𝗪𝗮𝘀 𝗧𝗲𝘀𝗹𝗮 𝗲𝗶𝗻𝗳𝗮𝗰𝗵 𝗚𝗲𝗶𝗹 𝗺𝗮𝗰𝗵𝘁(and what disgusts me)
With this post I am participating in the challenge of @DonkeyInvestor to write a partly positive analysis about an asset they "hate". With me should be known that I am not convinced of the overall concept Tesla.
Important: This post deals with Tesla only fragmentary, who wants to know more about Tesla can contact me at @MelonUsk97 but you should be aware that he wears positive glasses, while I wear negative ones.
𝗡𝘂𝗻 𝗔𝗯𝗲𝗿 𝘇𝘂𝗺 𝗜𝗻𝗵𝗮𝗹𝘁:
𝟭. 𝗠𝗮𝗿𝗸𝘁𝘀𝘁𝗲𝗹𝗹𝘂𝗻𝗴:
Tesla has been leading the world e-car sales for years, in 2021, for example, Tesla ranks first and third on the list of the most sold electric cars with the Model 3 and Model Y, respectively. Tesla should have a broader customer base due to this market position, you simply see the car more often on the road and the brand remains in the head. But this is not the only way Tesla is ahead of the other publicly traded manufacturers:
One of the big advantages a Tesla has over other e-vehicles is the ability to use Super Chargers. On the one hand, the Tesla-exclusive charging option makes for a much more convenient way to travel (and reduces one of the disadvantages of the e-car), and on the other hand, it allows Tesla drivers to clearly differentiate themselves from the rest of the other electric drivers.
In short, Tesla has become the market leader in electric cars, and it will be very difficult to displace it.
𝟮. 𝗠𝗮𝗿𝗴𝗲
Tesla has a profit margin on the Model 3 of a little under 25%. Thus, in 2021, Tesla could
achieve a better overall profit margin than all other publicly traded manufacturers (Tesla 12.1%, BMW/Benz 12.0%).
But this small lead is only in the overall evaluation, in the individual vehicles there is a single manufacturer that tops the 25% (Porsche with up to 50%). Tesla has a top margin and offers a buying opportunity to more drivers than Porsche due to a lower price.
𝟯. 𝗘𝗹𝗼𝗻 𝗠𝘂𝘀𝗸, 𝗱𝗲𝗿 𝗛𝘆𝗽𝗲
Tesla/Elon Musk knows how to create hype, he influences a large part of our society/younger generation like no other CEO. Whether a cybertruck is announced now (and kept being postponed), Tesla doesn't need publicity to stay in the conversation, even though the design of the vehicles sold is considered ugly. (can be read)
Now, however, we come to the part that makes investing in Tesla impossible for me:
𝟰. 𝗗𝗶𝗲 Ü𝗯𝗲𝗿𝗯𝗲𝘄𝗲𝗿𝘁𝘂𝗻𝗴:
For a company that is not designed for growth, a P/E ratio of 116.39 (05/22/2022) would be totally overvalued, but you have to give Tesla credit for still growing strongly. If we now assume an average P/E ratio of 10 for a car manufacturer (if we look at Mercedes or BMW, for example, this is still unrealistic: 5.66 6.62), Tesla's profit would have to at least triple, just to do justice to the current valuation. Even if we look at the manufacturer Ferrari (ca.35) (no Tesla is not even close in terms of luxury) Tesla would have to almost quadruple to meet the valuation. I don't see any margin cuts at Tesla at the moment that aren't being complained about at other manufacturers either, which would speak for a justifiably higher P/E ratio. I also don't see the "Tesla needs to be valued as a tech stock" statement here, as Tesla's main profit comes from cars. Don't get me wrong, I absolutely can't foresee a growth of Tesla on 15+ years, but the current valuation of shares mostly refers only to the growth of the next 4-8 years and there I just don't see such a gigantic growth. In my opinion, the stock is absurdly overvalued and accordingly there is no place for Tesla shares in my portfolio.
𝟱. 𝗗𝗮𝘀 𝗘𝗸𝗲𝗹𝗽𝗮𝗸𝗲𝘁
Whether I detest the company and / or the people, I leave it to the reader, it is only a personal opinion in the statement.
For me it is important to have at least some confidence in the company / the manager of a company in which I invest, otherwise I will never buy shares of the company. The following points speak against it:
(These points alone do not necessarily speak for a distrust, it goes more with the sweeping under the table of this information on the part of Tesla, on the other hand, I find all points repulsive, I will keep the endsprechenden points as short as possible, because it should be an overview, but in the sources you can read more 『!』『!』『!』)
𝟝.𝟙 ℝ𝕒𝕤𝕤𝕚𝕤𝕞𝕦𝕤
Tesla has several lawsuits on its hands in the U.S., some of which are about systematic discrimination, where you are even penalized if you solve the problem.
𝟝.𝟚 𝕊𝕖𝕩𝕚𝕤𝕞𝕦𝕤
A similar point can be made about sexism. There is talk of a "misogynistic work atmosphere" coupled with sexism, accused are both Teslas and Musk, who is accused of building a racist and sexist system. At Tesla, there is an environment "where it is normal to whistle at them, ogle them, touch them inappropriately, and make advances." also Musk himself seems to sexually harass women, but that in a later point.
