Tesla (NASDAQ: TSLA) Cites Inflation On Raw Materials So It Hikes Prices Thousands Of Dollars On Each Of Its Models — Or Between 3-5% in US And Chi-na — As Inflation Increases 7.9%; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Remains Bullish On The Future Of EV Charging Stations
With inflation hitting its car components and parts, Tesla (NASDAQ: TSLA) is taking thousands of dollars on price hikes on its models, accord to CBS News. Inflation is now seen as hitting 7.9% and Tesla is reacting with significant price increases on its models to compensate. Supply chain components and parts are not impacted by inflation, but many — such as computer chips — are harder to obtain. Solar Integrated Roofing Corp. (OTC PINK: SIRC) remains bullish on the future of EV Charging Stations even as electric cars/trucks are not getting pricier.
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).
Tesla (NASDAQ: TSLA) Cites Inflation On Raw Materials So It Hikes Prices Thousands Of Dollars On Each Of Its Models — Or Between 3-5% in US And China — As Inflation Increases 7.9%; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Remains Bullish On The Future Of EV Charging Stations
The price hikes by Tesla (NASDAQ: TSLA) include:
— Tesla Model X has risen in cost to $114,900, a $10,000 jump
— Tesla has increased its Model S price to $99,990, a $5,000 boost
— Model 3 has received a $3,000 hike to $61,990
— Model Y rose $4,000 to $62,990
Inflation is not the only factor playing here. Also contributing to the price increases are materials such as aluminum, nickel and palladium. The Russian-Ukraine War is also making metal prices more expensive.
Add it all up and every Tesla model has a price increase just as the prior prices of electric cars were seen as an impediment to growth of the eco-savvy vehicles in the marketplace. Used gas-driven cars are 12% higher than last year, making an average price of a new car some $46,404 now.
To SIRC, the electric car activity is seen as a positive for its supporting EV Charging Station industry. In addition to having subsidiary PLEMCo., to install EV Charging Stations, SIRC has recently announced it signed an LOI to acquire three complementary LA-based Ev Charging Station companies. It also said it is refocusing its business plan to concentrate on the EV Charging Station business.
Meanwhile, OEM car/truck manufacturers in the electric vehicle business are throughly imitating Tesla (NASDAQ: TSLA). Electric car OEM firms are planning to follow Tesla’s business model of taking orders at fixed prices directly from consumer-to-factory and then delivering cars using local dealers or pop-up stores. Dealerships don’t sell the cars — they play a small role in delivering them.
Copycat OEM manufacturers can only emulate the efficiency of Tesla — which had record earnings last year of $5.5 billion on sales of $53.8 billion — and it predicts a 50+% higher performance this year. Solar Integrated Roofing Corp. (OTC PINK: SIRC) anticipates Tesla’s positive coat-tails for its EV Charging Station business in 2022.
Further, OEM car makers are watching as Tesla (NASDAQ: TSLA) sets 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. Part of that efficiency is non-dealer sales.
According to The Wall Street Journal, Ford (NYSE: F) is looking at its ‘e’electric car division factory taking orders direct from customers at a fixed price. Dealership would not be involved, except for a minor role in delivering the cars themselves to local buyers. Tesla (NASDAQ: TSLA) Cites Inflation On Raw Materials So It Hikes Prices Thousands Of Dollars On Each Of Its Models — Or Between 3-5% in US And China — As Inflation Increases 7.9%; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Remains Bullish On The Future Of EV Charging Stations.
At General Motors (NYSE: GM), the business strategy will be similar. Today, only the electrified version of its Hummers now will be delivered by dealers only after customers order them direct through GMC’s website.
Stellantis, which offers the electric Jeep model, says it is working on a ‘direct sales’ approach as it delivers vehicles in Europe. It plans to still involve dealers, but doesn’t say precisely how.
Volkswagen management sees direct online customer orders for its electric ID.4 electric sport utility vehicle. There will be no excess inventory available on dealer lots.
Of course, dealers are concerned about being largely cut out of selling (commissions) and delivery process in electric vehicles. Ford (NYSE: F) has roughly 2,500 dealers in the U.S. and some states make it unlawful for a factory in another state to sell directly to customers — locking out the local franchise. This would impact GM and Ford.
Projections say electric cars/trucks will take a larger slice of vehicle sales in the future. That may be Tesla (NASDAQ: TSLA)-like efficient, but it may be illegal for franchises to be treated this way, and cutting out dealer commissions could present an issue in the future.
Meantime, the automotive industry is watching the efficiency of Tesla at the factory level and now the delivery level, too. Teslas sells through its pop-up stores in malls and other high trafficked locations, not dealerships. Tesla (NASDAQ: TSLA) Cites Inflation On Raw Materials So It Hikes Prices Thousands Of Dollars On Each Of Its Models — Or Between 3-5% in US And China — As Inflation Increases 7.9%; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Remains Bullish On The Future Of EV Charging Stations.
SIRC is watching the mind-bending 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, SIRC subsidiary 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.
Consumers may know car brands, but in EV Charging Stations they are not brand savvy — yet. They don’t care who installs them or brands them, they just want fast chargers liberally sprinkled along motorways to relive range anxiety.
At just 4% of the U.S. new car population, electric vehicles are still in their infancy. It remains a wide-open field for car makers a well as EV Charging Station installers. While other automakers exhibited only tepid manufacturing in 2021, Tesla (NASDAQ: TSLA) soared. Its record profit and sales numbers showed that.
SIRC’s PLEMCo., can play a major role in the sweetest profit spot of all — the EV Charging Industry that will support it all. Biden’s $1.2 trillion pending law with incentives of about $7.5 billion for the EV industry cannot on its own force consumer sales. Too many simply want more EV Charging Stations.
That’s great news for Solar Integrated Roofing Corp. (OTC PINK: SIRC) and its PLEMCo. subsidiary.
Tesla (NASDAQ: TSLA) Cites Inflation On Raw Materials So It Hikes Prices Thousands Of Dollars On Each Of Its Models — Or Between 3-5% in US And China — As Inflation Increases 7.9%; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Remains Bullish On The Future Of EV Charging Stations
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
Join Stock Market Press’ newsletter for the latest in IPO, market commentary and company profiles.
Stock Market Press is a financial news company that delivers up to date stock news, introduces private and public companies to a wide audience of investors, consumers, journalists and the general public via social media and a rapidly expanding network.
Contact:
Stock Market Press
110 Wall St.
New York, NY 10005 info@stockmarketpress.com https://twitter.com/PressStock
Safe Harbor Statement:
Statements in this news release may be ”forward-looking statements.” Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Stock Market Press undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
See Stock Market Press disclaimer: https://stockmarketpress.com/disclaimer/ SOURCE: Stock Market Press
