Posted on 09/19/2018 1:30:16 PM PDT by Hojczyk
Former General Motors Vice Chairman Bob Lutz discussed Elon Musk’s Tesla in a recent interview stating that the company is “headed for the graveyard.”
In a recent interview with CNBC the former Vice Chairman of General Motors, Bob Lutz, does not have high hopes for the future of Elon Musk’s electric-car manufacturer Tesla. According to Lutz, Tesla is “headed for the graveyard,” given the recent announcement that both the company and Musk are being investigated by the DOJ and the SEC.
“They will never make money on the Model 3 because the cost is way too high,” Lutz said during the interview this week. “He’s got 9,000 people in that assembly plant producing less than 150,000 cars per year,” he said, referring to Elon Musk. “The whole thing just doesn’t compute.”
Lutz further joked that a movie about the company could be in the works within the next few years: “The jaws are tightening and I think in another year or two we’ll see a movie called ‘Who Killed Tesla,’ a conspiracy movie starring Leonardo DiCaprio,” Lutz stated.
(Excerpt) Read more at breitbart.com ...
“why did the government have to bail them out?”
Healthcare and pensions.
The patents are probably worth something, though.
Hey, its only money,, the Fed can always print more. :-/
The big danger with buying a Tesla isn’t so much that the company will go under as much as it is that if the company goes under, every Tesla on the road today could get permanently disabled via software update by the company or its creditors as a way of reducing future liabilities.
When the Rats are back in power and outlaw fossil fuels, Tesla will be back on top.
I will never understand why people do software updates. They always suck more than just running the original version till it dies. A software update should pretty much be invisible to the user, instead every software update I ever get changes the way many things look and function.
I will take a real car, like the 720hp 2020 Shelby GT500.
Yep. Poor old 86 year old Bob Lutz is using old data. But he helps fill time on CNBC. Tesla stock is up 5% today.
“It has had its left turn signal going since it left the factory.”
NASACAR
Doc Brown will make his next time-traveling car from a Tesla.
I have two corvettes, a coupe and convertible. The vet is one of the “most American” made cars. In top 10.
I do want to add an EV. Not to save the polar bears, but to defeat Russia, Venezuela, Saudi Arabia, Iran, Iraq - you get the point.
Anybody with a Brain can see that.
“Uber and Lyft ... are destroying legit unsubsidized business (taxis).”
In many large metro areas, the so-called “legit” taxi companies were legalized monopolies. The value of the implicit subsidy they received could be measured in the value of the licenses or “medallions” required to legitimately operate. And they behaved like monopolies by delivering crummy service in trashy vehicles, often at high, fixed prices. Uber and Lyft disrupted these monopolies, which have had to respond by improving service and literally cleaning up their act or exiting the market.
There are only 2 American car companies that have not gone bankrupt. Ford and Tesla.
“Tesla’s going far. There’s one orbiting in the solar system now.”
Well at least it’s the fastest moving automobile in all of history!
Also, from what I hear, Tesla has an awful "dealership" network with an absolutely awful record of customer service.
That said, I have a family friend, a psychiatrist, who owns one and she loves it.
“There are only 2 American car companies that have not gone bankrupt. Ford and Tesla.”
Bought Ford stock, when it was a buck a share. While other car manufacturers were being bailed out, Ford stood strong. I figured they would survive, as always.
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