Numbers, numbers and more numbers will dominate the news this week!
First we’ll start with a few more rounds of earnings reports, beginning with EV startup Fisker on Monday when Henrik Fisker’s second chance for success reports its fourth quarter and full year results.
The only black we’ll see is the color of the font on the report, but that’s ok since the company’s still in the testing and development stage.
On Tuesday at 2 p.m. we’ll get earnings from another EV startup, Rivian. Again, we’re unlikely to see any profits, however, Rivian’s results should offer insight into how the company is progressing — or if it’s not.
Finally, the next round of numbers we’ll be looking at come at the end of the week when the automakers announce their February sales results.
It won’t just be numbers from EV makers this week though as Tesla’s annual Investor Day will give those who are watching and waiting for the next bit of good news to drive up the stock price a chance to ask CEO Elon Musk questions.
He’s expected to talk in more detail about the company’s growth, especially a cheaper entry, possibly the Model 2, to compete with a wave of sub-$30K EVs set to hit the U.S. market in the next 18 months.
Automakers are expected offer up some good news with sales increasing as much as 4% on a year-over-year basis depending upon which set of analysts you’re listening to. One area where they all agree is that rising inventory levels are making the increase possible.
Once again, fleet sales are expected to help carry the month as they did in January. However, the overall pace of sales will be down, according to Cox Automotive, which predicts February will come in at a seasonally adjusted rate of 14.4 million units compared to January’s 15.7 million units.