Tesla Inc on Wednesday posted its worst ever quarterly loss and said its Model 3 production target remains on track, expecting about 5,000 per week in about two months.
Tesla is an interesting case in the tech/auto industry, but surely they can’t continue these losses for much longer.
Elon Musk is a snake oil salesman.
Everyone I know who has a Tesla loves it…
So’s Bezos. And yet.
Amazon losses went for what, like 10-15 years, until AWS started printing money? Why is there such Apple-like hate for Tesla?
It will be a shame if they can’t pull it off, I hope they turn things around.
Not everybody cursing Apple sites likes tech or even Apple let alone a Tesla.
I can’t help but note that if pretty much any other CEO of a publicly-traded company made the kinds of statements that Musk does, he’d long ago have been charged with securities fraud.
Put another way: If Apple had only sold 25 million iPhones instead of the 50 million it promised last quarter, Tim Cook would already be looking for a whole team of lawyers, and under SEC investigation.
Seriously? His goal was 5,000 Model 3s per week by last fall. They barely made 2,000 in time for close of quarter.
And now he’s claiming 6,000 per week in 3 months?!
I think that’s because people realize that having a Tesla doesn’t save them any money in the long run, they are a pain in the ass to charge and maintain, and don’t offer any of the magic they thought they were going to get when they bought it that they couldn’t get out of a traditional car.
When you get low on a charge, you stand around for an hour or two. When you get low on gas, you stand around for a couple minutes.
Well, Apple has consistently made huge amounts of money. Tesla has never made any money at all. So I would say any hate for Tesla is not Apple-like at all, rather entirely different, at least as far as the market is concerned.
Indeed!
What are you basing this analysis off of? As David said, everyone I have talked to that owns a Tesla, loves it.
“but surely they can’t continue these losses for much longer.”
It depends which media outlet you read.
“it’s hard to tell whether Steve Jobs is a snake-oil salesman or a bona fide visionary”
That’s how Jobs was described in ~1993. Unconventional approaches aren’t often received well, particularly when they hit scale.
Musk is ruffling feathers too, but Tesla has more than enough accomplishments to suggest they’re far from snake oil.
Amazon did it for decades…Why not Tesla?
“Amazon losses went for what, like 10-15 years…”
You’ve got your facts wrong. Amazon basically broke even for a long period of time. Slight losses, but nothing to be too concerned about. Particularly because they were growing at ridiculous rates.
Now go look at Tesla’s production numbers. You’ll note that they haven’t actually improved their numbers of total vehicles produced per quarter much at all over the last 2 or 3 years.
Then look at your burn rate. And the fact that they’ve been downgraded.
And finally, note something incredibly important that Musk called “boring” and “bonehead[ed]” and refused to talk about:
A company that is having serious problems ramping up its production lines has cut its planned capital expenditures by 10% for the year.
Either he knows something he’s not telling people, when in the interests of his fiduciary duties, he really should, or he’s batshit crazy.
It’s not “hate Tesla.” It’s “Why are these people so crazy about a company that seems to have massive problems?”