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Tesla Market Value Surpasses 1 Trillion

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lkjohnson1950:
News that Hertz will purchase 100,000 Tesla cars, and that the Tesla Model 3 is the #1 selling car in Europe sent shares of Tesla over $1000 and raised it's market value to 1 trillion dollars. Have we reached the Dawn of the Electric Age?

https://cheddar.com/media/hertz-orders-100000-model-3-electric-vehicles-from-tesla?utm_source=&utm_medium=email&utm_campaign=8922

Jericoke:
Stock market is crazy.

Tesla makes about 100k Model 3 per quarter... so either they're upping production, or it's about to get very hard to buy one.

I would assume that Hertz is buying at fleet rates, so the profit per car is going to be much slimmer, assuming they're delivered at all.

This would be good news for Tesla if they had huge stock/capacity of unsold cars, but selling 1/4  of your production luxury cars at a discount?

I think Hertz is the winner here though.  Electric cars fit the rental market, they're usually used for in city driving, and the auto pilot features will help keep the cars protected, the rental locations can use their own infrastructure to charge cars.  And their name is looking synonymous with Tesla, which is a trillion dollar company.  There's no one else who can match the deal... there aren't enough Teslas to go 'round!

John S:
Hard to see how the market can believe Tesla is trillion dollar company when it's still massively behind in sales to the other big players in the automotive sector and only took the top spot in Europe for Sept due to lack of deliveries from most other companies due to chip shortages.

Model 3 sold just 24,591 out of a total delivery of 964,800 units in Euro auto market, and that total fell 25% on previous year.
With just 2.5% of the total market for model 3 it's mainly smoke and mirrors methinks.

This is how Auto industry news site BYRI.net views the Tesla acheivement of No 1 spot:-
The Tesla Model 3 finally wears the crown coveted by manufacturers, since Elon Musk’s electric sedan sold out at 24,591 copies, against 18,264 units for the most famous French woman, the Renault Clio.

Data from Jato Dynamics shows that sales of the Tesla Model 3 have increased compared to September 2020. They are up 58%, while the Clio saw sales decline by 23%. In third position, we find the Dacia Sandero followed by the Golf and the Fiat 500.

The Tesla Model 3 can savor its success, at a time when new car registrations fell 25% to 964,800 units in September 2021 in particular because of the shortage of chips which paralyzes the automobile industry. “Dealers continue to experience issues with the availability of new cars due to the chip shortage. As a result, not wanting to wait more than a year for a new car, many consumers have turned to the car market. second hand”, commented Felipe Munoz, Global Analyst at JATO Dynamics.

Notice Hertz news release states completion of purchase by end of 22, now is that the final delivery date or the last order tranche?  :confused:
To me this smacks of a PR stunt ahead of the UN COP26 world environmental conference next week. Musk has always been cute at playing the Stock Markets at their own game.

Warmwater:
Electric vehicles are the future.
Internal combustion engines are noisy, shaky, smelly, inefficient dinosaurs needing frequent expensive maintenance and require an elaborate transmission just to operate satisfactorily.
I do not like to blow my own horn, but I do have some knowledge of the subject, having owned over 100 i.c.e. vehicles, and one custom-built electric car. I also worked for 18 years as the Engineering Manager for a lithium battery factory. Happily, I will never have to buy another petroleum-powered vehicle, thank you Elon Musk!

Andy B:

--- Quote from: Warmwater on October 29, 2021, 06:50:35 PM ---Electric vehicles are the future.
Internal combustion engines are noisy, shaky, smelly, inefficient dinosaurs needing frequent expensive maintenance and require an elaborate transmission just to operate satisfactorily.
I do not like to blow my own horn, but I do have some knowledge of the subject, having owned over 100 i.c.e. vehicles, and one custom-built electric car. I also worked for 18 years as the Engineering Manager for a lithium battery factory. Happily, I will never have to buy another petroleum-powered vehicle, thank you Elon Musk!

--- End quote ---

Hydrogen is the way to go!

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