{"id":14008,"date":"2022-01-27T09:04:06","date_gmt":"2022-01-27T14:04:06","guid":{"rendered":"https:\/\/autosector.com\/?p=14008"},"modified":"2022-01-27T09:04:06","modified_gmt":"2022-01-27T14:04:06","slug":"tesla-delays-cybertruck-2023-no-budget-model-supply-chain","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=14008","title":{"rendered":"Tesla delays new models, isn’t working on a budget model"},"content":{"rendered":"

Tesla<\/a> pushed back introductions of new models to next year, wagering the best way to continue expanding sales in the face of supply-chain challenges<\/a> will be to further leverage a narrow lineup of big sellers.<\/p>\n

The world\u2019s most valuable automaker will focus on scaling up production in 2022 to follow up what CEO Elon Musk<\/a> called a breakthrough year both for Tesla and electric cars<\/a> in general. Relying on just two vehicles — the Model 3<\/a> and Y — for 97% of deliveries helped alleviate challenges led by the semiconductor shortage crimping output across the car industry.<\/p>\n

\u201cBoth last year and this year, if we were to introduce new vehicles<\/a>, our total vehicle output would decrease,\u201d Musk said late Wednesday after Tesla reported record revenue and earnings per share, both of which beat analysts\u2019 estimates. Rolling out the Cybertruck<\/a>, Semi or Roadster in 2022 \u201cwould not make any sense because we\u2019ll still be parts-constrained.\u201d<\/p>\n

While having to procure chips for just a handful of models has been an advantage for Tesla, putting off launches of new products carries some risk. Rivian<\/a> is ramping up production of its R1T electric pickup<\/a>, and truck-segment leader Ford<\/a> is coming to market with a plug-in version of its best-selling F-150<\/a> in the coming months. General Motors<\/a> has begun production of the GMC Hummer EV<\/a>, with the Cadillac Lyriq<\/a> and Chevy Silverado EV<\/a> to follow.<\/p>\n

Tesla shares fell as much as 2<\/a>% to $919 before the start of regular trading Thursday in New York. The stock advanced 50% last year after soaring 743% in 2020.<\/p>\n

\u201cTSLA shares tend to work the best when something new is coming,\u201d Jeffrey Osborne, a Cowen & Co. analyst with the equivalent of a hold rating on the stock, said in a note.<\/p>\n

Lacking near-term additions to Tesla showrooms to promote, Musk spent much of Tesla\u2019s earnings call discussing the potential of self-driving technology and a humanoid robot the company supposedly has under development<\/a>.\u00a0<\/p>\n

While Tesla has for years charged thousands of dollars for “Full Self-Driving” capability that it has said will live up to that name sometime in the future, the features are still in beta and humans must continue minding the steering wheel.\u00a0<\/p>\n

Musk said the robot<\/a> he first teased five months ago may be the most important product the carmaker is working on and has the potential to be more significant than its vehicle business.\u00a0<\/p>\n

That will be a tall order, at least from an earnings perspective. Automotive revenue soared to almost $16 billion in the fourth quarter and was 90% of total sales. Profit excluding some items jumped to $2.54 a share, beating analysts\u2019 average estimate for $2.36 a share.<\/p>\n

Tesla delivered more than 936,000 vehicles worldwide in 2021, up 87% from the year before and exceeding the 50% average annual expansion projected over several years. While Musk expects to comfortably exceed that growth again in 2022, the company warned its factories are likely to continue running below capacity through this year because of supply-chain issues.<\/p>\n

\u201cThe commentary on the risk factors is taking on a different weight in the current environment,\u201d said Gene Munster, a co-founder of investment firm Loup Ventures. \u201cWhenever there are unknowns about the future it can spook investors a little bit.\u201d<\/p>\n

After sitting out Tesla\u2019s earnings call last quarter, Musk returned Wednesday to explain the decision to further delay models he first showed prototypes of as far back as 2017.<\/p>\n

Tesla will do engineering and tooling work this year to get the Cybertruck, Semi and Roadster ready for production, \u201chopefully next year,\u201d Musk said. The company isn\u2019t currently working on a $25,000 vehicle that he said in 2020 Tesla would try to make in roughly three years.<\/p>\n

\u201cWe have enough on our plate right now, too much on our plates, frankly,\u201d Musk said. \u201cThe thing that overwhelmingly matters is when is the car autonomous.\u201d<\/p>\n

Tesla\u2019s “Full Self-Driving” capability will become the most important source of profitability for the company over time, he said. Already the company has raised the price of the option<\/a> and launched a subscription alternative<\/a>.<\/p>\n

With last year\u2019s net income of $5.5 billion on a generally accepted accounting principles basis, Tesla clinched a milestone that its CEO touted toward the beginning of the call.<\/p>\n

\u201cOur accumulated profitability since the inception of the company became positive, which I think makes us a real company at this point,\u201d Musk said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Tesla pushed back introductions of new models to next year, wagering the best way to continue expanding sales in the face of supply-chain challenges will be to further leverage a narrow lineup of big sellers. The world\u2019s most valuable automaker will focus on scaling up production in 2022 to follow up what CEO Elon Musk […]<\/p>\n","protected":false},"author":1,"featured_media":14009,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[3],"tags":[],"class_list":["post-14008","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-design-concepts"],"_links":{"self":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/14008","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14008"}],"version-history":[{"count":0,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/14008\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/media\/14009"}],"wp:attachment":[{"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14008"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}