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Elon Musk is getting out of control. Here is how to to rein him in | Robert Reich
(www.theguardian.com)
this post was submitted on 30 Aug 2024
138 points (96.6% liked)
Enough Musk Spam
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It is though. You’re directly contributing in an enormous manner to his wealth, which he is donating left and right to the Trump campaign and more bullshit. If you’re rich enough to buy a tesla, you can find an electric car from another company that works too.
All else aside, Tesla is typically cheaper than comparable vehicles given the tax break, gas and upkeep savings, etc. "Rich enough to buy a Tesla" isn't a very high bar.
Teslas range from 40k - 120k +
You can get a cheap EV for 25k ish that works nearly as well. Or get a midrange EV like a Hyundai Kona for 40k ish.
And yes being able to afford a tesla is rich. The average income for an american is 40k ish per year, the same price as the cheapest tesla.
Look around at the amount of 35K+ cars you see on the road. Auto loans are pretty standard. The average cost of a new car in the United States is currently over 47K.
I'll be the first to tell you about all the idiots I know that have new cars or trucks that cost as much as their annual income. It's incredibly common. I wouldn't be surprised if we see bank troubles with all these high-risk auto loans frankly. If you've ever bought a car, you know the dealership will basically find a loan for anyone.
I know someone that currently owns a car that costs way more than his yearly income, and his car payments are more than his rent. That dude is so fucked. All he does is work, play video games, complain about having no money, and drive around. He literally sleeps on a mattress on the floor. But he sure loves his car.
Nothing new. In the 90s, I worked at luxury auto dealers in Lake County, IL. I heard from more than one person (porters driving people to/from home, mobile service vehicle, third parties who did work for people in the area) that there were a surprisingly large number of people who lived in crazy expensive houses in highly desirable zip codes and drove $100K+ cars (in 1990s dollars), where the inside of their house was just empty. Plastic lawn chairs and a table, cheap mattresses on the floor, that's it. They'd sunk every dime they had into appearances.
The alternatives are more expensive for less range, or just much less range. Or double the price for more range. Or should I buy a gas car and destroy the environment to mildly inconvenience Musk. Because his money is from stock, not from Tesla profits.
Despite what you were taught in high school, stock price doesn't reflect company profitability. If it did, Tesla's price would be 1/5 it's currently price.