January 2014 Investor Presentation

[fengshui]

Couldn't seem to find this linked anywhere here:
http://files.shareholder.com/downlo...f8bc474e/Investor Presentation - Jan 2014.pdf

Not a lot new, but very pretty.

 

[DaveT]

Thanks for the link. It's a great read.

 

[DaveT]

Articles/megaposts by DaveT

Here's a link to an investors presentation dated January 15, 2014 from Tesla Motors (thanks fengshui for posting it to the group):
http://files.shareholder.com/downloads/ABEA-4CW8X0/2921970389x0x720221/5647bed2-1c27-4b40-abd3-dd11f8bc474e/Investor%20Presentation%20-%20Jan%202014.pdf

There are a lot of interesting tidbits and it's definitely worth your read.

They define Tesla Culture as their greatest asset:
Move fast.
Do the impossible.
Constantly innovate.
Reason from "First Principles"
Think like owners.
We are ALL IN.

Got to love that. (I especially love the reason from first principles and the we are all in.)

It's also to note for Gen3 that they expect a base price of $30-35k. Elon mentioned $35k (without incentives) before at the battery swap post press conference. So $30-35k is aggressive in expectations.

Also for Gen3, they note:
"Category-leading gross margin"

This is great news as well. I don't think Elon has ever gone into specifics with Gen3 margin (only that he would choose lower margin for Gen3 to reach a wider audience). I'd love to hear Elon mention what Gen3's long-term margin goal is. I would imagine somewhere between 15-20%, though 20% might be too high. Maybe 16-18% would be my guess.

 

[clmason]

Here's a link to an investors presentation dated January 15, 2014 from Tesla Motors (thanks fengshui for posting it to the group):
http://files.shareholder.com/downloads/ABEA-4CW8X0/2921970389x0x720221/5647bed2-1c27-4b40-abd3-dd11f8bc474e/Investor%20Presentation%20-%20Jan%202014.pdf

There are a lot of interesting tidbits and it's definitely worth your read.

They define Tesla Culture as their greatest asset:
Move fast.
Do the impossible.
Constantly innovate.
Reason from "First Principles"
Think like owners.
We are ALL IN.

Got to love that. (I especially love the reason from first principles and the we are all in.)

It's also to note for Gen3 that they expect a base price of $30-35k. Elon mentioned $35k (without incentives) before at the battery swap post press conference. So $30-35k is aggressive in expectations.

Also for Gen3, they note:
"Category-leading gross margin"

This is great news as well. I don't think Elon has ever gone into specifics with Gen3 margin (only that he would choose lower margin for Gen3 to reach a wider audience). I'd love to hear Elon mention what Gen3's long-term margin goal is. I would imagine somewhere between 15-20%, though 20% might be too high. Maybe 16-18% would be my guess.

I like slide 11 showing model s vs other similarly priced cars. I think this data shows that Tesla is not going after a small market of EV buyers but against a much larger market of luxury buyers, and they are blowing out the completion.

 

[StapleGun]

Nothing groundbreaking here but still fun to read. One interesting thing was how they used $$$$, $$$, and $$ for describing the cost of the Roadster, MS, and Gen III respectively. Possibly alluding to a low-cost '$' car in the future.

Also Gen III $30-$35k with "category leading gross-margins". They definitely see a clear path to that price point considering how often they are quoting it, and now it's in official literature.

 

[RobStark]

Back to $30-$35k instead of " half of Model S. "

Backing off "at least 200 miles" to real world range.

 

[brianman]

Back to $30-$35k instead of " half of Model S. "
Backing off "at least 200 miles" to real world range.

$$/$$$ = 2/3rds

 

[AlMc]

Thanks DaveT. In addition to what you mentioned I also liked the fact that they are still presenting Model X as being in production late 2014 still. It seemed recently that the 'buzz' was pointing more to early 2015 as first production.

 

[vgrinshpun]

Also for Gen3, they note:
"Category-leading gross margin"

This is great news as well. I don't think Elon has ever gone into specifics with Gen3 margin (only that he would choose lower margin for Gen3 to reach a wider audience). I'd love to hear Elon mention what Gen3's long-term margin goal is. I would imagine somewhere between 15-20%, though 20% might be too high. Maybe 16-18% would be my guess.

