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[Lupingosei]

Tesla's quarterly profit surpasses $1 billion | TechCrunch

Tesla reported Monday an eye-popping $1.14 billion in net income in the second quarter, results that blew past analyst expectations and marked the first

techcrunch.com

Tesla reported Monday an eye-popping $1.14 billion in net income in the second quarter, results that blew past analyst expectations and marked the first time the company’s quarterly profit (on a GAAP basis) has passed the three-comma threshold. The results pushed shares up more than 2.2% in after-hours trading.

Tesla was able to beat expectations and log its eighth straight quarter of profitability even as it grappled with supply chain challenges and losses stemming from its bitcoin investment. Operating income was $1.3 billion, which increased year over year from $327 million, due to volume growth and cost reduction, the company said. Those positive results were partially offset by an increase in operating expenses, supply chain challenges, lower regulatory credit revenue and the aforementioned bitcoin-related impairment of $23 million.

Earlier this month, Tesla reported its produced 206,421 vehicles in the second quarter. Of those, the company delivered 201,250 vehicles, nearly 9% more than the first quarter of 2021.

So Tesla may sell 800k - a million cars this year.

 

[Kev Kev]

 

[Bernd Lauert]

Congratulations to my fellow shareholders.

 

[nightmare-slain]

i'm starting to see these cars all the time now where i live. wish i could afford one. or even any kind of electric car. i like my car but i feel bad for spewing co2 everywhere.

 

[gundalf]

i'm starting to see these cars all the time now where i live. wish i could afford one. or even any kind of electric car. i like my car but i feel bad for spewing co2 everywhere.

Yeah, an electric car let's you spew co2 at a central point instead of everywhere
Back then horses where shitting on the streets, now cars are farting co2, so electric will finally clean the streets!

 

[HarryKS]

There'll be no FSD, it's a sham, much like the quality of the products they deliver. Worse than Made in China.

 

[Banjo64]

These cars are ugly as sin. I don’t understand the cult of personality around them.

 

[ManaByte]

 

[ArtemisClydeFrog]

I don’t understand the cult of personality around them.

MEME GUY SAID A MEME ON TV LOL KEKW OMEGALUL

That's why. It's all cringe. Stick to advancing the human race and shut the fuck up.

 

[Cyberpunkd]

Congratulations to my fellow shareholders.

Down at market open lol.

Long term - yes, congrats to us.

 

[Cyberpunkd]

These cars are ugly as sin. I don’t understand the cult of personality around them.

Think of Tesla cars first as computer on wheels, then as a car.

 

[Banjo64]

MEME GUY SAID A MEME ON TV LOL KEKW OMEGALUL

That's why. It's all cringe. Stick to advancing the human race and shut the fuck up.

Even UK people are buying in to it but I’ve never seen an advert for them?

Think of Tesla cars first as computer on wheels, then as a car.

OK? Still don’t get the hype.

 

[Coolwhhip]

The ignorance on Tesla surpasses 1 billion too in this thread.

 

[QuantumZebra]

I'm a Mopar / Dodge fanboy, but I'm happy for Tesla. Elon is doing things no one else had the vision to do.

I'm still on the fence as to the carbon footprint of electrical vehicles vs. gas/diesel, but there's no denying the right steps are being taken.

 

[Lupingosei]

I'm a Mopar / Dodge fanboy, but I'm happy for Tesla. Elon is doing things no one else had the vision to do.

I'm still on the fence as to the carbon footprint of electrical vehicles vs. gas/diesel, but there's no denying the right steps are being taken.

Are electric cars 'green'? The answer is yes, but it's complicated

Electric vehicles have surged in demand, and hit a record number last year as more and more people turn to battery-operated cars.

www.cnbc.com

 

[QuantumZebra]

Are electric cars 'green'? The answer is yes, but it's complicated

Electric vehicles have surged in demand, and hit a record number last year as more and more people turn to battery-operated cars.

www.cnbc.com

That's a good article. Good info. Still want to know more about the mining process (and also how battery disposal / dumps will go, and their footprint as they decay...).

 

[Rat Rage]

Wake me up once they bring a good, affordable compact car to the market.

