General Discussion

Tom of Temecula

(1,147 posts) Sat Mar 16, 2024, 09:20 AM Mar 16

187

Tesla Is Getting Absolutely Destroyed Right Now [View all]

Tesla is having a horrible year. The Elon Musk-led company's future is uncertain as ever, CNN reports. As we approach the end of Q1, Tesla has remained the worst-performing stock on the S&P 500 for over a month now. The company is down almost 32 percent since January, hitting a ten-month low — and the forecast for the rest of the year isn't looking much better. According to a scathing new report by Wells Fargo analyst Colin Langan, Tesla is a "growth company with no growth."

Per Langan, Tesla's growth is expected to remain flat this year and start to decline in 2025. That's due to a number of factors, including a surge of competitors, particularly from China, eating up larger shares of the global EV market and undercutting the company's offerings.
Tesla is also struggling to keep up with orders, while resale values are dropping considerably.

Some of the company's woes also feel decidedly self-inflicted. The company's vehicles, for example, are among some of the worst depreciating vehicles on the market right now, making them a terrible investment — the polar opposite of what Musk predicted back in 2019, when he claimed the value of the company's cars would actually increase as their self-driving capabilities matured.

Meanwhile, Musk has been accused by shareholders of abandoning the company and has spent a lot of his time on X-formerly-Twitter spreading disinformation and furthering racist tropes.

https://futurism.com/tesla-is-getting-absolutely-destroyed

159 replies

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Highlight:

Tesla Is Getting Absolutely Destroyed Right Now [View all] Tom of Temecula Mar 16 OP

An example of someone knowing little enough about auto engineering to believe he knew everything. marble falls Mar 16 #1

He is a perfect example of the Moi personality disorder. Baitball Blogger Mar 16 #23

A little orange spray tan and a pile of indictments... rubbersole Mar 16 #24

And the State of California.... SergeStorms Mar 16 #42

What do you mean by "moves his entire operation to Texas"? A HERETIC I AM Mar 16 #105

Mea Culpa. SergeStorms Mar 16 #115

Be Honest Where Modern Obscene Wealth is Created Roy Rolling Mar 17 #144

Have you invested in buying a lot of it on margin to sell short? MichMan Mar 17 #152

First... Roy Rolling Mar 17 #154

I used the word buy, but you are actually borrowing on margin hoping for a short position. MichMan Mar 17 #156

Yes...borrowed Roy Rolling Mar 18 #159

Tesla's eccentric sales model is built on an assumption of trust. yardwork Mar 16 #2

He's a "lucky" punk freak who benefited, in part, from government subsidies. Justice matters. Mar 16 #28

The 2nd richest person in the world got there by "luck"? former9thward Mar 16 #38

Luck, smooth talk, and knowing how to game the system go a long way. n/t thesquanderer Mar 16 #66

I'd call being born into a wealthy family luck kcr Mar 16 #71

Exactly. ShazzieB Mar 16 #79

Many millions of people started with similar wealth as Musk. Lucky Luciano Mar 17 #142

Too Big to Fail Roy Rolling Mar 17 #145

Sure, he's a monumental asshole who deserves his comeuppance... Lucky Luciano Mar 17 #149

Well, luck and a lack of shame TimeToGo Mar 16 #83

You probably won't find a lot eloon fans here. BannonsLiver Mar 16 #87

No, he became the "2nd richest person in the world" all by his own action MurrayDelph Mar 16 #127

Emo Elon... LudwigPastorius Mar 16 #106

I've been a happy Chevy Volt driver for ten years OMGWTF Mar 16 #37

That is years away, if ever. former9thward Mar 16 #41

It's all good. My Volt only has 36K miles on it, so I'm good for a while longer. OMGWTF Mar 16 #63

One of the dumbest things Chevy ever did was discontinue the Volt. nt SunSeeker Mar 16 #131

One area where Tesla is far superior to their competitors is their supercharger network. beaglelover Mar 16 #47

Maybe they should tell their car-owners Fritz Walter Mar 16 #78

Most of the us ev market is shifting to tesla Voltaire2 Mar 16 #101

This wasn't true for the Chevy Bolt we rented this past December and January. cab67 Mar 16 #120

I have a Bolt, you are correct they have non-Tesla connector Quanto Magnus Mar 16 #122

Right. Only newer vehicle models. Voltaire2 Mar 16 #128

This was a brand-new Bolt this past December. cab67 Mar 16 #140

Ford and Gm have both announced nacs support. Voltaire2 Mar 17 #143

Tesla fucked that up all by themselves jmowreader Mar 16 #88

That quick-charge feature is dangerous; it places orthoclad Mar 16 #92

It also shortens battery life if overused NickB79 Mar 16 #99

Dealers should hve been required to have installed chargers or a charging network Historic NY Mar 16 #113

