The three major indexes collectively opened lower, and the Dow fell by more than 440 points! Blockbuster data was announced, Tesla plummeted! The market value evaporated by 229.9 billion yuan
Editor: Zhang Jinhe
On the evening of April 2, Beijing time, the three major U.S. stock indexes collectively opened lower, as of press time, the S&P 500 index fell 1.01%, the Dow fell 445 points, or 1.13%, and the Nasdaq fell 1.51%.
Most of the new energy vehicle stocks fell, Tesla once fell more than 6%, fell 5.70% as of press time, and the market value evaporated by 31.786 billion US dollars (about 229.983 billion yuan); the company's first-quarter delivery volume fell short of expectations; Weilai fell about 4%, and Xpeng Motors fell about 3%. Semiconductor stocks fell, with AMD falling about 2%.
Big tech stocks fell, with Nvidia down 2.7%, Amazon down 1.07%, Google C down 1.91%, Microsoft down 1.11%, Meta down 0.64%, and Apple down 0.62%.
On Tuesday, Tesla released first-quarter delivery data, with 386,810 deliveries in the first quarter, a figure far below analysts' average estimate of 449,080 vehicles and the first year-on-year decline since the pandemic. In the first quarter, 433371 vehicles were produced, which was also 452976 less than the market estimate.
Deliveries of the Model 3/Y, the main model, were 369783 units, down 10% year-on-year, to 426,940 units, and production was 412376 units, also lower than the estimated 439194 units.
Tesla expanded its product line late last year to launch the Cybertruck with a stainless steel case in the United States, but the company did not disclose how many Cybertrucks it produced and delivered.
Tesla also doesn't report quarterly car sales by region, and the U.S. and China have long been its largest markets. The company manufactures the Model S, X, 3 and Y in Fremont, California, the Model 3 and Y in Shanghai, and it also manufactures the Model Y at its facilities outside of Austin and Berlin. The Model Y Sport Utility Vehicle and Model 3 Sedan accounted for 96 percent of deliveries in the fourth quarter.
On April 1, Tesla's official website in China showed that the price of the Model Y was raised to 263,900 yuan, the price of the Model Y long-range version was raised to 304,900 yuan, and the price of the Model Y high-performance version was raised to 368,900 yuan, with a price increase of 5,000 yuan.
On January 25 this year, Tesla released its financial report showing that last year's revenue was 96.773 billion US dollars, a year-on-year increase of 18.79%, the net profit attributable to ordinary shareholders was 14.997 billion US dollars, a year-on-year increase of 19%, and the non-GAAP net profit attributable to ordinary shareholders was 10.882 billion US dollars, a year-on-year decrease of 23%, and Tesla experienced the first annual profit decline since 2017. Goldman Sachs analysts have said that the main headwinds facing Tesla include a larger-than-expected drop in car prices, intensified competition for electric vehicles, and delays in products and features such as FSD and third-generation platforms. As a result, while the company has long-term growth potential, it faces significant risks in the short term.
Recently, due to the sluggish market demand for electric vehicles, Wall Street banks have continuously revised Tesla's delivery expectations for the first quarter of this year. Previously, Da Mo lowered its Q1 forecast from 469,400 to 425,000 units. Now, even Tesla's "die-hard fans" can't bear it, thinking that Q1 will be disappointing.
As we all know, Dan Ives, a well-known strategist at the American investment bank Wedbush, has long been bullish on Tesla, and he lowered Tesla's stock price target from 315 to 300 in his latest report, while calling Q1 a "nightmare" for Tesla. However, the analyst said that he remains bullish on Tesla in the long term, despite the fact that "near-term demand clouds are forming".
"Chinese demand is still very weak, and Tesla's deliveries to China this year will only be 2 million, which is lower than previously expected, and may decline by 3%~4% every year thereafter. Dan Ives believes Tesla is in the middle of "two waves of growth," but stresses that investors' patience is starting to get weaker. However, Dan Ives remains "highly confident" in Tesla's FSD and its artificial intelligence (AI) software growth, but admits that "the challenges it faces are leading to a bleak near-term outlook".
The National Business Daily is a synthesis of public information