Tesla Q1 2024 Results. Better than what you think.

Tesla Q1 2024 Results. Better than what you think.
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[@larryevans6739]

A few highlights:
- Modifying their existing platform and reusing existing components instead of building an entirely new vehicle platform to roll out new car faster. Shooting for 2nd half of 2025.
- "Low-cost" will not be as low as previously mentioned. $30K?
- To try to expand capacity at existing factories, rather than building new factories. To save capex. Sorry Mexico.
- They hope to get up to 3 MM production capacity, which means previously boasted 50% CAGR and 20 MM sales are not going to happen this decade.
- Lots of speculation on "robotaxi" and Ai. Likely to capture investor imaginations, but we'll see if it amounts to anything of substance.
Considering BYD is currently building multiple plants and already sold 3 MM vehicles last year, Tesla likely has seen their last quarter of global EV sales leadership. Their "low-cost" vehicle on a modified platform likely will not be competitive with the next generation EV platform BYD is planning to launch this summer. But Tesla could cut their market share loss in protectionist countries.

[@Clarioner1]

For every Tesla believer there is an Elon hater ... Stock will continue down to 115-125 and then pick back up. Tesla's biggest threat is from BYD, GWM, Nio, Xpeng and other Chinese brands. Most legacy car brand have already done deals with Geeley and the likie in China, so pretty soon every EV will basically be Chinese, even though it may have a VW, Volvo or Mercedes/Smart car badge.