Tesla's problem is that half the cost of the car is the battery. joshcryer Mar 16 #116

Saw my first Tesla truck in person a few days ago. Biophilic Mar 16 #3

Other than exotic (I think ugly) styling, I wondered if it would actually function as a truck. Guess not. dutch777 Mar 16 #13

I recently posted the same thoughts. Irish_Dem Mar 16 #29

A common donte Mar 16 #75

I think my Honda CRV has a nicer interior. Irish_Dem Mar 16 #96

Was it a Model S or an X? KidContra Mar 16 #90

It must have been the budget Tesla. Irish_Dem Mar 16 #98

No, Tesla has a voice activated navigation system Rstrstx Mar 16 #123

That is really weird. Irish_Dem Mar 16 #125

I agree with you about the interiors moniss Mar 16 #108

A friend of mine has an Audi. Irish_Dem Mar 16 #111

Yeah, calling that thing a truck is ridulous. ShazzieB Mar 16 #81

While Plutobrat had Tesla focus on that POS Voltaire2 Mar 16 #102

The $10k Chinese EV that could blow away the competition. Celerity Mar 16 #117

When I first saw it on that stage moniss Mar 16 #107

Add one letter. Tedsela. nt. druidity33 Mar 17 #146

Me too, though I didn't think "ugly" Rstrstx Mar 16 #130

What if it looked like this? True Dough Mar 16 #137

Yes it does. 😆 Biophilic Mar 16 #139

Watch for the Egoloon to proclaim all it needs is to be renamed 'X'. Hermit-The-Prog Mar 16 #4

+1. X stands for golden dalton99a Mar 16 #6

as in "golden showers" erronis Mar 16 #14

Internal combustion engine vehicles have legacy advantages bucolic_frolic Mar 16 #5

And of course, much greater range erronis Mar 16 #15

My old '96 dodge ram is easy to work on, has cheap parts and runs like a champ. cayugafalls Mar 16 #77

I wouldn't buy a $5 bill from Musk SCantiGOP Mar 16 #7

Me either..thought he was a genius until the twitter thing atarted Demovictory9 Mar 16 #129

Plus he didnt start Tesla. The two founders loathe him. mahina Mar 16 #136

What was Tesla's market value when they sold it vs what is it now? MichMan Mar 17 #151

Immaterial. mahina Mar 17 #155

According to the chart in post #144, the stock has gone up nearly 700% since 2019. MichMan Mar 17 #157

And a liar. mahina Mar 17 #158

This makes me smile LetMyPeopleVote Mar 16 #8

Why though? edisdead Mar 16 #40

Agree. llmart Mar 16 #54

Oh yeah, it's totally sour grapes BannonsLiver Mar 16 #84

The Stock Is Grossly Overvalued ProfessorGAC Mar 16 #62

None of that addresses what I said edisdead Mar 16 #74

That Doesn't Address What I Said ProfessorGAC Mar 16 #82

Agreed GregariousGroundhog Mar 16 #85

There is plenty of demand for orthoclad Mar 16 #112

Tesla is a poorly managed company that overpaid Musk LetMyPeopleVote Mar 16 #135

Musky suffers from billionaire know it all disease. nt Javaman Mar 16 #9

One of the major problems is the infrastructure isn't there, and the upfront expense of all electric JohnSJ Mar 16 #10

That played a role in our thinking as well Sympthsical Mar 16 #16

I wish Tesla and Musk would go ahead and divorce genxlib Mar 16 #11

Yes, yes and yes. Musk is a lot like TFG in that he is his own worst enemy. Big mouth and bad ideas. flying_wahini Mar 16 #17

Musk has demonstrated mostly good ideas with Tesla Shermann Mar 16 #26

Correction. SergeStorms Mar 16 #121

Did California buy him that 13 percent stake in Tesla? Shermann Mar 16 #132

After reading what happened to Angela Chao.... LisaM Mar 16 #46

She backed her car into a pond. Sounds like user error to me. beaglelover Mar 16 #48

Other people have reported problems with the touch screen shifter. LisaM Mar 16 #57

Touch screens suck! orthoclad Mar 16 #89

No argument with any of that. Disaffected Mar 16 #104

It's not EVs, it's all modern cars orthoclad Mar 16 #110

Any car can be accidentally put into reverse, even a manual one. beaglelover Mar 16 #119

