The controversial CEO, who purchased Twitter late final 12 months, stated that manufacturing of the Cybertruck pickup won’t considerably contribute to the automaker’s numbers this 12 months. The authentic launch was promised for late 2021.
“We do expect production to start sometime this summer,” Musk stated in response to a query about Tesla assembly its revised mid-2023 launch date. “But I always try and downplay the start of production because start of production is always very slow.”
Rather, Musk stated, it is higher to give attention to quantity manufacturing, which can come subsequent 12 months. He added that the wildly styled pickup will probably be a particular product with a brand new technology of {hardware} for semi-autonomous driving.
Because of delays, the Cybertuck will come to market after rivals such because the Rivian R1T from late 2021, the Ford F-150 Lightning from final 12 months and the Chevrolet Silverado EV, coming within the spring.
“Tesla has made false promises about the Cybertruck before, but if the company has ever needed to ramp up a timeline for an anticipated product, it’s now,” stated Jessica Caldwell, govt director of insights at Edmunds. “The Cybertruck almost seems like old news since the company has been talking about it for so long,” Caldwell stated. Musk first offered the pickup in 2019.
Caldwell stated Tesla will proceed to depend on its Model 3 compact sedan, Model Y compact crossover and maybe a future mainstream car for the majority of its manufacturing numbers, for the reason that Cybertruck doubtless will not be a mass-market providing.
Tesla additionally launched its fourth-quarter and full-year monetary outcomes after the market shut Wednesday.
Net revenue for the quarter was $3.69 billion, or $1.07 per share, in contrast with $2.32 billion, or 68 cents per share, a 12 months earlier.
Tesla shares rose 5.5 p.c to $152.39 in after-hours buying and selling.
The EV chief beat analysts’ expectations for income whilst its margin per car slipped. Analysts are watching gross margin on the automaker given this month’s value cuts.
The firm stated income was $24.32 billion for the three months ended Dec. 31, in contrast with analysts’ common estimate of $24.16 billion, in accordance information from Reuters. Tesla bought 405,278 autos within the fourth quarter.
Tesla stated its automotive operation margin was 25.9 p.c within the fourth quarter, the bottom in two years.
Source: www.autonews.com
