TeslaInc. TSLA has emerged as a force to reckon with in the automotive industry, thanks to execution and external factors that support faster adoption of electric vehicles.An analyst recently shared data that highlighted how the Elon Musk-led company has risen in ranks over the years.
What Happened: Tesla has increased its sales from a mere $0.4 billion 10 years ago to $81 billion currently, said Charlie Bilello, chief market strategist at CPI Wealth noted. In comparison, legacy automakers General Motors Corp. GM and Ford Motor Co. F grew topline from $152 billion and $134 billion, respectively, 10 years ago to $157 billion and $158 billion, he noted.
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The numbers suggest while Tesla grew revenue by 20,150% over the past decade, GM and Fed saw revenue growth of 3.3% and 17.9%, respectively. The net income comparison highlights Teslas supremacy even more. GMs net income increased from $6.2 billion to $10 billion over 10 years. Over the same time frame, Fords bottom line turned from a profit of $5.6 billion to a loss of $2 billion.
Tesla has increased its net profit from a negative $0.4 billion to $13 billion. It now makes more money than GM and Ford combined.
The comparison caught the attention of none other than Musk and he mused, How times have changed.
How times have changed Elon Musk (@elonmusk) February 8, 2023
Why Its Important: The lead Tesla has over its legacy counterparts which are taking baby steps toward electrification is only going to grow, provided it can continue to execute. The company has had a head start and is way ahead of the rest of the pack, which is trying to make meaningful inroads into the industry. Tesla also has other subsidiary businesses, including energy and insurance, and it has the most extensive charging infrastructure and network which is an added advantage for vehicle sales.
From the profit perspective, the scale of operation and geographically well-diversified production give the Austin, Texas-based company an edge.
Ford and GM, therefore, have a lot of catchups to do if they have to pose a potent threat to Tesla.
Tesla closed Fridays session down 5.03% at $196.89, according to Benzinga Pro data.
Read next:Elon Musk Says Tesla 'Master Plan 3' Update For Sustainable Energy Coming In March: 'The Future Is Bright'
Flight delays are expected as the UK sees more heavy fog.
It comes after 20,000 people were affected by airport disruption on Thursday, according to travel journalist Simon Calder.
“Temporary air traffic restrictions have been put in place due to fog causing poor visibility. Some flights may be delayed throughout the day,” a spokesperson for Gatwick Airport said.
“London Gatwick apologises for any inconvenience. Passengers should contact their airline for further information,” they added.
At Gatwick 35 departures scheduled up to 11am are delayed and 26 flight arrivals are delayed up to the same time. Two flights are cancelled. At Heathrow 20 flight departures scheduled to leave before 11am are delayed. At Manchester airport 16 arrivals are delayed up to 11am.
Speaking to Anna Jones on Sky News Breakfast about the disruption yesterday Mr Calder said: “We had at London City Airport, at London Heathrow, the busiest in Britain, at London Gatwick, the second busiest, more than 40 cancellations in and out from each of those airports.”
The thick fog will continue on Saturday according to the Met Office, with some areas seeing visibility reduced to just 100 metres.
The worst of the fog is forecast to hit the South East and central England, while East Anglia and parts of South Wales will also be affected.
Forecasters have not issued any fog weather warnings yet but the Met Office said it will monitor the situation across the weekend.
Met Office meteorologist Liam Eslick said: “It’s that time of year when people are travelling around the country a lot and there are a lot of people on the roads.
“There is a lot of fog covering much of England, mainly the South East and central England, but the rest of the country is seeing quite a bit of thick fog too.
“It will be pretty murky on Saturday morning and there will still be fog patches that will take a little longer to clear.”
Meanwhile, there is a yellow warning in place for heavy rain in parts of Scotland for Monday and New Year’s Eve on Tuesday, leaving the start of 2025 “distinctly unsettled”.
Edinburgh’s Hogmanay celebrations could face “significant disruption” from rain, with organisers warning audiences to “prepare for all weather, wrap up warm and double-check with your travel operator for the latest updates.”
The yellow warning could see as much as 140mm (5.5in) of rain in places, as other parts of the UK will likely see rain, wind and possibly even snow later on next week.
The Met Office added that “more warnings are likely to be issued”.
At Heathrow, British Airways was forced to cancel a handful of flights due to fog on Friday, while others were delayed.
Flights at both Gatwick and Manchester Airport were disrupted, with delays of up to three hours at Gatwick, and some passengers were diverted to other airports.
“The diversions were absolutely extreme,” said Mr Calder. At Teesside Airport, flights were diverted to Newcastle, Aberdeen and even Dublin.
This could continue into the weekend if the misty weather persists.
A spokesperson for the UK’s main air traffic control provider Nats said it had implemented “temporary air traffic restrictions” at several airports on Friday due to the fog.
Can I get compensation if my flight is delayed?
If your flight is affected by the disruption, you won’t be able to get any cash back, according to Mr Calder, as “bad weather is beyond the airline’s control”.
“However, every airline that cancels a flight is obliged to find for its passengers an alternative flight as soon as possible,” he said.
While the fog likely won’t remain past the weekend, people should not hold out hope for sustained sunshine with wet and windy conditions expected for much of the country, the Met Office said.
ARCADIA, Calif. — All-Stars Alex Bregman and Walker Buehler have teamed as owners of a 3-year-old colt that won for the first time at Santa Anita on Friday.
March of Time defeated four rivals by 2¼ lengths to win a six-furlong sprint race worth $60,000 that was designated for horses that had never won. The $60,000 purse was representative of the quality of the horses entered.
Trained by Hall of Famer Bob Baffert, March of Time paid $4.60 to win as the wagering favorite. The colt took over the lead in the upper stretch and put away eventual runner-up Santarena with a furlong to go.
Bregman, also a free agent, spent the past nine seasons playing third base for the Houston Astros and helped them to a pair of World Series titles.
March of Time was previously owned by the high-powered trio of Michael Tabor, Mrs. John Magnier and Derrick Smith of Coolmore. The colt finished second in his racing debut a year ago.
Information from The Associated Press was used in this report.
The world’s best golfer has suffered a freak injury while cooking Christmas dinner, forcing him to undergo surgery.
Scottie Scheffler sustained a puncture wound after cutting the palm of his right hand on broken glass.
The world number one required surgery as small glass fragments remained in the palm after the accident.
The injury has forced him out of the first tournament of the season, next week’s The Sentry in Hawaii.
But the 28-year-old has been told he will recover in three to four weeks, and he hopes to be back in action at The American Express tournament in California on 16 January.
Scheffler won an Olympic gold and seven PGA Tour titles in the last year and was recently named PGA Tour’s Player of the Year for a third season in a row.
In May, he was arrested by police during the US PGA Championship after he was accused of trying to drive around a traffic jam caused by a fatal accident.
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Just hours later, he was released and allowed to return to Valhalla Golf Club in Kentucky to play his second round of the tournament.
Criminal charges against Scheffler were later dismissed due to a lack of evidence and a police officer who arrested him was disciplined for not having his bodycam on at the time of the incident.