Tesla had more net income than GM and ford in Q1 2022.
Total Q1 vehicle sales:
• GM: 1,427,000 (down -19.5% YoY)
• Ford: 970,000 (down -9% YoY)
• Tesla: 310,048 (up +67.7% YoY)
Total Q1 net income:
• Tesla: $3.3B (+607% YoY)
• GM: $2.9B (-3% YoY)
• Ford: $2.3B (if not including $5.4B loss Rivian)
Ford’s adjusted results excluded a loss of $5.4 billion on the company’s 12% stake in Rivian. Its net loss, including the stake in Rivian, totaled $3.1B.
Ford adjusted net income was $2.3 billion if the Rivian loss is excluded.
Ford’s total revenue, including autos and financial services, falling 5% to $34.5 billion.
Ford shipped 970,000 vehicles in the first quarter, down 9% from a year ago as a continuing global shortage of semiconductors held down the automaker’s January and February production and shipments. In fact, Ford has about 53,000 vehicles mostly complete but waiting for parts.
Tesla had $18.8 billion in revenue in Q1 2022. If Tesla gets to 600,000 cars in Q4 2022 then Tesla will likely pass Ford and GM on quarterly revenue.
Tesla has passed Ford and GM on net income and will soon pass Ford and GM completely on revenue and then on vehicle sales.
UPDATE: Ford just reported Q1 earnings. @Tesla was more profitable than BOTH Ford and GM in Q1 2022.
Ford’s adjusted results excluded a loss of $5.4 billion on the company’s 12% stake in Rivian. Its net loss, including the stake in Rivian, totaled $3.1B, the company said – CNBC https://t.co/ftCMBhLylP
— Sawyer Merritt 📈🚀 (@SawyerMerritt) April 27, 2022
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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LOL
"Abject poverty builds character"
Musk hasn't murdered nearly as many people as Henry Ford or Steve Jobs but give him time
My wallet gets fatter is so much more noble than your wallet gets thinner.
And if someone does get rich, to spend, splurge or invest the money, they will have to spread it around.
Don't think Tesla is going BK overnight.
That has nothing to do with anything, how much does Tesla make per dollar of capitalization. Ford has Lightning F-150 Tesla has nothing in that class.
Hummer EV are so desired ,they resale for twice the retail price ,GM autonomy with Cruise is far ahead of Tesla at this point, who told Ca regulators they were only developing level 2.
Human rights abuses = upholding First Amendment principles? An astounding take.
Seems like people are ignoring Tesla stock doing a nose dive, they will have ugly earnings from China shut down.
GM sells more BEVs in China than Tesla does worldwide,yet GM BEV's in NA will increase faster than Tesla's do ,
GM needs to bump the price of the Hummer EV,as people are flipping them for double.
The 'I don' care what it does to society as long as my wallet gets fatter' crowd just entered the discussion.
Agreed. The world is watching him. How he goes about things will reflect on how people remember him.
If you were anywhere near as smart as Musk, you would just shut up and quietly buy the dip.
These perceived flaws may be what fuels his creativity
Mr. Musk needs to place his attention back unto Tesla and forget the nonsense that is both his temper tantrum and perceived revenge upon Twitter, or Tesla can lose another $100B again this week.
Seems like Tesla may outproduce Ford before 2025 and be much more profitable at that point.
Fat lady is tuning up her pipes, but many people just refuse to or simply can’t hear.
Channel your inner Dandy Don Merideth at the end of Monday night football games.