Tesla reported deliveries of 336,681 globally in the January to March quarter. The figure was down from sales of 387,000 in the same period a year ago. (A drop of 13%) The decline came despite deep discounts, zero financing and other incentives. Analysts polled by FactSet expected much higher deliveries of 408,000.
On Sunday, BYD announced a new model to take on Tesla. Its Qin L model has a starting price in China of 119,800 yuan, while a basic version of Tesla's Model 3 is priced at 235,500 yuan.
Istanbul’s popular mayor, Ekrem Imamoglu, was taken into custody earlier this week, rattling markets. The lira, Turkish stocks and debt subsequently posted some of the world’s biggest declines.
A new poll shows that 71% of Canadians support banning Tesla sales in the country, while a petition demanding the revocation of Musk's Canadian citizenship has gathered 364,000 signatures—and counting.
It’s interesting how all the people who adored Musk as recently as 3 years ago now say they don’t recognize the guy. I know two such people personally and now I hear that Grimes is shocked, shocked, shocked by his behavior. I have never been a good judge of character but I saw Musk coming 10 years ago. Damn, how dumb can smart people be?
Norway's total car fleet most probably will be fully transitioned to electric by 2042. The duration of the conversion will have been 32 to 35 years. The incentive structures, which make up 2% of the Norwegian national budget, are not present in any other country.
Note that Putin may consider trading 6 million lives for Ukraine to be worth it. This is based on historical perspective. The trade in WWII was 25 million Russians. The maintenance of the Soviet Union cost 40 million Russian lives. For both of these trades the impact on Russia can be superficially seen as positive thus these calculations are considered reasonable. The negatives are buried in opportunity costs which are quite abstract.
Clearly the CEO does not understand the job to be done for Whole Foods. The only reason to shop there is because you feel that you don’t pay enough for groceries. You hire Whole Foods to assuage your guilt.
Trump Social: revenue tumbled 39% year-over-year in the fourth quarter to just $751,500. Accountant questions going concern. Market cap still at 5.26b after today’s 24% drop.
In the US, some 300 banks are at risk of failure due to the commercial real estate problem. $2.7 trillion of bank assets in the aggregate. About 14% of all loans and 44% of office loans appear to be in a “negative equity”. Around one-third of all loans and the majority of office loans may encounter substantial cash flow problems and refinancing challenges. https://www.nber.org/papers/w31970
Between 2021 and 2022, oil use in conventional cars, excluding SUVs, remained roughly the same, but the oil consumption of SUVs globally increased by 500 000 barrels per day, accounting for one-third of the total growth in oil demand.
Spotify total monthly active users hit 602 million in the quarter — a 23% improvement. Premium subscribers at 224 million — a 15% year-over-year jump. Spotify expects subscriber count to increase to 239 million in the first quarter. Q4 net additions of 10 million contributed to record full year net additions of 31 million.