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☆ Tesla's backtracked $50,000 resale fee could be a sign the Cybertruck isn't destined for the mainstream yet
▼ + stars: | 2023-11-15 | by ( Grace Kay | Nora Naughton | ) www.businessinsider.com time to read: +4 min

The fee could be a sign the Cybertruck might be a smaller release than expected, experts said. AdvertisementTesla's rescinded $50,000 resale fee is the latest sign the Cybertruck won't hit the market in large numbers anytime soon. These restrictions are rare, but they're most commonly used on limited-production vehicles, Stephen Beck, founder and managing partner of consultancy cg42, told Business Insider. "It's really hard to say how many people on the reservation list will actually buy it," Moody told Business Insider. "There will be just as many people who want to work the system to make money as people who want to own this vehicle," Moody said.

Persons: Tesla, —, Elon Musk, Stephen Beck, cg42, Elon, Beck, Musk, Brian Moody, Moody, Ivan Drury, Edmunds, Drury, Ford, John Cena Organizations: Service, Ford GT, scalpers

☆ Elon Musk doesn't care that Tesla values are tanking — but it could drive buyers to Ford and GM
▼ + stars: | 2023-07-27 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

Used Tesla values are down 30% year-over-year, according to firm Recurrent. Used Tesla values have dropped dramatically from last year as the company continues to slash prices and flood the market with more new cars. That's because resale value hasn't been the biggest priority for Tesla buyers so far. There are a few reasons for that: Tesla buyers are loyal to the company. The Tesla dynamics benefit more EV-buyersIn the meantime, Tesla is forcing the EV market to become more affordable for mainstream buyers — a noticeable impact especially in the used EV space.

Persons: Tesla, Liz Najman, Tesla's, It's, Stephen Beck, Beck, Martin French, Najman Organizations: Morning, Elon, EV Locations: EVs

☆ What Tesla’s EV charging win really means for drivers
▼ + stars: | 2023-06-15 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +8 min

A Tesla charging station stands in a parking lot on January 17, 2023 in Springfield, Virginia. But other EV charging companies have, so far, faced a far greater reliability challenge than Tesla’s. It’s an integrated system and has been from the very beginning,” said Jim Burness, chief executive of National Car Charging, a wholesaler of equipment to the EV charging industry. In both cases, drivers will be able to access Tesla chargers without having to use Tesla apps. That could lead to more lines at Tesla chargers, irritating Tesla owners.

Persons: Tesla, Anna Moneymaker, Stephanie Brinley, Jon McNeill, ”, “ Tesla, Jim Burness, Justin Sullivan, Alan Wexler, “, ” Wexler, Dan Barbossa, CNN’s, Mark J, Terrill, they’re, you’re, Brendan Jones, Blink, Burness, “ That’s, Stephen Beck, Gary Silberg Organizations: CNN, P Global Mobility, Ford, General Motors, EV, GM, Nissan, Tesla, DVx Ventures, CNN Business, Detroit, CCS, KPMG Locations: United States, Springfield , Virginia, America, San Francisco , California, Westlake, Calif

☆ Tesla's price cuts highlight Elon Musk's last advantage in the EV business
▼ + stars: | 2023-04-23 | by ( Matt Turner | ) www.businessinsider.com time to read: +5 min

Teslas are cheaper than everA Tesla Model Y. Patrick Pleul/Getty ImagesIn the market for a new car? Elon Musk's hoping that recent price cuts might turn you on to a Tesla. The billionaire might just be turning to his one remaining advantage in the EV business. But Tesla can cut prices and still deliver profits, something rival automakers struggle to do in their EV businesses. While Tesla investors are worrying about profits, Musk's rivals have their own reasons to be concerned, Stephen Beck, founder and managing partner of consultancy cg42, told Insider.

☆ Elon Musk isn't giving up on his price war, and it's making Tesla investors anxious
▼ + stars: | 2023-04-20 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

Tesla's profits took a hit in Q1 thanks to price cuts. Margins are now 'keeping Tesla investors up at night,' Wedbush analyst Dan Ives said. "Margins are now a delicate issue that are keeping Tesla investors up at night," Wedbush analyst Dan Ives wrote in a Thursday note to clients. Elon says he knows what he's doingWhile some investors angst over Tesla's price cuts, Musk defended the company's strategy in a call with analysts after earnings were released Wednesday evening. "We've taken a view that pushing for higher volumes and a larger fleet is the right choice here, versus a lower volume and higher margin," Musk said.

