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Volkswagen:Quarterly Results/2023 Q3: Difference between revisions
Volkswagen:Quarterly Results/2023 Q3 (view source)
Revision as of 08:41, 19 October 2023
, 19 October 2023→Competitor earnings expectations and results
(Created page with "== Competitor earnings expectations and results == === Tesla === * Tesla missed revenue and earnings estimate due to price cuts of about 25% (according to Cox Automotive) in...") |
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* Tesla missed revenue and earnings estimate | * Tesla missed revenue and earnings estimate<ref>https://digitalassets.tesla.com/tesla-contents/image/upload/IR/TSLA-Q3-2023-Update-3.pdf | ||
https://www.axios.com/2023/10/18/tesla-earnings-third-quarter-elon-musk | https://www.axios.com/2023/10/18/tesla-earnings-third-quarter-elon-musk | ||
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* In the earnings call, Elon Musk may have suggested that he plans to double down on his price cut moves. "I just can't emphasize again how important cost is -- it's not an optional thing for most people. It is a necessary thing. We have to make our cars more affordable that people can buy it, " he said<ref>https://www.fool.com/earnings/call-transcripts/2023/10/18/tesla-tsla-q3-2023-earnings-call-transcript/#:~:text=This%20year%20itself%20we%20have,the%20growth%20in%20megabyte%20deployments.</ref>. | * In the earnings call, Elon Musk may have suggested that he plans to double down on his price cut moves. "I just can't emphasize again how important cost is -- it's not an optional thing for most people. It is a necessary thing. We have to make our cars more affordable that people can buy it, " he said<ref>https://www.fool.com/earnings/call-transcripts/2023/10/18/tesla-tsla-q3-2023-earnings-call-transcript/#:~:text=This%20year%20itself%20we%20have,the%20growth%20in%20megabyte%20deployments.</ref>. | ||
* Musk also sounded an alarm on high interest rates. "I am worried about the high interest rate environment that we're in," he said. "if the macroeconomic conditions are stormy, even if the best ship is still going to have tough times. The weaker ships will sink." | * Musk also sounded an alarm on high interest rates. "I am worried about the high interest rate environment that we're in," he said. "if the macroeconomic conditions are stormy, even if the best ship is still going to have tough times. The weaker ships will sink." | ||
* Tesla | * Tesla's automotive margin was impacted by price cuts of about 25% (according to Cox Automotive) in the quarter. It was also due to underutilization of new factories and an increase in operating costs associated with the CyberTruck. | ||
* Tesla maintained its annual production target of 1.8 million cars. | * Tesla maintained its annual production target of 1.8 million cars. | ||