All things Tesla

[MikeMelga 7,251]

1 hour ago, Krieg said:

Until now BYD was selling cars only in China but in 2023 they are expanding to 40 countries around the world.  Some people predicted that BYD would be the biggest (pure) EV car in some years, maybe 2027-2028, but this expansion, and specially that they are coming to Europe this year was unexpected and some people think the BYD dominance might happen much faster.

I agree that China will have a significant part of market share, perhaps 30%. But be aware that BYD currently has much less margin than Tesla. They are barely profitable (if even!) with EVs, it's the hybrids who keep them afloat. If Tesla can scale fast enough, they can kill BYD in the C and D segment.

[fraufruit 41,951]

Quote

BYD also makes batteries, and it counts Tesla as one of its buyers

 

From my earlier post.

[yesterday 1,979]

Elon Musk breaks Guinness World Record for ‘largest loss of personal fortune in history’

 

https://uk.finance.yahoo.com/news/elon-musk-breaks-guinness-world-075947887.html

 

Elon Musk breaks Guinness World Record for ‘largest loss of personal fortune in history’

Shweta Sharma

Tue, 10 January 2023 at 8:59 am CET

 

 

In this article:

•  

   

• TSLA

  +5.93%

   

 

 

 

Elon Musk has broken the record for losing more money than any other human in history after holding the title of the world’s richest man for almost a year.

The Tesla and Twitter chief executive’s wealth diminished so greatly that the Guinness World Records, in a blog post on Friday, recognised him for having the “largest loss of personal fortune in history”.

He officially broke the record by losing approximately $182bn since November 2021, it said in a press release, citing Forbes.

 

 

 

And a lot of people still think Tesla in over valued .....    

 

[DanglingPointer 29]

14 hours ago, MikeMelga said:

100% agree. The latest SW update seems to indicate some kind of SW compensation for it (from my personal observation) but I dont see a replacement for USS.

By the way, which weird configuration did you choose to have been waiting for so long?

 

It's just a normal config. Model-Y LR White 19" Wheels, black interior. Surprising is that I ordered it in early June and my friend ordered exact same config in mid of June. Both of us haven't got cars and I see in Tesla forums that a lot of people who ordered in July or August have the cars already delivered. 

The only thing I know is that it could be due to 19" wheels. Once TSLA executive told me that if I would have ordered 20" I would have car by now, but the problem with 20" is that it gets scratched quite easily by the Kerb and also the range is a little bit less, even though it looks nice.

 

When I ordered the due date was Sep-30 to Mid October and TSLA promised to deliver it in 2022. I was so frustrated that I bought a small used car and now I don't care. Now I feel like it should come as late as possible. Even I am somehow liking the small car. Its a Alfa Romeo

 

Also, I am having second thoughts to cancel TSLA and buy some cheap 20-25k car from used market to save money for coming times. 
I did test ride a Mercedes GLC last week, which costs similar to model-Y. It was Jahreswagen and was just 5k driven. Pretty new, but somehow I couldn't convince myself 100% as it has so many parts and so many buttons. Somehow I feel TSLA was simpler and easier to drive apart from range/battery issues which might occur in long-term. With GLC I can just fill up and never have to worry about anything.

 

Long story short. Now I am not doing anything and just waiting, hoping that the car is not delivered till end of Q1 2023 and may be price cuts will happen and some new features will be introduced.

 

I bought Model-3 in 2021 and that time TSLA was very good with Customer service and even answering queries. Off late I have felt that they are worse or like other German car makers now. They don't have any clue what's going on and cannot tell you anything regarding your order. They even don't bother to answer.

 

Also, I don't know where the hell the cars are going. I saw lots of modely in Parsdorf center yesterday. There were all colors and all wheel sizes, just parked over there.

 

 

 

[clickety6 4,140]

On 06/01/2023, 17:27:19, catjones said:

Given what airplanes do and what Tesla does, autopilot is the correct term.

 

" Autopilot is an advanced driver assistance system that enhances safety and convenience behind the wheel. "

 

Surely it should be autodriver.

Never seen anybody pilot a car.

[fraufruit 41,951]

Quote

 

Elon Musk’s gambit to slash Tesla prices in China may have partly backfired as angry owners protested the instant loss of value of their new vehicles over the weekend.

