It's been a bad few weeks for Tesla

General Discussion

  1. Richard Cranium

    Richard Cranium FBBO Gold Member FBBO Gold Member

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    First this....

    Tesla with semi-autonomous Autopilot is totaled after slamming into a fire truck stopped at a red light at 60mph

    http://www.dailymail.co.uk/news/article-5722283/Tesla-Autopilot-slams-truck-stopped-red-light.html

    Then this....

    Tesla driver, 48, dies as his car smashes into a motorway central reservation and explodes into flames ‘when its battery went into meltdown

    http://www.dailymail.co.uk/news/art...rway-central-reservation-explodes-flames.html

    Now this....

    Tesla to cut 9% of jobs in 'difficult but necessary' reorganization

    https://www.cnbc.com/2018/06/12/tesla-to-cut-about-9-percent-of-jobs-across-company-report.html
     
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    • Dennis H

      Dennis H FBBO Gold Member FBBO Gold Member

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      I wish them success if they get off the government dole. Elon does not walk on water. Back in the early days, the boys made it on their own. Chrysler, Ford, Sloan, etc.
       
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      • KENTON

        KENTON Well-Known Member

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        Sure glad that was a truck instead of my Roadrunner.
         
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        • 64'Belvedere

          64'Belvedere Member

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          Not to get political as both sides are equally disastrous but had the free market been allowed to work back in 2008-9-10 one of the big 3 would have gone out of business (probably GM) and a guy like Musk (or anyone with a good idea for that matter) could have come along and bought factories and tooling for pennies on the dollar and probably had a good shot at making a better mousetrap......i.e. Tesla's. But GM and Chrysler were propped up by the US taxpayer so they could stay in business and waste billions more on bad decisions so the US taxpayer will have to prop them up during the next recession.
           
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          • Budnicks

            Budnicks Sir Posts A lot FBBO Gold Member

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          • 5.7 hemi

            5.7 hemi FBBO Gold Member FBBO Gold Member

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            Chrysler isn’t a US owned company anymore, so US tax dollars wouldn’t be needed to save them if it was a need to keep them afloat.
             
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            • SlinktRR

              SlinktRR Well-Known Member

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              64belv brings up a great point, maybe GM and ford should've fallen to create opportunities for a Musk type. However, losing bedrock American industry to foreign ownership was worth preventing especially at the time. 2008-2009 was a fast moving financial crisis.
               
            • BeeKool

              BeeKool FBBO Gold Member FBBO Gold Member

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              I wish it still was American owned. FIAT is really screwing it over, and it looks to be circling the drain.
               
            • 5.7 hemi

              5.7 hemi FBBO Gold Member FBBO Gold Member

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            • Richard Cranium

              Richard Cranium FBBO Gold Member FBBO Gold Member

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            • GrabberOrange69

              GrabberOrange69 FBBO Gold Member FBBO Gold Member

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              Plain and simple, they aren't going to make it long term. Certain pieces of the company, like battery technology and solar power efforts, will likely thrive long term, but the company is no where near profitability. It's really a Ponzi scheme being propped up by eager press reporting.

              Total units sold since inception of the Marque: 300,000. $4.157B dollars in debt. They have subsidized every unit over $13,000, and we haven't seen the beginning of the lawsuits certain to follow these battery meltdowns and auto pilot accidents. They have yet to turn a profit. At some point irrational exuberance will end, and the interest they pay on their debt will rise intolerably, and they will be unable to secure new loans; they will be forced into bankruptcy.
               
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