Latest news with #MartinEberhard
Yahoo
a day ago
- Automotive
- Yahoo
Original Tesla co-founder takes major shot at one of Elon Musk's signature products: 'Looks like a dumpster'
In a recent interview, one of Tesla's original co-founders blasted what is arguably the company's most-hyped product of the past several years. What's happening? As much as Elon Musk's name is now synonymous with Tesla, that wasn't always the case. The electric vehicle pioneer was founded in 2003 by Martin Eberhard and Mart Tarpenning, with Eberhard serving as CEO for the first several years. Eberhard was ousted from that role and eventually left the company in 2007, with Musk taking over the company's top spot a year later. Now, as Gizmodo reports, Eberhard has spoken about some of the recent happenings at Tesla, including harsh critiques of the company's Cybertruck. Switch Auto Insurance and Save Today! Great Rates and Award-Winning Service Affordable Auto Insurance, Customized for You The Insurance Savings You Expect The comments came from a lengthy interview with Kim Java (@ItsKimHava), an EV-focused YouTuber. "I am actually disappointed that Tesla canceled its low-end car program because that's what the world needs," Eberhard said. "Not a truck that looks like a dumpster." The first part of those comments seems to reference Tesla's previously planned budget car model, which was unofficially referred to as the Model 2. That car was expected to sell for between $25,000 and $30,000, or roughly 30% less than any other car in its lineup. Plans for the Model 2 have reportedly been scrapped, although Musk denied those reports last year. Why is this important? The Cybertruck was a huge swing by Tesla. Not only was it the company's first truck, but it generated years' worth of buzz for its monochromatic, straight-edged look. In the hype leading up to its release, Musk called the truck "one of those special products that comes along only once in a while," and suggested that Tesla's Texas Gigafactory could one day be making up to 250,000 Cybertrucks per year. Recent sales numbers, however, show the hype has far exceeded the actual demand. Would you buy an EV if it only took you five minutes to charge? Sign me up Depends on the cost No way I already have one Click your choice to see results and speak your mind. In the second quarter of 2025, Tesla sold just 4,306 Cybertrucks, a drop of more than 50% from the same period last year. Overall, the company sold 12.6% fewer cars in the second quarter of this year than it did in 2024. Perhaps a lower-cost model, such as the Model 2, would have helped put more EVs on the road. But for now, much of Musk's future vision for Tesla seems to be centered on self-driving cars and autonomous services like the robotaxi. What can I do about this? Whether it's from Tesla or another automaker, switching from a gas-powered vehicle to an EV is one of the most environmentally friendly purchases a person can make. Time is of the essence to get the best possible deal on a new electric vehicle, however, as the recently passed One Big Beautiful Bill Act will end a federal $7,500 EV tax credit at the end of September. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Automotive
- Yahoo
Unpacking Q2 Earnings: Tesla (NASDAQ:TSLA) In The Context Of Other Automobile Manufacturing Stocks
Looking back on automobile manufacturing stocks' Q2 earnings, we examine this quarter's best and worst performers, including Tesla (NASDAQ:TSLA) and its peers. Much capital investment and technical know-how are needed to manufacture functional, safe, and aesthetically pleasing automobiles for the mass market. Barriers to entry are therefore high, and auto manufacturers with economies of scale can boast strong economic moats. However, this doesn't insulate them from new entrants, as electric vehicles (EVs) have entered the market and are upending it. This has forced established manufacturers to not only contend with emerging EV-first competitors but also decide how much they want to invest in these disruptive technologies, which will likely cannibalize their legacy offerings. The 6 automobile manufacturing stocks we track reported a slower Q2. As a group, revenues beat analysts' consensus estimates by 1.5%. In light of this news, share prices of the companies have held steady as they are up 2.8% on average since the latest earnings results. Weakest Q2: Tesla (NASDAQ:TSLA) Originally founded by Martin Eberhard and Marc Tarpenning in 2003, Tesla (NASDAQ:TSLA) is an electric vehicle company accelerating the world's transition to sustainable energy. Tesla reported revenues of $22.5 billion, down 11.8% year on year. This print fell short of analysts' expectations by 1.1%. Overall, it was a disappointing quarter for the company with a miss of analysts' revenue estimates, as the miss in Energy