Of course, but not that easily. LisaM Mar 16 #138

If user error happens because of poor design kcr Mar 16 #72

It didn't have that shifter KidContra Mar 16 #94

100% agree lostnfound Mar 16 #51

Couldn't happen to a nicer asshole... GiqueCee Mar 16 #12

I'm sure he'll be just fine. jimfields33 Mar 16 #35

I'm sure you're right... GiqueCee Mar 16 #43

Guy is such a dick. Joinfortmill Mar 16 #18

My own favorite line about him on Twitter: a racist, a misogynist and a bad engineer. I would add business man. efhmc Mar 16 #80

It's OK. Elon still has a couple hundred billion dollars to fall back on. Midnight Writer Mar 16 #19

Consumer Reports reliability ratings and the fact the infrastructure does doc03 Mar 16 #20

Brought a hybrid last October kimbutgar Mar 16 #33

AEP raised their rates 30% last year, if we go to doc03 Mar 16 #50

Looks like Musk is using tfg's business plan. pazzyanne Mar 16 #21

Elon panders to right-wingers who tend to hate electric cars Ohioboy Mar 16 #22

Yep, it's a curious business model. tanyev Mar 16 #53

Hardly pandering, he's not endorsed either candidate and has been critical of Trump Shermann Mar 17 #148

Maybe not total pandering Ohioboy Mar 17 #150

There have been a lot of reports of people dying in them, including Mitch McConnell's billionair sister in law. mackdaddy Mar 16 #25

Sweden and Norway didn't get the memo Shermann Mar 16 #27

Buyer's Remorse will get them yet. Tesla is poorly engineered in several ways which will severely undercut their long Ford_Prefect Mar 16 #55

Tesla is making significant investments in Giga Press Shermann Mar 16 #61

Very small markets compared to US and China IronLionZion Mar 16 #69

Norway taxes the crap out of ICE vehicles NickB79 Mar 16 #86

This message was self-deleted by its author MichMan Mar 16 #141

"worst depreciating vehicles on the market right now" I saw one yesterday at a 'buy-here, pay here' used lot lol ArkansasDemocrat1 Mar 16 #30

Pissing off millions of potential customers is not good marketing. Musk may have noticed that MAGAts brewens Mar 16 #31

You'd ever know it in SF kimbutgar Mar 16 #32

The Cybertruck rust issue hurts too. apnu Mar 16 #34

The Cyberdruck body is made of stainless steel. Disaffected Mar 16 #45

I recall something about that... Pluvious Mar 16 #59

This may more be a matter of semantics than anything else. Disaffected Mar 16 #100

Stainless steel still stains and rusts, it's a common misconception IronLionZion Mar 16 #68

Where? Anywhere rain hits the uncoated body Mersky Mar 16 #70

Yeah but donte Mar 16 #76

When Tesla enjoyed the big run up melm00se Mar 16 #36

Brakes are not an issure with most EVs liberalgunwilltravel Mar 16 #49

Eloon is Trump lonely bird Mar 16 #39

Hoping liberalgunwilltravel Mar 16 #44

Well this part is certainly true....... riversedge Mar 16 #52

I'd walk before buying a NAZI-Mobile from him. sellitman Mar 16 #56

We loved our 3 Prius cars so far. LittleGirl Mar 16 #64

Maybe he could overestimate Tesla's value and sell it to his pal Trump. Ping Tung Mar 16 #58

Aww... this is so sad for poor elon... liberalla Mar 16 #60

Musk is a brilliant super genius like Trump IronLionZion Mar 16 #65

I had to laugh at the last line of the snippet.... SouthernDem4ever Mar 16 #67

All this and he picked a non winnable union strike with the Finnish countries PortTack Mar 16 #73

Judging by a few of the responses in the thread BannonsLiver Mar 16 #91

I certainly hope that The Elon Musk-led company's future is going to be very bright! chouchou Mar 16 #93

Always call it MAGA-Tesla to make stink stick to Musk like glue Submariner Mar 16 #95

Tesla stock price doubled last year and sales up 35%. . Doodley Mar 16 #97

I don't think Snackshack Mar 16 #103

i used to want a Tesla before I knew who Elon was budkin Mar 16 #109

I don't know where to start... WarGamer Mar 16 #114

Unfortunately, your logic requires looking past the shiny object. nt Shermann Mar 17 #153

I don't doubt this. But... cab67 Mar 16 #118

Tesla stock has alway been overpriced edhopper Mar 16 #124

Couldn't happen to a nicer guy. NYC2ATL Mar 16 #126

What is up with these click-baity headlines GenThePerservering Mar 16 #133

Tesla has an obnoxious CEO. RipVanWinkle Mar 16 #134

Yup, dragging the S&P 500 down. Joinfortmill Mar 17 #147