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Tesla's market value has evaporated by more than 220 billion yuan! Or affected by production line downtime

2024-09-17 Update From: AutoBeta NAV: AutoBeta > News >

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AutoBeta(AutoBeta.net)07/22 Report--

According to "Business Insider" and other media reports, on 19 July, due to serious errors in software updates pushed by the US information security giant CrowdStrike, Windows computers using its software around the world collectively fell into a "blue screen" state and could not be used normally, and multinational airlines, railways, banks, and media were all affected, resulting in services being interrupted for a time.

In addition, electric car maker Tesla's US plant was also affected by the incident, with equipment errors in several factories, suspending production lines and forcing some production lines in Texas and Nevada to shut down.

Some of the production lines at the Tesla factory were still running until noon on Friday, but the affected workers had not been informed when they would resume production, the report said. "We have just removed CrowdStrike from all systems," said Elon Musk, chief executive of Tesla. And attached an AI generated picture of "burning the CrowdStrike computer room" to vent his dissatisfaction. In addition, it commented on the failure in a tweet from Microsoft CEO Nadella that the outage paralyzed the car supply chain and had an impact on the car supply chain, describing the incident as "the biggest IT failure in history".

On the same day, Microsoft said that there was a "flaw" in the software update released by the US computer security technology company for Microsoft Windows, which led to the interruption of IT system. George George Kurtz, chief executive of CrowdStrike, later said that fixes had been deployed, but that some customers needed manual updates, which may take more time to return to normal.

Or affected by the news, Tesla's total market capitalization fell by $31.987 billion, or about 232.54 billion yuan, between July 18 and July 19. As of July 19, US Eastern time, Tesla's total market capitalization was US $762.856 billion.

Data show that Tesla delivered a total of 837700 new cars worldwide in the first half of this year, down 6.6 per cent from the same period last year. Among them, Tesla delivered a total of 444000 new cars worldwide in the second quarter, down 4.8% from the same period last year, marking the first time that Tesla's sales declined for two consecutive quarters compared with the same period last year. For reference, Tesla delivered 386800 vehicles worldwide in the first quarter, down 8.5 per cent from a year earlier.

According to Tesla's financial report, Tesla's revenue in the first quarter of 2024 was US $21.301 billion, down 8.69% from the same period last year, the first year-on-year decline in operating income since 2020 and the biggest decline since 2012. Net profit was US $1.129 billion, down 55.07% from the same period last year; gross profit margin was 17.4%, down 1.9% from the same period last year.

At present, the United States and China are the two largest markets of Tesla in the world. Tesla raised the prices of Model S and Model X by $2000 in the United States on July 19. According to Tesla's US website, the price of the Model S all-wheel drive version has been adjusted from $72990 to $74990; the Plaid version has been adjusted from $87990 to $89990; the Model X all-wheel drive version has been adjusted from $77990 to $79990; and the Plaid version has been adjusted from $92990 to $94,990. It is worth mentioning that Tesla's new car registration in California fell 17% in the first half of this year, including a 24% decline in the second quarter, the third consecutive quarterly decline, according to the California New car Dealers Association (California New Car Dealers Association).

As of press time, it is not clear whether the outage of the production line at Tesla's US plant will affect subsequent car production.

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