365
Tesla slashes vehicle and self-driving-ish software prices as shares plummet
(www.theregister.com)
Maybe they should try slashing their scumbag CEO
this post was submitted on 23 Apr 2024
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No no, they need to pay him 59 billion even though even a judge called the proposed payment illegal.
remember, " Illegal " means "Something only the truly powerful can get away with."
No, the issue is they’re not paying him $69B
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"Self-driving-ish" 😂
cruise control with a higher fatality rate
Full self crashing
Honestly that's the best possible name for it.
Even after the price cut, theirs is still 3x the price of Mercedes' system which works better. I have a feeling Tesla's earnings report won't go well this afternoon. https://finance.yahoo.com/news/tesla-earnings-q1-175358835.html
Tesla was overvalued when it hit 50$ pre stock split. Its continued rise over a period of years to one of the most valuable public companies is just mind boggling. But I think even now there is a lot of hesitance in shorting the stock as entire fortunes have been lost trying to predict a share price correction.
But we're about to find out whether Tesla truly transcends auto companies: https://bradmunchen.substack.com/p/could-tesla-go-bankrupt-the-odds
Tesla is nothing more than an elaborate stock pumping exercise built on a business of selling crappy cars to techbros. It’s valuation is propped up by lies, hype and virtual signaling. It also can’t survive without copious amounts of government subsidies and low interest loans, since the car business is so capital intensive. At some point, all of these problems will come to a head. It’s a matter of when, not if, that Tesla collapses in some form. Though it may be bought out before formally filing for bankruptcy.
The Model 3 and Model Y combined for more than 500,000 units sold last year in the US alone. Do you really think it’s only tech bros buying them?
GM delivered five times that amount and yet Tesla is valued higher. It's painfully obvious that Tesla's stock is overpriced.
The new camry is expected to sell 300 000 units in the US alone
I don't think bankruptcy is going to happen. Despite economists' theoretical ideals, stock price has nothing to do with a company.
Tesla is selling cars at a profit whether the stock is $20 a share or $200. Long term the stock price should go to $20.
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When considering shorting stocks it's important to remember one of Keynes' better quotes, "the market can remain irrational longer than you can remain solvent."
And also that shorts have defined gains, but infinite losses
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which works better
That's debateable. The system Mercedes uses is extremely limited. It only works in certain cities during a certain time of the day on certain roads that are below certain speed limit. FSD work anywhere in the US even on roads that have not been mapped.
Drivers can activate Mercedes’s technology, called Drive Pilot, when certain conditions are met, including in heavy traffic jams, during the daytime, on spec ific California and Nevada freeways, and when the car is traveling less than 40 mph. Drivers can focus on other activities until the vehicle alerts them to resume control. The technology does not work on roads that haven’t been pre-approved by Mercedes, including on freeways in other states.
That article is weirdly worded. The Mercedes pilot is specifically meant only for traffic jams (so you can do something else while the lane crawls along). Hence all the limitations. It's not cruise control. They have different tech for that, and it's not level 3. The level 3 traffic jam pilot might eventually grow into level 3 cruise control but for now they're distinct and Mercedes has not tried to pass one as the other afaik.
Because what you really want is a car that specifically depends on long term software updates, and is frequently the target of product recalls, from a company in financial freefall.
I'm expecting the company to go out of business and all of the cars to just brick.
Might be a good move to figure out how to hack the software and/or reclaim the batteries for resale, might be kinda lucrative.
On the other hand, if they do brick overnight it might be dangerous, and I hope Tesla demonstrates some responsibility to the lives and safety of their consumers. I don't expect them to, but I hope so.
Even if they don't fail, knowing how to hack them, how to replace the Tesla computer with your own that functions without Tesla approval, how to make the car function without self driving that might lock up the tires at highway speeds... These are valuable skills to have.
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They are "too big to fail now". If they pop now, the ruins will be bought quickly. The car won't be allowed to brick. But it is good to highlight the issue that modern car need to be independ of the existence of manufacturers servers. I'd go further and regulate that it must be documented protocols and you must able to change the servers used if you choose.
Same with any computer, if you don't have admin, you don't own it.
too big to fail
That's a good point, it's just as likely (to my cynical mind) that the U.S. govt would just bail them out to the tune of hundreds of billions
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I’m expecting the company to go out of business and all of the cars to just brick.
I agree that Tesla will not be able to maintain their current position, but currently Tesla is one of the most profitable car companies in the world. So chances they'll go out of business anytime soon are very slim.
That said I think they are currently about at their height, with a peek market recognition advantage in EV, earned from their first models where everybody else only made tiny lame city EVs with limited range. Now the competition is catching up and even sometimes surpassing Tesla, and the EV market is in a slump. This is a very different situation for Musk and Tesla to handle, and time will show how well they do that.
1.81M units sold last, that's $31,000/unit he wants to get paid. For pretty much single-handedly ruining the brand with his stupid yapper in a year.
$2000 a unit price decrease doesn't seem like much compared to that.
When put like that, that's absolutely mad! How can shareholders possibly think that this is good value?
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I bought stocks at 170 and sold a few days ago at like 150. Would not recommend.
If the report is bad, Tesla will probably be back at 110.
Puts are where it’s at anyway. Hard to predict good moves… easy to see dumb ones that will hurt shortly after they are made.
Not with tesla, shit has been irrational for a decade now. Who knows how long the techbro elonsuckers will keep the price inflated
I tried that with them a couple times when it was obviously overvalued years ago. Damned thing just kept going up.
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I wouldn’t touch a TSLA product even if it was given to me.
I'd have no problem accepting a free car
And if they want to force me to accept a free solar installation, I’d suffer
Must be hard on the idiots who paid full price.
Too late. Suck less next time.
How long before he burns it all down to collect insurance?
This is the best summary I could come up with:
Speaking on his social media platform X over the weekend, Tesla supremo Elon Musk said price adjustments are an essential part of doing business in the auto industry.
That was followed not long after by the company asking shareholders to reinstate Musk's $56 billion pay package that was recently voided by a Delaware court – again, bad timing given the state of Tesla lately.
Along with cutting prices over the weekend, Elon Musk also postponed a scheduled trip to India in which he was predicted to announce Tesla's expansion into the country.
EV sales have generally been on a decline of late, putting some of the world's biggest manufacturers – like Tesla and Li – in a relatively tight spot.
Tesla recently announced plans to kill its low-priced Model 2 vehicle – a seemingly ideal move when consumers want lower priced electric cars.
PS: Mercedes now reckons it's the first automaker to sell actual self-driving cars in America that don’t require drivers to keep an eye on the road.
The original article contains 567 words, the summary contains 169 words. Saved 70%. I'm a bot and I'm open source!
Thanks but no thanks, I'll stick to my EAP I got with my model 3 initially. That already tries to kill me enough as it is.
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