(𝟝.𝟛 ℂ𝕠𝕣𝕠𝕟𝕒𝕝𝕖𝕦𝕘𝕟𝕦𝕟𝕘
Musk had written downright contrarian posts on Twitter in 2020 on the subject of Corona, but these have long since been deleted. Even during the height of the pandemic in the U.S., Musk intentionally violated federal regulations and allowed production to continue in his factories).
⬆️muss might be revised as long as the brackets, there is a court case going on
𝟝.𝟜 ℍ𝕒𝕝𝕥𝕦𝕟𝕘 𝕒𝕟 𝔾𝕖𝕤𝕖𝕥𝕫𝕖
However, this is not Mr. Musk's only law-breaking behavior....
Whether we address the SEC, building regulations in Brandenburg, German labor laws, racism or sexism at Tesla/Musk, it is actually permanently against the law, it really amazes me why some people even on Getquin admire this behavior and want other CEOs like Musk. Not only is this extremely toxic within the company (which usually has a negative impact on long-term success), on the other hand, the behavior offers enormous risks for the value of the company Tesla. Whether we are talking about the fact that a factory worth billions may not even be approved or other thoroughly reprehensible behavior, for me personally, a far too large unmanageable risk is taken here with the money of shareholders. It is also a big risk that Tesla with Musk is pulling off a real one-man show. Without Musk, I would not see Tesla at its current overvaluation.
𝟝.𝟝 𝔸𝕓𝕙ä𝕟𝕘𝕚𝕘𝕜𝕖𝕚𝕥 𝕧𝕠𝕟 ℂ𝕙𝕚𝕟𝕒
Similar to all mass-producing automakers, the Chinese market is extremely important for Tesla (25%+ of sales). However, Tesla takes a special role here according to Businessinsider, since the CCP has probably declared Tesla as the main competitor of its own electric vehicles (understandable according to the mass). Last year, an alleged brake problem with Chinese Teslas was conspicuous. While no open connection to the CP can be found, it is nevertheless extremely noticeable when certain topics are spread in a certain way. So we can assume that the Kp wants to shrink Tesla within China in the long run. On the other hand, Musk is building up close ties to the KP, and in retrospect, Musk should have asked the Kp to censor reports on the braking issue. Of course, other companies also try to align themselves with the CP (VW cough cough), but it is acted to a much lesser extent anti-democratically.
𝟝.𝟞 𝕊𝕖𝕩𝕦𝕖𝕝𝕝 𝔹𝕖𝕝ä𝕤𝕥𝕚𝕘𝕥 𝕧𝕠𝕟 𝕄𝕦𝕤𝕜
Elon Musk is accused of sexually assaulting and harassing a Space X flight attendant. He allegedly exposed himself to her, touched her, and then offered to give her a horse if she had sex with him. A lawsuit in court was prevented with a hush money, which was probably intended to sweep the incident under the table. Although there is no conviction (because there is no trial), Musk's own statement speaks for the guilt of the billionaire: Musk once said that he would take legal action against accusations that do not apply to him, in true circumstances he would avoid the legal process and prefer a compensation payment.
𝟝.𝟟 𝕍𝕠𝕣𝕘𝕖𝕥ä𝕦𝕤𝕔𝕙𝕥𝕖 𝕌𝕞𝕨𝕖𝕝𝕥𝕗𝕣𝕖𝕦𝕟𝕕𝕝𝕚𝕔𝕙𝕜𝕖𝕚𝕥
Very new in the Tesla topic is the ejection from the S&P 500 for violating ESG criteria.
Musk called his company the greenest on earth, but this is absolute nonsense. Whether we are talking about the extraction of silicon, the use of drinking water, the violation of environmental regulations in the construction of factories in Germany and China, or a code of ethics for the clarification of deaths as a result of the use of "Autopilot", an ESG-friendly classification has long been a mystery to me. In addition, to call a car manufacturer (whether electric, hydrogen or normal combustion) the most environmentally friendly company in the world borders on mockery.
According to the Wall Street Journal, Sony is currently the most sustainable company.
The sources are a bit mixed up, sry
Sources:
https://www.merkur.de/wirtschaft/tesla-gewinn-fahrzeug-vw-audi-bmw-mercedes-porsche-zr-91287418.html
https://en.wikipedia.org/wiki/Easter_egg_(media)
https://www.deutschlandfunk.de/geplantes-werk-in-gruenheide-das-schweigen-des-autobauers-100.html
https://www.bazonline.ch/warum-sind-teslas-so-haesslich-617891519423
https://www.sueddeutsche.de/wirtschaft/tesla-musk-corona-1.4905148
https://www.handelszeitung.ch/panorama/der-elon-musk-von-china-und-sein-tesla-schreck
https://www.capital.de/wirtschaft-politik/ranking-top-10-der-nachhaltig-gefuehrten-konzerne-weltweit
the Challenge:
https://app.getquin.com/activity/zUEyNebknv/
