New Record in China, Cybertruck Steering, Texas Expansion, Investigation, Air Force, Lucid (03.28.23)
Tesla Daily: Tesla News & Analysis
Rob Maurer
4.8 • 1.1K Ratings
🗓️ 29 March 2023
⏱️ 11 minutes
🧾️ Download transcript
Summary
➤ China insured vehicles data indicates a record quarter for Tesla
➤ New video shows off Cybertruck’s steering capabilities
➤ Tesla submitted permits for Giga Texas expansion
➤ NHTSA announces another investigation into Tesla
➤ Cox Automotive forecasts record Q1 sales for Tesla in US
➤ Air Force’s chief scientist mentions Tesla’s autonomy developments
➤ EV battery stats from Recurrent
➤ Bloomberg Tesla survey: https://bloom.bg/42LEYd5
➤ Lucid announces layoffs
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Music by Evan Schaeffer
Disclosure: Rob Maurer is long TSLA stock & derivatives
Transcript
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| 0:00.0 | Hey everybody, Rob now we're here and today we are talking about new numbers out of China |
| 0:11.1 | that point to Tesla having a record quarter in the country, also got a couple of updates |
| 0:15.0 | on Cybertruck and Gigatexis, some other research that has been recently published, and more. |
| 0:20.4 | Not a whole lot going on with the stock, Tesla today down 1.4% to close at $189.19 while |
| 0:25.6 | NASDAQ was down 1.5% on the day. As we talked about last week, this morning we did get the consumer |
| 0:31.1 | confidence report, so kind of interesting to check in on that given everything that has happened |
| 0:34.9 | in the banking sector, but consumer confidence actually did increase a little bit, the next |
| 0:39.2 | increasing new 104.2 from 103.4 in February, despite the banking collapses that also happened |
| 0:44.8 | during this period. Consumers inflation expectations, which is something we know Fed Chairman |
| 0:49.1 | Jerome Powell keeps a pretty close eye on, those did increase as well the 12 month expectations |
| 0:53.2 | going from 6.2% last month to 6.3% in most recent survey. So just a couple of data points obviously, |
| 1:00.0 | but those things coming in stronger will lead a little bit more towards the hawkish or higher rate |
| 1:04.4 | type of an environment. Alright, let's move on to China, we do have another week of China |
| 1:08.5 | insured vehicle numbers, this is for the week of March 20th through March 26th over the 12th |
| 1:13.0 | week of the quarter, and during this week there were 15,886 vehicles insured in China, |
| 1:19.1 | this is down a little bit week over week about 18.7000 last week, so first time in the last |
| 1:23.9 | five weeks that we have seen a week over week decline, which might be a little bit disappointing |
| 1:27.9 | since we still have a few days before the end of the quarter, and if all of Tesla's gigashang |
| 1:32.0 | high production right now is going into China, which we seem to have been on a delivery wave, |
| 1:36.2 | so that's a possibility, there should be enough supply for this to push up toward something |
| 1:39.8 | like 20,000 per week maybe even a little bit more, so this does leave an open question on what |
| 1:44.0 | the constraint for a higher number is, and that will influence thinking going forward, |
... |
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