Comment from Harald Kaiser:
It's great how supposedly honest balance sheets can simulate success. Tesla, which the media likes to jazz up to be a shooting star and shock from all other car companies, is a wonderful example of this.
The Californian automaker announced a few weeks ago that it had exceeded all expectations and was able to deliver a total of 184.800 electric cars in the first quarter of the current fiscal year. Revenue: $ 10,4 billion, profit: $ 438 million. Allegedly, Tesla was able to post a year without a loss for the first time in 2020 and so it will apparently continue in 2021.
Nicenwis'If you look closely at the figures *, which of course only a few do, then the situation looks completely different. Make Money Selling Cars? Not at Tesla! Money is already being made, but through the sale of special certificates. So there is no reason that the Californian car manufacturer could serve as a model for the traditional companies of the competition in purely economic terms. Because they actually make substantial profits from the sale of supposedly socially frowned upon stinkers. And it is precisely these bad exhaust boys who have to earn the money to develop supposedly clean electric cars, as VW boss Herbert Diess recently aptly said. People like to turn a blind eye to how environmentally friendly or hostile the electricity is and how exploitative the raw materials for the batteries are procured.
Because it somehow seems to go against the general electric car hype and on top of that it is laborious to deal with such details and because everything green is in principle uncritical and is rarely questioned, many believers hang on the lips of Tesla guru Elon Musk . He always knows how to skillfully present himself in public as a savior, high-flyer and sole eye-catcher. With an equally sharp and unideological look at the figures, however, it can be seen that the actual situation looks different. Quite different in fact.
The certificate business
Because in truth, Musk's public appearances are mainly fed by one emotion: fear. Fear for his business with cars, fear for his standing, but above all fear for the business with certificates. More precisely: emissions certificates. Because the more electric cars from competitors come onto the market, the more he has to fear that he will soon be able to earn much less or no more dollars from selling these emissions rights. Which would mean: That the fat minus that Tesla has been making for more than ten years in the pure car business would suddenly come to the fore.
These certificates are so-called pollution or emission rights. In the USA, the regulation applies that since the beginning of 2020 the new models of the US carmakers have only been allowed to emit an average of 95 grams of carbon dioxide per kilometer. Anyone who builds cars that do not produce any direct emissions, such as Tesla, receives government bonuses in the form of credits, which are also called certificates. And all those manufacturers whose cars emit more Co2 than allowed have to pay hefty fines to their father's state. However, the “exhaust gas” companies can escape them if they buy these certificates from Tesla, for example - which is allowed. It goes without saying that Messias Musk uses this source of income to cover up the actual imbalance in the cash register.
Will the certificates disappear again?
According to media reports, FiatChrysler alone, which is now called "Stellantis" together with Peugeot, paid Tesla around 2019 billion US dollars for these pollution rights between 2021 and 2,4. Similar to the Volkswagen Group, which according to the industry service "deep red. And it goes on like this. This fund raised an additional $ 2021 million * in the first quarter of 518.“, Is said to have also bought such papers from Tesla - at an unknown amount. The bottom line is that these certificates brought Tesla $ 2020 billion in 1,6 alone. Without this income, the balance sheet would be
But: "These certificates will disappear", quoted the US television broadcaster CNN, the analyst Gordon Johnson of GLJ Research. Because the more other car companies switch to electric cars, the fewer penalty certificates they will have to buy. General Motors, Volkswagen, BMW and Mercedes recently made it clear that their goal is the all-electric turnaround. In other words: It is foreseeable when the howling and chattering of teeth at Tesla will get really loud. It is quite possible, however, that precisely this fear of economic death will lead to two things: In order to distract from the pending problems, Musk and / or Tesla will swallow even more public noise for precisely that reason - something for the guru and his Believers would be the greatest possible defeat.