If you don't know, his something like 30 Million shares are in his family's revocable trust, not in name.
Galves spoke highly of A123 Systems, Ener-1, Fisker Motors and other green tech in the past. Wonder why he left DB and ended up at CS.
Via the right shipping situations, staging, party tents and last-minute delivery schedules and maybe a new fleet of interns for delivery "pushes" into December - sure. Not impossible. But manipulated to "fit" the statement.
They just need to do a worldwide delivery day of 274 vehicles at the end of December for it to be truthful. Annualized @ 100,000.
Yahoo says the company is 1 person. And there is no reported revenue. I worked for a company once that eventually turned into a one person "boxes in someone's basement" situation. There are few that come out of that situation.
Vin data does show seasonality. July Vin #s are well down from May and June. This is when you bring out new model tweaks and start the incentives. Must be vacations.
This must be the thing he mentioned at Q1's ER call regarding "the secret weapon that would be deployed later in the year" Bribe as a weapon? $1K current and $1K future credit isn't pennies. I suspect they want people to do this to get a credit against an eventual Model 3 for their kids or their pool boy.
GM has their own problems and have done far more than $1000 bribes to lure in buyers.
The backlog is huge for those who want to believe it. Demand is off the charts. It is just that those orders just have not been placed yet. I believe that the demand is based on the level of people "considering making a decision to possibly put an order in by year end". That is what they call "demand performance disorder" or DPD. With the $1000 bribe from their friends, these folks will get off the fence. $1000 checks will be written on dark blue checks and sent in plain brown envelopes.
And will they have ads in Amway catalogs and SkyMall? Amway would be a good way to do and you can get the MLM bonus program going where "top of the pyramid" can get even more founders vehicles - throw in some walls and snakes for quarter-end push bonus action.
Getting to 17k deliveries would require some going to europe by dec 31 unless they build thousands of inventory cars first before customer cars. Not that they haven't pushed back customers' cars to put out inventory before, however... They have no reason to go crazy trying to hit some big number. They say they want to do it right. Doing it wrong means loss of face, loss of pre orders and a start of downward spiral. 10,000 done well is better than 17,500 in a hurry. Remember the drivetrain units...and early build quality of the first pearls. Pearls relates to each of the first few thousand cars was unique with their own characteristic issues.
Obama had a similar plan. 1 million plug-ins on the road by (tada!) 2015. And they missed that by a long shot.
From the 2015 State of the Union review - by Brad Tuttle:
In the 2011 State of the Union, President Obama called for 1 million electric plug-in cars to be on American roads by 2015. Well, it's 2015, and we're less than one-third of the way there. What happened?
In Tuesday night’s State of the Union Address, President Obama discussed how “America is number one in oil and gas,” and said that “thanks to lower gas prices and higher fuel standards, the typical family this year should save $750 at the pump.” There was no mention, however, of an automobile-related goal set in the SOTU four years ago, when the president pushed for 1 million electric plug-in vehicles to be purchased by consumers by 2015.
Politics = trying to continue to have an ever-expanding economy. This takes people. Primarily babies. Spending. Velicity of money. If we get amnesty for illegal aliens, you get more over the table exchanges, more taxation of transactions, more government. It's all about taxes that the government thinks it is due.
The economy doesn't change overnight. Generally, news is like throwing water balloons at an air-craft carrier. But big trading firms know that market emotion plays on various retail investors and they will smash the market on some news like China bubble popping or oil. Oil is big but lower cost oil means more money in peoples' pockets and should help consumer goods companies and foods and auto. At least in the USA while the general flow of money is almost consistent. Until the casino changes the rules, it's still the same casino.
days like yesterday really can hurt because it appears that all is going to heck fast. I sold my block of (an auto stock not TSLA) yesterday thinking things were heading south. Then a big V-bottom happens. It's almost worth not looking at all. The overall trend is still up even with big dips happening. When S&P 500 drops below 1950 and Vix over 20+, things will be considered troublesome. The talking tv-heads kept saying that H2 would be better than H1. And now, that's where we are. Let's see if they were just blowing smoke. it's a frothy market and of course we need results to keep it up. Seems a bit tight, though.
That is how this market works. With enough muscle in the market, the ability to produce 4-5% swings a number of times a year leads to possibility of 15+% gains annually along with volatility in options.