Feeling the heat from local rival BYD, Tesla lowered the entry point for its two main model lines on Friday to lure customers back into showrooms and build up its depleted order book.

The move worked, but not entirely for the reason desired.

A mob of angry Tesla customers reportedly showed up at several Tesla showrooms across the country demanding some form of compensation for buying a new car at the older, higher prices.

One protest even appears to have at least in part been organized by none other than an employee from Tesla’s biggest competitor.

A man identifying himself on Chinese social media site Weibo as "Wang Xingguang" acknowledged he had participated in a protest at the Tesla dealership in Xi’an, Shaanxi province. He claimed he was there strictly in a personal capacity, not as an employee of BYD...

 

 

the rest

[catjones 1,658]

8 hours ago, fraufruit said:

angry owners protested the instant loss of value of their _______________

fill in the blank.  In my case, "entire portfolio".  Or, how about that " Montecito  house" I bought last week before the storm washed it away.

Cry me a Yangtze....

[catjones 1,658]

14 hours ago, fraufruit said:

Elon Musk’s gambit to slash Tesla prices in China may have partly backfired

Tesla China: Price cuts lead to acceleration in sales as 30,000 Orders come in 3 days

https://www.youtube.com/watch?v=tO1Yx6incBY

[DanglingPointer 29]

@MikeMelgaAs expected TSLA announced massive price cuts in US and also I can see prices reduced in Germany but not as much.

SR costs 45k in Germany which was 53k before and LR is down to 55k from 57k. LR basically they just adjusted the BAFA subsidy, but SR in 45k looks quite competitive in terms of price.

 

In US prices Model Y LR is almost 20% less. Wow. Why can't they do that here.

 

I am still waiting for LR, but now getting confused if I should swap it with SR. SR has LFP battery like model-3 which can also be charged 100% every day and can give almost 350km range. LR has dual motor and all wheel drive. So not sure which one is the best option for long term.

 

I have to still check with TSLA if I get 2k on top from them as they mentioned that whoever booked a car in 2022 will get the BAFA difference paid out from TSLA.

 

 

[MikeMelga 7,251]

1 hour ago, DanglingPointer said:

@MikeMelgaAs expected TSLA announced massive price cuts in US and also I can see prices reduced in Germany but not as much.

Yes, the price cuts in Europe were expected, as Ive said a few days ago, they were inflated in 2022. Be aware that only in a few configurations, and they changed the default wheels to something smaller. So basically the Model 3 SR and the cheapest Model Y. The Model 3 SR went back to 2021 price. They were just abusive last year.

 

Quote

In US prices Model Y LR is almost 20% less. Wow. Why can't they do that here.

Initially I was not expecting a big drop in US due to new tax breaks, but I've been looking at them in the past days and unfortunately for Tesla they only kick in if the car costs below $55k. The exception is the Model Y 7 seater, where the limit is $80k. Again, the prices in US were incredibly high last year, the Model Y LR was costing $66k!

 

Overall I think they can make up the margin losses with increased productivity and output from Berlin and Texas. Both were losing money last year.

For the Model 3, I expect that the upcoming refresh (Q4?) will bring the price further down.

 

[mtbiking 1,886]

Do you think that the LR is now worth the extra €10,000? It seems like a lot of money for a range increase of WLTP range increase of only 78 km. Is the 4WD really worth the difference in terms of added security etc?

[fraufruit 41,951]

It seems to me that they are pissing off a lot of customers who paid the higher prices.

[DanglingPointer 29]

40 minutes ago, mtbiking said:

Do you think that the LR is now worth the extra €10,000? It seems like a lot of money for a range increase of WLTP range increase of only 78 km. Is the 4WD really worth the difference in terms of added security etc?

It s range and also LR has two motors and 4WD. I have to check, but think there was some difference internally in terms of speaker or woofers which again is not that important.

 

Price reduction in Germany is peanuts compared to US. I hope, people cancel there orders now and may be prices degrade more if demand slows down in Europe also.

[keith2011 2,579]

2 hours ago, fraufruit said:

It seems to me that they are pissing off a lot of customers who paid the higher prices.

