Yesterday was bad, Elon Musk could soon be the richest man in the world on paper, and rhodium. All of that and in morning shift For January 7, 2021.
I would say that yesterday was one of the best days in American history, but everyone has already said that. This is in any case much credit to the herds of nobles. As they say, keep calm and drive.
First Gear: Auto People React
GM CEO Mary Barra tweeted:
Ford CEO Jim Farley also tweeted:
U.s Lawyer of Eastern District of Michigan (who prosecuted UAW corruption scandal) Also tweeted:
UAW President Rory Gamble made a statement:
The National Association of Manufacturers also weighed in, as everyone was waiting for what the National Association of Manufacturers had to say:
All of this will soon become a distant memory, and you get the feeling that it was always going to end like this, with a cheap and pointless crime that temporarily delays the adults in the conduct of their duties. four people Now reported Dead.
Second gear: car sales are bad in Europe
The cause is epidemic. Also we still have an epidemic to worry about from the swarm of nobles of the Capitol.
According to industry associations and transport ministries, registrations in Germany, Britain, France, Italy and Spain, the five largest car-buying countries in Europe, fell by nearly 25% last year. The revival of Kovid-19 prompted many governments to re-implement lockdown measures, which are likely to drag on demand in early 2021.
Based on preliminary data from the Federal Motor Transport Authority, Germany’s new car registration dropped nearly 20% in 2020, which will be posted in wide numbers on Friday. Data released earlier this week showed sales declined 32% in Spain, 29% in Britain, 28% in Italy and 25% in France. The UK auto industry’s trade group said the country’s decline was the worst since 1943.
Data show that the impact of coronovirus was on the car industry in Europe relative to China and the US last year, where car buying was more flexible. The weakness in demand threatens the euro-zone economy, which relies heavily on the manufacturing sector in the second half of last year.
“We are in a deep crisis,” Pierre-Louis Debar, head of data for the French car-industry group CCFA, said in an interview. “It’s broader than anything we’ve seen in the past.”
Third Gear: Rhodium? Rhodium!
Rhodium is used in catalytic converters, and a lot of countries these days are concerned with cleaning the air. It has sent the price of skyrocketing rhodium.
From The Financial Times:
Car companies in Europe and China are using ever more rhodium to meet tougher clean-air legislation, as well as supplies from South Africa, the largest producer, hampered by the proliferation of Kovid-19.
Benchmark values of Rhodium, the world’s largest car market, aided by the economic recovery in China, have raised a record $ 200,790 an ounce by more than 200 percent since its March 2020 low. This means that one kilogram of rhodium is worth about half a million pounds.
Car companies said, “You have a massive scramble for the metal”, said Nicholas Hopps, co-manager of the Coronation Resources Fund. “If you don’t have enough rhodium then you can’t meet the emission law and we know how the fine is for those people.”
Fourth gear: Elon Musk
The value of Tesla on paper is huge, or over $ 700 billion. For reference, Ford is valued at approximately $ 34 billion. On paper, Elon Musk, CEO of Tesla’s Value, is the world’s richest person.
A 2.8% rally in Electric Carmacar’s share price on Wednesday pushed Musk to within $ 3 billion of Amazon.com founder Jeff Bezos, who currently tops the Bloomberg Billionaires Index, ranking the world’s 500 poorest. Is in place.
The South African-born engineer had total assets of $ 181.1 billion on Wednesday, a shame for Bezos, who topped since October 2017. Musk also rivals Bezos as chief executive officer of Space Exploration Technologies Corp. or SpaceX. Owners of Blue Origin LLC in Private Space Race.
The milestone for Musk is an extraordinary 12 months. Their total wealth has exceeded $ 150 billion in the last one year, possibly the fastest run of wealth creation in history. Tesla’s steep rise in share price was an unprecedented rally, similar to the 743% increase in 7 consecutive profits in the past year, joining the S&P 500 index, and the enthusiasm of Wall Street and retail investors.
Alon’s salary is Mass stock tied Depending on Tesla’s future he may or may not ever be. But it is always good to have the most of something.
5th gear: Model Y sales are large in China
There is a waiting time for the car, which basically met expectations in terms of sales. Said expectations were huge.
An original version of the now purchased electric vehicle will be delivered in the second quarter, and a performance version in the third quarter, Tesla’s website showed. When Tesla announced the price last week and began selling, it said delivery would take place this month.
A strong start to the vehicle will be a boon for Tesla as it tries to maintain its lead in the premium segment over rivals such as NIO Inc. Tesla CEO Elon Musk has said that the Model Y has the ability to make all the other vehicles it manufactures. And the company set vehicle prices below some other markets to maintain a competitive edge.
A Tesla representative said via WeChat on Thursday, “Based on order intake and our production plan, we have adjusted the latest order’s Model Y delivery time to the second quarter.”
Obverse: Balloon? Balloon!
Neutral: How are you?
I saw the news last night, which I don’t normally do for mental health reasons. it was bad! But wait there, we’ll be all right.