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But Norway still has higher taxes on ICEs than the EU, right? So it still won't be quite as attractive as in Norway?
Norse
Active Member
That is correct, but that will change. And probably the ICE cars will cost less and EV more than what it does now. The difference now is insane. I would save $8000 each year on having an EV over ICE, and if they build the Model S as an ICE, it would have costed $300 000. But I do believe that the rest of Europe will soon do similar to what Norway have done, so added with this news, I am a bit more bullish that the Model S can sell a lot more cars in Europe.
I was so excited to post that article here, I didn't even finish reading it
So it says actually import tax is 10% on Cars. Means Tesla Cars in all Europe will soon drop in price by 10% or Tesla can operate with 35% margin in Europe
TD1 thanks for posting the article, it's very promising. as I read it, the EU and US negotiators are exchanging plans next week, and this is a step in a process, but not yet the step of a deal ready to be signed. 10% reduced cost for EU would be great
A cup and handle pattern is very helpful pattern to know how to identify. In terms of TSLA, it's pretty clear with the drop from $194 to sub-$120 and back to $185 forms a cup-like pattern. It naturally hits resistance as it approaches the previous high as people start doubting the momentum and want to take profits. But if it's a legit move up, then after some people take profits the move resumes up and breaks through the resistance. The profit taking portion is called the handle and is represented by a slight decline in price. The entry point is when the stock price breaks through the resistance level (near the previous high) on high volume.
The challenge with TSLA's possible cup and handle formation is that the drop was quite steep (over 40%) and the recovery has been quite fast (just a few months). Usually with a cup and handle, it's a higher probability pattern if the drop isn't as steep and the recovery is slower. IMHO, TSLA needs a major catalyst to break through to ATHs - either NHTSA clearance and/or stellar earnings/guidance. But overall, the possible cup and handle pattern is bullish because it shows that the stock has recovered nicely from it's drop, thus showing support from buyers and the possibility that these buyers could take it even higher.
Recognize The Proper And Improper Cup-With-Handle Base - Investors.com
Cup with Handle (Continuation) - ChartSchool - StockCharts.com
Cup and Handle Definition | Investopedia
How To Trade: Deciphering The Cup With Handle Chart Pattern - Investors.com
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I was so excited to post that article here, I didn't even finish reading it
So it says actually import tax is 10% on Cars. Means Tesla Cars in all Europe will soon drop in price by 10% or Tesla can operate with 35% margin in Europe
Definitely exciting news if the EU and US can agree on this.
Help reduce the supply of TSLA shares available for short sellers to borrow. Place a GTC (Good Till Cancelled) sell order for your shares at a ridiculously high price limit. That should prevent your brokerage from lending your shares, or should force them to replace them if they have already been lent. In actuality, GTC is only good for a few months, so remember to update it. Of course not actually selling our shares is an even more effective means for thwarting short sellers, since they would not be able to cover their positions cheaply.
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I don't know how that GTC tidbit, Curt, never came to my attention before. Is it a (relatively) new requirement? At any rate, you haven't a reputation of someone who passes on fluff so I'll take it as gospel. Hmm. Do I tell my brokers $1,000 or $2,000???
And now a bad news take on the EU dropping the import tax: as I wrote yesterday in the "Trucks" thread, VW has been selling to good acceptance throughout the world EXCEPT in the US a pickup truck, named "Amarok". The US has a 25% tax on EU pickup trucks, dating back to a 1963 trade war. This capitulation by the EU just might include a tit-for-tat with the US dropping the so-called "chicken tax" and, as much as I despise protective tariffs, any fuel-efficient pickup (Amarok's standard engine is a diesel TDI) will diminish the prospective appeal for that ephemeral phantom Tesla pickup.
So, while on balance the EU's action will be great for Tesla, it could be sad news for those of us longing to replace our F-350s, etc., with a Tesla.
And now a bad news take on the EU dropping the import tax: as I wrote yesterday in the "Trucks" thread, VW has been selling to good acceptance throughout the world EXCEPT in the US a pickup truck, named "Amarok". The US has a 25% tax on EU pickup trucks, dating back to a 1963 trade war. This capitulation by the EU just might include a tit-for-tat with the US dropping the so-called "chicken tax" and, as much as I despise protective tariffs, any fuel-efficient pickup (Amarok's standard engine is a diesel TDI) will diminish the prospective appeal for that ephemeral phantom Tesla pickup.
