With more evidence about Tesla’s Big China Bonanza streaming in, it’s apparent that it either skipped Elon Musk’s mind, or he just doesn’t want to share, at least not in public with average investors. Yesterday, JL Warren Capital, China-watcher, delivered a new research note to customers, offering background, extension, and analysis to details of what was availed over the weekend. In the record, JL Warren inspects “why TSLA made massive sales (Not measured by profit, but by shipment) in China 2016.” The record reveals the intelligent information that’s usually not available to the small investor. It also stirs some serious questions, like does Elon Musk think you’re a fool?
To roundup, Tesla Inc. sent its 10-K yearly record to the SEC on March 1. Deep in the description, is a statement saying that last year, the company had a whopping $1.065 billion of income in China. In previous years, Tesla Inc. performance in the Middle Kingdom was characterized as either “disappointing,” or “dismal,” or “weak.” No explanation was given concerning the sudden jump.
A week prior to that, Tesla issued its stakeholders with quarterly letter espousing trivia like awards from two German magazines and about its batteries powering American Samoa. However, if you try finding the letter for “China,” you’ll get a “No Matches were Found” response.
China is, by a considerable margin, the largest car market in the globe; similarly, they are the world’s biggest for electric vehicles. Car manufacturers across the world bet their future on China. One year ago, Tesla made far less income in China’s 1.4 billion client market compared to Norway, whose population is roughly half that of NYC. A year later, a line in books reads that China is Tesla’s most significant market behind the US, and no one tries to inquire about how that magic happened?
Back in 2014, Musk declined to reveal sales information by region, claiming that “media reads too much into the deliveries.” his egotism gives wealthy investors an unfair advantage; there are different ways of getting to the undisclosed data apart from reading a 10-K, but for an immaterial fee.
Forbes readers got a quick view of the data, over the weekend, and in the hastiness, an error occurred into the data set; which has now been corrected.
It would be extremely useful if Tesla would avail the data to all its shareholders, rather than asserting time and again that they are too stupid to interpret the spreadsheet.