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140

Tesla (TSLA) releases Q1 2024 deliveries: disastrous results (electrek.co)

submitted 7 months ago by [email protected] to c/[email protected]

34 comments fedilink hide all child comments

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[–] [email protected] 14 points 7 months ago

Hell yeah, Lonnie! You're doing it, man. The public loves you and it shows. Keep running that website into the ground and exposing yourself as a drugged out Little-Man with terrible opinions. Drive the value of your companies DOWN until they're destroyed. Make yourself irrelevant. Erase yourself from the news and public life. I BELIEVE IN YOU!

You know what? I've got a great idea and I'll give it to you for free. Go on Shitter and blame the salaried employees who were invited to deliver sales for no extra pay. Those lazy fucks are the reason you missed your target. If they'd have worked for free, like you wanted them too, the number wouldn't be nearly so bad. In fact, it could have been another growth quarter! Ungrateful wretches!

Do this now. ^^

[–] [email protected] 18 points 7 months ago* (last edited 7 months ago) (3 children)

~~According to the data in the article, Tesla has a 1.5% YoY Q1 delivery growth. Hardly disastrous to sell more cars this quarter than in the same quarter last year.~~

~~422,875 in Q1 2023~~

~~433,371 in Q1 2024~~

Edit: I was corrected that in fact deliveries were down 8.5% YoY. That does seem disastrous, particularly since they are banking on growth.

[–] [email protected] 5 points 7 months ago (1 children)

This article is about the dropping analyst predictions, leading up to the actual announcement from Tesla.

The official announcement a few hours after the article was 386,810, significantly lower than even the low expectations.

[–] [email protected] 2 points 7 months ago* (last edited 7 months ago)

Thank you for the correction. That is certainly a big deal, particularly since they are banking on growth as they aren't yet a huge part of the pie. I amended my above post with your correction.

[–] [email protected] 32 points 7 months ago (3 children)

Production out pacing demand is a bad sign. Tesla has burned through all the early adopters (who are generally more forgiving) and they way more competition. They need to go after the early majority population.

Also, Elon is no longer charming. Like it or not it matters. No one can name a CEO of another car company so there less a 1:1 correlation between Elon alienating people and a brand.

And regarding the “hardly disastrous” metric, it only matters versus your competition because is measures relative performance to what was available. Taken on its own is meaningless.

[–] [email protected] 8 points 7 months ago (1 children)

I'd like to believe its a combo of factors -

The cars being very expensive while also becoming ubiquitous. They could get away with overpriced cars like 5-8 years ago when it was a huge flex to have one. People don't want to pay sports car prices to drive what is essentially the new Corolla (default basic bitch sedan). Also any perceived street cred for choosing a "green" option was eroded because that social segment hates Elon.
Tesla still has perceived quality issues from panel gaps to fires. People don't like paying premium prices for products with issues.
Tesla is still the Apple of the automotive world when it comes to things like right to repair and user privacy. Their vehicles and apps collect a ton of data and telemetry. I'd like to believe this one is a show stopper for more people...but based on the continued popularity of iPhones it clearly isn't a problem for average consumers.

[–] [email protected] 1 points 7 months ago

The cars being very expensive while also becoming ubiquitous

Tesla has had several price drops in the last year or two, and the tax credits got better (at least for cars that qualify, which most Teslas do).

I think it's because Elon Musk started being a drag on the Tesla image. Other expensive cars (EV or otherwise) are doing fine.

[–] [email protected] 5 points 7 months ago* (last edited 7 months ago)

He was never fucking charming...

I mean, granted for sure he's gotten worse, but I don't trust people who gave him a pass before the past couple of years.

[–] [email protected] 6 points 7 months ago (2 children)

Hey speak for yourself.

Jim Farley - Ford Mary Barra - GM

Don’t ask me any other companies though lol

[–] [email protected] 3 points 7 months ago (1 children)

Is iacocca still over at Chrysler?

