https://www.theregister.com/2024/04/22/tesla_cuts_prices/
Because nothing reassures investors like discounting some inventory
No no, they need to pay him 59 billion even though even a judge called the proposed payment illegal.
It would certainly increase the value of the company and the products in my eyes. Imagine if musk could make billions of dollars on his stock if he quit his job, lol. It has so much forget to fall though.
I would love to see what their vehicles could be if they let the engineers do things right. As much as that business has fallen from grace, the engineering teams have done some good things under the hood.
Imagine if musk could make billions of dollars on his stock if he quit his job, lol.
Ah yes. The Ballmer manoeuvre.
There's literally one single death linked to FSD and even in that case the driver was drunk.
Only one death where FSD was active. But FSD disables itself automatically as soon as it predicts an imminent collision. It literally just goes “Jesus take the wheel” and turns itself off. So Musk fanboys like you can make that exact “only one death related to FSD” argument, because Tesla absolves itself of responsibility as soon as the collision is expected.
But like… what’s the real number?
Because on the flip side of Elon fanbois is those going full monkey brain and equating any risk at all with new thing with the new thing being worse than the old thing.
Cuz there’s a possibility that actually “FSD” may do some stupid shit from time to time (plenty of evidence on YouTube) but is still overall safer than a human driver. It’s just that monkey brain says we should spend trillions on fighting terrorism when heart disease is literally millions of times more likely to kill you.
The real numbers are that in 2023, Teslas had more crashes per car than any other automaker. Teslas clocked in at 23.54 crashes per 1000 cars. The next highest was Ram, at 22.76 per 1000. Third was Subaru, at 20.90. Those were the only three automakers with numbers over 20, and Tesla is obviously above all the others by a fairly large margin.
Then when we look at incident rates, Tesla comes in second. “Incidents” also includes things like speeding, DUIs, reckless driving, and other citations. Ram came in first at 32.90 per 1000, and Tesla came in second at 31.13. So Ram owners are more likely to get pulled over and cited, but less likely to crash.
In 2023, 322 frontal wrecks (that is, wrecks where the Tesla ran directly into something) were known to have happened immediately after the Tesla disengaged its self-driving.
FSD disables itself automatically as soon as it predicts an imminent collision.
… and immediately slows down. I’ve tried it during this month’s free trial and did have one disengagement. It warned that a camera might be obscured, disengaged, and immediately slowed within the lane. I didn’t let it go but fully believe it would have stopped the car. I’m not sure what else you’d want it to do if it got confused
That's what happens the system disengages before the accident so then it's on the driver not FSD
lmao that's hilarious. Oh shit, i'm about to run that guy over, I abdicate all responsibility and it's your fault! Criminals everywhere are taking notes.
It feels like something from Trailer Park Boys. Ricky is driving drunk, but right before he gets pulled over he makes Jacob or Corey take the wheel because then he's not driving so he won't get in trouble.
I thought Congress reacted to this by passing a law that states a self-driving system is at least partially responsible if it was in use up to something like 30 seconds before a crash…
That's interesting if it really is so and it's skewing the numbers. That however doesn't mean that it's then less safe than average human driver. I think there's a good chance it already is much better or for the very least soon will be. Not perfect, but really good.
Bro, it's ACC + lane centering, fucking Hyundai has a better system, it's not full self driving.
Maybe it's gonna be better than American drivers, not European ones
You should perhaps see some videos of FSD V12 in action and hear reviews from users. You might be basing your opinion on outdated info.
From this months free trial, it does seem very good where there are lane lines. It does a great job of staying in lane, following GPS, switching lanes to pass and exit. It’s great for highway use, and I could believe it may be better than humans
Local roads around here usually only paint the center line and FSD gets closer to the edge than I’m comfortable with, although I don’t give it a chance to see if it’s actually dangerous. Similar to crossing an intersection: on my way to work I have one where the other side of the intersection is offset and there is no lane lines, so it changes lanes in the intersection. Oops, but also bad road design. Plus I have had it make a couple wrong choices when it can’t see but I can.
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.
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.
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."
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.
I don't trust the structural enough to use even if cheap, based on everything else. I could see breaking it down and using specific parts in a custom build using a real car as a base though.
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
Someone will step in and pick up the ashes. Question is will it be a company or the government.
How would non-American consumers feel about the US government controlling there cars? Not sure all American consumers would be happy with that either. Why it's OK for a company to have that power over your car is another issue....
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?
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.
It's alright, it's part of the game. If we knew how the stock would move, we would all be millionaires.
Just curious; why individual stocks rather than index funds? Is it just the gambling aspect of it i.e. chance of a quick win or is there something more to it?
Chance of quick win. Individual stocks can move 5-10% in a day and index funds move much more slowly.
But yeah everyone says it's almost impossible to beat index funds long term.
Index funds are one of the best places to put your investments but a stock like Tesla can make for some quick wins (or losses). I suppose maybe I also treat it like gambling except with true gambling you can’t beat the house but with stocks you can. It is all about the timing though and no real way to predict it reliably
But we see they sold yesterday at $150 whereas right now it’s $161. If your gamble was to buy on yesterday’s downturn and decided to sell today, you would have made $11/share. You can’t beat that with index funds (however the actual trade is a loss showing why index funds is a better choice for long term or for money you can’t afford to lose
The funny thing is, I have bought Tesla two times in my life, and both times it has fallen like a stone right after I bought it. I guess I have a gift and I should short it... :p
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.
The company that straight up stole porsche car designs to build 'their' flagship? It's not going to be available in the west until they can actually build their own cars.
Their cars are already available in Europe and South America and they are building a plant in Mexico