ArcticCrusher Posted July 3, 2023 Share Posted July 3, 2023 8 minutes ago, Deephaven said: 1st off, Tesla makes shit. 2nd if you drive a Nissan Micra you should keep your mouth shut. What do you drive again, oh gay one. Quote Link to comment Share on other sites More sharing options...
XCR1250 Posted July 3, 2023 Author Share Posted July 3, 2023 Rivian, Lucid and Fisker 'may go bankrupt' as Tesla continues to cut prices - Global Equities Research Vlad SchepkovStock Markets Published Apr 19, 2023 09:42AM ET Updated Apr 19, 2023 10:01AM ET 11 © Reuters Rivian (RIVN), Lucid (LCID) and Fisker (FSR) 'may go bankrupt' as Tesla (TSLA) continues to cut prices - Trip Chowdhry TSLA +5.87% FSR +1.23% LCID +5.44% RIVN +15.22% MBGAF -0.50% POAHY -0.01% By Vlad Schepkov Global Equities Research has shared its rather grim outlook for the Electric Vehicle (EV) industry, after Tesla (NASDAQ:TSLA) announced yet another round of price cuts earlier today. In their latest note, the analysts warned that with tech layoffs continuing and "accelerating recession," the "EV and automotive sales will continue to remain weak." They noted that despite today's cuts - TSLA reduced the pricing range on Model 3 to $40K-$52K from $42K-53K, and on Model Y to $47K-54K from $50K-$57K - the vehicles are still "priced out of market," and they believe "more price cuts are needed in this brutal recession." As such, they warned that Rivian Automotive Inc (NASDAQ:RIVN), Lucid Group Inc (NASDAQ:LCID), Fisker Inc (NYSE:FSR) "may go bankrupt," as the companies simply won't be able to stay competitive given "the scale and operating efficiencies of TSLA." The analyst also sees plummeting sales for luxurious EVs sold by Porsche (OTC:POAHY) and Mercedes (OTC:MBGAF), noting those are "priced out of the market." Quote Link to comment Share on other sites More sharing options...
XCR1250 Posted July 3, 2023 Author Share Posted July 3, 2023 Rivian Lost $6.8 Billion Last Year as Production Fell Short The maker of electric trucks said it expected to double production in 2023 as the supply of parts became more reliable. Give this article Rivian, a maker of electric trucks, said on Tuesday that it lost $6.8 billion in 2022.Credit...Bryan Derballa for The New York Times By Neal E. Boudette Feb. 28, 2023 Rivian, a maker of electric trucks, said on Tuesday that it lost $1.7 billion in the final three months of last year as it struggled with production difficulties. The loss brings the company’s total losses for 2022 to $6.8 billion and highlights the troubles that once-promising start-ups are having gaining ground on Tesla, which dominates the electric vehicle business. Last week, another young automaker, Lucid Motors, said that it lost $2.6 billion in 2022. Rivian said the supply chain problems that dogged it last year would continue this year but become easier to anticipate. The company said it expected to produce 50,000 vehicles this year, roughly twice as many as it did in 2022. In a conference call, Rivian’s chief executive, R.J. Scaringe, said the company was working to reduce costs, especially now that Tesla had cut the prices of its cars by as much as 20 percent. Driving costs down “is our core challenge today,” Mr. Scaringe said. He added that demand remained “robust,” noting that the company had a backlog of orders that it expected to last into 2024. Rivian brought in $663 million in revenue, and delivered 8,054 vehicles, in the fourth quarter of 2022. On a full-year basis, it had revenue of $1.7 billion, and delivered 20,332 vehicles, in 2022. It produced 24,337 vehicles last year, just short of its reduced goal of 25,000. The company said it had $11.6 billion in cash and cash equivalents at the end of December, down from $18.1 billion a year earlier. Rivian, which is based in Irvine, Calif., makes an electric pickup truck, a sport utility vehicle and a delivery van. The company has attracted several deep-pocketed investors, including Amazon, which has placed a large order for the manufacturer’s vans. Ford Motor also invested in the company but ultimately decided not to collaborate with Rivian and sold most of its stock. The company’s inability to quickly increase production at its plant in Normal, Ill., has limited sales, and its stock price has plunged. On Tuesday, it was trading around $19, down from around $47 a year earlier. The company’s share price was about 8 percent lower in extended trading after the release of its earnings report. Rivian said it expected to report a loss of $4.3 billion in 2023 before taking into account interest, tax and other expenses. Neal E. Boudette is based in Michigan and has been covering the auto industry for two decades. He joined The New York Times in 2016 after more than 15 years at The Wall Street Journal. @nealboudette Quote Link to comment Share on other sites More sharing options...
X2700 Posted July 3, 2023 Share Posted July 3, 2023 Not sure what’s up with rivian but every week I see more of them in Rochester area. 1 Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted July 3, 2023 Gold Member Share Posted July 3, 2023 2 minutes ago, X2700 said: Not sure what’s up with rivian but every week I see more of them in Rochester area. They had a great quarter beating expectations as they ramp up production more then expected. Quote Link to comment Share on other sites More sharing options...
