should be looking at the number of batteries available rather than using actual sales rather than wishing for Tesla to be like a traditional auto company?
The production has been throttled. Tesla said on their last earnings call that there is no battery constraint.
It’s an issue of demand. Even with throttled production Tesla reported nearly 50k cars in inventory.
No one is wishing for Tesla to be a traditional automaker. Their business looks more like one with each passing quarter. People talking on the internet don’t change that reality.
I've been to two service locations in the past 4 months one in Nashville and one in KC and both had hundreds of unsold Y's on the lots.
I went car shopping last weekend. The Toyota dealership had many customers. The BUICK / Cadillac / GMC dealership next door, had very few customers.
Love my 2020 Y with FSD. Saved me from two freeway accidents where the car saw the danger averted it before I could have been able to respond. Safety is Teslas feature #1. 9 times less likely to get in accident with autopilot engaged. Also very crashworthy and can save your life if an accident is not averted. Add FSD 12.3 which has suddenly become amazing in the last few weeks. Oh my goodness - what a car - TESLA.
I can’t afford 12k for what I use the car for but if it was 5k hell yeah I would
what if it was 199 a month?
@codyshields3797 still too much, especially for the people buying regular M3 and MY. For those waiting on the lower priced M2 it will be even more so. I agree with OP, make this a $5k or $99/month option and most people would get it
Pushing late Q1 would generally be taking sales from Q2. Better to get Q2 numbers higher than strive for Q1 goals that are way off.
Good video! The new Tesla Daily?🤔Anyway, could be a good stock buying opportunity
For me, the real issue is how many of those cars produced but not delivered were on their way to delivery or in inventory.
Anyone shocked with what Elon tweets and how much he rather pay attention to twitter?
Not really. He's been disengaged with Tesla for a while now. Participating in political culture wars is his focus now.
It's not Twitter. It's X.
No
If margins are really bad than the following month or two will be probably the trough of this down turn I’m guessing, if Q1 financials are stronger than expected than I imagine this week will be the trough.
I’m starting to take out margin again as of today and will be adding to it over the course of the next month or two. 2024 might be the blessing of the century for those emotionally capable and patient.
Sorry to hear about you being on margin on Tesla at this price.
@@singed8853 im not, i said if it drops lower im going to take out margin, as well as buy more obviously but thats the whole point of margin, its like a stock credit card with low rates if youre smart
High interest rate plus lack of advertising. I drive my Model S for Uber. Most people have no idea about Tesla. They ask: if it is hybrid, it is made in China, they cost only $50k, they make Semi, you charge at home, you can go for vacation with it. So EDUCATION is required to bust sale! I do what I can but I guess it is not enough :)
I bought my first shares of Tesla today!
That’s unfortunate.
@@tatata1543 we will see in June 2026
06:00 Why are you framing this as FSD pitching being the contributing factor to slower sales? Why couldn't it be that they knew/saw the sales were going to be low, so chose deliberately to redirect the focus and capacity of their salesforce more towards FSD.
You might be right!
I just bought 100 more shares of tesly
Sorry to hear that.
You still have to wait a couple of months for the new model 3 in the US. And they are not taking new orders for the model Y, only selling from inventory. Also in last year's 4th quarter Tesla pretty much said that 2024 was going to be a lost year. Also, I just got FSD version 12 and it is really really close, my main complaint, it may be a bit too cautious, and of course that makes sense. I believe FSD is a really useful tool to have with version 12, but I think lowering to $99 a month would get lots more people to sign up. $199 is a little too much in my opinion.
The last thing I want to add, what irks me the most about Elon Musk and Tesla is that they say FSD is very valuable and want to charge you $12k to get it, but when you want to trade your FSD car in, Tesla gives you nothing for it.🤨
For me to use FSD with Uber riders in the car and then not knowing I'm using FSD, it needs two more things. 1) stop stamming on the breaks for yellow lights, 2) stop taking off like a bat-out-of-hell when accelerating, especially on right turns.
Add in better lane logic. I have to fight it at specific spots every time I drive through them to maintain the lane it's in, or it can't seem to pick a lane.
I love my Tesla, but am pissed at Musk for over-promising Level 5 FSD. It cost me $10 grand in 2021 and has only moderately improved. The worst thing Tesla did to its FSD subscribers was forcing us to participate in a virtually impossible-to -pass driving app that rated and monitored your driving. It was bullshit and unreasonable. Musk should be offering a permanent option to transfer FSD, not just when he needs more sales. If I could get a FSD refund, I would.
