Blind Item #17
That celebrity CEO’s company can’t can’t afford to offer leases on their newest model. Their financials are much more dire than is generally known.
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45 comments:
Musk Rat
He actually resembles one...(sorry to the entire muskrat race)
Hi Hedge too broke to go out on the weekend now, so you post BIs at 4pm on a Sunday for Entern?
C’mon give him some credit.... posting from a tiki bar😉
Tesla's financial statements are public and can be viewed by literally anyone with an internet connection at sec.gov. as such, anyone could've seen that Tesla's credit profile is weak and always has been. This is not a gossip item.
Not in Florida Tricia still rainy just had a bad storm come thru here myself
Digging the snark Tricia!
I saw one of the new models on the road the other day, one of the benefits of living in/near a wealthy area is we see all the new cars. Not impressed. It's dorky looking.
The first gen Tesla's are great cars, in how they operate, drive, handle, etc. But the battery tech is what is holding the whole thing back, and the kind they use in their battery packs are just fucking dangerous, especially that many in one place.
Electric cars won't become a thing mainstream until there's a breakthrough in battery tech. And that goes for all electronics. It kills me that a $600 phone can't hold a charge for more than a couple hours.
We're talking "discovery of the transistor' level breakthrough for batteries, too.
Musk might be the Tesla of the car industry, in that he burns the whole fucking thing down and dies broke.
🙏🏻😊💃🏼
“Their financials are much more dire than is generally known.” READ.
Nicola Tesla was undermined by Thomas Edison and had his technology stolwn. Elon Musk is a charlatan. What happened to Tesla was a crime. Whatever happens to Musk, he will have brought in himself.
The world needs a room temperature semiconductor. Badly.
If Musk really wanted to change the world he would've created the Volkswagen of electric cars, not the wannabe Porsche.
I don't believe anything related to the man. I think that car in space was faked, I think the rocket landings were fake. His face looks very strange to me.
I truly believe the battery issue is solvable and has been. But, the oil industry is holding it back/covering it up, etc., as they'd then lose $$. USA desperately needs a public transportation system, but never will as we have love of the car and independence it gives. But, USA can't continue to sustain this. USA loves our cars. I live in Michigan and the auto industry will never kowtow to public transportation. Ever. USA roads/infrastructer was never made/meant to handle 4 cars/family.
So true!
Tells you a lot about him.
Having Sold Cars in my past, Leases are usually offered by a Bank/Lender who feels that a car will maintain a certain value after a set number of years. (Residual Value)
The manufacturer is usually paid 120% of the MSRP of the car.
It's probably NOT the company that won't do leases; it's the lender(s).
It's becoming apparent, that Tesla's are losing value too rapidly so it's a greater risk to the bank.
So can I buy a Tesla, or nah?
If I buy one and the company goes under, would I be able to have it serviced still?
That’s the problem with people and their “beliefs”. I believe I’m well-endowed, but the evidence is to the contrary.
The residuals on EVs have always been a problem because the initial sale or lease is sooooooo heavily subsidized by tax and manufacturer incentives that even a Leaf depreciates by 1/3 the minute it goes out the door.
Tesla benefited in a way with the S and X because the tax incentives and Tesla's ability to sell ZEV credits to other automakers were a relatively smaller proportion of the vehicle's price, and the average $100K Model S buyer was not price-sensitive.
The Model 3 sells into a more competitive market space, but perhaps their biggest problem is that Model 3 production - labor, in particular - is far less automated and far higher cost per vehicle than any projection.
They're trying to fix it, but until they do they're probably losing vast sums on every Model 3 they peddle, and if they do before they fall off the cliff, they're gonna have an extra 15K assembly-line workers to dispose of.
Scoff if you must, but the coming downfall of the publicly subsidized ponzi operation known as Tesla Inc is nigh, and many will become wealthy as we short this scam back to $0.00 per share. Madoff is secretly blushing, as is PT Barnum... THERE IS TROUBLE IN RIVER CITY...
I always get a chuckle out of the paranoids who believe The Man is keeping secret some kind of technology that would allow for electric cars. You mean these uber-capitalists refuse to incorporate technology that would bring them untold riches in order to...in order to...wait, why in the hell would they do this??
@DDonna......his face has always seem 'unfinished' to me as if the sculptor gave up half way and said 'nah I'm over this one'.
They're good products. Great designs. Nowhere as good as the hype and if you trust Autopilot you're a fool but nothing else like it.
If Tesla eats dirt for whatever reason, there's a lot of people in a world of hurt. Someone will buy the IP and the customer base, shut down Fremont as fast as they can move it to a lower cost site and fix Model 3 production.
If you own one you can expect losing the bennies like Supercharger access for sure, the service experience lumpy at least for a while.
If you are waiting for a Model 3 check back in a year.
This has nothing to do with any kind of anti EV cabal. It's a company that's been doing great work but heavily dependent on subsidies (ZEV credits, CA state handouts for the NUMMI plant, solo carpool lane access, the tax credits don't matter much for a $100K car). They made price and delivery commitments to investors on the Model 3 that God couldn't meet and they're now spending huge sums to ship product.
Either they stiff arm the moneybags long enough to fix their production problems or they get eaten by a bigger fish.
@kgb...
The same reason pharma companies prefer to treat diseases rather than cure them them.
The same reason printer ink is expensive but printers are cheap.
The same reason monopolies are formed.
The same reason the lightbulb cartel standardized hours.
The same reason "planned obselescence" and yearly new models are introduced.
The same reason Rockefeller said he wanted a nation of workers not thinkers.
