@threadreaderapp @RationalEtienne Great thread, @anonyx10 . Tacking on a few of my thoughts:
“...selling $137.2 million in non-ZEV regulatory credits to traditional automakers. It also sold $52.3 million in ZEV credits.”
“...selling $137.2 million in non-ZEV regulatory credits to traditional automakers. It also sold $52.3 million in ZEV credits.”
@threadreaderapp @RationalEtienne @anonyx10 To read this article or the twitter posts of unhinged shorts, you would think it was some sort of crime to sell ZEV or GHG credits.
It is not Tesla’s fault that competitors who had the same business opportunity to sell EVs and eligible credits chose not to.
It is not Tesla’s fault that competitors who had the same business opportunity to sell EVs and eligible credits chose not to.
@threadreaderapp @RationalEtienne @anonyx10 The question of the single entity representing more than 10% of Tesla Accounts Receivable was answered by Deepak on the call and again by the Tesla spokesperson cited in the article. This is only “a question” to “Wall Street analysts” so dense that they didn’t understand either. 
@threadreaderapp @RationalEtienne @anonyx10 If you are still confused, let me help: Many of the buyers who took delivery of their Tesla on Saturday/Sunday Sep 29/30 financed through one of Tesla’s partner banks. Those sales were recorded at delivery, but the bank didn’t actually transfer funds to Tesla for a few days.
@threadreaderapp @RationalEtienne @anonyx10 Because the balance sheet is a snapshot in time and the quarter ended on a Sunday, the Accounts Receivable balance reported is correct, but this 10% A/R is a huge nothing burger because that bank’s payments came through routinely, a couple of days after the quarter ended.
@threadreaderapp @RationalEtienne @anonyx10 This “head-scratcher” isn’t troubling at all to anyone who thinks through changing ASP mix. From Q2-Q3, Tesla greatly increased its mix of highly-optioned Performance AWD Model 3s. The value of finished goods inventory *per vehicle* is greater when sales mix becomes higher ASP.
@threadreaderapp @RationalEtienne @anonyx10 I have 2 answers for the final question “Why not (borrow more)?”
1) Tesla has announced that they will borrow to build gigafactories, but from local banks. But if you’d rather believe breathless shorts on Twitter, be my guest.
2) Because screw you, Wall Street, that’s why.
1) Tesla has announced that they will borrow to build gigafactories, but from local banks. But if you’d rather believe breathless shorts on Twitter, be my guest.
2) Because screw you, Wall Street, that’s why.