@@jhelotes5627You've helped the man child buy twitter, you did a good deed!
@@jhelotes5627 Are you a subscriber or an owner?
@@BenefitOfTheDoubtInquiry I purchased FSD and paid in full. 3 years later, V12 downloads and new FSD issues are occurring. Still waiting and hoping before my car”s hardware becomes outdated.
Long term things will be just fine.
IMO ATM many potential customers are awaiting new battery chemistries,
new models, and/or upgrades to existing models. That being the case the current market conditions and sales figures are not a sign of problems. To the contrary they suggest a vibrant future.
You also have Supercharge Network opening up. Ford and Rivian now but others to be onboarded going forwards. This will add on add high margin revenues that are not that correlated to rates and the economy.
This also goes for the Power Pack manufacturing and ramping.
You have Semi ramping as well, which has been independently proven to be the best BEV Class 8 on Earth.
I think q1 and q2 will be lows for Tesla for the next 5-10 yrs. This is assuming inflation and rates have topped out.
I did not think their delivery numbers were bad given the macro situation and interest rates. Everybody is down. This quarter was terrible for anyone who Buys or makes items to sell. I’m in the alcohol industry and we got killed.
tsla will prevail!
BYD mostly sells the Seagull a 30kWh LFP battery tiny EV.
We have to consider the Elon factor. The percentage of people willing to consider a Tesla for their next car dropped from 70% two years ago to 31%.
How does giving a demo drive of FSD when you pick up your car slow the number of sales? Those are cars are already sold.🤔
Yea, I don’t get that either . Seems like just a lame excuse to me.
I bought one share today just in case we have a miracle turn around. I do like my free month of FSD. Very Cool!
I wish I had more cash to buy the dip, this is clearly the calm before the storm. Elon knows operation vacation is about to commence, this is the best buying opportunity we’re ever gonna get before it gets crazy
Every time there is a dip, people say the same thing, and yet every dip is lower than the last.
2:24 Chinese New Year wasn’t mentioned. Very few cars get sold around that time, so at least a small Q1 drop is guaranteed. BYD did have a strong March (stronger than Tesla), and they’re still forecasting around 20 % growth for this year.
Well said
in Switzerland it never recognizes red lights
I feel for you Farzad: its a tough day. I just hope the stock doesn't fall a further 15% or more over the rest of the week, but fear it may. Its a real test of the confidence in FSD, because nothing else can hold up the price at present.
This was a good and balanced commentary. Thank You.
If they maintain the same numbers for 2024, that will be over 1,500,000 vehicles. Not bad.
What are the sales figures for Legacy Auto?
I know yesterday GM reported an increase of like 7%, but that was overall sales, not EVs.
well, the Dealers are Overflowing with cars they can't shift!
why care? no one own legacy auto stock. but tesla stock holder getting the pain.
Why is everyone so focus on 'deliveries' - they do have excess inventory! looks to me that demand is a bigger issue. you can only lower prices to boost sales - but they did just the opposite. Looks like it's going to be another 20% down from here - better buy some puts.
Buy the dip
Lol people were saying the dip was $237
People are also saying that EVs are dead and gas is making a comeback. I encourage you to buy stock in Toyota and GM
@@javadabaron81dorks said that. Not us
@@apple1231230bullshit 😂
@@apple1231230 Toyota hybrids are flying off the lots right now. That might be a good idea.
Based on current events and forward looking guidance, I can't image a better buying opportunity. This is a perfect wave.
How much lower do you predict price could go ?
What’s your best guess
BYD is down on the Q to Q comparison, its still up 13% YoY. Tesla is one of the few companies that is down YoY and is the only one down by a huge margin like 20%
Between China’s weak economy and the loss of tax breaks for the Model 3, the ugly delivery numbers are not a surprise.
What if they pushing the software to boost margin cuz as u said the cyber truck ramp up will push it down so what if this was a numbers push
Any word if there is going to be a different price structure or reduction in price for FSD? I am one of thousands of customers who would love to own it but its wayyyyy too expensive.
You don't have to buy the entire full self-driving package for the 10 to 12,000. You could just subscribe to it for $200 per month.
I do think that price is too much but it beats having to come up with 12,000 in one shot.
