Tesla .. Missing the mark yet again

[RDJ]

So Wall Street has been sucking Elon Musk's dick for awhile now and they are still on their knees waiting for another mouthfull:

Tesla has some 500,000 orders for the model 3, which will obviously miss it's mid-2017 production launch. 35,000 dollars for basically an electric grocery getter since it has a range of 217 miles. AAA has announced an insurance hike for drivers of teslas since their accident record and much higher repair costs compared to other vehicles. right now they are making 2k cars a week. going to be a very long wait even if they are able to meet the 10K cars a week "goal".

Tesla is the equivelant of vaporware, yet wall street loves them. Wall Street has been smoking some serious drugs ...

 

[testorossa1989]

Didn't their CFO jump ship early this year because while their stocks are worth more than GM they are in fact sinking financially and still like you said took in a boat load of orders pre paid. If Elon was such the great strategist then why did it take him 10yrs to turn a profit and now they are back to missing their marks.

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[ON D BIT]

Have they ever turned a profit?

Didn't two or three high ranking admin run including the cfo?

 

[testorossa1989]

Basically the CFO said that company was beyond help and didn't want his name tied to it

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[03Sssnake]

LOL; CFOs running away is a damn good indicator of trouble. A company I used to work was sold to some venture capitalists who turned around 2 years later and sold it again. In that time they have been thru 6 CFOs, with the exception of one, most have quit after a few months, the last one didn't even make it a month.

 

[lastcall190]

Dear God 6 CFOs? I should apply. Figure one month at that salary would save me a year at my current job.

I'm glad RDJ posted this as the other day when I was browsing stocks I thought, wait a second... Wasn't there a huge jack session over the model 3 with apparently a billion preorders? Whatever came of that... Wasn't aware of the AAA insurance bit due to accidents and repairs.

For as many teslas as I see I have never seen a charger that Wasn't someones house. I still can't wrap my head around that. I can get to about 10 gas stations within 10 minutes.

 

[DHG1078]

Don't the

Dear God 6 CFOs? I should apply. Figure one month at that salary would save me a year at my current job.

I'm glad RDJ posted this as the other day when I was browsing stocks I thought, wait a second... Wasn't there a huge jack session over the model 3 with apparently a billion preorders? Whatever came of that... Wasn't aware of the AAA insurance bit due to accidents and repairs.

For as many teslas as I see I have never seen a charger that Wasn't someones house. I still can't wrap my head around that. I can get to about 10 gas stations within 10 minutes.

I see them in richer areas, especially near busy shopping malls. But they are few and far between. And its only like 5 of them, so good luck finding an open one when they finally produce 100k model 3s. They are also charging people to use the supercharger if you bought a car after jan. 1st, IIRC.

 

[03cobra#694]

I finally saw the first one ever last week. Ugly IMO

 

[Blown 89]

I wonder how bad that company will tank when it's time to pay the piper and they're no longer trendy. Tesla is in a race against the clock right now.

On a side note I was excited to hear that they had a solar roofing system that replaced shingles and, according to Tesla, didn't cost much more than a standard roof. With our roof needing to be redone I hopped on the website to get info. $78k to do our roof! **** that. I'll pay $8k and pocket the remaining 70 grand thank you.

 

[rotor_powerd]

I see Model S and X's all over the place in DC and surrounding areas. Sure are ugly things.

I smelled giant scam when the pre order deal was going on. That company is bleeding cash and the preorders helped them live a little bit longer, but I don't see them turning profitable until their "affordable" car is widely available which doesn't seem like it will be the case any time soon.

 

[RedVenom48]

Its all a ****ing gimmick. Its a VERY niche market, hyped by Elon Musk who genuinely wants to believe he has created the path for electric only cars to be common place. Almost like Henry Ford streamlined mass production to give cheap cars to the masses. Problem is manufacturing costs, dealer set ups and RECHARGING.

Musk hasnt created a path to common elec car ownership. The rare earth materials required for the battery packs and drive controls probably cost Tesla a fortune. A fortune they cant pass on to the current and prospective buyers or risk sending them fleeing on the Nope Express. They also dont have enough of a market base to safely project those costs on realistic market demand either.

Ford, Toyota and GM all have established supply networks, engineering partnerships and extensive dealer networks. The number of electric only cars are TINY. TEENY TINY compared to more standard Hybrid models or the Volt which has an onboard battery recharger. They also have regular gas and diesel models that can balance the overall budget of electric/hybrid cars making them feasible to continue to build.

The dealer network is key. You have an issue with a Prius in the middle of Wyoming? Simply take it to a Toyota dealer and the problem will be addressed. Hell, you could have a Lexus hybrid have an issue and STILL get it serviced at Toyota. Might take longer for parts but it will get fixed. If you even somehow COULD get a Tesla to Wyoming, your ****ed until you get it towed back to a Tesla repair facility... wherever they might be.

Also, when it takes 4-8 hours to charge the Tesla for another 200 miles range, you lost 95% of people right there. Unless Im being paid by Tesla or someone to sit there for 4-8 hours while I get a charge, Im not even considering the car. Pull up to a gas pump. Refill in a few minutes and Im on my way. If its not that easy, the general public wants none of it. Tesla balance sheets are confirming that too.

