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2023-10-20 17:17 | Report Abuse
Tesla’s pains in China have been partially a result of widespread subsidies, and partially self-inflicted missteps, as it failed to keep up with the fast evolving market of the developing nation.
In Walter Isaacson's much-discussed biography of Musk, he tells a story in which the billionaire pursues driverless robotaxis as Tesla's future, putting off plans to create a mass market car that would sell for around $25,000. His logic was that an autonomous car would make the cheaper Tesla irrelevant. The development of a fully driverless car is still far out in the future — but a $25,000 Tesla would be useful right about now.
China's market needs and demands cheaper EV options, as it's a country where the average urban worker earns less than $10,000 annually. Tesla's market share in China has accordingly shrunk from 15% to 10% between 2020 and 2022.
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2023-10-20 17:16 | Report Abuse
How Elon Musk's China challenges may cost Tesla its next $800 billion in market cap
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2023-10-20 15:34 | Report Abuse
Producing a great EV or two by itself doesn't make an auto stock worth owning. But it does mean that a traditional car maker has a viable business model down the road, even if the global market for gas-powered cars is half its current size in 2030, as Wall Street, and the car companies, expect. Without the existential risk of a declining gasoline-car business, investors can evaluate BMW stock based on its fundamentals.
Not everything is perfect. Pricing, for instance, will act as a headwind. New-car prices in the U.S. are still up more than 20% from prepandemic levels, which has been helpful for operating profit margins that are expected to hit 11% at BMW in 2023, up from a historical average of 9%. Wall Street projects that margins will fall back to 9% in coming years, pressuring earnings, which could hit $17.50 a share in 2024 after peaking at almost $29 in 2022.
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2023-10-20 15:31 | Report Abuse
BMW (ticker: BMW.Germany) isn't known for EVs. It's a luxury auto maker that makes sleek, stylish -- and pricey -- sedans such as the 8 Series Gran Coupe, the M3 sports car, and the X5 Sports Activity Vehicle. But the German company has also become a stealth EV play. It delivered 93,931 all-battery electric vehicles, or BEVs, during the third quarter of 2023, more than General Motors $(GM)$, Ford Motor $(F)$, and Rivian Automotive $(RIVN)$ combined.
Some traditional auto makers have larger EV businesses, but few can match BMW's sales mix. The larger Volkswagen (VOW.Germany), for instance, sold 210,000 BEVs during the third quarter, but that amounted to 9% of total sales. BEVs made up 15% of BMW's total third-quarter sales, up from less than 9% the year before, a number that doesn't include its hybrid sales. That puts the company in an enviable position. "BMW has both kept powertrain options open and been methodical about developing EVs," says Jefferies analyst Philippe Houchois.
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2022-10-07 21:08 | Report Abuse
Oct 7 (Reuters) - U.S. stock index futures fell sharply on Friday, as data showed bigger-than-expected job additions last month and a drop in the unemployment rate, giving more room for the Federal Reserve to stick to aggressive interest-rate hikes.
The Labor Department's closely watched employment report showed nonfarm payrolls increased by 263,000 jobs last month after rising 315,000 in August.
The report also showed the jobless rate was at 3.5% in September, below expectations of 3.7%. Traders now see a 89.8% chance of 75 basis-point hike by the Fed, up from 83.4% before data
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Stock: [INSAS]: INSAS BHD
2023-10-20 20:15 |
Post removed.Why?