Increased mine to 3505 today, I am young enough to wait it out
9:32 I appreciate trying to find a silver lining, but I don’t think we’re anywhere close to not caring about volume of deliveries yet. They can attribute the YoY decline to any number of reasons, but they still underperformed.
I still believe the products are great and that interest rates coming down will help, but we’ll need that next-gen platform if we’re still aiming for 20 million by 2030.
$12,000 for FSD is an automatic NO regardless of how good.
Demand met. No need to further increase production.
Could you help clarify some points regarding Tesla's Mega Battery Pack division? Numerous videos on Tesla stock suggested that this division would significantly enhance the company's bottom line, potentially reducing its reliance on the automotive sector by adding substantial value. However, it seems there's been a lack of recent commentary on this aspect of their business. Has progress slowed down in this division? Is its contribution not significant enough to impact the stock's valuation, leaving Tesla predominantly reliant on car sales for now? Thanks for any insights you can provide.
I bought a lot of tesla around 163$, traded off some qqq. very impressed with the storage numbers. I also own a Y performance with FSD v12.3.3 so I understand a little about what I'm investing in.
I think the one month FSD test drive will boost the training data now when there is no compute bottle neck.
When will be the Investor day?
Yo F Bomb, sick video Bra! Buy the Dip.
Glad everyone see when there RUclipsr pump up the stock price. I knew it and I am still waiting for better price for Tesla next much more better price
I downloaded V12.3.10 this afternoon. It seems to go too slow on city streets. I hope it’s better on the interstate. Other than that it’s pretty awesome
other systems are NOT FSD , cannot Drive Surface streets , cannot use on/off ramps, do not AUTO lane change & speed up to avoid SLOW traffic.
One thing is i really find annoying is people saying "yeah we missed deliveries but look at fsd". So, call a kettle black, we missed, that's bad
With lower cars in Q1, the Energy+Services could increase to 15-20% of the overall revenue with better contribution to profitability!! Look at the bright side: Earnings call disappointment is already priced in :-)
It seems to me, knowing Q1 would be a low sales quarter, it was a good time (given the performance of V12) to release it & offer a Free trial. The FSD Test drives likely wouldn't effect Sales as a) We order on line (b Sales people weren't as busy!
I'm waiting for Notice about the FSD Trial. I picked up our M3RWD a week ago today (Tuesday).
It definitely seems like a ploy to give shareholders a reason to hang on. As demand decreases and Tesla fails to hit the growth targets required to justify the share prices, hyping up FSD is a smart way to retain investor confidence.
I don't really see how demoing FSD reduced sales of the vehicles. Unless someone goes for their delivery and it takes longer to get to them, so they cancel their purchase.
I think FSD subscription should be $99. My guess, they quadruple their subs at that price which effectively doubles their profits. Also, with more people driving their friends around in FSD, those frineds are going to want to buy Teslas for that feature.
Totally agree, make it $5k or $99/month and almost everyone buying a Tesla in NA would get it, after the demo and free trial
@@neaorin I wouldn't even have the purchase option. Just make it a subscription. Keep that goose laying golden eggs for years to come.
Don't blame fsd training at dealerships costing sales. I received a new car at the end of March and no one offered me a test ride and I didn't see anyone else picking one up being offered a fsd test drive.
Bruh, that's still a shit load of deliveries. Not much bad news if you ask me. Think longer term
Demo of FSD would have no affect on vehicle sales as the "dealers" do not do sales, just deliveries and test drives.
Will not have any direct impact on vehicle sales.
But may have an impact on software service sales (FSD).
Even at low take rate it could soon be significant as there is near zero additional cost, near pure profit margin.
I agree, I think the auto revenues will be inferior to AI and Energy revenues in the MEDIUM term. 2-3 years.
People held back until the new Model 3 Highland was available so it is not a surprise that this quarter was down a bit. We will no more after Q2 to see if Q1 was an anomaly.
@7:50 Note that all cybertrucks sold are founders series with an insane price tag of more than $100K, so margins on these trucks might not be so bad as you think.
dip is here to buy
How can deliveries be ugly? Deliveries are DOWN due to the fire at giga Berlin, the Israeli war etc delaying parts and deliveries to Europe- simple!
FSD is a non-thing in at least half of Tesla's market. (China, Europe, other Asia, S. America) Similar for the power business. (except Australia). Most of their market is still cars, and losing focus might have unintended consequences.
only because of REGULATIONS.
