Posted on 12/20/2012 9:57:17 AM PST by george76
It’s a lucky thing for Tesla Motors shareholders that the U.S. Department of Energy loves the company’s loan applications.
Without the hundreds of millions of dollars has received from the federal government this year, the electric-car maker’s financials would be gasping for air as 2012 winds down.
Given the ugly state of Tesla’s finances — and the company’s sky-high valuation: almost $4 billion — it will rank among the top candidates in Silicon Valley for a 2013 stock collapse, unless it receives significantly more cash next year.
The Palo Alto, Calif., company’s financials are, in fact, in worse shape even than such high-profile Internet IPO flameouts as Zynga and Groupon
...
Obama ... will maintain access to the loans that have kept it afloat. And, in addition to those direct loans, Tesla also benefits from a federal tax credit for electric-car buyers of up to $7,500. Moreover, the state of California — home to the nation’s largest car market — offers a $2,500 rebate and has also mandated that car makers increase the number of electric vehicles they produce.
Even with that help, Tesla is awash in red ink.
What’s worse, it has a poor habit of failing to deliver to customers the cars it has promised them, while simultaneously raising the prices of those yet-undelivered cars.
(Excerpt) Read more at marketwatch.com ...
“unexpected”
Billions in tax payer funds (that will never be paid back) so that an electric car company that gives huge campaign contributions to the administration can make $100,000 electric cars that only the wealthy can buy...
Where did America go so wrong?
Where have all the Lefties gone?
They demanded clean energy cars, then are nowhere to be found, when those cars become available?
Fisker, Tesla, the Volt, these vehicles should be in short supply, as Leftists buy them all up.
Ah, that’s right. What’s good for you, isn’t good for me.
I get it.
Thing is I don’t think the cars are available. I have an acquaintance who said he is buying one of the Tesla models and as of a month ago said the car would not be available until early 2nd quarter next year.
IMO just another green energy scam company.
I drive by the Tesla plant in Fremont, CA, regularly. Last week I saw about 15-20 new Tesla cars covered by tarps in the back parking lot. I saw one prototype on the road some months ago, being tested, I presume.
Yes, you’re right. They haven’t been available have they.
I thought that Fisker looked pretty good, but there were plenty if kinks to be worked out there.
We can say that the Left sure hasn’t picked up the gauntlet when it comes to the Volt though.
There’s one that overcomes the distance problem, and they’re still not interested.
You know, if the green energy folks could put up, I wouldn’t ask them to shut up.
The Roadster is apparently available, but about 40% have already been recalled because of a fire hazard.
http://www.theregister.co.uk/2010/10/07/tesla_roadster_recall/
Why not just raise the price? After all, a Tesla does have some attributes of a Giffen good.
Yep, and your acquaintance’s down payment will be lost when the company folds.
Elon Musk was behind paypal and is worth 2 billion. He moved on to Tesla. Why are bailing out this guy? He has those Obama connections and bribed the right people?
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Elon Musk - Wikipedia, the free encyclopedia
en.wikipedia.org/wiki/Elon_Musk
Elon Musk (born 28 June 1971) is a South African American entrepreneur and inventor best known for founding SpaceX, and co-founding Tesla Motors and ...
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