trumped the beat in Services and in-line print for Automotive and a significant miss of analysts' operating income estimates. Tesla delivered the weakest performance against analyst estimates and slowest revenue growth of the whole group. Interestingly, the stock is up 1.8% since reporting and currently trades at $339.00. Read our full report on Tesla here, it's free. Best Q2: Ford (NYSE:F) Established to make automobiles accessible to a broader segment of the population, Ford (NYSE:F) designs, manufactures, and sells a variety of automobiles, trucks, and electric vehicles. Ford reported revenues of $50.18 billion, up 5% year on year, outperforming analysts' expectations by 7.8%. The business had an exceptional quarter with a solid beat of analysts' sales volume estimates and an impressive beat of analysts' adjusted operating income estimates. Ford scored the biggest analyst estimates beat among its peers. The market seems content with the results as the stock is up 4.6% since reporting. It currently trades at $11.41. Is now the time to buy Ford? Access our full analysis of the earnings results here, it's free. Lucid (NASDAQ:LCID) Founded by a former Tesla Vice President, Lucid Group (NASDAQ:LCID) designs, manufactures, and sells luxury electric vehicles with long-range capabilities. Lucid reported revenues of $259.4 million, up 29.3% year on year, in line with analysts' expectations. It was a softer quarter as it posted a significant miss of analysts' adjusted operating income estimates and a significant miss of analysts' EPS estimates. As expected, the stock is down 4.3% since the results and currently trades at $2.33. Read our full analysis of Lucid's results here. Winnebago (NYSE:WGO) Created to provide high-quality, affordable RVs to the post-war American family, Winnebago (NYSE:WGO) is a manufacturer of recreational vehicles, providing a range of motorhomes, travel trailers, and fifth-wheel products for outdoor and adventure lifestyles. Winnebago reported revenues of $775.1 million, down 1.4% year on year. This result came in 0.8% below analysts' expectations. Taking a step back, it was a mixed quarter as it also logged a solid beat of analysts' adjusted operating income estimates but full-year EPS guidance missing analysts' expectations significantly. The stock is up 9.9% since reporting and currently trades at $34.40. Read our full, actionable report on Winnebago here, it's free. General Motors (NYSE:GM) Founded in 1908 by William C. Durant, General Motors (NYSE:GM) offers a range of vehicles and automobiles through brands such as Chevrolet, Buick, GMC, and Cadillac. General Motors reported revenues of $47.12 billion, down 1.8% year on year. This number beat analysts' expectations by 1.3%. However, it was a slower quarter as it recorded a significant miss of analysts' EBITDA estimates and a miss of analysts' sales volume estimates. The stock is up 4.2% since reporting and currently trades at $55.50. Read our full, actionable report on General Motors here, it's free. Market Update Thanks to the Fed's series of rate hikes in 2022 and 2023, inflation has cooled significantly from its post-pandemic highs, drawing closer to the 2% goal. This disinflation has occurred without severely impacting economic growth, suggesting the success of a soft landing. The stock market thrived in 2024, spurred by recent rate cuts (0.5% in September and 0.25% in November), and a notable surge followed Donald Trump's presidential election win in November, propelling indices to historic highs. Nonetheless, the outlook for 2025 remains clouded by potential trade policy changes and corporate tax discussions, which could impact business confidence and growth. The path forward holds both optimism and caution as new policies take shape. Want to invest in winners with rock-solid fundamentals? Check out our 9 Best Market-Beating Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
Telegraph
05-08-2025
- Automotive
- Telegraph
Tesla Model Y review: Long overdue revamp fails to address the world's favourite EV's main flaws
There have certainly been better years for Tesla, and scarcely a day goes by without more doomslaying for the electric car maker founded in July 2003 by Martin Eberhard and Marc Tarpenning. Elon Musk became the company's largest shareholder in 2004 and chief executive in 2008. In 22 years, the company has become a phenomenon, with growth partly fuelled by the undoubted virtuosity of its cars, but also profits driven by environmental grants and CO2 trading with traditional car makers. Tesla has seen whopping share-value growth and made life-changing amounts for its investors, which perhaps also fuels the fan-boy hype. One estimate suggested that $1,000 invested in 2010 would now be worth almost $270,000 (£203,000), and in February this year Tesla's worth exceeded one trillion