FSD beta is Testing in CHYNA.
however Tesla sells MORE EAP+ in EU & China .
EAP+ has FSD functions w/ Advanced Autopilot .
Buy buy buy! 🎉 love the opportunity on this dip! ❤❤❤
If the 50,000 units produced are on their way to buyers, then the quarter's numbers are okay -- if not (supply exceeding demand), then significant issue(s) are present. Because Tesla has been raising prices, the former is most likely. I hope.
Model 2 has to come as soon as possible…..show the model as soon as possible
Good news: there is still opportunity to sell at tripple-digit stock price.
Shouldn’t even move the stock down if you ask me. Tesla still sold more cars than any other car company.
No they didnt.
Tesla sold more cars than …rivian. Much less than Toyota. Not even as many as BYD - which sold over 600k vehicles this quarter.
I don't agree about the cyber truck, if they've been pushing the beast model there is surely a lot of margin in that car. Also, you didn't discuss the impact of two major shutdowns in Giga Berlin for the period... 4 weeks at least 5k per week is a lot of the difference between this year and last.
Tesla needs to start offering a long range model that is just RWD. This would give customers the option of a cheaper long range model than the current AWD version. This would spur sales and overcome the impression that Tesla is now a declining company.
FSD is still a future thing and is unlikely to lift sales in the short term. In the long term FSD will have a big impact on the automotive industry, particularly as services like Uber have achieved significant market penetration and are ripe for the FSD product.
NOPE , not needed.
You didn't mention inventory, dates of inventory, nor Berlin shutdown nor Chinese work week reduction from 6 to 5 days. Why? The first two indi ate how much of a drop in salshave actually occurred and the latr indicate the changes in production.
There's also lunar new year
Demand so weak that there's no point of pushing delivery. on the other hand there are lots of time for delivery so use the time to push FSD. Wise tactic utilizing the extra time resource have due to bad demand.
We can all debate as to the reason why deliveries are lower. I just wish Elon would stop his divisive, political, social, and inflammatory posts on X. I know of a number of people that will not buy a Tesla because of Elon. I am just happy that the energy sector and Optimus is really not retail focused, hence is impacted less by the big guys' smack on X.
I have never really believed that they would be primarily a car company. Energy market, AI, and maybe Optimus are poised to be larger markets and energy has renewable income baked in. Or at least this is what I think. YMMV
Thankfully they do not just sell cars.
What else do they sell and where can I buy it?
Does anyone have any theory's on why their deliveries were so much lower than other quarters? I understand 10-15 k unit difference between build versus sales but this is 46500 less than production. where are all these vehicles?
People are sick of Elon. It's impacting the brand more than most Tesla fans want to admit.
In Berlin we had basically 10 days where the factory was closed, that immediately impacts both production and deliveries necessarily. Giga Chyna was closed for the new year. That also affects both deliveries and production. Though I'll exclude it because it is something that happens every year in this quarter. However, you know what doesn't happen but did happen this year. The houthis preventing cargo ships from going through the Red Sea and instead forcing them to go all the way around Africa. Do you know how much time that adds to the delivery of a produced vehicle according to Gemini from 2 weeks to months?. And as far as I understand it, those ships are still being routed around Africa which means that's a fixed temporal penalty that needs to be worked around by changes to logistics at the factory and changes to logistics at the shipping port and changes to logistics at the receiving port.
These numbers are way way better than many people are reading them to be and I think the market knows this which is why the stock price started with a 5 to 6% pullback and basically got stuck right there. It never went lower than 165. The intrinsic fundamental value of this company is just too strong.
Thanks David. That makes sense. most of the delivery shortcoming is from shipping from China to Europe. @@DavidSaintloth
Maybe they are going to recognize some/ all deferred FSD revenue..
We got v12 yesterday and it did not earn my wife’s approval, not as smooth as I had hoped😔
5:53 In response your point, conducting FSD Demo Drives with customers during their delivery process honestly did not cause a delay in the process whatsoever. Most Demo Drive routes last 5 - 10 minutes, and Tesla pulled experienced advisors from other departments to support. All this to say, from my firsthand experience, I don't believe this was a contributing factor to Tesla having a low Q1 delivery.
And as a follow up, just because Tesla prioritized FSD towards the end of the quarter doesn't necessarily mean that other areas of focus suffered as a result.