Tesla posts a wildly profitable Q3 despite difficult car market

[EvilEyeFleegle]

I keep hearing about how Electric cars aren't viable....and yet....

MSN

Despite a global pandemic and ongoing chip shortage, Tesla continues to make money hand over fist. The company reported on Wednesday that it had a net income of $1.62 billion — five times more than it did this time last year. What's more, Tesla's operating income grew some 54 percent over the past quarter to $2 billion.

Company executives pointed to record-setting sales of both the Model 3 and Model Y — a combined 232,102 units delivered during Q3 2021 — for the explosive earnings growth, though only 9,289 Models X and S were shipped during the same period, a nearly 40 percent drop from Q2 2021 rates.
The company also released a more streamlined iteration of its car companion app that "enables phone key for multiple vehicles simultaneously, allows commands to be sent to the vehicle immediately upon opening the app and integrates the purchase of upgrades, subscriptions and accessories." New features include Disney+ streaming, a scrolling arcade shooter dubbed Sky Force Reloaded, a "car wash mode," and various tweaks to improve the vehicle's cold weather performance.

 

[Oddball]

Any asshole can be "wildly profitable" with billions in corporate welfare.

 

[EvilEyeFleegle]

Any asshole can be "wildly profitable" with billions in corporate welfare.

True enough...Lord knows that there are a whole lot of people doing that..from large agro-business to Petro-chemical companies..and on and on.
However..not really seeing a lot of that here.....people are paying money and getting cars...simple as that. Are there incentives..sure...so?

 

[Oddball]

True enough...Lord knows that there are a whole lot of people doing that..from large agro-business to Petro-chemical companies..and on and on.
However..not really seeing a lot of that here.....people are paying money and getting cars...simple as that. Are there incentives..sure...so?

Whatbaoutism.

Musk is one of the biggest corporate welfare mothers in the nation.

Musk defends receiving $4.9 billion in government support for Tesla, SolarCity and SpaceX

Tesla CEO Elon Musk defended the backing his companies get from state and federal sources as legitimate business practices, blasting a newspaper report about government subsidies as “inexcusable” and inaccurate.

www.rt.com

 

[struth]

I keep hearing about how Electric cars aren't viable....and yet....

MSN

Despite a global pandemic and ongoing chip shortage, Tesla continues to make money hand over fist. The company reported on Wednesday that it had a net income of $1.62 billion — five times more than it did this time last year. What's more, Tesla's operating income grew some 54 percent over the past quarter to $2 billion.

Company executives pointed to record-setting sales of both the Model 3 and Model Y — a combined 232,102 units delivered during Q3 2021 — for the explosive earnings growth, though only 9,289 Models X and S were shipped during the same period, a nearly 40 percent drop from Q2 2021 rates.
The company also released a more streamlined iteration of its car companion app that "enables phone key for multiple vehicles simultaneously, allows commands to be sent to the vehicle immediately upon opening the app and integrates the purchase of upgrades, subscriptions and accessories." New features include Disney+ streaming, a scrolling arcade shooter dubbed Sky Force Reloaded, a "car wash mode," and various tweaks to improve the vehicle's cold weather performance.

the rich keep getting flooded with cash in xiden’s fascist utopia…they can afford to buy these expensive cars

meanwhile the working class are facing massive inflation, can’t get their car fixed due to chip shortages but can’t also afford to even buy a used car due to record inflation.

 

[Dekster]

Yet their stock dropped in after hours trading.....

 

[EvilEyeFleegle]

Whatbaoutism.

Musk is one of the biggest corporate welfare mothers in the nation.

Musk defends receiving $4.9 billion in government support for Tesla, SolarCity and SpaceX

Tesla CEO Elon Musk defended the backing his companies get from state and federal sources as legitimate business practices, blasting a newspaper report about government subsidies as “inexcusable” and inaccurate.

www.rt.com

2015 was a few years ago. I remember reading the LA times article when it came out and thinking about how smart the guy is~
My opinion is unchanged.

 

[whitehall]

From what I understand Tesla stock went up about .70 (cents) in he last year.

 

[EvilEyeFleegle]

From what I understand Tesla stock went up about .70 (cents) in he last year.

Musk is a risk taker..it spooks the market. of course..the Dow is not the definitive voice on value, after all. Tesla is positioned well.

 

[TheGreatSatan]

I like elon. Hope he does well.

