5/18/2023 On 5/16/2023 Tesla conducted their Annual Shareholder meeting. Major takeaways - JB Straubel, One of Tesla's Founders, joined the board. - A very positive vibe followed the Shareholder vote. - Musk accepted a suggestion to start advertising. - Tesla is working on 2 new major products. - Cybertruck launch and deliveries will start this year. - Model Y will be the No. 1 sold Model in the world this year with over 1.1m units worldwide. - Tesla is hiring, not firing, expanding, growing, 40%+ deliveries, 20%+ revenue in 2023. - Musk anticipates 12-month macro pain to the entire market before recovery hits. On the ballet were several new board nominations and some minority Shareholder attempts to undermine the CEO Elon Musk and his Control. As expected most shareholders sided with management on major issues. The vote was followed by a cheerful, positive, supportive crowd. The result... Elon Musk randomly accepts a suggestion by a famous Tesla investor and Youtuber "Meet Kevin" for Tesla to start Advertising and for an interview from another random Youtuber. This advertising debate among Tesla Investor has gone on for a while now, Especially since the price cuts started. Some think that Advertising Tesla's achievements, benefits, advantages, features, safety, technology, performance, and now Low prices could increase demand and therefore reduce retail price volatility. I recently posted about the amazing discount on Model Y especially right now and the fact that most people are not aware at all. Model Y is down from $66k 6 months ago to $43k after the rebate for the same specs or even $40k after the rebate for slightly lower specs. Also, responding to F.U.D and misinformation widely amplified about Tesla, the Cars, and FSD, will reduce concerns people might have which are preventing them from buying a Tesla. The main reasons why Tesla never advertised:
They never needed to. Demand always exceeded Supply.
Tesla's end goal is to reduce prices, so it does not necessarily see price cuts as a problem.
Tesla dissolved their PR department in 2020, pretty much disengaging from Media almost altogether. Maybe this is a sign of a comeback.
What else was positive?
- 2 new products are being designed right now, which should reach 5m production annually combined, probably by 2030, which is 25% of Tesla's 2030 goal. - Musk predicts Cybertruck will reach 250k, maybe 500k at max production in a few years. This is much higher than Adam Jona's prediction of 50k-100k per year. However, compared to the 20m target annual production in 2030, this is pretty negligent, but still a serious 25% of the current US pickup market, maybe only 20% of the 2030 US pickup market. - Musk confirmed again that Cybertruck will be launched later this year and Deliveries will begin this year as well. - Model Y is already the most sold car in some markets and should end the year as the Most sold Model Worldwide, more than the Toyota Corolla and Rav4. - Although Musk is gloomy about the overall Economy in the next 12 months, He is very excited about the Financial stability, strength, and potential of Tesla exiting the curve. #Tesla #TSLA #Cybertruck #ModelY
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