US dollars. Where rival car manufacturers have been worthy-but-dull investments, Tesla took off like a SpaceX rocket, at times the 11th and then the sixth most valuable company in the world. Then there's the Preston Tucker -like hucksterism of Musk, adored as a visionary engineer and rainmaker by some, loathed by others for his grant-aid grabbing and Bitcoin-investments hypocrisy, his toadying up to President Trump, his bullying behaviour and vote-buying in Wisconsin, among others. Oh, and that straight-arm salute at Trump's inauguration… Backlash against Musk The backlash has been a while coming, but it has been furious, with the share price tumbling by 10 per cent at the time of writing, sales plummeting, pickets around North American dealerships and the questioning of Musk's Panglossian announcements, which increasingly fail to materialise. As rivals including Waymo, Volkswagen and others take the lead in self-driving cars; established car makers and the Chinese catch up with the EV revolution just at a time when the public becomes disenchanted with them; and Trump halts the EV grants that have been so crucial to Tesla's success. Investors are questioning Musk's commitment to Tesla, and even he admits that it's a 'rocky road ahead'. As for the Model Y, Tesla's SUV mainstay and in 2023 the world's best-selling car, a revamp earlier this year hasn't exactly been a runaway success. In the first six months of this year, Tesla's European market share plummeted from 2.4 per cent to 1.6 per cent, and sales of the Model Y, while still the best-selling BEV in Europe, were about 50 per cent down in the first five months, although they picked up in June. Current owners speak out While I was waiting for a Tesla Supercharger at a motorway service station, the owner of a current Model Y came up to talk. 'Is that the new Y?' he asked. 'How's it going?' He assailed me with his car's issues: software glitches, patchy build quality, terrible ride quality, uncomfortable seats, poor dealer servicing – along with massive depreciation, after Tesla dropped the price of the Model Y by up to £8,000 in January 2023. This is a blink-and-you'll-miss-it revamp; a blade-type front light bar and a shuffling of panel gaps at the rear to make repairs simpler and cheaper. It has the same steel and aluminium bodyshell but it is more aerodynamic. The suspension consists of front wishbones, with a multi-link rear and passive damping. Yet overall the Model Y is still weirdly dumpy, with a mysteriously high, bowed roofline. Our test car had £2,100-worth of 20in wheels (the standard items are 19in), £1,300 for the white paint (now a priced option – only black and grey are standard) and the £3,400 enhanced Auto Pilot system, all of which takes the price from the standard £48,990 to £55,790 on the road. Business contracts, which are where many of these cars are sold, start at £531 per month for a three-year/8,000 miles-a-year deal. Competition, which when the Model Y was launched five years ago was scant, is now myriad. So think of the Skoda Enyaq, Polestar 4, BYD Sealion 7, Hyundai Ioniq 5, Kia EV9 or Renault Scenic E-Tech – and that's before you get to the Germans. Inside information Using the credit card-sized key or a programmed mobile phone, opening the car requires a tap in an unmarked place on the driver's side centre pillar. The interior resembles a Hollywood version of an evil computer boss's office, stark with grey and matt black fabrics, along with plastics interspersed with aluminium. Warm and welcoming it is not. With acoustic glass all round, the sound-deadening is eerie and your ears pop with the pressure change as the doors shut. Accommodation is generous, with copious leg and head room front and rear, although the front seats are mounted quite high. It only has five seats; there's no word yet on whether the AWD Long Range will get a seven-seat option as before. It takes a while to find an ostensibly comfortable driving position, partly because the steering column adjustment is buried in the touchscreen. The low base of the windscreen gives the impression of looking down at the road but, much worse, the front seats are spectacularly uncomfortable during a long journey, due to a strange shape on the backrest and an unsupportive squab. At 2,138 litres with the rear seats folded, the load space is massive, and there's further storage under the boot floor and beneath the bonnet. The electric folding rear seats should be shown to rivals as an example of how to do it; the amateur-hour folding-plank luggage space cover as an example of how not to… It weighs 1,901kg and tows up to 1.6 tons. Too clever by half 'They've given you an indicator stalk,' said the PR in hushed tones, as if Tesla had actually invented the steering-column stalk instead of removing it from its cars and then, when