00:00Craig, you did a great job setting us up for this print yesterday when we spoke to you.
00:05And we talked about the idea that even though a lot of analysts value this company not necessarily
00:09as a company that sells cars, cars are still really important. So a disappointing quarter
00:15when it comes to, or a disappointing month when it comes to sales, that still has an effect
00:20on Tesla's business, even if it has big ambitions beyond autos.
00:25Yeah, I mean, this is still what pays the bills, right? Everyone is excited about robo-taxis.
00:29They're excited about humanoid robots, but those are still really concepts. And we don't have a
00:36robot actually that Tesla is selling. And it doesn't sound like they're particularly close
00:41if you're following Musk's sort of daily missives on X. The expectations here weren't all that high
00:48and they were trending lower. And so to see them miss by a fairly substantial margin is a big
00:54disappointment. And when you compare what some of the peak quarters have been for Tesla, where they've
00:59come close a couple of times to half a million vehicles in a quarter, this is a really big
01:03letdown relative to those sort of loftier levels.
01:06The company facing a lot of headwinds here in the U.S. regarding EV tax credits and policy changes
01:12and not excitement from this White House when it comes to EVs, but also challenges outside the U.S.
01:17where Elon Musk is not viewed necessarily favorably. And with growing competition from China,
01:22how does Tesla turn itself around before it gets to that point where it doesn't rely on autos to
01:28generate cash? Yeah, it's a really good question. I mean, I think there is some hope that this
01:33cyber cab that is supposed to start production this quarter will be helpful and that it at least is a
01:41new product. I think this is a company that has a bit of a tired lineup. They've changed over the
01:46Model 3
01:46and Model Y, but, you know, they're not all that different from, you know, the way they looked when
01:51they first came out. And so, you know, this two-door smaller car could be interesting to people, but
01:58is it actually ready to be put on roads without a steering wheel or pedals? I think a lot of
02:03regulators are going to have some doubts given the challenges that the company has had with what it
02:09markets as full self-driving. And so, you know, there are, again, all of these hopes as well that the
02:15humanoid robot business has a lot of promise. But, you know, this is still very much a case of, you
02:23know,
02:23approve it in terms of whether or not that's actually going to be a business that analysts can sort of
02:29wrap
02:29their heads around anytime soon.
Comments