Canary in the coal mine? Toyota Motor Corp sold ALL of its stock in Tesla. ALL of it. They know Tesla is on the downward slide. They know Musk might be a decent visionary, but has a terrible ability to keep his CURRENT business afloat. He's too busy trying to save the world or get SpaceX stable... to be successful in the automotive market you have to FOCUS on the automotive market until you know youre established.

 

[SID297]

Hot Potato

 

[598]

When your businesses depend on government checks or subsidies, you stay very close to who ever is in charge of the government, but also declare that you are a democrat. Musk was doing a reasonable job of following the Buffett path, but with the Paris brush-up, has inconveniently shot himself in the foot, and he doesn't have 4 to 8 years of capital to keep himself afloat until the next believer of fairy tales can be put in a high office. I like his ideas, but his business model is toast, and he is the one who just turned out the lights. Bezos will probably bail him out, but you and me and all the commoners who own his stock unknowingly in all our "modeled" mutual funds will be left at the alter.

 

[ON D BIT]

The only reason he's made it this far is the billions upon billions of government free money!

 

[DropSVT]

Your should read his business plan. Then you'd understand why they aren't turning profits..


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[2000gt4.6]

You can hate on Tesla for the (obviously) overpriced stock, hate the look of the car, hate on it for costing 100k+ for a model s, hell hate on it for being electric etc etc...

But it's obvious from comments that most have not really looked into how it is to actually own one. Specifically on the charging issue.

First, there are superchargers all over the major cities, running down I-70 and other roads, etc. Hell, there's 1 and soon to be 2 in Podunk Columbia Missouri. This means a 40 minute charge from 0 to 80 percent.

Second, the argument can easily be made that the average driver will spend LESS personal time charging a Tesla than filling your gas tank. Think this thru. How often do you drive 200 plus miles in a day? I know it's a pretty rare situation for me. On average I drive 20 miles one way to work, and say occasionally another 15 and back to dinner or shopping after. So on the average daily drive I would never need to stop.

This means I would charge at home, at night, when electric rates are lowest (and way cheaper than gas btw). I would spend basically zero personal time, other than plugging it in, to charge it.

Meanwhile in my gas car, I fill up once a week. If I'm hauling ass, and it's a fast pump, it probably takes 5 minutes at minimum to pull off the highway, fill up, then get back on. I'd say that's dammed optimistic. So 260 minutes a year on fillups for the daily drive (probably more like 520) plus fillups on trips.

The whole point is, the argument can easily be made that you would spend less time on the Tesla. And if you're able to pay 100k for a car, you probably have two. This logic may not work for the new 35k model, but honestly, who do you know that has only one car but it costs 100k (or 35). So you take the wife's gas fusion on the long trips..big deal.

Hell, with my calculations (admittedly dammed basic) it sure looks like to me I could literally save enough money on gas vs electric to rent a gas car for multiple weekends a year if I need a long trip...and still come out ahead.

 

[Blk04L]

217 mile range? Brings back memories of my Lightning lol

 

[SID297]

You can hate on Tesla for the (obviously) overpriced stock, hate the look of the car, hate on it for costing 100k+ for a model s, hell hate on it for being electric etc etc...

But it's obvious from comments that most have not really looked into how it is to actually own one. Specifically on the charging issue.

First, there are superchargers all over the major cities, running down I-70 and other roads, etc. Hell, there's 1 and soon to be 2 in Podunk Columbia Missouri. This means a 40 minute charge from 0 to 80 percent.

Second, the argument can easily be made that the average driver will spend LESS personal time charging a Tesla than filling your gas tank. Think this thru. How often do you drive 200 plus miles in a day? I know it's a pretty rare situation for me. On average I drive 20 miles one way to work, and say occasionally another 15 and back to dinner or shopping after. So on the average daily drive I would never need to stop.

This means I would charge at home, at night, when electric rates are lowest (and way cheaper than gas btw). I would spend basically zero personal time, other than plugging it in, to charge it.

Meanwhile in my gas car, I fill up once a week. If I'm hauling ass, and it's a fast pump, it probably takes 5 minutes at minimum to pull off the highway, fill up, then get back on. I'd say that's dammed optimistic. So 260 minutes a year on fillups for the daily drive (probably more like 520) plus fillups on trips.

The whole point is, the argument can easily be made that you would spend less time on the Tesla. And if you're able to pay 100k for a car, you probably have two. This logic may not work for the new 35k model, but honestly, who do you know that has only one car but it costs 100k (or 35). So you take the wife's gas fusion on the long trips..big deal.

Hell, with my calculations (admittedly dammed basic) it sure looks like to me I could literally save enough money on gas vs electric to rent a gas car for multiple weekends a year if I need a long trip...and still come out ahead.

Those calculations would work for our DDs here as well. I can usually rent an F-150 for about $50 a day (often less) and most of our driving is less than 50 miles per day. I've considered picking up one of these several times:

http://www.ebay.com/itm/2000-Ford-R...ash=item4404d1f777:g:lqkAAOSwLEtYi4f4&vxp=mtr

I bet insurance and taxes would be stupid cheap on it.

 

[BigPoppa]

Nobody mentioned the crappy build quality. Yes, crappy build quality. They are notorious for it.

The leg humpers will deny it, but the cars suffer from some of the worst quality control in the industry.

Their battery technology is off the chain, but as for building a car, they leave a lot to be desired.

 

[R.D.P.]

For those of you certain the stock is going to tank, why aren't you shorting it?