The time for bluster seems to be over at Tesla… Posts deleted, act of authoritarianism against the recalcitrant of the face-to-face, Elon Musk can no longer hide his feverishness. This even extends to Space X, with a crackdown on the freedom of expression of certain executives. The flamboyant billionaire who once promised to change the world has returned to the fundamentals of the old capitalist world, a sign of great nervousness. It must be said that the one who has a habit of bluffing the market is going through a complicated sequence with his project to take over Twitter, and for which he sold more than eight billion dollars in Tesla shares to finance this operation at 44 billion dollars.
Tesla prepares minds for a catastrophic quarter
Worse, today, Tesla is going through a veritable air pocket. In mid-June, Elon Musk warned that the quarter would be disappointing. For several reasons: first, the group took full face the total containment imposed in Shanghai, effectively interrupting the production of its factory located in this region. However, the first market in the world is also the second for Tesla with a third of its world sales. But in April, sales in the Middle Kingdom fell by … 98%.
Then, Tesla encountered critical supply problems first in semiconductors, then more recently on the charging port, as reported by the specialized site Automobile Propre. This series of disappointments impacted deliveries. At the moment, the orders taken will not be delivered, at best, until the beginning of 2023.
Finally, tensions over raw materials led Tesla to multiply price increases. At 53,490 euros, the Model 3 is dangerously approaching the threshold of 60,000 euros from which it is no longer eligible for the ecological bonus. This is the fourth price increase for the best-selling electric car in a year. At the time, it cost less than 45,000 euros.
Crash during takeoff
The confirmation of Tesla’s difficulties had the effect of a cold shower since it comes at a time when the leading automotive brand of premium electric cars had accelerated sharply with an 87% increase in sales in 2021 to cross the highly symbolic threshold. of the million registrations, which could give hope of chasing Audi or Mercedes from 2022! This rise should have been favored by the arrival of new models including the Model Y and the opening of the Berlin factory. This slowdown is all the more brutal as the first quarter had been exceptional with a turnover which had exploded to 18.7 billion dollars (+ 81%), and a net profit multiplied by seven (3.3 billion) . Tesla’s dazzling growth curve had taken its capitalization beyond $1 trillion in 2021. But since hitting its highest in early November, the stock has dropped 41% of its value. But the title seems more under the pressure of the news around Twitter, than the difficulties of Tesla which is still valued more than 750 billion dollars … To be compared to the 54 billion euros of a Volkswagen.