2019 Shareholder meeting.
My notes:
- Demand: Quarter to date, orders for S/X/3 far outpace production. 90% of orders are coming from non-reservation-holders.
- “Decent shot” of a record Q2 “on every level”
- Model 3 is the Best-Selling car by Revenue of Any Type in the U.S. — beating Honda Accord and Civic, Toyota Camry and Corolla, and Nissan Altima. Who imagined this would happen with an EV?
- Model 3 is the 4th best selling car by sales in the U.S. In its class, it outsells the Audi A4, the Mercedes C Class, the BMW 3 series, and the Lexus ES —- combined!
- 63% of trade-ins for the Model 3 are non-premium cars. People are trading up to get into this car.
- Model 3 is the most energy-efficient car in the world.
- No EV from another automaker has exceeded the range of the 2012 Model S.
- It won’t be long until Tesla has a 400-mile-range car
- Market for the Model Y is about 2.5 times that of the Model 3.
- “We currently can sell as many cars as we can make,” so no need for advertising yet.
- Not a fan of advertising. But putting all the usual rebuttal arguments together on one page is a good idea.
- Practice ride-share app using human drivers? “Makes sense. We’ll probably try it.”
- Giga 3 China: stamping, paint, and battery module lines are being installed.
- “We may get into mining a little bit,” for battery ingredients.
- Decision on European gigafactory likely by the end of this year.
- Sales are good everywhere that: a Service Center is reasonably close, Superchargers are on every route you’d like to take, financing is available, and pricing is competitive.
- Cyberpunk pickup truck reveal this summer. Semi production end of next year. New production is dependent on increasing battery production.
- Battery/Powertrain Investor Day is in the works
- Insurance: small acquisition to complete, and some software to write.
- Production vs. profitability: we could slow down and be more profitable, but we want to accelerate the adoption of sustainable transport. Last year we doubled our fleet. This year we will increase it by 60 to 80%.
Teslarati’s fun Live Blog:
Tesla (TSLA) 2019 Annual Shareholder Meeting: Live blog
https://www.teslarati.com/tesla-tsla-2019-annual-shareholder-meeting-livestream-updates/Watch here:
https://m.youtube.com/watch?feature=youtu.be&v=Va5i42D13cI#