Posted on 11/04/2017 7:34:24 AM PDT by jerod
Didn't help that the automaker's financial results also sucked
Tesla's share price took a dive Thursday morning as Republicans in Congress revealed they were planning to kill off a US federal tax credit for electric vehicles.
The proposed House tax bill calls for an immediate repeal of the $7,500-per-vehicle credit: something that would have an immediate knock-on impact for Tesla given that it only produces electric cars.
Its share price fell more than seven per cent to about $296 apiece from Wednesday's $321. The draft law emerged as the Elon-Musk-led automaker announced its worst-ever quarter, recording a $671m loss and admitting it had not met its production target for its new Model 3 car, producing just 220 of them against its 1,500 target.
Economists believe that the tax credit is a key driver for electric car sales, and cite the example of when the state of Georgia cut its $5,000 tax credit and saw sales of electric cars slump from 1,400 a month to just 100 a month in response.
“Prius”
the Prius isn’t an electric car: all of it’s power comes from its gasoline engine. It does however have excellent fuel economy because it uses re-generative braking (a technology used for decades on electric trains) and engine control technology that shuts down and restarts the gasoline engine during idle periods. There is a battery, but it’s merely for short term electric power buffering.
2018 Toyota Camry Hybrid $28-33K
2016 Toyota Camry Hybrid $16K (if you financed it you are probably upside down on selling it)
“Tesla will be building cars in China in about 3 years and every Chinese will be ordered to buy one ,LOL”
Actually, you go on a waiting list, party members first of course. Then, if approved you gave to provide proof of having secured a parking space, party members first of course....
Also, since they’ve been around quite a while, what IS happening with disposal of bad batteries/cars?
Without Government subsidies, Tesla will end up bankrupt.
I’m not sure the comparison works perfectly...I think Musk is a modern day robber baron. He has used hype to manipjlate stock price, and there is a shell game going on among his solar panel, battery wall, and car companies...they are all borrowing and lending money to each other (low interest government money) at high rates. I’m sure Musk makes money on Tesla every day, no matter the stock price.
IIRC Tesla has a recycling program where they gyarantee to buy back the batteries for a certain price. Of course, that assumes Tesla will be around to buy them.
“that may be true from a distance, but the fit and finish issues with those cars are myriad and not even close to what we’ve come to expect from Honda and Toyota:”
The Japanese cars are pieces of crap next to a Tesla. You are either Japanese, or you need to visit your Optometrist. There are dozens of them here where I live ( just over the hill from the Tesla Plant) so I am able to look at them up close every day. Also, was just in McCarran, NV (my family’s business supports the construction of the new Tesla battery plant there). Musk has made a huge bet there, with 3 million square feet of mfg space complete, and the build out to be something on the order of 12 million sf.
Prius owner here.
No tax advantage for the standard hybrid Prius.
The Prius Prime, AKA Plug-in Prius get 4K.
I would also note the Prius is my all time favorite second only to my beloved Suburban. We put 150k on the Sub and gave it to our son.
We have only had the Prius two years, zero problems, need more time to be certain, but looking very good.
The batteries are holding up very well, you will not find them in the in a landfill, they have a 10-year warranty. In the unlikely event of battery problems rebuilt can be found for $600 installed.
The Total Cost of Ownership (TCO) is rock bottom.
Had an Expedition with the 5.4 Triton, just changing the plugs is $500 plus more for broken plugs!My son and I spent most of a day to change 8 plugs! I never want to see one again!
Tesla is not ‘way ahead of the competition’. The exact real dollars for any Tesla can get any of several or many competitors that are every bit or more impressive an overall vehicle.
The cars available at the $75k-$145k price are numerous and almost all spectacular. Even the rare sub-$40k Tesla 3 has attractive competition by everyone from Acura to Volvo.
Tesla is an electric car. It is what electric cars have always been; a quirky indulgence.
“It’s not a sustainable company without the taxpayers’ subsidy”
Why? Not like the target market can’t afford the difference.
“Tesla is an electric car. It is what electric cars have always been; a quirky indulgence.”
I would respectfully disagree. For a luxury commute vehicle, the Tesla has no competition. Our son has a Nissan Leaf, which is a real POS because it has no range. Thankfully, he leased it, so he won’t take a bath on it when the lease ends. Teslas can go 300 miles or more today. Just how many people drive more than that during a given day. Sure, you can’t yet drive one from SF to LA, but it’s already close, and Tesla’s high-rate charging systems are much better than the Japanese cars.
Didn’t Musk throw a little ceremony for himself and journalists when he pulled out of Trumps Economic or business blue ribbon panel?
People ought to remember that discussion amongst varying opinion is much better than discussions in a mutual admiration society.
In other words, it’s an ELECTRIC car. Considered it its price range, rather than as an electric, its just another competitor, and has significant handicaps.
People in the price range of any Tesla do not have mpg as their top priority except as virtue signaling.
It’s not a sustainable company without the taxpayers’ subsidy so the wealthy can will buy Musk’s cars.
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Yet they have a waiting list of hundreds of thousands of people for the Model 3, each putting down a $1000 deposit. If anything, their biggest problem now is meeting demand.
The end is nigh. Tesla stock will likely be next to worthless in a month or two.
...
You could be right. How many puts do you own, or do you not put your money where your mouth is?
Nikola Tesla was not a failure at all. You’ve some serious balls to run your mouth so reckless. He just had no care for business.
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I agree he wasn’t a failure in regard to invention, however I disagree that he didn’t care for business, he was just terrible at it. He tried to compete with Edison, was very rich at one time, and then lost it all. Westinghouse refused to give him more money, though I read Westinghouse took care of his expenses during Tesla’s later life.
“You are either Japanese, or you need to visit your Optometrist”
you’re insulting the wrong person; all i did was post a link with over a half million hits about Tesla owners complaining about fit and finish: you need to log onto all of those links and insult all of those people instead, explaining to them how they must be Japanese or blind.
He was also too trusting of those he worked with. George Westinghouse cheated him big time after Tesla gave him alternating current. The life’s blood of the modern electric grid.
Put a v-12 in them and they will sell like hot cakes!
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