 

[Lupingosei]

Wake me up once they bring a good, affordable compact car to the market.

If I remember correctly, Elon wants a certain range for his cars that is why there is no compact out yet.

 

[Torrent of Pork]

That's a good article. Good info. Still want to know more about the mining process (and also how battery disposal / dumps will go, and their footprint as they decay...).

To my knowledge their new tabless batteries removed most of the rare minerals such as cobalt, and the charge controller will not let the battery go below 20%. When taken care of, these new batteries should maintain 90% capacity after a 10 year lifespan, after which the batteries would be re-used in Tesla's utility-scale power banks so they can be babied with a more controlled charging cycle.

5 years ago these things weren't economically viable, but there's been an insane level of battery advancement in a very short time. Tesla's utility-scale battery packs with a respectable solar farm is already cheaper per kWh than natural gas peaker plants.

 

[Torrent of Pork]

Wake me up once they bring a good, affordable compact car to the market.

The $19,000 Model 2 will likely be out by 2023.

 

[Great Hair]

The $19,000 Model 2 will likely be out by 2023.

 

[Torrent of Pork]

The year could be fluid, admittedly, but if the EV tax credit is extended then my price would be $19k. Even the base $25k is still cheap enough to make it viable to just about anybody with a job.

 

[Great Hair]

The year could be fluid, admittedly, but if the EV tax credit is extended then my price would be $19k. Even the base $25k is still cheap enough to make it viable to just about anybody with a job.

Didn't they claim that, when they announced the Model 3? "The affordable EV Car for $30,000" along those line, but in the end they couldn't manufacture them cheaply. A new Model 3 costs easily €45,000+ ($53,000+), a 2nd hand one around €35,000+.

A car for $20,000 has to cost them around $10,000 to $15,000 to build, if they plan on making money with it? The compact car days are gone, there is a reason why everyone is pushing for SUV, CUV (bigger margins, among other reasons).

The Citroen AMI for $8,000? is a city car with no range, all plastic, no airbags? ... a death sentence on 4 wheels. And Tesla won´t make as much from CO2 credits they kept selling to Fiat and others.

Won´t happen, if the build quality is "bad to ok" in a $50,000 to $100,000 car ... imagine how poorly a $20,000 tesla car will be. Do not expect any range from it (100km per day like that AMI car).

 

[GymWolf]

 

[Great Hair]

 

[QuantumZebra]

To my knowledge their new tabless batteries removed most of the rare minerals such as cobalt, and the charge controller will not let the battery go below 20%. When taken care of, these new batteries should maintain 90% capacity after a 10 year lifespan, after which the batteries would be re-used in Tesla's utility-scale power banks so they can be babied with a more controlled charging cycle.

5 years ago these things weren't economically viable, but there's been an insane level of battery advancement in a very short time. Tesla's utility-scale battery packs with a respectable solar farm is already cheaper per kWh than natural gas peaker plants.

Damn, that's good stuff.

I guess my next truck will be an electric Ram (c'mon Mopar!) or Tesla then.

 

[Ozzy Onya A2Z]

I'm waiting on the Model 2 to hit Australia before replacing our second car with a Tesla. We have solar panels already but I want to put in a Powerall before the car purchase.

 

[Relique]

OK? Still don’t get the hype.

It's not hard to see why people like them.
-With current US gas prices it costs 1/3 as much in fuel cost to drive a Tesla when compared to an average car. If you drive around 15,000 miles a year you will pay nearly $2000 in fuel for an average car compared to $600 in electricity for a Tesla. Even a 30mpg Camry will cost around $1700 in fuel. With people keeping cars for 11+ years on average, this is a significant amount of money saved over the lifetime of the car. Obviously this difference will depend on location. I am going by the US average. This gap will continue to widen in the future.
- You leave a smaller carbon footprint. As the tech advances and adoption increases, it will be even smaller.
- Great performance. The base model 3 is on par in acceleration to similarly priced sports cars like the Mustang, Camaro, and 370Z... while being more comfortable to drive day to day. Higher end models are absurdly fast when compared to regular cars.
- They hit an affordable price point of 35,000 which is pretty close to an average entry level luxury sedan like a Mercedes A, BMW 3 series, Acura TLX, etc.
- "Ugly as sin" is subjective. Some people like the way they look.

