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 ...
2017 Q1 was 207. That is only 828 a year. How are you claiming they produced 153,000 in a year at only 207 cars a quarter.
Douchebag.
Tesla was the ONLY successful transition from the moribund Big Three to innovation and competition. Instead of rekindling a competitive, dynamic U.S. automobile industry following the ‘08/09 collapse by dividing up and re-starting the industry, Obambi merely handed it over intact to the labor unions who were otherwise near last in line in normal liquidation process — where was the rule of law back then?
Software updates on PCs are mainly for security reasons. And nowadays with Windows 10 they are there for Microsoft to put spyware on your computer.
The “taxi” companies were/are thieves.
In most places in the world a taxi only costs a few bucks to go a few miles, not $20 plus 20% tip to go 4 miles.
The medallions are theft by the municipalities who issue them on the taxi companies who pass those ridiculous costs on to their fares
I hope Tesla can succeed. We are down to two domestic auto manufacturers, Ford and GM. If we’re going to MAGA, we need to do better.
So, Mercedes and BMW making SUV’s of top quality some how makes them inferior to the UAW staffed GM and Ford?
If Ford nd GM were effective companies, Honda, Hyundai, Nissan, BMW, Volkswagen and Mercedes would not have manufacturing plants here. These companies can’t make America great again?
Investment by VCs is certainly not a “subsidy.” I worked for several VC financed young companies and they are looking for solid returns. If you miss your numbers, you get a new VP Sales. Miss again you get a new CEO. Miss again and half the company is looking for new work. It is brutally efficient and not for the faint of heart. But a “subsidy”? Ha!
Those are from Volkswagen. Makes me think twice about VW. As in less likely to buy.
Where do you see that in my post?
If Ford nd GM were effective companies, Honda, Hyundai, Nissan, BMW, Volkswagen and Mercedes would not have manufacturing plants here. These companies can’t make America great again?
I won't fault anyone for choosing a non-UAW built car. I held my nose over the UAW label myself when I bought my last car. BTW, it's still running fine.
That said, to answer your question, no, not by themselves. It's great that Americans have those jobs, but the technology belongs to another country and the profits go to another country. We need a stronger auto industry to keep that technology and those profits here. That was my only point.
It will come back as V'ger on steroids!
If you buy stock in those companies, the profits go to you
I’ve made that point myself. Yes, that’s another idea. If I go transplant for my next purchase (very likely), that will be on my list.
Bump for later.
if GM knows so much about building vehicles profitably, why did the government have to bail them out?
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I think we know the answer to that question - the government didn’t HAVE TO bail them out. But Obama used that as an opportunity to advance his brand of FASCISM and paybacks. A lot of mistakes were made by GM over many years, but the government should have done an orderly liquidation. With all the technology and patents owned by GM someone would have gladly bought the assets at a bargain price and continued the business. It would have been union-busting of the highest order. But who could imagine a route where the taxpayers weren’t shafted to shore up the auto industry. The only person that I can think of who might have pulled the plug is Trump - and since he got so much support from the Midwest it even causes me to wonder what he might have done.
I concede your point. Subsidy does not equal venture capital.
I was trying to illustrate that Uber/Lyft are similar to Tesla in that they only exist because they are being held up massively by outside investment. None of them have a profit making model.
The $5 rides people take downtown really cost $15. Which is what a cab would cost. The remaining $10 is made up by venture capital and by taxpayer subsidizing the many costs of the employees that employers are supposed to cover but Uber/Lyft are not.
They are trying to grab market share to the point where cabs go out of business (predatory pricing). I’d trust doesn’t succeed they hope to last until driverless cars, a fast fading possibility, come in at a price where they can stop using drivers and their capital (cars).
Similarly Tesla would be long gone if not propped up and I don’t see where they have a prayer of managing a profit although I’m not nearly as close to that business.
I see your point.
The Uber and Lyft business models are amazing...get people to use their own assets and don’t pay them enough to even cover their depreciation.
Taxis are monopolies in their area, yes.
Vehicles for hire use public roads and infrastructure. This they are regulated or the public roads and infrastructure get exploited.
Perhaps you are a pure Libertarian and believe only in toll roads and unlimited vehicles for hire. If so I can’t help you. We currently do not have that system and there is NO level playing field.
I’ll cite two examples. Taxis are limited in my town to 2000. TNCs have no limitation at all. By their own admission Uber has over 40,000 drivers here.
Every time a taxi company replaces a vehicle they have to do a months long Environmental impact Report and the vehicle must be hybrid. TNCs have no such requirement and can use whatever vehicle they choose
I could list a hundred other irregularities on the playing field. It is grossly unjust and I can’t Believe it’s been allowed for so long.
My coupe is 2015 and convertible is 2016. Hopefully I have better maintenance luck.
Purchased the coupe and leasing the conv. The conv seems great so I’m likely to purchase when the 3 year lease is up if no problems.
I linked the last four quarters. Four quarters equals one year. I didn’t say it was 153,000, in post 50 I said the last four quarters was 143K.
“I linked the last four quarters. Four quarters equals one year. I didn’t say it was 153,000, in post 50 I said the last four quarters was 143K.”
OK. Q3 2017 was 207 cars. That is a rate of 828 cars a year. NO WAY did they produce 143k at that rate.
Check your math.
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