Tesla has N punk ways to hog the heat – rights, failure, speculation, stock prices, price cuts …… and price increases.
01
And again and again and again price increase
After raising the price in the U.S. market, Tesla has also raised the price of a Model 3 in the domestic market.
Tesla Weibo released on May 8, effective immediately, the Tesla Model 3 standard range upgrade will increase by 1,000 yuan, and said this adjustment also reflects the actual situation of cost fluctuations.
Before the increase, the starting price of the standard range upgraded Model 3 in the domestic market before subsidies was 265,700 yuan, after the increase is 266,700 yuan. After deducting the subsidy of 15,800 yuan, the starting price for private purchase is 250,900 yuan, compared with 249,900 yuan previously; the subsidy for non-private purchase is 11,100 yuan, and the starting price is 255,700 yuan.
This is the second price increase for the domestic version of Tesla since this year, and the sixth price increase for the Model 3 series during the year.
On March 24, the price of both the long-range and high-performance versions of Tesla Model Y was raised by RMB 8,000. After the price increase, the latest price of the domestic Model Y Long Range Edition is 347,900 RMB, while the High Performance Edition is 377,900 RMB.
Meanwhile, the overseas version of Tesla has increased its price four times in two months.
On May 7, Beijing time, Tesla’s U.S. official website showed that the starting prices of Model 3 Standard Range Upgrade and Long Range Edition, as well as Model Y Long Range Edition were raised by $500.
This is the fourth time that Tesla has increased the price of Model 3 Standard Range Upgrade and Long Range Edition in the U.S. market in the past two months, and the price has increased by a total of $2,000 so far. The starting price of the Model Y long-range version has also been raised three times, with a cumulative price increase of $1500 so far.
It is worth noting that the Model 3 has been reduced in price several times after its domestic production, which has caused continuous concern. Domestic production for more than a year, with the reduction of production costs, Model3 experienced five price cuts, from 358,800 yuan down to a minimum of 249,900 yuan, has been reduced before the purchase of the car of the old owners talk.
In this regard, Tesla has responded: price and cost-related, the cost of savings not allowed to consumers, it is called “cut leeks. If the future price of raw materials or parts rise, Tesla may also increase prices. Regardless of the point in time, to provide consumers are the best price.
Earlier, in a conference call, Tesla CEO Musk said that Tesla faced tough challenges in the first quarter in terms of supply, chip shortage is a “huge problem”, this year in the Texas factory production is limited, next year will be mass production. The company aims to produce 500,000 Model 3s a year and believes the Model Y is likely to be the best-selling car in 2022.
After hitting an all-time peak in January this year, Tesla shares then entered a shocking retreat, having fallen over 20% since this year’s high, with an overall drop of 4.72% this year, currently at $672.37 per share and a total market cap of $647.7 billion.
02
Auto industry costs rise, car companies open price hike mode
In fact, in addition to Tesla, due to the “lack of core” from last year and other parts price increases, Ford and other traditional car companies have long opened price increase mode.
According to “Forbes” reported that in the first quarter of this year, due to the shortage of chip supply, Ford’s production loss of about 200,000 vehicles, accounting for about 17% of its planned production. However, Ford offset some of the impact of the production drop by raising the average transaction price per vehicle to nearly $48,000 (about 308,700 yuan), according to research firm Edmunds.
According to Xinhua, India’s homegrown automaker Tata Motors announced on May 7 that it will raise the sales price of its passenger cars again, starting on the 8th.
Tata Motors made the statement in a filing to the Bombay Stock Exchange on May 7. It is reported that the sales price of Tata Motors’ passenger cars will be increased by an average of 1.8%. Shailesh Chandra, president of Tata Motors’ passenger car business, said: “The rise in steel and special steel prices has forced the company to pass on some of the pressure through higher product prices.
This is the third time this year that Indian automakers have raised prices. in April, Indian automakers raised sales prices due to increased input costs.