So, while on balance the EU's action will be great for Tesla, it could be sad news for those of us longing to replace our F-350s, etc., with a Tesla.
I'd love to do this, but my broker for some reason refuses to allow me to set orders with really high prices. I was doing it in advance of q1, with the idea that I would sell the stock if it quintupled while I was sleeping or something, a la VW, since we had such high short interest and whatnot at the time. But I think, with the stock in the 20-30s range, it would only take an order up to like the 40s or 50s. Very strange. It's not even a reminder, like "are you sure you want to do this?" but a "no, that number is too big, we will not allow you to place that order." I don't really understand what the motivation for that would be.
Otherwise, I would probably have an order at about 500 right now.
Chrisr400cc
Member
I tried to do that once too and my broker wouldn't let me. I seem to remember they would only let me set a sell limit 30% above the current price. So if we don't set a sell limit on our shares our broke can lend them out? That seems unethical. I wish I could set a sell limit of $1,000.
Actually, per SEA Rule 15c3-3 (Rehypothecation Definition | Investopedia) brokers are not allowed to lend fully paid for stock without your explicit permission (ie. if you were going to share in the stock lending revenue with them). It's only if you are borrowing cash on margin that a broker is allowed to lend out some or all of your long position without telling you because they are helping you finance it.
It's actually 140% of the amount they lend you the broker is allowed to lend out of your account without telling you. If you deposit 100k and buy 150k of stock then you are borrowing 50k on margin so the broker would be allowed to lend out 70k of your 150k of positions without telling you.
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TSLAopt, you are correct... my broker has a "stock yield enhancement program" which is essentially an opt-in to let them lend out my fully paid-for shares for a portion of the borrowing fee. Apparently you do not even need a margin account to participate in this. And no, I have not signed up for it :smile:
Securities Financing Services
Securities Financing Services
From Gil Morales ex William ONeil trader today
Virtue of Selfish Investing
PPR - TSLA, PCLN 2/7/14
TSLA will have a pocket pivot if it can trade at least 8,737,700 shares. Earnings and sales remain in the triple digit % range.
Traded 8.9 m shares. Pocket pivot is an positive sign before a prior uptrend as defined by Morales & Karcher
Virtue of Selfish Investing
PPR - TSLA, PCLN 2/7/14
TSLA will have a pocket pivot if it can trade at least 8,737,700 shares. Earnings and sales remain in the triple digit % range.
Traded 8.9 m shares. Pocket pivot is an positive sign before a prior uptrend as defined by Morales & Karcher
stoebs
Member
Causalien
Prime 8 ball Oracle
It is a myth that setting GTC sell limit will prevent your stocks from being lent out. If you doubt me, call your broker and ask them about it. The only thing that matters is whether or not the cash available section is above or below zero. When it is below, you have now used margin and the brokers will have the right to lend out your shares.
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Since we are so close to earnings anyway, I think it's actually best for tsla to hold nhtsa announcement till earnings. The double whammy should prevent any "sell the news" from happening and break through the ATH.
PV4EV
Member
I was so excited to post that article here, I didn't even finish reading it
So it says actually import tax is 10% on Cars. Means Tesla Cars in all Europe will soon drop in price by 10% or Tesla can operate with 35% margin in Europe
Tesla already gets around the 10% import tax within the EU because the cars arrive at Tilburg 'for final assembly' .
Therefore, unfortunately, I don't think there will be a drop in price anytime soon .. !!
Johan
Ex got M3 in the divorce, waiting for EU Model Y!
Do we really know all the in and outs of this tax/duty wise? Perhaps it comes out better (for example duty on the car minus battery) but I doubt they circumvent import tax all together.
PV4EV
Member
As far as I am aware, the 10% import tax can be avoided by a certain level of final assembly, but its more involved than just installing a battery !! There is an overhead cost to setting up and running the 'final assembly' line that probably adds 1/2/3 % to the US import price, but that's not easy to figure out from an external point of view.
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