[HN Gopher] Tesla earned $1.6B in the third quarter as car sales...
___________________________________________________________________
Tesla earned $1.6B in the third quarter as car sales surged
Author : simonebrunozzi
Score : 29 points
Date : 2021-10-20 21:26 UTC (1 hours ago)
(HTM) web link (www.nytimes.com)
(TXT) w3m dump (www.nytimes.com)
| tootie wrote:
| It's unbelievable that the established auto makers are just
| falling further and further behind on EVs while Tesla is opening
| the market wider and wider.
| dlp211 wrote:
| The Ford F-150 Lightning is about to drop. VW group is making
| massive investments in EVs. BMWs vision is to be the premier
| green automaker by 2030. Don't act like these companies are
| still sitting on their hands.
|
| In < 5 years from now, the best selling EV will be the F-150
| Lightning.
| dirtypersian wrote:
| I don't know about that. Sure, the F-150 is a nice option but
| what is Ford doing in terms of self driving. Tesla is
| tackling multiple issues at the same time, most car companies
| playing catch up usually just care about the EV part but not
| the self driving aspect. In 5 years Tesla will still be the
| dominant EV imo because feature wise their cars will be so
| far ahead of everyone else.
| polishdude20 wrote:
| I think the main goal of EV's is to be more environmentally
| friendly. Self driving doesn't contribute to that goal and
| i don't think it's a thing that will make or break these
| other manufacturer's efforts.
| anonporridge wrote:
| You also can't discount the Supercharger network, which
| gives Tesla a huge advantage over every other auto
| manufacturer.
| poorjohnmacafee wrote:
| Even so it seems the administration pretends they don't exist
| [1] or even wants to take their marketshare [2]. The
| established automakers have a cozier relationship with the
| established politicians I guess.
|
| [1] https://www.bloomberg.com/news/articles/2021-08-05/biden-
| snu...
|
| [2] https://www.cnbc.com/2021/09/14/tesla-toyota-and-honda-
| criti...
| garyfirestorm wrote:
| https://www.freep.com/story/money/cars/chrysler/2021/10/19/s...
| mym1990 wrote:
| Is it though? Tesla had a vision for EVs from the very
| beginning and most of the industry really didn't believe Tesla
| would see the light at the end of the tunnel, so they put off
| becoming competitors. Now Tesla is hitting an incredible stride
| and the rest of the car manufacturers are scrambling to put
| something together.
| anonporridge wrote:
| But, Biden praised GM and Ford for leading the EV revolution!
| /s
| [deleted]
| nullc wrote:
| So does that $1.6B include the roughly $1bn their 42,000 Bitcoin
| has gone up in value this quarter?
| verdverm wrote:
| They actually accounted for a $51M impairment on Bitcoin
| DarmokJalad1701 wrote:
| No. They can only count it if they sell it. They actually had
| to take a $50M "impairment" hit on their bottom-line since the
| price of BTC dropped below their cost basis again this quarter.
| TameAntelope wrote:
| Taking an "impairment hit" is a great way to lower
| performance a smidge so as to not let Wall St. run away with
| its Q4 projections.
|
| I'm full-blown conspiratorial about how Tesla uses BTC to
| manipulate its financial reports. I don't think what they're
| doing is illegal or even all that innovative, other than to
| use BTC and not some other thing to do this.
| mehrdada wrote:
| Have you looked at Tesla delivery queue wait times
| recently? Not need to spin up controversies when the market
| demand is clear and explains the tailwind. They have been
| leveraging the demand to increase ASP both by increasing
| prices and shifting to a more profitable mix (Need the car
| sooner? Get the higher margin model!)
| TameAntelope wrote:
| Right, which is why, if you knew about how that sausage
| was made (as an officer of Tesla), you'd want a way to
| control investor expectations, because what you just said
| sounds _really good_ , and if something went wrong, or if
| it weren't quite as awesome as you just described, I'd be
| _really mad_ if I were an investor and Tesla missed those
| lofty projections.
| mehrdada wrote:
| They report segmented results for each business, along
| with gross margin of each business, so I am not sure how
| that would fool any real analyst.
| [deleted]
___________________________________________________________________
(page generated 2021-10-20 23:01 UTC)