Cash out 9.7 million yuan in a month!, Tesla Senior Vice President Promoted Half Year Stock Price | Tesla | Vice President

Release time:Apr 14, 2024 02:30 AM

On July 7th, according to documents disclosed by the US Securities and Exchange Commission, Tesla Senior Vice President Zhu Xiaotong reduced his holdings of 2500 Tesla shares worth nearly $700000 on July 3rd. This is the second time in nearly a month that Zhu Xiaotong has reduced his holdings in Tesla, cashing out approximately $1.34 million.

In January of this year, Tesla's Greater China President Zhu Xiaotong was promoted to a global management position, responsible for managing Tesla's US production business and sales in North America and Europe. Starting from April, Zhu Xiaotong served as the Senior Vice President of Tesla's Automotive Business.

Since the beginning of this year, Tesla's stock price has been soaring all the way. According to data from Tonghuashun, as of the close of July 6th US time, Tesla was trading at $276.54 per share, down 2.1%, with a total market value of $876.495 billion. Since the beginning of this year, its stock price has risen by over 120%.

The stock price skyrocketed

On June 19th, according to documents disclosed by the SEC, Zhu Xiaotong reduced his holdings of 2500 Tesla shares on June 14th, with a value of approximately $640000 based on the closing price of the day.

But compared to the number of stocks that were reduced, Zhu Xiaotong made a significant increase in his holdings of Tesla stocks in May. According to SEC documents, on May 24th, Zhu Xiaotong increased his holdings of 339000 Tesla shares, with a value of $62 million based on Tesla's closing price on that day.

In 2022, due to Tesla CEO Elon Musk's frequent reduction of holdings to cash out his acquisition of Twitter, the market was concerned that Musk's business focus was not on Tesla's operations, leading to a continuous decline in Tesla's stock price. By early 2023, the stock price had dropped as low as $101.81 per share.

However, Tesla still maintains its position as the global leader in electric vehicles in terms of performance. According to the financial report, Tesla's total revenue for the entire year of 2022 reached $81.5 billion, a year-on-year increase of 51%; The net profit reached 12.6 billion US dollars, an increase of 128% year-on-year. In 2022, Tesla's global total delivery volume was 1.31 million vehicles, an increase of 40% compared to 2021; Production of 1.37 million vehicles, a year-on-year increase of approximately 47%. Musk stated on the earnings call that 2022 is the best year ever for Tesla on all levels.

Since the beginning of this year, Tesla has achieved a dual surge in stock price and performance, with its stock price rising by over 120% within six months. In the second quarter of 2023, Tesla produced a total of 479700 electric vehicles, a year-on-year increase of approximately 86%; Delivered 466140 electric vehicles, a year-on-year increase of approximately 83%, with delivery data exceeding market expectations of 445000 vehicles. In the first half of this year, Tesla delivered nearly 900000 vehicles, achieving nearly half of its annual target of 1.8 million vehicles.

Many investors have made a fortune by betting on Tesla. Casey Wood's Ark Investment Management Company sold 72183 Tesla shares worth approximately $18.9 million on June 30th. Wood's company has recently sold over 630000 Tesla shares and cashed out over $1.6 billion.

And Musk's wealth also surged with the rise of Tesla's stock price. As of the end of 2022, Musk held 14.84% of Tesla's equity, and based on Tesla's closing price on July 6th, Musk's wealth surged by over $79 billion in six months.

Cash out 9.7 million yuan in a month!, Tesla Senior Vice President Promoted Half Year Stock Price | Tesla | Vice President

Barclays analyst DanLevy said: "Tesla's short-term fundamentals remain unchanged at best. We believe that a revision of expectations is necessary, a downgrade of Tesla's stock to hold from buy and a price target of $260 per share to $220 per share."

Continuous price reduction promotion

Reducing prices and promoting sales volume is the main theme of Tesla's sales strategy this year. On July 1st, with Tesla's luxury car Model S/X announcing a maximum price reduction of 45000 yuan, Tesla began a wave of price reductions in the second half of the year.

Tesla announced that starting from July 7th, car buyers who successfully recommend friends to purchase Model 3 or Model Y will be given a cash reward of 3500 yuan, and they will also receive a 90 day free trial of EAP. As a recommender, you will receive 7000 points that can be exchanged for Tesla merchandise.

On July 1st, Tesla announced that users who purchase existing models of the all-new Model S/X can enjoy discounts ranging from 35000 to 45000 yuan. It is reported that after the discount, the starting price of Model S is 773900 yuan, and the starting price of Model X is 863900 yuan.

At the beginning of this year, Tesla significantly reduced the prices of its two best-selling models, the Model 3/Y, and although it made several small price increases, the selling price was still lower than before the price reduction at the beginning of the year.

On January 6th, according to Tesla China's official website, all domestic models of Tesla were reduced in price, with a starting price of 229900 yuan for the Model 3 and 259900 yuan for the Model Y, setting a record low price.

In May, Tesla raised the price of Model 3/Y in the Chinese and American markets. On May 2nd, the selling price of Tesla Model 3 in China increased to 231900 yuan, compared to 229900 yuan previously; The high-performance version of Model 3 has risen to 331900 yuan, compared to 329900 yuan previously. The price of Tesla Model Y in China has risen to 263900 yuan, compared to 261900 yuan previously; The Model Y Long Range Edition has risen to 313900 yuan, compared to 311900 yuan previously; The Tesla Model Y high-performance version has risen to 363900 yuan, compared to 361900 yuan previously.

As the second quarter draws to a close, Tesla announced that from June 16th to 30th, purchasing the current Model 3 rear wheel drive version and completing delivery will enjoy an insurance subsidy of 8000 yuan and a discounted interest rate loan plan to stimulate sales.

Zhu Xiaotong stated at the Tesla Investor Day event in March this year that Tesla's market share in China is still growing, and the price reduction at the beginning of the year has driven market demand. As long as the price continues to be within an acceptable range, there is no need to worry about China's market share.

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