 

[godhandiscen]

Congratulations to my fellow shareholders.

But the stock didn’t move

 

[godhandiscen]

OK? Still don’t get the hype.

You don’t have to. I also don’t have a desire to own a Tesla, perhaps the CyberTruck, but I love the stock. With all the NPC’s advertising Tesla cars as a status symbol, there is nothing but gains to be made.

It's not hard to see why people like them.
-With current US gas prices it costs 1/3 as much in fuel cost to drive a Tesla when compared to an average car. If you drive around 15,000 miles a year you will pay nearly $2000 in fuel for an average car compared to $600 in electricity for a Tesla. Even a 30mpg Camry will cost around $1700 in fuel. With people keeping cars for 11+ years on average, this is a significant amount of money saved over the lifetime of the car. Obviously this difference will depend on location. I am going by the US average. This gap will continue to widen in the future.
- You leave a smaller carbon footprint. As the tech advances and adoption increases, it will be even smaller.
- Great performance. The base model 3 is on par in acceleration to similarly priced sports cars like the Mustang, Camaro, and 370Z... while being more comfortable to drive day to day. Higher end models are absurdly fast when compared to regular cars.
- They hit an affordable price point of 35,000 which is pretty close to an average entry level luxury sedan like a Mercedes A, BMW 3 series, Acura TLX, etc.
- "Ugly as sin" is subjective. Some people like the way they look.

I just bought a car recently for my parents. Originally, I was going to get them the Model Y, but once I did the math, the Model Y had a more expensive total cost of ownership over 10 years relative to the car I ended up buying, Mazda CX-5. The key factors against the Model Y were the inconsistent build quality and awful repair costs paired with shit customer service. Also, the fact that the APR on a loan for a Tesla is pretty high compared to Mazda’s that was giving me 1% APR.

I think there is definitely many reasons to own a Tesla, but they are not the most pragmatic choice in any category. Some Tesla owners love to flaunt how smart they are for choosing a Tesla, but that argument is a myth and fails hard you really compare all ownership cost variables by side.

 

[Bernd Lauert]

But the stock didn’t move

I'm not a daytrader

 

[Relique]

You don’t have to. I also don’t have a desire to own a Tesla, perhaps the CyberTruck, but I love the stock. With all the NPC’s advertising Tesla cars as a status symbol, there is nothing but gains to be made.



I just bought a car recently for my parents. Originally, I was going to get them the Model Y, but once I did the math, the Model Y had a more expensive total cost of ownership over 10 years relative to the car I ended up buying, Mazda CX-5. The key factors against the Model Y were the inconsistent build quality and awful repair costs paired with shit customer service. Also, the fact that the APR on a loan for a Tesla is pretty high compared to Mazda’s that was giving me 1% APR.

I think there is definitely many reasons to own a Tesla, but they are not the most pragmatic choice in any category. Some Tesla owners love to flaunt how smart they are for choosing a Tesla, but that argument is a myth and fails hard you really compare all ownership cost variables by side.

The model Y in particular does struggle to compete in the mid size SUV market from a price point perspective. The model 3 comes closer to being competitive with what you can buy at that price range. My point about fuel prices is to point out that you can easily shave off a decent chunk of change from from fuel savings when comparing vehicles. A 40k car can be looked at as a 30k when thinking long term. The APR comparison isn't 100% fair because a customer can always bring their own financing, and promotional APR like 1% is not something you can rely on for every car manufacturer at every point in time. You just have to do your research on what fits best for you. I was just replying to a person that makes it sound like a Tesla has nothing to offer over anything else. There is no denying that there are some negatives to owning a Tesla, it's a very young company and new tech that will take time to hit it's peak.

 

[bucyou]

i'm starting to see these cars all the time now where i live. wish i could afford one. or even any kind of electric car. i like my car but i feel bad for spewing co2 everywhere.

yeah, better to feel bad about the co2 spewed from the electricity needed to charge that fancy car