RealTesla

Further price cuts announced by Tesla.

Its really feeling like a "Death Spiral Sale", like Sears, K-Mart, or Jos. A Bank. They never had "normal priced" stuff after that, everything was always on sale and the companies kept losing money... forcing more sales to get people back into the store, losing more money. Etc. etc.

At least in the USA, sales backfire in this way. When everyone sees lower-and-lower prices, we sit back and wait for the better deal as we know companies start getting in trouble. Why buy something at $2000 off when we know that in a few weeks, $3000 or $4000 off will come soon?

I took this screenshot today, after it came up to my attention that Tesla has dropped the price of FSD from $15k, to $12k, and now $8k.

It seems like Elon Musk is pulling out all the stops. A $2k drop in Model Y prices as well as big drop in FSD. It seems clear to me that the cash-situation at Tesla is severe. I do think that all these price drops are going to have a Jos. A. Bank effect, where repeated deals and cuts in prices will only cause the plugged-in superfans to wait for prices to bottom out before buying.

Everyone knows that when companies are in trouble and inventories go up, the prices come down if you wait long enough.

According to the food-and-drinks maker and one of its executives with knowledge of the deal, PepsiCo was using only 36 of Teslas promised 100 electric trucks as of this month.

The shortfall, which hasn't been previously disclosed, lays bare the challenges for Tesla as it seeks to become a high-volume player in the truck-manufacturing business. Other would-be Tesla customers including food distributor Sysco, UPS, and Walmart Canada continue to wait for Tesla Semi trucks and are turning to rival electric-truck makers.

The struggles of shipping enough Semis come at a bad time for Tesla, which has seen growth for its consumer electric vehicles slow, forcing it to cut prices and hurt margins. In addition, Reuters reported this month that Tesla had decided to cancel its long-promised inexpensive car that investors had hoped would drive further growth.

This is some good looking analysis on Tesla's current problems.

I don't know if "Bankruptcy" is a word to be thrown out right now. But it is clear that the Cybertruck is a dud, the Model 2 is allegedly cancelled, and the Model 3 Highland refresh barely moved the needle.

Finally, TSLA sold fewer cars in Q1 2024 while the overall car market grew in sales. It could be an EV-only blip or problem, but in any case, its a clear problem for Tesla.

Overall, the substack article stays focused on GM, Chrysler, and Nissan and how these 2008-era and 1999-era bankruptcies have similarities to Tesla's troubles today. It seems a bit hyperbolic, but it overall seems like a good read.

Hey everyone,

Reddit drama has caused the original /r/RealTesla community to become marked private. ~~The /r/RealTesla moderators did NOT cause this~~. I'll provide updates here with what I know when I figure it out.

I'm contacting the /r/RealTesla moderators on Reddit and Discord. I'm not sure if there's other channels they listen to, but if anyone out there knows how to contact them please let me know. I'd like to help out and use Lemmy.world/c/realtesla to help them out in any way possible.

Hopefully this is just a temporary blip. If any Redditors are finding their way over here somehow... Welcome! I've created this Lemmy.world community as a "lifeboat" from July 2023 Reddit issues. I hope you find your stay here at lemmy.world/c/RealTesla as productive as it was at Reddit/r/RealTesla. For you former Redditors who are used to "Open Signups", Lemmy.world has a signup process now. I recommend you sign up at https://sh.itjust.works/signup. Then you can access https://sh.itjust.works/c/[email protected].

EDIT: Looks like /r/cliffordcat has figured something out behind the scenes. https://old.reddit.com/r/RealTesla/comments/1c7h244/were_back_now_we_need_to_talk/

I'll keep this topic featured a little bit longer. In case anyone wants some help joining Lemmy and participating in this "lifeboat" here.

EDIT2:
These seem to be the best links that describe what's going on.

• https://www.reddit.com/r/RealTeslaInExile/comments/1c7erua/news_thread_rrealtesla_takeover_survivors/
• https://www.reddit.com/r/EnoughMuskSpam/comments/1c7cwj4/realtesla_just_went_private_whats_that_about/l07i8rn/

`Nuff Said.

Elon thinks he's doing such a great job as CEO, he wants more shares of TSLA.

Don't look now but Elon suddenly started to pay attention to Tesla and has begun to micromanage Tesla prices and deliveries.

And this is almost certainly going to blow up in his face. TSLA sold fewer vehicles last quarter than any time in 2023 (despite lowering prices), and Elon Musk is firing sales reps AND increasing prices. What does he think is going to happen?

Well... as bad as Q1 2024 looks, Q2 2024 will have even worse sales. Raising the price won't help, especially if Tesla sale centers just lost a ton of staff who helped finalize sales.

Some details coming out of the layoffs from yesterday.

Hard to believe, but IMO TechCrunch is a reliable source. The citations just come down to some Elon Musk tweets, but they seem more "serious" than his usual 3am crap.

I'd probably trust the story more if the actual CEO: Linda Yaccarino, said something about it. But if Elon Musk is pushing this idea, its likely to come to Twitter.

The Barron's article is paywalled. I figure posting a non-paywalled version is in the best interests of this community.

https://lemmy.world/post/14296224

I don't think I need much aside from the headline here. But production officially halted on the Cybertruck due to the previous unintended-acceleration issue.

Over at /r/RealTesla on Reddit, there are already two posts from people who were locked out of their jobs this morning (!!!). It looks like this round of layoffs happened extremely quickly, possibly illegally quickly. (I thought there was a WARN notice required for a mass layoff in the state of California?)

I don't know the full details. But rumors are as high as 20% of layoffs.

Threads / TikTok video showing off a Cybertruck problem where the accelerator pedal got stuck on max acceleration.

The factory floors at America’s top seller of electric vehicles are rife with racial harassment, sexual abuse, and injuries on the job.

Well known to anyone who has followed Tesla closely over the last 10 years, the toxic culture in this company runs deep. Still, its good to have reminder articles that summarize all of the problems every now and then.

Yahoo Finance has an unlocked article from Reuters.

This is the article that made Elon Musk angry today ("Reuters is lying (again)" post on Twitter). So we know its real.

In a video documenting his experience, Entrepreneur Thomas Remo picked up his £64815.22 ($82,000) electric vehicle (EV) in Irvine, California. Remo's excitement turned sour when the truck "broke not even six inches off the lot" and "failed another 30 times" throughout the first day.

Big YoY decline, despite record low prices.

Tesla on Tuesday published its first-quarter vehicle production and deliveries report for 2024 that showed deliveries of 386,810 fell 8.5% from the year-ago quarter.

This is far lower than the lowest estimates I've seen. Huge miss.

Zoom in: The analyst hive-mind tallied by financial data firm FactSet sees 457,000 deliveries, compared with roughly 484,500 Tesla reported in Q4.

But multiple Tesla-watchers have cut their estimates in recent days.

I'm seeing estimates as low as 409k, which would be a YoY decline... despite rock bottom prices trying to drive demand.

EV competitor Fisker slashes the Ocean Sport to $25,000.

I guess we're seeing if $25k EVs can sell in the USA. Sucks for Fisker to be driven to this point but great datapoints for us analyists looking from afar.