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Tesla’s in its flop era (www.theverge.com)

submitted 8 months ago by [email protected] to c/[email protected]

106 comments fedilink hide all child comments

When Tesla releases its first quarter earnings this afternoon, the company’s CEO Elon Musk will field the usual questions about new products, new factories, and progress toward its futuristic vision of self-driving cars and robot workers. But Musk will also face increasingly urgent questions about its current state of affairs — and why everything seems to be going to shit.

Earlier this month, the company reported its first year-over-year sales drop in four years, a sign of rougher waters ahead. Tesla’s stock has fallen more than 40 percent since the start of the year, including a 13 percent drop in the last week. The company laid off over 14,000 employees last week, 10 percent of its global workforce — which could end up being closer to 20 percent when all’s said and done, according to Bloomberg. Today’s earnings report is expected to include Tesla’s lowest profit margins in six years, a sign that rampant price-cutting continues to exact a toll.

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[–] [email protected] 90 points 8 months ago (3 children)

He shot down his cult of personality in favor of the base that shits on electric cars and bombed his brand by releasing an all-purpose truck that can't even survive a car wash. Tesla will get what it deserves with a CEO like him.

[–] [email protected] 18 points 8 months ago (2 children)

Yet another CEO of a luxury item company that thought fame made him untouchable finds out that running your mouth off will turn people off from buying something they don’t actually need. If you sell a product favored by progressive and left leaning individuals and go on right wing rants you’re gonna have problems. That, and massively under-delivering on promised car features.

*I figure at the price point Tesla cars are they are indeed a luxury item. It’s a luxury to be able to afford them and afford the statement an owner makes by buying one (early adopter, environmental, whatever) There’s plenty of ICE cars, hybrids, or PHEV that are cheaper, more reliable, and have better service availability.

[–] [email protected] 15 points 8 months ago

also moving all the controls to a touch screen? stupid. A car isn't a smart phone

[–] [email protected] 5 points 8 months ago (1 children)

I figure at the price point Tesla cars are they are indeed a luxury item

Tesla has luxury models and trim levels, but I'd say several variants of the Model 3 and Model Y are fairly price competitive with its competition, especially if accounting for government tax subsidies.

The average new car transaction is about $47,000, and several Tesla options fall well under that average.

[–] [email protected] 1 points 8 months ago

Yeah, but I have to say the one Tesla I was in for an Uber felt cheap...I wanted to like it despite Elon but it wasn't built well inside. Cheap plastic and such...I'm not the most experienced but for the price I thought they'd be nicer.

[–] [email protected] 13 points 8 months ago (2 children)

It's weird, because in many ways he could've been viewed as a champion of the left. He owns one of the largest brands in "sustainable" travel, owns a space company, and has money to burn.

I think he probably had a mental breakdown a few years ago, and that what we've seen is from him is basically untreated mental illness, exacerbated by being pals with the likes of Rogan and Chappelle, two guys that can handle fame and not give a fuck.

But things could've been very different if he weren't such a cunt.

[–] [email protected] 18 points 8 months ago

He comes from a South African Apartheid family that got rich with blood diamonds. Can't expect much more from that than a white nationalist.

[–] [email protected] 3 points 8 months ago

We have different ideas of what the left is, I guess

[–] [email protected] 2 points 8 months ago

Pretty much.

The dude is school on Sunday, no class.