The EV game has some investors confused. But Cathy Wood buys more Tesla. Here's updates from Tesla, BYD, Geely, Rivian, Toyota, GM + Xiaomi
The EV game has some investors confused (not Cathy Wood who bought moreTesla overnight, while options suggest $Teslashares will be higher in 3 weeks).Here's an EV update from 7 car makers who all saw sales rise (ex Tesla & GM). Below are also updates from Tesla, BYD, Geely, Rivian, Toyota, GM, + China's electronics company Xiaomi launching an EV after Apple's exit.
As you will see from the below, some investors are confused by the EV game, but consumers....can look forward to 'bargains'.
1- Tesla $Tesla (TSLA.US)$ sales drop for 1st time YoY since the pandemic. Selling 8.5% less EVs than year ago,386,810 EVs in Q1 2024 (vs estimates of 449,080 its biggest miss of expectations in 7 years)
Tesla previously warned EV sales would be 'notably lower' this year amid 'interest rates' keeping their EVs out of reach.
$Tesla (TSLA.US)$shares are down 35% YTD (& down 60% from all time highs $414) after falling 4.9% overnight to $166.63 after
'Savvy' investors think $Tesla (TSLA.US)$ shares could rise back to $180 by April 19 (according to options).
Cathy Wood's $ARK Innovation ETF (ARKK.US)$ bought 134,210 shares overnight taking her holding to 4,000,201.
2- China's BYD ( $BYD COMPANY (01211.HK)$) sales+13%from a year ago, to 626,263 new energy vehicles including hybrids.
-The Buffett backed car makers sales included 300,114 pure EVs sales
Geely pure EV sales +9.6% y/y to 28,435. Hybrid sales +86% (from 2,150) to 16,356. Total sales YTD +49% from year ago to 475,720.
4 -Toyota electrified sales+47%Q1, to 206,850. Electric sales now account for 36.6% of total sales. Total sales +20.3% to 565,098.
GM EV sales are miniscule; 16,425 units, that's 2.8% of total overall sales.
6 -Rivian $Rivian Automotive (RIVN.US)$ sold 13,588 EVs in Q1+70 YoY.It aims to sell 57,000 EVs in 2024.
Rivian like many EV makers is accelerating work of its cheaper EV, its R2 model.
7- China's Xiaomi shares surge 15% in a day after orders for its 1st EV, SU7, exceeded estimates, with90,000orders in its first 24 hours, putting it on par with Tesla's Model 3, one of China's best-selling EV sedans.
Its EV is $4k cheaper than Tesla's Model 3 and has styling cues from Porsche
Xiamoi's co-founder promised deliveries by early April
EV analysts (Goldman Sachs) question this, saying the average EV the wait for Xiamoi's SU7 may be extended to 12-21 weeks (vs the 5-8 week projection).
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Why metal prices are headed for more upside.
Why lithium prices are expected to have seen their bottom (behind us).
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The Xiamoi EV has a range of 668 kms, it offers a horsepower equivalent to Porsche.
That distance is more than Tesla's Model S range of 646km.
Xiamoi's SU7 uses CATL's cells and charges in 5 minutes. Whereas Tesla's Model S can be charged in 30 minutes using a DC fast charger.
And the Xiamoi EV is also cheaper than Tesla's as well.
For more see the company's website
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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Scorched earf : Look at her arc fund. Match that to the S&P. Get back with me. She has a terrible record.
72734102 Scorched earf : Kathy Woods knows some inside money maker coming big for Tesla! Is it FSD that Tesla Rules! Or is it another Major Money Maker for Tesla? Because Tesla has Many WAYS to Sell many Products for money! Like AI battery storage! Neourolink! Tesla is way More than just EV sales! Yet they REMAiN Number One in EV Sales! We will buy way more while low to value.
Benson_Luo : Those who are bullish and bearish will always lose fiercely. Let's take a look at next year's results
Jessica Amir OP Scorched earf : The market exists as we have traders and investors. Everyone has a different strategy. Well done to those 'traders' who traded her ETF and do trade it, as it's so liquid. There is always a market. Shorting, going long. And on so many different time lines.