According to Deutsche Bank's proprietary work for their July 26, 2013 report Tesla expected to have 35% gross margin for Model S/X and 25% for Gen 3 on a combined volume of only 200K/year. :biggrin:

The full quote (PM me if you'd like a copy of the report):

Based on proprietary work in this report, we now believe that Gen3 can fully close the cost premium gap to the BMW 3-Series segment while generating gross margins in the 25% range. If Tesla can get to 5% share of its addressable market (200k units, including Model S / X), we expect gross margin in the 28% range all-in (~35% for Model S/Xand ~25% for Gen3). And even if R&D / SG&A costs nearly triple from current levels, they would be in the 8% of sales range, implying 20% EBIT margins.
​

​

 

[InTheShadows]

Articles/megaposts by DaveT

Well that's a real bummer (for short term selfish reasons only) I was hoping for premiums to come down some more so I could add.

Thanks for sharing. That's really great news.

 

[Discoducky]

I couldn't find the margin of a Leaf from Nissan's website/investor relations. Does anyone know? http://reports.nissan-global.com/EN/?tag=earnings

 

[ckessel]

Here's a link to an investors presentation dated January 15, 2014 from Tesla Motors (thanks fengshui for posting it to the group):
http://files.shareholder.com/downloads/ABEA-4CW8X0/2921970389x0x720221/5647bed2-1c27-4b40-abd3-dd11f8bc474e/Investor%20Presentation%20-%20Jan%202014.pdf

Bugger, that file simply won't finish downloading. Sits and spins forever. Tried at home and at work.

 

[AlMc]

Bugger, that file simply won't finish downloading. Sits and spins forever. Tried at home and at work.

I have had no problem with download at home or at work......

 

[ckessel]

I have had no problem with download at home or at work......

I checked back an hour later and it worked. Must have been something transient at the download site. Interesting slides, but nothing really new that I could see.

 

[AlMc]

I checked back an hour later and it worked. Must have been something transient at the download site. Interesting slides, but nothing really new that I could see.

I agree for all of us who follow TM closely but it reaffirms TMs committment and I have shared it with friends/family who wonder why I am 'all in' :wink:

 

[Subhuman]

Thanks DaveT, for the post. I thought slide 32 (Service slide) was kind of interesting. It states "No schedule Maintence". I wonder if this has anything to do with Tesla's forthcoming service anouncement. I know Tesla has backed off on the 12,000 mile inspection requirement but they are still want it to be brought in once a year. Maybe Tesla is finding out that the inspections are really unnecessary and the car really only needs to be serviced when there is a specific issue.

 

[ckessel]

I know Tesla has backed off on the 12,000 mile inspection requirement but they are still want it to be brought in once a year.

I think it'st just a reiteration that you aren't required to bring it in, not that Tesla thinks it wouldn't benefit from a yearly checkup.

 

[CyberDutchie]

Thanks DaveT, for the post. I thought slide 32 (Service slide) was kind of interesting. It states "No schedule Maintence". I wonder if this has anything to do with Tesla's forthcoming service anouncement. I know Tesla has backed off on the 12,000 mile inspection requirement but they are still want it to be brought in once a year. Maybe Tesla is finding out that the inspections are really unnecessary and the car really only needs to be serviced when there is a specific issue.

Was thinking the same thing. Plus regretting my prepaid 4Y service $1600 contract, should have put that money in shares instead, last year.

 

[MikeC]

Was thinking the same thing. Plus regretting my prepaid 4Y service $1600 contract, should have put that money in shares instead, last year.

Yep, I regret prepaying, too. I'm almost at 1 year and over 24k miles - I don't even really feel a need to bring it in, other than the fact that I already prepaid for it.

 

[TSLA Siempre]

I'm not a professional investor, so I might be totally wrong here...my question is who is the target audience for something like this? are they pitching this to potential giga-factory partners or large investment banks who want to participate in a secondary offering for a giga-factory?