Tesla 3Q23 Earnings, Musk Realism, What Happened to Tesla CFO Kirkhorn?
Hello everyone. We will continue our earnings discussion today with Tesla.
Earlier today, Apple announced an upcoming online event on Monday evening (8 pm ET). I believe this is the first time Apple is holding an 8 pm event. Based on the following images, the Mac will be in the spotlight.
My initial thought was that the 8 pm ET time suggests the event is being held when more people will be watching it on their TV sets at home. This would imply some Apple TV+ announcements to go along with Mac news.
Tesla 3Q23 Earnings
For the past few quarters, there have been an elevated number of questions surrounding the Tesla story. Elon Musk’s decision to slash vehicle pricing was a sign of slowing demand (lower pricing is said to offset higher monthly financing costs). This has put Tesla’s +50% vehicle sales growth (annual) target in jeopardy.
The big takeaway from Tesla’s 3Q23 earnings is that the company’s auto growth story continues to evaporate. Musk thinks the difficult operating environment will continue as long as interest rates stay where they are.
Musk is now saying that Tesla is “hitting law of large numbers situations” as they run out of people who can afford Tesla vehicles. Musk, who for the first time said Tesla will do some limited advertising, doesn’t think advertising will help as Tesla would be informing people of a car that they can’t afford. It’s “a big deal,” he says.
The average cost of a Tesla vehicle was
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