Ford (NYSE: F) And General Motors (NYSE: GM) Disappoint With -17% And -20% Q1 2022 Car Sales Compared To Tesla’s (NASDAQ: TSLA) Industry Leading +68% Gain With 310,000 Vehicles In The New Year; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees The Trend To Greater Electric Car Sales And Ma-jor EV Charging Station Opportunity
By percentage, electric car maker Tesla (NASDAQ: TSLA) led the industry with 68% higher sales/deliveries of its vehicles — 310,000 to be precise — in Q1 2022. By comparison, Ford (NYSE: F) And General Motors (NYSE: GM) disappointed with -17% And -20% declines in Q1 vehicle sales. In actual numbers, Ford (NYSE: F) still dwarfed Tesla with 432,000 vehicles sold in the first quarter. For the full year 2022, analysts predict Tesla will deliver 1.5 million cars. Tesla is forecasting a 50% jump in its sales for 2022 without any new models. It is closing on sales/deliveries on backed-up car orders. Solar Integrated Roofing Corp. (OTC PINK: SIRC) sees the trend to greater electric car sales by percentage and anticipates a major EV Charging Station opportunity in the future.
stockmarketpress.com features specialized coverage of related stocks in the solar, roofing, EV charging stations and battery charging energy industry such as Solar Integrated Roofing Corp. (OTC PINK: SIRC), Sunrun, Inc. (NASDAQ: RUN), Blink Charging Co. (NASDAQ: BLNK), Tesla, Inc. (NASDAQ: TSLA), GM (NYSE: GM), ChargePoint (NYSE: CHPT), EVgo (NASDAQ: EVGO), SolarEdge Technologies, Inc. (NASDAQ: SEDG), First Solar, Inc. (NASDAQ: FSLR), SunPower (NASDAQ: SPWR), Gibraltar Industries, Inc. (NASDAQ: ROCK), Spartan Acquisition Corp. II (NYSE: SPRQ). and Canadian Solar Inc. (NASDAQ: CSIQ).
Ford (NYSE: F) And General Motors (NYSE: GM) Disappoint With -17% And -20% Q1 2022 Car Deliveries Compared To Tesla’s (NASDAQ: TSLA) Industry Leading +68% Gain With 310,000 Vehicles In The New Year; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees The Trend To Greater Electric Car Sales And Major EV Charging Station Opportunity
The Wall Street Journal also stressed yesterday that Google searches of electric vehicles have surged in the past year, especially as gasoline energy prices have spiked. Consumers are now interested in learning more about electric cars — and that bodes well for future sales.
To SIRC, it means a bullish view of its competitive entry in the EV Charging Station business. Through its PLEMCo., subsidiary, SIRC is a player in the charging station industry. It is an applicant for $80 million in federal government grants to help build a nationwide network of EV Charging Stations.
SIRC has signed an LOI to acquire three complementary LA-based companies in the EV Charging Station business, SIRC said. Additionally, SIRC has applied to FINRA to change its corporate name to SolarEV, reflecting its commitment to its core businesses — solar system installations and EV Charging Station installations.
As the car industry in general is forecasting a 16% drop in car sales for Q1 2022, Tesla (NASDAQ: TSLA) has made good on its word and delivered 68% more EV cars/trucks in Q1 2022 or 310,000. To Solar Integrated Roofing Corp. (OTC PINK: SIRC), the Q1 2022 EV delivery increase news reinforces its already bullish stance on the EV Charging Station business. SIRC plans name change to SolarEV, reflecting its renewed focus on electric cars.
SIRC is aggressively focused on the EV Charging Station industry. Like other corporations, SIRC is watching the exciting sales, market share and profit performance of Tesla (NASDAQ: TSLA) with a keen eye on the EV Charging Station aftermarket that offers sweet profit margins. Although Tesla’s chargers are proprietary to Tesla vehicles only, PLEMCo., would benefit by charging vehicles for other brands, including: General Motors (NYSE: GM), Ford (NYSE: F), Toyota (NYSE: TM) plus other domestic brands and off-shore OEM car companies. This includes newcomer public company Rivian (NASDAQ: RIVN) and its large equity owners Ford (NYSE: F) and Amazon.
A Tesla record quarterly profit is anticipated to be announced in a few weeks when the Company reports its financials for Q1 2022. They, too, are expected to be record breaking, Wall Street analysts predict. Ford (NYSE: F) And General Motors (NYSE: GM) Disappoint With -17% And -20% Q1 2022 Car Sales Compared To Tesla’s (NASDAQ: TSLA) Industry Leading +68% Gain With 310,000 Vehicles In The New Year; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees The Trend To Greater Electric Car Sales And Major EV Charging Station Opportunity.
Despite 30% price hikes across the board, analysts see Tesla sales reaching 1.5 million electric cars and SUVs this year. The pattern for Tesla has been deliveries of more EVs each consecutive forward quarter. Wall Street expects that to continue.
The largest global plant producing Tesla branded EVs is in Shanghai, China. Last week, Tesla opened its first plant in Germany — capable of producing 500,000 vehicles annually when reaching full capacity — and it plans to open its second plant in Austin, Texas on Thursday.
Tesla filed reports that its Q1 2022 deliveries were: 295,324 in Model 3 sedans and Model Y compact sport utility vehicles. Model S and Model X vehicle deliveries totaled 14,724. It manufactured 305,407 vehicles in the quarter. The disparity between deliveries and production of vehicles is normally due to a back-log in actual deliveries. It is not uncommon for some Tesla buyers to wait 10 months or longer for their new vehicles to arrive.
Tesla delivered a whopping 87% increase or 936,000 more new cars last year. In 2022, it will focus on delivering already-ordered new cars, rather than debuting new models. Ford (NYSE: F) And General Motors (NYSE: GM) Disappoint With -17% And -20% Q1 2022 Car Sales Compared To Tesla’s (NASDAQ: TSLA) Industry Leading +68% Gain With 310,000 Vehicles In The New Year; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees The Trend To Greater Electric Car Sales And Major EV Charging Station Opportunity.
Further, OEM car makers are watching as Tesla (NASDAQ: TSLA) set new records for efficiency. It reported a cost efficiency figure of 29.3% last year vs. 25.6%. This is a closely watch figure in the automotive industry and reflects a no-fat industrial performance in the face of supply chain shortages and delays. Kudos to Tesla.
Tesla (NASDAQ: TSLA) is raising the level of awareness of electric cars among investors and competitors. SIRC and its PLEMCo., subsidiary are hoping that the coat-tails of Tesla extend to their ownEV Charging Station performance in 2022 and beyond.
SIRC is an alternative energy company with its core businesses in solar and roofing now. But it’s future could be even stronger if electric vehicles take off as researchers predict. The EV Charging Station aftermarket looms lucrative. As does the potential for future alliances which pairs SIRC and PLEMCo., with OEM car makers, tire outlets, convenience stores and more.
SIRC is a proponent of an eco-system of green energy. The EV Charging Station sector is an important space for SIRC, in addition to its roofing, solar and rechargeable solar battery businesses.
Ford (NYSE: F) And General Motors (NYSE: GM) Disappoint With -17% And -20% Q1 2022 Car Sales Compared To Tesla’s (NASDAQ: TSLA) Industry Leading +68% Gain With 310,000 Vehicles In The New Year; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees The Trend To Greater Electric Car Sales And Major EV Charging Station Opportunity
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
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