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The demise of the OEMs
- Thread starter Buckminster
- Start date
Doggydogworld
Active Member
I also laugh at this thread's title. That said, Tesla's Q1 sales were down 7.8% y/y in Cali, a bit less than their global 8.5% decline. They still managed to sell 11.6% of all new vehicles in the state and are the #2 overall brand. Not quite a "demise".
Right, and Tesla's are the Picassos of the EV world
Lets not even get to the interior comparisons
Doggydogworld
Active Member
The Q4 to Q1 comparison is kinda silly. China's auto market in general and BYD in particular are highly seasonal. BYD would have down Q1s even back when they were growing >100% y/y.
Tesla's China revenues were down 25% sequentially in Q1 vs. BYD's 30%. Perhaps BYD's segments are even more seasonal. Or perhaps they engage in good, old-fashioned Q4 channel stuffing.
EVNow
Well-Known Member
Yes - I remember when everyone here used to thrash the media reports that said Tesla's Q1 revenue/income was down compared to Q4. Duh ... don't they know anything about seasonality ?
Now, Tesla fans are doing the same thing.
Ofcourse the market is down in China and that should be highlighted. But not using spurious arguments.
Toyota Gives Weak Outlook After Scandal Prompts Output Cuts (copy at https://archive.is/KzeTd, if you hit a paywall)
uk.finance.yahoo.com
Japanese auto giant Toyota posts record net profit
Toyota reported record annual net profit of more than $30 billion on Wednesday but the world's largest automaker by sales warned that the current year would be less spectacular.For this year it expects net profit of 3.57 trillion yen, down 27.8 percent, because of investments in "growth areas"...
Definitely a retreat from EVs. Really sad.
I just wonder how long before Europe and other countries backtrack on their EV mandates.
In other words they waited too long to innovate and are now giving up and have the stench of emission scandal all over them. There is a reason Model Y is the best selling car in the world, customers will vote with their cash. These dinosaurs are all going to go extinct.
It will be soon enough. Germany has a huge say in EU regulations and German carmakers have a huge say in German politics. Arguably, with most R&D on ICE engines stopped, their profitability from old tech cars will increase. It's just a question of how fast will Tesla and the Chinese manufacturers be able to eat their lunch.
Neither the Chinese or Tesla will be able to eat their lunch…. Smh…. I’ve heard the same song since 2012….
Watched "Toyota's record earnings clouded by EV challengeーNHK WORLD-JAPAN NEWS"Toyota Gives Weak Outlook After Scandal Prompts Output Cuts (copy at https://archive.is/KzeTd, if you hit a paywall)
Japanese auto giant Toyota posts record net profit
Toyota reported record annual net profit of more than $30 billion on Wednesday but the world's largest automaker by sales warned that the current year would be less spectacular.For this year it expects net profit of 3.57 trillion yen, down 27.8 percent, because of investments in "growth areas"...