I wonder if he will get into balloon type space elevators?

 

[Oddball]

2015 was a few years ago. I remember reading the LA times article when it came out and thinking about how smart the guy is~
My opinion is unchanged.

Your opinion is irrelevant....Musk is a welfare mooch.

 

[Dekster]

Musk is a risk taker..it spooks the market. of course..the Dow is not the definitive voice on value, after all. Tesla is positioned well.

I think it the tendency of the self-driving feature to kill people that is spooking the market. Maybe I am biased because I was bored with nothing to spend money on during the early days of COVID and loaded up on $4.50 a share Ford stocks last year.

 

[MisterBeale]

Your opinion is irrelevant....Musk is a welfare mooch.

Agreed.

All the elites admitted to engineering the election for the "build back better" crowd, and now this same crowd is re-engineering the entire infrastructure of the nation to suit folks like Musk.

If that is not the height of being a welfare mooch and rigging the system, I don't know what is.

Definitely NOT the free market at work.

. . . and we don't need to turn to conservative sources for THAT truth.

 

[EvilEyeFleegle]

I think it the tendency of the self-driving feature to kill people that is spooking the market. Maybe I am biased because I was bored with nothing to spend money on during the early days of COVID and loaded up on $4.50 a share Ford stocks last year.

Yeah..well I don't have that level of trust either--but you can get one that you can drive--and I've driven one...quite nice!

 

[EvilEyeFleegle]

Agreed.

All the elites admitted to engineering the election for the "build back better" crowd, and now this same crowd is re-engineering the entire infrastructure of the nation to suit folks like Musk.

If that is not the height of being a welfare mooch and rigging the system, I don't know what is.

Definitely NOT the free market at work.

. . . and we don't need to turn to conservative sources for THAT truth.

Good grief! Grow up..this is the way things get done..and furthermore...it's been the way thing's have gotten done in this country for a long time now~
The oil industry...fueled the auto..and built an empire, Musk and his ilk..want to be their successors. So?
I would love the conversation about just when you think 'free markets' have ever controlled shit?
The first thing a budding capitalist learns is how to rig the game.

 

[Dekster]

Yeah..well I don't have that level of trust either--but you can get one that you can drive--and I've driven one...quite nice!

I've driven one around the block (well technically a neighborhood). A friend has one of the Model S's I tried out when I was visiting him a few years ago. My Buick with a gas engine is quite nice to drive as well and was a weeeeeeeee bit cheaper. We'll see how that market goes if the government switches from taxing fuel to taxing milage like their test-pilot program is exploring. There are a lot of big blue cities where if you aren't retired, you are putting hundreds of miles a week on your car just going back and forth to work. Tesla really still needs to find a way to get their price point down. Their Model 3 is essentially a Nissan-sized car with a 50% higher price tag.

 

[blackhawk]

Good for Tesla I still don't want one.

 

[theHawk]

I keep hearing about how Electric cars aren't viable....and yet....

MSN

Despite a global pandemic and ongoing chip shortage, Tesla continues to make money hand over fist. The company reported on Wednesday that it had a net income of $1.62 billion — five times more than it did this time last year. What's more, Tesla's operating income grew some 54 percent over the past quarter to $2 billion.

Company executives pointed to record-setting sales of both the Model 3 and Model Y — a combined 232,102 units delivered during Q3 2021 — for the explosive earnings growth, though only 9,289 Models X and S were shipped during the same period, a nearly 40 percent drop from Q2 2021 rates.
The company also released a more streamlined iteration of its car companion app that "enables phone key for multiple vehicles simultaneously, allows commands to be sent to the vehicle immediately upon opening the app and integrates the purchase of upgrades, subscriptions and accessories." New features include Disney+ streaming, a scrolling arcade shooter dubbed Sky Force Reloaded, a "car wash mode," and various tweaks to improve the vehicle's cold weather performance.

Is that why he’s moving out of California and to Texas? Because it’s economically viable.

 

[EvilEyeFleegle]

Is that why he’s moving out of California and to Texas? Because it’s economically viable.

NO dufus..it's because the two states comprise a huge segment of our high-tech..oh and couple that with ample skilled labor--and Texas is more business friendly.
I'd leave Cali too....

 

[theHawk]

and Texas is more business friendly.
I'd leave Cali too...

There you go, lefty policies are shit.