Snake Posted July 3, 2023 Share Posted July 3, 2023 6 Quote Link to comment Share on other sites More sharing options...
snowstorm Posted July 4, 2023 Share Posted July 4, 2023 i was in europe for 10 days in may. for another cruise. got on the boat in bordeaux france. the place they had a peaceful protest by the looks of the cars piled up that were burned along with the tires they burned on the lawn of a goverment building. we were ashore every day all told between cars and motor cycles i counted about 20 that were electric. there was a tesla dealer that had maybe 50. in france there are no solarfarms none that i saw. when i was in the wheelhouse talking to the crew i did see a offshore wind mill farm on radar he pulled it up on the plotter it was quite large. in Belgium the wind mills are everwhere but no solar. the port we tied up in. there big export imp[ort was cars 2.5 million a yr along with equipment. thousands of case new holland and some cat machines. and there was a russian oil tanker docked in france. the world runs on diesel fuel look around besides in your back yard. its not going to change for a long time really long time. half the cars over there are diesel and a lot of cars are manual trans. one of the crew in the wheelhouse is from serbia i asked what he thought of the war in ukraine he said its just the west making money again 1 Quote Link to comment Share on other sites More sharing options...
Gold Member 800renegaderider Posted July 5, 2023 Gold Member Share Posted July 5, 2023 On 7/3/2023 at 1:55 AM, toslow said: Probably around 350 to 400 good chance i could drive across canada on 400 bucks I’ve driven my versa to Florida 3 times now and it was less than 80 bucks one way back when gas was cheap. Todays prices to go 2700 miles $230 bucks for a car that cost 16k new today no stupid ev will come close to being that cheap and I’ve proven it on here with all the numbers before. The ev lovers always like to conveniently forgot to factor in that 30-50k they spent on solar panels too for their “free” fuel. Quote Link to comment Share on other sites More sharing options...
Rod Posted July 5, 2023 Share Posted July 5, 2023 In California, where electric vehicles make the most sense, if you charge your EV at anytime other than super off peak hours, it’s cheaper to drive a gas car Quote Link to comment Share on other sites More sharing options...
spin_dry Posted July 5, 2023 Share Posted July 5, 2023 EV's aren't going anywhere. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Steve753 Posted July 5, 2023 Platinum Contributing Member Share Posted July 5, 2023 9 minutes ago, ACE said: In California, where electric vehicles make the most sense, if you charge your EV at anytime other than super off peak hours, it’s cheaper to drive a gas car Depends if you got a Tesla with free charging or not. Quote Link to comment Share on other sites More sharing options...
toslow Posted July 5, 2023 Share Posted July 5, 2023 9 minutes ago, spin_dry said: EV's aren't going anywhere. I agree there is a market for them, but to think you’re saving money and the planet by buying one is a false promise made to themselves Quote Link to comment Share on other sites More sharing options...
Deephaven Posted July 5, 2023 Share Posted July 5, 2023 2 hours ago, toslow said: I agree there is a market for them, but to think you’re saving money and the planet by buying one is a false promise made to themselves Same can be said about having a second vehicle for gas mileage. Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted July 5, 2023 Gold Member Share Posted July 5, 2023 (edited) Easy little road trip. 6 hours and 40 minutes total including charge time. 422 miles. 17 minute total in 2 stops. $15.13 in cost for super charging. In at 1st stop out at 1st stop in at 2nd stop out at 2nd stop in at destination Edited July 5, 2023 by BOHICA 1 Quote Link to comment Share on other sites More sharing options...
toslow Posted July 5, 2023 Share Posted July 5, 2023 (edited) For that 15 bucks you spent i could go that distance and not have to stop so we are averaging about the same distance dollar wise, only difference is i don’t have to stop Edited July 5, 2023 by toslow 1 Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted July 5, 2023 Gold Member Share Posted July 5, 2023 (edited) 31 minutes ago, toslow said: For that 15 bucks you spent i could go that distance and not have to stop You must not have a healthy inside or a diet if you don’t have to stop and piss in 6-7 hours. nissan Mirca 9 gallon tank. 35 mpg highway as listed by owners on fuelly and also Nissan Canada website you are stopping for fuel no matter what you tell yourself but let’s say you don’t have to stop it will cost substantially more as fuel prices at my destination….. Edited July 5, 2023 by BOHICA Quote Link to comment Share on other sites More sharing options...
Deephaven Posted July 5, 2023 Share Posted July 5, 2023 6 hours nonstop in a Micra, that sounds brutal. Not sure why anyone would punish themselves doing that. Quote Link to comment Share on other sites More sharing options...
Snake Posted July 5, 2023 Share Posted July 5, 2023 Can you fucking imagine photographing your dash every time you stop? I imagine a gaggle at a hotel bar comparing mileage and electric rates over a few Bud Lights. And people call Trump a cult... 1 Quote Link to comment Share on other sites More sharing options...
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