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Tesla Daily: Tesla News & Analysis

Media Surprised by Tesla Registrations Despite Shutdown (06.17.20)

Tesla Daily: Tesla News & Analysis

Rob Maurer

Tech News, Technology, News

4.81.1K Ratings

🗓️ 18 June 2020

⏱️ 6 minutes

🧾️ Download transcript

Summary

➤ The Wall St. Journal reports on Tesla registration numbers in the US for April and May leading to a spiral of negative headlines on the numbers
➤ TheStreet.com article discussing the news: https://www.thestreet.com/investing/tesla-registration-declines-california
➤ Lyft announces intent to become an all-electric platform by 2030

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Ludicrous producer Fred Hassen
Executive producer Rish Singh
Executive producer Jeremy Cooke
Executive producer Nick Wood
Executive producer Troy Cherasaro
Executive producer Bradford Ferguson
Executive producer Andre Kent
Executive producer Bryce Langlotz
Editing assistance by Jasem Ashkanani
Music by Evan Schaeffer

Disclosure: Rob Maurer is long TSLA stock & derivatives

Transcript

Click on a timestamp to play from that location

0:00.0

Hey, everybody Rob Maower here and today we are talking about a number of different reports on Tesla's registrations in the United States in the months of April and May.

0:14.6

Tesla stock, despite some of these reports, finished the day up 1% to $991.79 cents, that compared to the

0:21.3

NASDAQ up 0.2%.

0:23.4

All right, so as much as I would love to skip this topic because I think a lot of us

0:26.4

know where this is heading.

0:27.8

Most of the Tesla headlines today are related to a Wall Street journal article published this morning titled,

0:33.2

quote, Tesla registrations plunge in California data tracker says, end quote.

0:37.6

Then leading off the article with quote, registrations of newly purchased

0:41.1

Tesla Inc vehicles plunged in the critical California market over the past two months

0:44.9

according to new data underlining the challenge chief executive

0:48.4

Elon Musk faces to keep investor enthusiasm that has helped propel the

0:52.1

company's share price."

0:53.2

The Wall Street Journal cites data from Dominion Enterprises, which apparently tracks

0:58.0

registrations in 24 states that make up about 65% of the U.S. auto market, and in those 24 states they say that Tesla

1:05.0

registrations declined 33% to 14,151 vehicles during the first two months

1:10.7

of Q2. The media then seemed to go full-sh shocked Pikachu mode and write a whole bunch of

1:15.2

articles about this highlighting Tesla's quote unquote plunging registrations.

1:19.9

So I thought I'd have a little bit of fun with that with the thumbnail today. Apologies for that.

1:23.4

But the point here is that this should not be surprising at all.

1:26.4

People seem to have forgotten that Tesla had their factory shutdown for seven weeks from

1:29.8

late March to early May.

1:31.3

As we know, Tesla is somewhat unique in that their registration or sales

...

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