The company’s sales in January and February are down nearly 43 percent year over year, according to new registration data from the EU. Meanwhile, overall electric vehicle registrations are up 28 percent across the continent, as EVs capture 15.2 percent of total EU market share. People still really like EVs, just not the one associated with Elon Musk.
The Financial Times compared the electric automaker’s capital expenditure in the last six months of 2024 to its valuation of the assets that money was spent on, and discovered that $1.4 billion has “gone astray.”
Looking at last year, in the third and fourth quarter combined, Tesla spent $6.3bn on “purchases of property and equipment excluding finance leases, net of sales” according to its cashflow statements. Over on the balance sheet, however, the gross value of property, plant and equipment rose by only $4.9bn in that period, to $51bn.
$6.9 billion minus $4.9 billion equals $1.4 billion, or the sum the paper says appears unaccounted for. It’s a bit complicated, but unless Tesla reports the missing money in its next earnings report, it could indicate that something fishy is going on — beyond a stock collapse amid a global protest movement.
I guess someone at the Department of Defense is just combing through every government website and inserting “DEI” in any web address — which breaks the link — related to people of color. They did it to the Black Civil War soldier who was portrayed by Denzel Washington in Glory. They did it to Jackie Robinson and the Native American Code Talkers and Mexican American Medal of Honor recipients. Just add “DEI” to the URL and poof: 404 error. It’s both horrible and wildly inefficient.
[taskandpurpose.com]