They are uber capitalists. And they'd rather keep you buying and uninformed.
Not everyone lives in an urban center and can rely on public transportation, nor would they even want to! I love rural. I need my vehicles to get into town, haul feed, animals, children etc. Can public transportation haul my horse for me? Or my goats? Chickens? All of my children? I buy groceries and supplies in bulk. Have you ever tried to haul groceries and children on a bus? People live different lifestyles in American and we need cars! Sorry to burst your bubble!
Live rural. But I also do love rural!!!
My favorite part of all of the comments on this post is the adorable belief that big corporations don't do bad things. As for Tesla, no surprise.
@schneiderisnext: Hidden in your post is a term that undermines your entire argument, "planned obsolescence". Why would GM, Ford, Toyota, etc. sit on technology that would produce for them an massive amount of new customers and would prompt existing customers to trade up? And if the petrochemical companies developed it, they could easily partner with the auto industry and rake in the same bounty. But, no, some shadowy figures are keeping this glorious future under wraps and no one's spilled the beans!
Oh, and you left the greatest example of them all off your list, the government, which exists not to solve any problems but to create, nurture, and manage them.
Public transit is nasty, and I am in a very transit friendly city. It's dirty, crowded, slow and rarely on time. People are a mixed bag, but you can always count on a few crazies. As one blog puts it "Riding Mass Transit Is Like Inviting 20 Random Hitchhikers Into Your Car".
I took it daily for 20+ years and I just had enough and started driving. Even fighting traffic is better.
That being said; all Musks stuff has been schemes to mine government subsidies, acquire gullible investors and line his own pockets. All that's happening now is that the investors have woken up and the government is running out of money.
Who Killed The Electric Car? Documentary is great, and if they had been allowed to stay on the road we would be much further along in the perfection of gas free vehicles. Yes corporations do bad things
The tech already exists to make every inch of road a solar battery that could power every car that drives on it...
The biggest lie being told is the lie that there is some big battery technology just around the corner to fix this.
Not happening. They have been working on this issue for 50 years. The fact remains that the physics of stored energy favor petro fuels and will do so for the foreseeable future.
There is no conspiracy to stop any of it. The science is just not there or is not scalable yet.
BTW- That movie "Who Killed the Electric Car?" is complete and utter bullshit deigned to illicit the exact response you are espousing.
What Chase said.
Besides, the grid in most cities can't handle a bunch of electric cars recharging, and where is the power going to come from? Not Solar or Wind, they just aren't scaling the way was predicted. The power will come from coal and how is that going to help "Global Warming"?
Biggest lie being told? Yeah that's why they have to change the battery on the Mars rover every 3 months. Oh wait, they don't...
Lol! Okay dude. Ride your Mars rover to work or haul a payload with it.
Nice ad hominem, yet I still stand by my statement. You think the rover doesn't carry a "payload"? Or let me ad hominem myself and say you must believe that it's still running because of some kind of magic. Only babies believe in magic so you must be a baby!
@Chase - I've been told by two people who work in that field that there needs to be a breakthrough on a high level. Conspiracy theories aside, they said it's a really hard problem, and there's a lot of people working on it. Every aspect of tech is desperate for it - cell phones, computers, cars, you name it - we've pushed current battery tech as far as we can go. Teslas use 18650 battery packs, the same ones they use in flashlights, older laptop batteries, and vaping stuff.
@Akbar Johnson - the Mars Rover uses radioisotopes to create the power it uses, AND charge it's batteries. which are a backup to the main power system, it doesn't run on just it's batteries. In other words, it uses the magic of nuclear engineering to run. It also only weighs 100 lbs, so it's not carrying that much of a payload. Shocking what you find out with Google, right? (Or, I already knew this, as a space tech fan)
https://mars.nasa.gov/mars2020/mission/rover/electrical-power/
The Mars Rover is an amazing piece of engineering. It has no comparison to the battery tech in consumer goods, as it's one-of-a-kind engineering, with a total price tag of 2 and a half billion for the entire program - the Mars Rover batteries probably cost more than a Tesla, each. But you'd know that, if you did a little digging, instead of spouting off about conspiracy theories.
Again with the ad hominems. What "conspiracy theory" did I mention? I just said that the tech is there, and then you went ahead and proved it for me, so thanks I guess..
Many a great idea has been bought out and buried. And it is a write off as a business expense and if you own it you might drag out again.
Meanwhile in the USA a certain government wants to ramp up the building of NEW coal plants???? We humans deserve to die a painful death. A big asteroid would be a nice way to go.
This literally comes straight from Elon Musk’s Twitter. This isn’t a secret, Musk flat out acknowledged it. It’s also nothing new, this was the plan for the Model 3 from the beginning. Why bother offering leases while there are a few hundred thousand people still in line to buy?
@Riffer73 start a public transportation competitor that brings a better experience than traditional public transportation for a bit more cost and you have Lyft and Uber.
@kgb
"Planned obsolescence" means intentionally producing subpage products forcing consumers to repeatedly buy.
Monopolies and cartels exist to stifle innovation/implementation of superior technology.
If all of the producers agree to not compete, they can split the market and maintain sales.
Railroads, Rockefeller steel, Opec oil prices.
Learn from history. Don't be ignorant.
This isn't an either or government vs unbridled corporations
In fact. Usually governments grant and enforce monopolies.
This is the history of how America was colonized. Shipping companies got exclusive rights (from the queen)to travel and populate the American colonies.
I'm a free market man myself kgb. But the richer you get, the less free of a market you want (to preserve your wealth)
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