Oh Tesla Q1 delivery number looks really bad

Read previous post on a $360 billion Tesla.

Although production number is flattish, Tesla q1 delivery number is worse than expected.

China reported wholesale number for Tesla is 89,064 for March (+0.2% yoy) and YTD is -3.7% yoy.

However, this wholesale number from China doesn’t mean cars have been delivered to customers.

Europe’s reported monthly number points to yoy growth of 40% for the first two month, but March was disrupted so won’t keep up the growth.

US customers are still facing super high interest rate on auto loan.

Tesla recently hiked the price, which indicates a change in strategy to protect profits, in-line with Tesla’s move to drop volume guidance for the year.

As price competition is fierce in China, lower some price for volume won’t help Tesla’s China profit much. Some target/core customers also won’t go away if Tesla raised some price (low price elasticity).