In early April, South Korea’s Chosun Ilbo reported that there was no short-term solution to the rising costs of the auto industry. At present, the demand for semiconductors around the world far exceeds the supply, and even if semiconductor companies immediately increase production lines, actual production will not start until at least a few months later. A Korean auto industry related person said, “Most of the popular models this year are having trouble avoiding delays in leaving the warehouse. The cost increase from the price hike of parts is likely to be reflected in the price of new vehicles.”
03
Who is buying Tesla?
Tesla has been in the spotlight recently around the rights issue. The most recent incident was on May 7, when a netizen broke the news that a Tesla Model 3 rear-ended a truck in Shaoguan, Guangdong, and the scene was tragic, with the Model 3 also suffering huge impact damage. Also according to @peacefulshaoguan microblogging, the driver of the car died on the spot.
But the latest results released show that Tesla’s performance is still bright.
The financial results show that Tesla’s total revenue for the first quarter was $10.389 billion, up 74% compared to $5.985 billion in the same period last year, slightly lower than analysts’ expectations of $10.414 billion; GAAP net profit attributable to common shareholders was $438 million, achieving a 26-fold year-over-year increase, the highest quarterly earnings record ever, and seven consecutive quarters of positive profitability.
It is worth noting that Tesla’s profits are not based on selling cars, but on selling carbon credits and speculating on bitcoin.
In the first quarter, Tesla earned $518 million in carbon credits. Investment in bitcoin generated $101 million in revenue, and the company’s bitcoin assets stood at $1.33 billion as of Q1 2021.
If you remove the income from investing in bitcoin and carbon credits, Tesla’s net income for the quarter was actually negative.
Who exactly is buying Tesla?
According to Deep Impact, the sales data for April is not yet available, so the direct impact of the rights on sales is not yet reflected. However, a recent visit to several Tesla experience stores in Beijing, including Qiaofu Fangcaodi and South Fourth Ring Road Central, revealed that the amount of customers entering the store was not affected too much. In some stores, about 7 groups of customers entered the store within 40 minutes to experience.
At the same time, a number of Tesla employees also said that although deep in the whirlwind of public opinion, but the order situation has not been greatly affected, “but to Tesla and a wave of advertising, almost ‘white whoring'”.
Tesla officially entered China in April 2014, when Musk came to China for the first time to deliver the product to the first owners. The first owners were eight entrepreneurs including Wang Dongfeng, Li Xiang, Yu Yongfu, Pan Yanming, Xu Liang, Dong Xiaoli and others. In addition, Lei Jun, Cao Guowei and other IT technology leaders are also the first fans of Tesla.
At present, Tesla’s sales in China have accumulated over 250,000 units.
From the geographical point of view, North, Shanghai and Guangzhou are the main “positions” of Tesla. According to the data of traffic insurance, the licensing volume of Tesla in 2020 is 139,000 units, among which the licensing volume in Shanghai, Guangdong, Zhejiang and Beijing are 33,000, 26,000, 17,000 and 14,000 respectively, accounting for 23.7%, 18.5%, 12.4% and 10.2%, or a total of 64.7%. This also means that the current regions with higher demand for Tesla are still the more developed and license-restricted regions in the east and the coast.
In terms of the age of owners, according to the NetEase Auto survey, Tesla owners are 30.3 years old, which is lower than the user groups of many car brands. Among them, owners aged 31 to 40 accounted for 56%, 25 to 30 accounted for 20%, and even the number of users aged 18 to 24 accounted for 3%. This also means that the younger group is more receptive to Tesla.
Professionally, Tesla owners are mostly engaged in the digital, technology, electronics and Internet industries, they have a certain understanding of the latest electric vehicles and new energy technology, and are more tolerant of some minor problems that may arise, and also have a stronger tolerance, many owners even mock themselves as “leeks”.
It is worth mentioning that 83% of Tesla owners have two or more cars, and an electric car is not the first car. Only 17% of the owners of Tesla as the first car for the family, mainly because of the number restrictions in cities such as Beijing, Guangzhou and other cities, the current policy, giving rise to this part of the user demand.
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