 

Does seem rather dumb and naive when there are so many ways to effectively reduce prices without the a major  risk of loosing the customer satisfaction of  the installed base. A new lower cost model with less bells and whistles or an improved model at only a slight increase in cost comes to mind, offer the same to undelivered orders and there you go, everyone happy!

[MikeMelga 7,251]

Every brand does this. Tesla gets burned for it because

a) they are called Tesla

b ) there is no dealership in between to disguise it

 

As Musk said this week, he would be happy to give back money to those affected, if they also agree to write a check to Tesla when the prices go up.

This is basic functioning of market laws, people pay a price for something they think it's worth. Now suddenly, because it's Tesla, it's bad?

[MikeMelga 7,251]

1 hour ago, DanglingPointer said:

It s range and also LR has two motors and 4WD. I have to check, but think there was some difference internally in terms of speaker or woofers which again is not that important.

Yes, sound system on LR is better. Also there used to be no heated back seats on the SR, but that might have changed.

 

1 hour ago, DanglingPointer said:

Price reduction in Germany is peanuts compared to US. I hope, people cancel there orders now and may be prices degrade more if demand slows down in Europe also.

It won't slow down, this move is to smash competition. All those ID3/4 and Ioniq just became much less competitive, especially the VW offer. Tesla has margin to smash most of the competition. The competition is now stopping growth of EVs because they won't be able to make money. At the same time Tesla will keep ramping up production like crazy, and dominate the market from 2024.

[fraufruit 41,951]

On 11/01/2023, 10:45:26, fraufruit said:

A mob of angry Tesla customers reportedly showed up at several Tesla showrooms across the country demanding some form of compensation for buying a new car at the older, higher prices.

 

I was referring to my former quote when I mentioned that owners might be pissed off.

 

3 minutes ago, MikeMelga said:

The competition is now stopping growth of EVs

 

Which competition? I haven't heard about that.

[Janx Spirit 11,075]

The way I see it, the recent price cuts has also to do with emerging technology's tendency to become cheaper, computers, smartphones, tablets and smart home appliances, were all massively expensive at the start but came down in price. There's now pricing for nearly every pocket.

 

And Elon Musk did explain the deeper reasoning behind the cuts:

 

Quote

Interestingly enough, Tesla CEO Elon Musk actually provided an early explanation about the company’s new pricing strategy last month. During an appearance at a Twitter Spaces session, Musk explained that he would like to push Tesla’s rapid growth even if it meant that the company’s profits would take a hit. The CEO noted that long term, such a strategy would likely be proven correct. 

 

“‘Do you want to grow unit volume, in which case, you have to adjust prices downward, or do you want to grow at a lower rate or go steady? That’s sort of the choice there. My inclination would be to still grow. My bias would be to say like, ‘Okay, let’s grow fast as we can without putting the company at risk,’ which would mean that in that scenario, profits would be low to negative during a recession. Provided the cash position is okay, I think that’s still the right move long term,” Musk said. 

 

Elon Musk’s comments about Tesla’s cash position are quite notable. Over the years, Tesla has been growing its war chest, and during the third quarter of 2022, the company saw a $2.2 billion increase in its cash and marketable securities. With this amount added, Tesla’s cash and marketable securities reached $21.1 billion at the end of the third quarter. This was driven mainly by Tesla’s free cash flow of $3.3 billion, and offset partly by debt repayments of $900 million. 

 

More importantly, Tesla’s Q3 2022 Update Letter also highlighted that the company has “sufficient liquidity to fund our product roadmap, long-term capacity expansion plans, and other expenses.” This bodes well for Tesla in the coming years, especially considering the company’s increasingly ambitious goals, such as hitting 20 million vehicles per year by the end of the decade.

 

https://www.teslarati.com/elon-musk-explains-tesla-lower-prices/

 

[keith2011 2,579]

1 hour ago, MikeMelga said:

 

As Musk said this week, he would be happy to give back money to those affected, if they also agree to write a check to Tesla when the prices go up.

This is basic functioning of market laws, people pay a price for something they think it's worth. Now suddenly, because it's Tesla, it's bad?

 

It is not bad because it is Tesla it is bad because it is very poor naive marketing, when you screw your customers guess what they don't buy your products again!

[fraufruit 41,951]

Great minds.

 

It can also put off first-time buyers thinking the same may happen to them.