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Garage Gurus | How to Put a Tesla Model 3 or Y Into Service Mode
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By shelitaauto
Source: Gasgoo
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link hidden, please login to view Cathie Wood of Ark Investment Management said Tesla’s move into the more profitable business of self-driving taxi platforms would boost its share price by about 10 times. That echoes years of optimism about Tesla’s self-driving business.
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Wood believes the self-driving taxi ecosystem will be worth $8 trillion to $10 trillion globally, with platform providers such as Tesla taking half of that. Speaking on the Tiger Money podcast, Wood revealed that investors are shifting the way they value Tesla, not just as an electric car maker, but also the potential of its self-driving taxis. Wood said: “The autonomous taxi platform is the fastest growing AI project today, and Ark is primarily valuing it based on Tesla’s autonomous driving potential. If we’re right, there’s plenty of room for Tesla’s stock price to grow.” Optimism over Tesla’s efforts to bring self-driving taxis to market has helped its shares recover a 43 per cent fall in the year to April 22. Wood said the self-driving taxi network will provide A “winner-takes-all” opportunity, with providers that can get passengers from point A to point B in the safest and fastest way winning the lion’s share of business. She added that autonomous taxi network providers will be able to capture 30 to 50 percent of the revenue generated by fleet owners on the platform, resulting in “growing explosive cash flows” and profit margins of more than 50 percent. This is different from the “make and sell” or “one-off” business model of traditional car manufacturing. “We think people are missing that: the size of the opportunity, the speed of expansion, and how profitable it will be,” Wood said. She expects Tesla to dominate the U.S. self-driving taxi market. Last week, Tesla had a weighting of more than 15% in the $6.5 billion Ark Innovation ETF. Wood said the fund has taken some profits off Tesla, allowing the stock to trade above its normal cap because they believe Tesla is about to reveal more information about its self-driving taxi project. According to a Bloomberg report on July 18, Tesla has delayed the launch of its self-driving taxi by two months to October, originally scheduled for August, to give the team more time to produce more prototypes. The news sent Tesla shares down 8.4%, their biggest one-day drop since January. But Wood doesn’t mind. “We may be closer to the self-driving taxi opportunity than we are further away, and Musk may want to do better and think it is possible by October,” Wood said. Fang’s valuation model does not yet take into account Tesla’s potential in China or in humanoid robotics and energy storage. In April, Tesla, which reached a mapping and navigation deal with Chinese tech giant Baidu Inc and met data security and privacy protection requirements, has already received approval in principle from Chinese officials to deploy its self-driving assistance system to China, the world’s largest auto market. -
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By shelitaauto
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In the second quarter,
link hidden, please login to view’s electric vehicle sales in the United States again surpassed General Motors, ranking second in the U.S. electric vehicle market sales, and is on track to close the gap with Tesla.
Ford Mustang Mach-E; Image source: Ford
In the second quarter of this year, Ford sold 23,957 electric vehicles in the United States, a 61% increase from the same period last year, when total electric vehicle sales were 14,843. Meanwhile, Ford’s sales of hybrid vehicles rose 55 percent year over year. However, sales of internal combustion engine cars were down 5 per cent year on year.
Ford saw double-digit sales growth for several of its electric vehicles. Sales of the Ford F-150 Lightning rose 76.9% to 7,902 units. While new competitors such as the Tesla Cybertruck and the Chevrolet Silverado EV RST have all hit the U.S. market, the Ford F-150 Lightning remained the best-selling electric truck in the U.S. in the first half of the year, with 15,654 units sold.
Second-quarter sales of the Ford Mustang Mach-E were up 46.5% year-over-year to 12,645 units. In the first half of this year, 22,234 units of the Mustang Mach-E were delivered, the best performance ever. Sales of Ford’s E-Transit electric van continued to climb in the second quarter, rising 95.5 percent to 3,410 units from a year earlier.
In the first half of 2024, Ford sold a total of 44,189 electric vehicles in the U.S. market, up 72% from 25,709 in the same period last year.
Ford CEO Jim Farley said the automaker is shifting to smaller, more affordable electric vehicles to close the gap with Tesla and fend off competitors like BYD worldwide. Referring to Americans’ love affair with “larger vehicles,” Farley said smaller electric vehicles are “very important to driving the decarbonisation of American society and the development of electric vehicles.”
Ford’s surge in electric vehicle sales in the US market is enough for it to continue to overtake General Motors. In the United States, GM delivered 21,930 electric vehicles in the second quarter, compared with 38,355 in the first half of 2024.
GM is also ramping up production by introducing new models, with electric models such as the Chevrolet Blazer, Equinox and Silverado coming to the U.S. market. While Tesla did not give specific sales figures by region, its second-quarter electric vehicle sales worldwide exceeded expectations, delivering 443,956 electric vehicles and remaining №1 in the U.S. market.
As competition in the U.S. electric vehicle market intensifies, other competitors, including Hyundai and Kia, also set new EV sales records in the second quarter. Hyundai Motor, for example, set a new sales record with its IONIQ 5 model, which sold 18,728 units in the first half of the year. Meanwhile, sales of Kia’s first three-row electric SUV, the EV9, are also climbing.
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By Counterman
link hidden, please login to view Member, The Service Company, announced it acquired Brake Spring Alignment (BSA) of Ohio. With over three decades in business in Springfield, OH, “this reputable establishment extends the Service Company’s geographic reach eastward toward Columbus and solidifies its presence in the greater Dayton, OH market,” according to link hidden, please login to view. The Service Company now offers four locations, providing coverage from Greenville to Springfield. The acquisition of BSA also broadens the company’s service portfolio, complementing its existing heavy-duty truck and equipment repair solutions, the company said. In addition to diesel engines, EGR and DPF, exhaust, HVAC, transmission, clutch, and driveline services, the new Springfield location introduces frame-down service, steering suspension, brake, and wheel-end solutions.
“Known for its loyal customer base and comprehensive parts and service offerings, BSA of Ohio aligns with The Service Company commitment to serving the trucking industry of Ohio,” said Luke Todd, president of The Service Company. “The acquisition bolsters our capacity, with 40 bays now available to deliver unparalleled service to the market.”
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