drivers didn't like that, reinstating it. Apart from that, there are few buttons and the central touchscreen dominates the driving experience, by turns brilliant and ingenious and at others exasperating, stupid and distracting. Much of the innovation is too clever by half and a quarter as useful. Take the Auto Shift system, which automatically changes between reverse and forward gears and vice versa when manoeuvring, but quite often leaves you in the wrong gear. The Autopilot 'self-driving' system works all right, but is a poor driver, braking in the middle of corners, slamming on the brakes at nothing, taking its speed limit cue from slip roads and steering erratically through bends. There's no Apple CarPlay or Android Auto in a Tesla for a variety of reasons, not all of them understandable, and the mobile-to-car pairing is far from seamless. The automatic tilting mirrors are useful when reverse parking next to a kerb, but not when reversing normally; changing between the two is a finger-stabbing chore. On the road Changes to the drivetrain are few; improved lubrication for the motor and step-down transmission means less parasitic losses, while the motor magnets have better isolation to reduce flux interference. The range is improved to 387 miles with a commendable efficiency of 4.4 miles per kWh; during a week and 800 miles of mixed use, I achieved 4m/kWh, which equates to a range of 312 miles. Buttons to operate the transmission are in the roof lining, or there's an on-screen control graphic – of course there is. The accelerator action is not linear, so you get a bit of surging. It's a similar story with the unprogressive brakes; the blended electrical retardation and friction lining brake-by-wire system feels as though it would have been better with another six months of development. The Model Y is certainly fast and overtaking holds no fears, although as with any EV, if you spend too long with the accelerator to the floor you'll pay for it in reduced range. The ride is pretty terrible and noisy. The springing feels soft yet the damping is abrupt and harsh, while the bodyshell feels less than the last word in stiffness. This might be due to the 20in wheel option, but it clumps and crashes noisily and never quite settles on motorways. Similarly, and despite the massive tyres, the handling doesn't inspire confidence. The turn-in to corners feels inconsistent and the softly sprung front end reacts badly if you back out halfway through, or adjust your chosen line. The Telegraph verdict The revamped Model Y is efficient, relatively light, well priced and swooshes with the best of EV rivals. It's not much fun to drive, although that also applies to a lot of rivals. But then, as James Carville, Bill Clinton's strategist, once said: 'It's the economy, stupid.' Tesla's Supercharger network costs 36-39p per kW compared with the highway robbery of some providers charging upwards of 85p per kW for rival battery-powered SUVs I could recommend as decent drives. In addition, the tax savings for those running a car through the business are generous (under salary sacrifice, some can save hundreds per month in tax). Small wonder it's so popular; during my week-long test I saw a lot of Tesla taxis, and cabbies know a cheap-to-run vehicle better than most. I just find it hard to forgive the ride and handling and the bloody uncomfortable seats. I would love to spend a couple of days with Tesla's vehicle attributes team to address those issues, but as we know, the firm doesn't speak to anyone, it simply sells cars. The facts On test: Model Y Long Range Rear-Wheel-Drive Body style: five-door, five-seat SUV/crossover On sale: now How much? from £48,990 (£55,790 as tested) How fast? 125mph, 0-62mph in 5.4sec How efficient? 4.38m/kWh (WLTP Combined); 4m/kWh on test Powertrain: 83kWh net (78kWh) lithium-ion NMC battery with single AC permanent magnet synchronous motor, rear-wheel drive Range: 387 miles (WLTP), 312 miles on test Charging: 11kW on-board charger; DC charging up to 250kW with 20-80 per cent in 27min Maximum power/torque: 335bhp/332lb ft CO2 emissions: 0g/km (tailpipe), 23.6g/km (CO2 equivalent well-to-wheel) VED: £10 first year, £620 next five years, then £195 Warranty: four years/60,000 miles on vehicle, eight years/150,000 miles on battery The rivals Skoda Enyaq SportLine 85kW RWD From £46,585 While prices start at £39,010, this is the closest version to the Model Y, with an 85kWh battery, 354-mile range, a top speed of 111mph and 0-62mph in 6.5 sec. The optics are a bit mumsy, but it rides well and has comfortable seats. Kia EV9 RWD From £65,920 A striking seven-seat electric SUV, with a range of 349 miles from its 99.8kWh battery, with a top speed of 114mph and 0-62mph in 9.4sec. Pretty good to drive, but most buyers choose the more expensive all-wheel drive versions.
