Tesla is booming in the secondary market.
On Thursday, the stock price of Tesla (TSLA.HK) broke through $2,000 for the first time, reaching a high of $2,021.99, continuing to hit a record high. Based on the closing market value of US$373.06 billion that day, Tesla has surpassed Walmart to become the eleventh largest US stock company with a market value.
More than two months ago, the market value of Tesla surpassed Toyota on June 10, becoming the world's highest market value car company. According to the closing price of this Thursday (20th), Tesla is equivalent to 2 Toyota , 8 Ferraris and 14 Fords.
36Kr's chart was produced; data source: Snowball
Back to the beginning of last year, this hot US stock company is still in a huge controversy. It is not favored by the secondary market due to years of unprofitability and low production capacity. Its stock price fell to the bottom for a time, with the lowest at only US$176.99, less than one-tenth of what it is now.
In 2019, Tesla Shanghai Super Factory opened. On December 30, the first batch of 15 domestic Model 3s were delivered to employees. Since then, Tesla has embarked on a turnaround, and even made many short-selling institutions disappoint.
Since 2020, the stock price of Tesla has risen by more than 378%.
How did Tesla rise?
has achieved profitability for four consecutive quarters, and Tesla has injected a booster into the market. At the same time, the increase in production capacity and delivery volume is the main force driving the big rise in Tesla .
36Kr's chart was produced; data source: Wind
In the first quarter of this year, Tesla produced 103,000 cars and delivered 88,400 new cars, which was called the "best ever" first quarter at the time, but the market did not respond too much to this data. On April 30, after the financial report was released, Tesla closed down 2.33%.
growth trend gradually began in July. Tesla released new delivery data on the 3rd of the month, delivering a total of 90,600 cars in the second quarter, far higher than analysts' estimates of 74,000. On the first U.S. stock trading day after the data was released, Tesla rose 13.48%.
Buy Shares data shows that the total number of electric vehicles purchased by Americans in the first half of this year was 87,000, and 71,000 of them were Tesla , accounting for nearly 82%.
Figure originated from 199IT
It is worth noting that in order to alleviate the spread of the new coronavirus, the factory in Fremont, California was closed for about a quarter of the quarter, which had an impact on its delivery volume in the second quarter and also caused its delivery volume to fail to reach 180,000 vehicles in the first half of the year. Tesla still insists on the annual delivery target of 500,000 vehicles, which means that Tesla is confident that it will complete the delivery volume of more than 300,000 vehicles in the second half of the year.
Tesla 's confidence not only comes from the start of the US factory, but also because the Shanghai Super Factory is playing an increasingly important role.
Tesla is already deeply troubled by insufficient production capacity. In the first half of this year, under the influence of the epidemic, Tesla 's three major factories in the United States have been shutting down for nearly half of the time, and the Shanghai factory naturally took on the banner of production capacity. In the second quarter, Tesla delivered 31,000 new cars in China, accounting for 30% of its global sales.
On the news side, it is generally expected that Tesla stocks will be included in the S&P 500 index, which will increase its stock activity, attract more investors to buy, and help push up the stock price. As a reference, on November 30, 1999, Yahoo was included in the S&P 500 Index, and its stock price rose by more than 60% in the next five trading days.
. In terms of attracting more investors, Tesla has also taken the initiative to take measures. On August 12, Tesla announced that it will split every 1 share into 5 shares since August 31, which further broadened the room for Tesla's stock price to rise. Since the announcement of the stock split, the share price of Tesla has risen by 46%.
has gone from questioning all the way to being highly sought after, and the counterattack of Tesla in the secondary market is closely related to the Chinese market.
Tesla , gradually becoming "Chinese stocks"
Tesla into China, which is the "devastating disaster" mentioned by Li Xiang, the founder of Ideal Auto.
Tesla has taken root in the Chinese market, which can be said to be "smooth sailing".
policy, two models of domestic Tesla Model 3 have been selected into the "Catalogue of Recommended Models for Promotion and Application of New Energy Vehicles". According to the calculations of the First Electric Network, the total subsidy received by Tesla in the first half of the year was about 827 million yuan, and the subsidy standard was almost the highest level in China. The Shanghai Super Factory, which has been "quickly completed" in 375 days, also enjoys lower construction costs. The completion of the Shanghai factory in
directly promoted the Chinese market to become the second largest market for Tesla . Excluding the impact of the epidemic, the domestic sales of domestic Model 3 have steadily increased.
36Kr's chart; data source: National Passenger Car Market Information Joint Conference data
According to the data in June, the number one sales volume in Beijing, Shanghai and Shenzhen is Tesla Model 3. Split it apart. In the above three cities, the sales volume of Model 3 is 1,876, 3,171, and 1,717 respectively. In comparison, the second-place sales volume of the three places are 910 Mercedes-Benz GLC, 1,247, Kovods, and 813 Corolla. Tesla has a clear leading advantage.
price is one of the most sensitive factors for the large-scale promotion of Tesla models in China, and improving the domestic production rate is its response.
Tesla Information revealed at the 2019 financial report performance meeting in February this year showed that at that time, the domestic production rate of domestic Model 3 parts was 30%, and it was planned to increase to 70% to 80% by July. According to Song Gang, manufacturing director of Tesla Shanghai factory, it is expected that the domestically produced Tesla Model 3 will achieve domestic replacement of all parts by the end of 2020.
Senior analyst of the automotive industry Mei Songlin said in March that "restless efforts to achieve 100% localization rate of parts is one of the main goals of Tesla in the Chinese market this year."
Tesla Shanghai factory is accelerating the localization speed. CATL will provide lithium iron phosphate batteries for domestic Tesla Model 3 and Model Y, with an effective supply period from July 1 this year to June 30, 2022. In other words, it is not far from the launch of Model 3 equipped with CATL batteries.
Anxin Securities stated that with the domestic production of batteries and parts, the cost of the whole vehicle is expected to drop by 18,800 to 169,900 yuan compared with the current price. The domestic Model 3 standard battery life version can be reduced to as low as 217,400 yuan, and the market space after the price reduction is expected to reach 1.5 million vehicles. Tesla's official website currently shows that the domestic Model 3 standard battery life version is priced at 271,550 yuan.
With the controllable cost and the decline in selling prices, the sales of domestic Model 3 in China are expected to rise again. At the same time, the Shanghai factory is also expanding its production capacity. Tesla executives recently said that the domestic Model Y model will be offline from the production line of the Shanghai Super Factory in early 2021.
builds more cars on China's land, gets cheaper prices through Chinese parts suppliers, and sells them to more Chinese users. Any disturbances in Tesla in the domestic market are affecting its trend in the capital market. It is not unreasonable to regard it as a "Chinese stock listed in the United States".
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