Tesla’s (NASDAQ: TSLA) Musk Says He’s Working On Plan Part 3 As Stock Inches Higher To $907.60 After Hours Friday On Sales Of $53.8 Billion And $900 Billion Market Cap; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Remain Bullish On EV Charging Station Opportunity
Tesla’s (NASDAQ: TSLA) CEO Elon Musk teases he is working his Plan Part 3 — calling for more mid-priced cars and a finalized Tesla self-driving system — as his stock inches higher to $907.60 in after hours trading Friday. Tesla sales reached $53.8 billion in 2021 and hit a market cap of $900 billion. As Tesla grows, Solar Integrated Roofing Corp. (OTC PINK: SIRC) remains even more bullish on its EV Charging Station opportunity ahead.
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’s (NASDAQ: TSLA) Musk Says He’s Working On Plan Part 3 As Stock Inches Higher To $907.60 After Hours Friday On Sales Of $53.8 Billion And $900 Billion Market Cap; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Remain Bullish On EV Charging Station Opportunity
Musk laid out his business plan in 2016, and he is completing it on his own deadlines now. In Part 3, he calls for more mid-priced vehicles and a finalized improvement in his Tesla-self driving component.
Mid-priced cars may be difficult to build in this period of almost 8% inflation and difficulty even locating and sourcing car components and parts. As a result, while contemplating Part 3 of his original Tesla business plan, 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.
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
In addition to these, Musk has decided to introduce no new car models in 2022 — and focus instead on delivering Tesla vehicles that have already been ordered. It is not unusual for consumers to wait some 10 months for cars they have already pre-ordered. So Musk has decided to do this to clear the backlog of cars already ordered, then make the decision on whether to debut new models in 2023.
Another factor is availability of aluminum, nickel and palladium — key metals in new Tesla vehicles. So inflation is one issue, availability of components is another. The Russian-Ukraine War is also making metal prices more expensive and unavailable.
SIRC and other EV Charging Station installers see the intense multi-national electric car competition and Tesla’s (NASDAQ: TSLA) success as reinforcing its own EV Charging Station ambitions.
SIRC is not building charging stations for Tesla, but sees the OEM rush by OEM companies like General Motors (NYSE: GM) and Ford (NYSE: F) to gain electric car/truck market share as proving the growth of electric vehicles beyond the 4% market share they have among all new cars in the US today.
Tesla is also a 56% margin share leader in EV Charging Stations gobble today — and it only produces proprietary stations to recharge its own vehicles. The entire remainder of this growing market is non-proprietary and, therefore, available to SIRC and other installers.
To help it build a nationwide network of EV Charging Stations to support electric vehicles, SIRC is an $80,000 applicant for federal grants to build them. Tesla’s (NASDAQ: TSLA) Musk Says He’s Working On Plan Part 3 As Stock Inches Higher To $907.60 After Hours Friday On Sales Of $53.8 Billion And $900 Billion Market Cap; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Remain Bullish On EV Charging Station Opportunity.
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 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.
Copycat OEM manufacturers can only hope to emulate the efficiency of Tesla — which had record earnings last year of $5.5 billion on sales of $53.8 billion — and the lading electric car company 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.
OEM car makers are watching with envy 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-watched figure in the automotive industry and reflects a no-fat industrial performance in the face of supply chain shortages and delays. Kudos to Tesla.
According to The Wall Street Journal, Ford (NYSE: F) — like Tesla — is looking at its ‘e’electric car division factory taking orders direct from customers at a fixed price. Dealerships would not be involved, except for a minor role in delivering the cars themselves to local buyers.
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. Tesla’s (NASDAQ: TSLA) Musk Says He’s Working On Plan Part 3 As Stock Inches Higher To $907.60 After Hours Friday On Sales Of $53.8 Billion And $900 Billion Market Cap; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Remain Bullish On EV Charging Station Opportunity.
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.
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.
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.
That’s great news for Solar Integrated Roofing Corp. (OTC PINK: SIRC) and its PLEMCo. subsidiary.
Tesla’s (NASDAQ: TSLA) Musk Says He’s Working On Plan Part 3 As Stock Inches Higher To $907.60 After Hours Friday On Sales Of $53.8 Billion And $900 Billion Market Cap; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Remain Bullish On EV Charging Station Opportunity
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
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