[–] [email protected] 3 points 7 months ago

On top of the Chrysler Building stands a mummified Iacocca shooting lasers from eyes and mouth into dark of the new york city skyline.

[–] [email protected] 2 points 7 months ago (1 children)

I knew those two as well as the VW CEO, except VW CEO seems to be a revolving door position these days, so my info on that one may be out of date already.

[–] [email protected] 1 points 7 months ago (1 children)

What’s going on at VW to cause so many changes?

[–] [email protected] 1 points 7 months ago

Got caught lying about their emissions then had to pay hefty penalties, and now they can't find anyone to run a company that has destroyed it's good name in an era when "good for the planet" is one of the largest selling points and no one wants to buy their cars.

[–] [email protected] 13 points 7 months ago* (last edited 7 months ago) (1 children)

Yeah, but they've apparently produced ~50k more than delivered. How much does it cost them to store those extra? How much have they invested in those and not quickly recouped their manufacturing cost? So they basically have around 20% of their production numbers just sitting unsold? Those numbers anyway you cut it are very, very bad.

[–] [email protected] 3 points 7 months ago

That's also just the most recent quarter. They've been "building inventory" for the past couple of years now and it's a lot closer to 120k cars unaccounted for at this point.

[–] [email protected] 24 points 7 months ago

No CarPlay still.

Sad.

[–] [email protected] 15 points 7 months ago (1 children)

Yuck. I knew Tesla wasn't going to be immune to the EV slowdown happening everywhere...but still yuck. And I think there's a recession coming so alot of companies will be contracting this year...but still yuck.

[–] [email protected] 9 points 7 months ago

Well, there’s also the Musk of it all to consider. Plenty of EVs around now that don’t directly support that jackass.

[–] [email protected] 33 points 7 months ago (4 children)

I know I can't go five minutes on the road without seeing a Model Y, but I had no clue they made up 95% of Tesla's production.

[–] [email protected] 3 points 7 months ago

I mostly see Model 3s but do see some Model Ys.

[–] [email protected] 3 points 7 months ago (1 children)

Which one is the model y is that the smaller hatchback one?

[–] [email protected] 3 points 7 months ago (1 children)

I wouldn't say there's anything small about them, but they're the ones with the hatch

[–] [email protected] 3 points 7 months ago

Less massive than the huge one is probably a better way to put it tbh

[–] [email protected] 2 points 7 months ago (1 children)

I think I've maybe seen two Teslas that weren't Model Ys in the wild. Granted, I don't live in a big city, but still, there are plenty of Model Ys I see driving around.

[–] [email protected] 5 points 7 months ago (1 children)

I live in the LA area and saw 3 of those stupid cyber trucks last week. I see a lot of 3s, the occasional X and S too. But the 3 and Y are everywhere, almost all are in white only. They're almost as ubiquitous as the Civic and Carolla were in the 90s and early 00s.

[–] [email protected] 2 points 7 months ago (2 children)

White seems to be very popular. My Prius was white, but I didn't get to choose the color. It was the only one available in my price range on the lot and my previous car totally died on me when an asshole mechanic fucked it up, so I didn't have a choice.

I hate it. It looks dirty all the time.

[–] [email protected] 2 points 7 months ago

White is currently the color that you don't pay extra for. When I bought mine back in 2019, black was the "free" color.

[–] [email protected] 3 points 7 months ago (1 children)

Ugh, that sucks. Who knows how far your Prius could have gone otherwise.

I was looking at a 3 when it was first announced, but I'm driving my Prius till it dies. Sucks Toyota supported the election deniers.

[–] [email protected] 2 points 7 months ago

No, sorry about the misunderstanding. The car before the Prius died. I replaced it with the Prius. It's doing fine.

[–] [email protected] 9 points 7 months ago (2 children)

It makes sense. There's really no reason to get any other version, especially given the price of the X

[–] [email protected] 11 points 7 months ago

Model 3s are excellent cars, more than enough for many people, cheaper, more range. I see a lot of these