The largest U.S. lender gained $50 billion in deposits at the end of March, its first-quarter earnings report showed. That compares to Citigroup Inc (C.N), where deposits were largely flat, and a decline at Wells Fargo & Co (WFC.N). Investors have closely scrutinized deposits after the collapses of Silicon Valley Bank and Signature Bank last month rattled markets, prompting regulators to step in to guarantee their customers' deposits. JPMorgan reported a 2% rise in deposits to $2.38 trillion at the end of the quarter compared with the end of 2022. Deposits at Wells Fargo slid 2% to $1.36 trillion as customers moved their money to higher-yielding accounts and products.

☆ Americans love to buy more car than they need. It's making electric cars more expensive.
▼ + stars: | 2023-03-30 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

But Americans love SUVs and trucks, and they're going to have to pay for them in the near term. A lot of prospective EV buyers just haven't yet found the types of EVs they're looking for. They don't necessarily need more luxury electric sedans — they want the trucks and SUVs they're used to. A recent study found most car-buyers don't want to spend more than $50,000 to go EV, but they also want electric trucks and SUVs that inherently cost more. Bigger vehicles are often just more expensive, largely because they require bigger batteries — the most expensive part of these new EVs.

☆ Why Silicon Valleys massive layoffs haven't hit Detroit automakers
▼ + stars: | 2023-02-05 | by ( Nora Naughton | Alexa St. John | ) www.businessinsider.com time to read: +4 min

The auto industry could benefit from tech layoffs. But the auto industry doesn't need to undergo massive cuts — mostly because they already have over the past few years. Tech companies, meanwhile, had enjoyed a decade of unmitigated growth thanks to low interest rates and a flood of new investor money. "Legacy auto is underpopulated in order to fully go after the future of mobility — primarily, electrification, batteries, and software." The auto industry could benefit from tech layoffsWhile tech sheds thousands of jobs, automakers are desperate for workers.

☆ Electric cars are too expensive because Americans insist on having more car than they need
▼ + stars: | 2023-02-02 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

☆ Tech giants have cut tens of thousands of jobs. Automakers are ready to hire them.
▼ + stars: | 2023-01-29 | by ( Nora Naughton | Alexa St. John | ) www.businessinsider.com time to read: +4 min

But the auto industry doesn't need to undergo massive cuts — mostly because they already have over the past few years. Tech companies, meanwhile, had enjoyed a decade of unmitigated growth thanks to low interest rates and a floor of new investor money. As these companies enter a new phase and a different economy, the tech industry is experiencing its first real belt-tightening. The auto industry could benefit from tech layoffsWhile tech sheds thousands of jobs, automakers are desperate for workers. "The war for talent in the automotive industry is still raging and the talent pool is still relatively small."

☆ Elon Musk calmed anxious Tesla investors by acting like a normal CEO for once
▼ + stars: | 2023-01-26 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

Investors went into Tesla's earnings announcement Wednesday feeling trepidation, especially given signs the CEO was distracted by a series of gaffes at Twitter. But Musk quelled these fears with solid fourth-quarter results, a confident outlook for the year, and a dose of normalcy. Musk addresses demand worriesOn a call with investors following fourth quarter results, Musk addressed the demand worries head-on. "Tesla investors were worried that Musk wasn't focused," Beck told Insider. But investors left the earnings call yesterday reassured that Musk can manage both companies at once, said Darrell Martin, CEO of Apex Trader Funding.

☆ Amazon's latest product announcements are a reminder the company is always watching
▼ + stars: | 2022-10-02 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +6 min

But the event was also another reminder of just how much Amazon’s many products are watching us. The new Halo Rise sleep tracking device, for example, sits on the nightstand and monitors a person’s breathing and micro-movements as they sleep without the need to wear a sleep tracker. Amazon is far from the only tech company offering products that monitor users or collect data with the promise of improved conveniences, productivity and safety. In the months leading up to the product event, Amazon made two big announcements that could expand its reach into our lives even more. The Halo Rise sleep tracking device, meanwhile, encrypts the collected data and stores it in the cloud, according to the company.

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