Offbeat Why Tesla has weathered the corona crisis better than other automakers

08:25  13 july  2020
08:25  13 july  2020 Source:   finanzen.net

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The coronavirus pandemic has crushed the global economy, and a recession is inevitable in the U.S. as the Federal Reserve warns the second quarter will be

More than 33 million people have filed for unemployment since March, and automobiles are one of the first things to take a hit when there is a constriction to consumer confidence. But some experts say Tesla is better positioned to survive this economic downturn than other U.S. automakers .

The COVID 19 pandemic has hit many industries hard. Car manufacturers, in particular, suffered from production downtimes and plant closings and are likely to feel the effects of the crisis for a longer period of time. But Tesla seems to have coped with the developments better than industry giants like GM and Volkswagen.

DANIEL ROLAND/AFP/Getty Images © Provided by Finanz.net GmbH DANIEL ROLAND / AFP / Getty Images

• Tesla is coming through the corona crisis better than many other car manufacturers

• Profiting from China business

• Investors celebrate Musk

The pandemic has brought the companies out of the Automotive sector shaken vigorously: The largest US automaker General Motors suffered an 88 percent drop in profits in the opening quarter , , the number 2 in the US market, Ford , expects to lose $ 5 billion in the first quarter . And also the German car makers got the closure of their factories, the associated production losses and the reluctance to buy on the market - VW expects "very bad second quarter" , BMW wants to avoid red figures for the whole year , will do much worse than 2019.

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Several major automakers are making big bets on electric vehicles. A few vehicles have been released so far, but sales indicate any one of them has failed to make a Why Tesla Is Better Positioned To Survive Than Other Automakers - Продолжительность: 17:27 CNBC 932 169 просмотров.

Why I believe Tesla has a fair chance to achieve the guidance of 500k vehicles in 2020, an opportunity if all goes well to manage sequential growth in Q2 and all of that in a situation where other automakers will shrink.

Tesla stands out positively

But the US electrical engineer Tesla seems to be coming through the crisis comparatively well: Although the Elon Musk group had to cope with a decline in sales in the second quarter after The production facilities had been shut down for weeks because of the pandemic, but the demand for Tesla electric cars was apparently unbroken even during the worst phase.

In the second quarter, the company sold 90,650 vehicles to the people of , selling significantly more vehicles than analysts had expected . Despite the Corona crisis, the number of deliveries only dropped by a moderate five percent - an astonishing achievement against the background of the pandemic, which apparently surprised many experts.

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The coronavirus has already bought Tesla time on the EV front. General Motors Company (NYSE: GM) has delayed some SUV, truck and sports car launches, and The analysts expect additional benefits in the autonomous vehicle market, as automakers face a choice between EV projects and AV projects.

The fact that Tesla stock is worth more than Ford stock is a sign that Wall Street envisions very We don't know if something like this is in the cards for Ford and other conventional automakers , but it Its roots in Silicon Valley mean that the software on its cars is likely to be better than software produced

China business, zeitgeist and an unorthodox management

One of the reasons why Tesla did significantly better in the quarter than the ranks of traditional car manufacturers, which in some cases sold 30 percent fewer vehicles than before the crisis, was the China- Business. At a time when production in the US factories largely came to a standstill, Tesla was already starting up its new China factory in Shanghai, where the Model 3 mass-market model is being produced. The new facility enables Tesla to bypass import duties into China and serve the market locally, which supported sales.

Added to this is the fact that Tesla hits the zeitgeist with its focus on electric vehicles. More and more people are turning to alternative forms of drive, Tesla as a pioneer in this field, benefits particularly from this. Tesla is not only leading the way in research, the prospect of entering battery production has also convinced investors of the company's future viability.

"Tesla Short Shorts": Elon Musk sells hot pants

 1/2 IMAGES © Tesla 2/2 IMAGES © Tesla © dpa Elon Musk is currently laughing well and is making fun of shortsellers. Elon Musk not only sells vehicles but also satin shorts. Sounds bizarre - but it's not a joke. Elon Musk is best known as a visionary who focuses on (new) technologies in his business ventures. Now, musically, Musk also sells satin shorts. The Spiegel reports about it.

The auto industry has been hit particularly hard as car sales tank. But here is why some experts say that Tesla is better off than other U.S Nigeria’s National Assembly has approved the .5 billion external loan request of the executive arm of government to fund the country's budget deficit.

Luckily, most automakers got on the train pretty quickly, and started releasing their own take on the EV. RELATED: We'd Rather Have These EVs Than A Tesla . The Taycan was one of the most It has a long, athletic, slender profile, and the influences from the 911 actually work very well this time

A third reason that Tesla steers through the corona crisis with only slight injuries is probably the Tesla boss Elon Musk. The billionaire manager is perceived as ambivalent on the market, but his largely unorthodox way of doing business, which has even caused him trouble with the US stock exchange regulator SEC in the meantime, is celebrated by fans and investors.

It also happens that the Tesla share reached new records just a few months after the big crash on the stock market and has even replaced Toyota as the most valuable listed car manufacturer. Many investors ignore the fact that Tesla is far from competing in terms of sales with the big players in the industry and the company has so far only been able to report a few profit quarters. Some market players are reminded of the retail giant Amazon , which had spent years expanding its expansion and therefore made no profit, but has since grown into a stock market giant that makes billions of dollars every quarter. A path that Tesla still has to go.

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new annual report: will Musk continue to deliver in the black? .
© dpa Tesla boss Elon Musk. On the stock exchange, the electric car pioneer Tesla is the top star this year - the next annual report of the company is now eagerly awaited by tech billionaire Elon Musk. On Wednesday after the US stock market closes (10 p.m. CEST), Tesla plans to present its results for the past second quarter.

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