Contestant wins Tesla Model Y on The Price is Right
Not a Tesla App
In January 18th, 2023’s “Geniuses” episode of The Price is Right, they unveiled a Tesla Model Y and a 220v connector as a showcase prize, alongside a virtual game room.
In order for a contestant to win the showcase prize on The Price is Right, they must bid as close to the actual retail price as possible without going over. If their bid is closer to the retail price than the other contestant’s bid, they win.
The contestant, named David, put in a bid of $77,000 for the Model Y and gaming chairs. The price came in at $78,500, so David won!
The Model Y David won is a white Long Range model with 331 miles of range and Enhanced Autopilot, a $6,000 upgrade option.
How does 'The Price is Right' obtain their prizes?
Tesla spends no money on advertising or commercials. This is on purpose and has worked well in Tesla’s favor because they’ve ballooned to becoming one of the most sought-after, respectable, and valuable automotive companies in the world. Tesla’s products speak for themselves… literally.
According to Chris Johnson, a former IRS lawyer, on Quora, The Price is Right doesn’t purchase prizes. Instead, they’re all given to the show by various manufacturers to give away to the contestants. “At the end of the day, giving away these prizes is essentially glorified advertising,” Johnson writes on Quora. “Did you notice how each and every prize is described in intimate detail? The companies giving the prizes to the show hope that the millions of people watching [will] like what they see, and go out and buy the very same items themselves. If a company ends up selling just one of the same items that was featured on the show, they recoup most of what they gave away.”
The Price is Right has been giving away cars and high-expense products for many years. The most expensive prize was, according to CBS, an Audi R8 V8 Spyder Quattro S Tronic.
Not the first or second Tesla on 'The Price is Right'
This Tesla Model Y is the third Tesla that has appeared on the popular game show. On April 22nd, 2010, The Price is Right gave away a first-generation Tesla Roadster. Drew Carey, the show’s host, said that it was worth more than $112,000. Adjusted for inflation, that’s roughly $152,500 today, which is about the price of a spec’d out Plaid Model X.
Carey also mentioned that he has a friend that has a Tesla Roadster, and it drives like a slot car. “It’s fantastic!” he said with a smile.
At the time of that airing, Tesla had just started mass-producing the Roadster. It was based on the chassis for the Lotus Elise and was the first highway-legal serial production all-electric car to use lithium-ion battery cells, according to CleanTechnica.
In May 2019, a contestant won a black Tesla Model 3. Before unveiling the vehicle, Carey asked Gregory, the contestant, if he was going to share his winnings with his friend Michael. “We’re splitting everything,” Gregory responds. “Ah, man, I don’t know,” Carey answers with a laugh.
Watch the full “Geniuses” episode of The Price is Right on CBS.
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Tesla's fourth quarter and 2022 earnings call with investors was mostly good news unless you were planning to drive a Cybertruck soon. While company executives eagerly jumped on every question asked by investors, there was a noticeable pause when a point-blank question was asked about Cybertruck's mid-year production date.
Elon Musk responded "um, we do expect production to start, I don't know, maybe sometime this summer. But I always like to try to downplay the start of production because the start of production is always very slow. It increases exponentially, but it's always very slow at first. So I wouldn't put too much thought in start of production."
Volume Production Next Year
If the millions of people with Cybertruck reservations were in attendance, you might have felt the air leave the room. The previous belief was mass production would start by the end of 2023. There may be some stainless-steel beauties on the road by then, but only a few. "It's kind of when does volume production actually happen, and that's next year," said Musk.
Perhaps sensing some disappointed buyers, Lars Moravy, Tesla's Vice President of Vehicle Engineering added, "(I'd) like just to emphasize on that, we've started installation of all the production equipment here in Giga Texas, castings, general assembly, body shops. We built all our beta vehicles, some more coming still in the next month, but as you said, the ramp will really come 2024."
The Cybertruck Will be Elon's Next Car
Cybertruck was originally announced in 2019 at the memorable event that included the unbreakable armor glass smashing. Musk was wearing the smashed glass Cybertruck t-shirt while taking questions from investors. While the wait continues, he is adamant that it will be worth it, "So it's an incredible product. I can't wait to drive it personally. It will be the car that I drive every day… it's just one of those products that only comes along once in a while, and it's really special."
The original release deadline was set for 2021. However, the production date has been delayed due to unforeseen circumstances, like a global pandemic. Nevertheless, it is a positive sign that beta vehicles have been produced. Images of what appears to be a Cybertruck were leaked a few months ago.
Recently, chief designer Franz von Holzhausen did confirm that the Cybertruck was ready for production, but it's a work in progress. Every Tesla beta product gets thoroughly examined and meticulously reviewed before the next step. But at least it's a step in the right direction.
Tesla set new records in production and deliveries while beating analyst expectations.
Tesla published their Q4 2022 and full-year financial results, setting new records in production and deliveries while beating analyst expectations. Tesla’s annual profit rose to $12.6 billion in 2022, from $5.5 billion in 2021. Annual revenue rose to $81.5 billion, from $53.8 billion the year prior. Tesla reported fourth-quarter revenue of $24.32 billion beating analysts' $24.07 billion estimate. The automaker also reported earnings per share of $1.19 beating analysts' $1.12 estimate.
Tesla’s stock rose more than 5% in after-hours trading following the earnings release and surged more than 10% the next day.
Tesla's Q4 2022 revenue set a new record for the company, up 59% from a year earlier. In addition to automotive revenue of $21.3 billion, Tesla recognized $324 million of deferred revenue from the company’s driver assistance systems.
FSD Beta Numbers
Tesla reported that 90 million miles have now been driven with FSD Beta, up from 58 million miles in the previous quarter. The company also confirmed that they have about 400,000 FSD Beta users in North America, a sizeable increase since the last report. With such a steep increase in miles driven and FSD Beta becoming widely available in North America, Tesla is making significant progress with its autonomous driving software.
In late 2022 and into this year, Tesla began cutting prices on its cars globally. Elon spoke about how recent price cuts have fueled a surge in demand for Tesla: “Thus far in January we’ve seen the strongest orders year-to-date than ever in our history. We’re currently seeing orders of almost twice the rate of production.” He added: “These price changes really make a difference for the average consumer.” Tesla acknowledges that average sales prices have to decrease over time because affordability is part of Tesla's mission to grow into a company that sells multiple millions of cars annually.
Price cuts will impact profitability, but margins should remain healthy, Tesla CFO Zach Kirkhorn affirmed. Tesla has wider operating margins than the industry average, which allows them to make such price cuts.
Elon issued an uncertain forecast for 2023, saying Tesla planned on 1.8 million vehicles for the year without specifying whether that was a target for production or deliveries. If the company were to deliver 1.8 million vehicles in 2023, that would result in 37% annual growth.
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