Yahoo
03-08-2025
- Automotive
- Yahoo
Original Tesla Cofounder Roasts Cybertruck for Looking "Like a Dumpster"
Martin Eberhard, one of the original cofounders of Tesla — who actually started the company and didn't retroactively bestow himself a title giving that impression, unlike a certain billionaire — isn't too pleased with his baby's newest crowning jewel: the Cybertruck. In comments made in a recent interview with YouTuber Kim Java spotted by Electrek, Eberhard vented his frustration with Tesla's recent direction — which is when the highly heterodox pickup truck caught a stray. "I am actually disappointed that Tesla canceled its low-end car program," he said in the interview. "Because that's what the world needs — not a truck that looks like a dumpster." Eberhard cofounded Tesla with Marc Tarpenning in 2003. Musk joined the next year after investing $6.5 million in the startup, and became chairman of the board. They were hardly ever on good terms. The first major blow was dealt by Musk, who sacked Eberhard as CEO in 2007, eventually stepping into the role himself. Eberhard clapped back by suing Musk in 2009 for libel and defamation, and later settled out of court. As part of that settlement, Musk was allowed to call himself a cofounder of Tesla. There's still bad blood between the two, and Eberhard has occasionally been publicly critical of Musk. In 2023, for example, Eberhard took a dig at Musk's alleged hot temper and hair-trigger firings. "I'm a believer of treating employees with respect, and I'm not into random firings and things like that," Eberhard said in an interview with Business Insider, ruminating about how he would run things instead. "So maybe the culture inside the company would have been a little bit nicer." His latest criticism is one echoed by many of Tesla's investors and even its fans: that it's sat on its promise of delivering an affordable, $25,000 EV. Proponents argue this would unlock millions of more customers that were reluctant to buy EVs due to their price and rescue the company's faltering sales. Recent comments from Musk, however, have all but confirmed reports that Tesla is abandoning the idea, despite teasing it for years. And in retrospect, the Cybertruck should've been a clear death knell. It's in every respect a giant F-U to sensible, frugal-minded buyers. It's large, heavy, expensive to maintain, and infamously unreliable. When it launched, it cost an eye-watering $100,000, and cheaper versions that have since been released are still well within the luxury SUV price range with the tradeoff of being a downgrade in every way possible. And with its staggeringly poor sales, which in the second quarter collapsed by more than 50 percent from the year before, Eberhard may be getting the last laugh. More on Tesla: The Cybertruck Is Aging Like Fast Fashion on Temu Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
01-08-2025
- Automotive
- Yahoo
2 Mega-Cap Stocks for Long-Term Investors and 1 We Avoid
Megacap stocks dominate their sectors and their actions influence economies worldwide. The flip side though is that their sheer size means they have less room for explosive growth as scale works against them. These trade-offs can cause headaches for even the most seasoned professionals, which is why we started StockStory - to help you find high-quality companies that can grow their earnings no matter what. Keeping that in mind, here are two industry titans whose competitive advantages create flywheel effects and one whose momentum may slow. One Mega-Cap Stock to Sell: Tesla (TSLA) Market Cap: $994.3 billion Originally founded by Martin Eberhard and Marc Tarpenning in 2003, Tesla (NASDAQ:TSLA) is an electric vehicle company accelerating the world's transition to sustainable energy. Why Do We Steer Clear of TSLA? Tesla's scale advantage in EV production leads to gross margins that exceed incumbents such as General Motors and Ford. However, a softer macroeconomic backdrop and tariff pressures have weighed on automobile sales, which are highly cyclical. The company's execution ability is a question mark given its long history of delays, such as the Cybertruck and Robotaxi launches. Its sizeable investments in projects with uncertain return timelines, like Optimus, also raise skepticism from investors. On the bright side, Tesla's Megapack product solves a critical problem for utilities needing renewable energy storage solutions. This innovation has made the energy segment the most profitable and fastest-growing business line for the company. At $306.90 per share, Tesla trades at 146.5x forward price-to-earnings. If you're considering TSLA for your portfolio, see our FREE research report to learn more. Two Mega-Cap Stocks to Watch: Nvidia (NVDA) Market Cap: $4.34 trillion Founded in 1993 by Jensen Huang and two former Sun Microsystems engineers, Nvidia (NASDAQ:NVDA) is a leading fabless designer of chips used in gaming, PCs, data centers, automotive, and a variety of end markets. Why Will NVDA Outperform? Annual revenue growth of 140% over the past two years was outstanding, reflecting market share gains this cycle Share buybacks catapulted its annual earnings per share growth to 80.2%, which outperformed its revenue gains over the last five years Strong free cash flow margin of 48.8% enables it to reinvest or return capital consistently, and its recently improved profitability means it has even more resources to invest or distribute Nvidia's stock price of $176.69 implies a valuation ratio of 37.7x forward P/E. Is now the time to initiate a position? Find out in our full research report, it's free. Coca-Cola (KO) Market Cap: $292.2 billion A pioneer and behemoth in carbonated soft drinks, Coca-Cola (NYSE:KO) is a storied beverage company best known for its flagship soda. Why Does KO Stand Out? Enormous revenue base of $47.23 billion provides significant negotiating leverage in retail partnerships Products command premium prices and lead to a best-in-class gross margin of 61.1% Disciplined cost controls and effective management resulted in a strong two-year operating margin of 25.1%, and its profits increased over the last year as it scaled Coca-Cola is trading at $68.01 per share, or 21.9x forward P/E. Is now the right time to buy? See for yourself in our comprehensive research report, it's free. Stocks We Like Even More When Trump unveiled his aggressive tariff plan in April 2024, markets tanked as investors feared a full-blown trade war. But those who panicked and sold missed the subsequent rebound that's already erased most losses. Don't let fear keep you from great opportunities and take a look at Top 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as ServiceNow (+178% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today for free. Find your next big winner with StockStory today. Find your next big winner with StockStory today StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
