Tesla's EV lead: How far ahead is Tesla relative to global rivals like VW Group?

3/15/22 8:00PM

Two of the biggest electric vehicle (EV) makers in the world had news this week.

First, Tesla announced that it was joining the raft of carmakers (and almost every other business) in raising prices, meaning that the cheapest Tesla model will now set you back just shy of $47,000.

Then, Volkswagen Group announced that a number of its electric models, including the Porsche Taycan, were already sold out for 2022 and that the company's EV business is expected to be profitable ahead of schedule. That sounds promising, but how far behind Tesla is VW Group?

Volkswagen Group vs. Tesla

‍With more than 650,000 employees, and 10 distinct brands, VW Group is a giant in global auto manufacturing. Last year the company delivered almost 9 million cars — just shy of 10x the number that electric leader Tesla shipped.But when it comes to all-electric, Tesla is still a decent way out in front, although there are a few ways to think about the same numbers.

‍Perspective

‍On one hand it's easy to argue that Tesla is miles ahead, shipping more than double the number of all-electric vehicles that VW Group managed in 2021.On the other hand, you could argue that VW Group's 453k deliveries in 2021 is close to Tesla's 500k effort from 2020, suggesting that the German giant is only 12-15 months behind Tesla's pace, despite starting later.

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JetBlue is raising its bag fees as fuel costs squeeze airlines

JetBlue will reportedly hike its bag fees, as the cost of jet fuel continues to climb amid the war in Iran. It’s the latest example of carriers finding ways to push rising costs onto travelers.

Last week, United Airlines CEO Scott Kirby said that if fuel prices remain elevated, fares would need to rise another 20% for his airline to break even this year.

As CNBC reported, when one airline raises fees, others tend to follow.

Earlier this month, JetBlue hiked its first-quarter outlook for operating revenue per seat mile to between 5% and 7%, saying that strong Q1 demand helped “partially offset additional expenses realized from operational disruptions and rising fuel costs.” Now, the carrier appears to be making moves to further boost revenue to offset those costs.

Earlier on Monday, JetBlue rival Alaska Air lowered its Q1 profit forecast. The refining margins for the carrier’s cheapest fuel option — sourced from Singapore and representing about 20% of Alaska’s overall supply — have spiked 400% since February.

JetBlue did not immediately respond to a request for comment.