They were already at positive margins in Q2 without any AWD and P (heavy profit margins) in the mix. Now they're 50% of the mix. Deliveries this quarter will be three times what they were in Q2. It's not difficult math. Combine it with the restructuring in Q2 that added costs in Q2 (such as severance) to save money from Q3 onward, the cars stockpiled in Q2 (to avoid hitting the 200k limit) that have been delivered in Q3, and of course the continuing increases in production rate (reduces depreciation and labour per vehicle) and margins (reduced scrap, reduced rework with time**)... again, it's really obvious to see where they're headed.
** It's funny when shorts complain about Tesla's rate of scrap and rework without realizing that they're laying out a solid case for Model 3 having massive margins as the production process continues to get refined over the coming quarters. If they're already having slightly positive margins with such "high" scrap / rework rates, what exactly do you think happens to the margins when scrap / rework rates are low?
US and Canada. And they'll sell it outside of them whenever they need to. They're not, so they don't. Obviously.
Is international travel unheard of
Right. Again, note my totally-believing-you face that you, a person who hates Teslas, took time out of your vacation (or what it a trip specifically for this?;) ) to test drive a Model 3. You were planning a family trip to the US some time in the past several months and thought, "You know what? I'm going to get in touch with a Tesla store representative and book a test drive, and take time out of wherever it was that I actually planned to do in the US in order to drive to them (they're hardly "everywhere") and test drive it, just so I could sound more authoritative when I complained about it on the internet.
Focus on the eyes. See the totally-believing-you stare? That's because I'm totally believing you.
The Dutch tax is still just for company car drivers; let's not pretend it is about people just randomly buying themselves a personal car. And doesn't have any affect at all for vehicles under €50k, and only incremental over that.
"around 15000" -> 18600. And the production rate has been widely reported on. Yes, the Kona is already overbooked by years in some markets. Estimates in Norway are that a new order now won't be filled until late 2020.
If you're fine with "econoboxy" interiors / less sporty performance and handling, not having an app to preheat / precool / etc, and having a rather small interior, as well as having highway charging speeds (assuming you have high power CCS stations en route, not 50kW stations) half that of Model 3 LR and probably around 70% of Model 3 SR - and if you can get ahold of one - Kona could be right for you. While it's not up to Model 3 charging rates, it's certainly way better than most other lower-end EVs (and makes #Rapidgate Leafs look like a joke;) ). But don't delay if you want one.
** Model 3 LR RWD Aero: Up to 117kW 0-50% (50% * {310 nominal miles, 334 measured} = 155 nominal, 167 measured miles). Kona LR: Up to 70kW 0-58% (58% * 258 miles = 149 miles = less than Model 3, so we'll be nice to the Kona and use the point where its (sharp) taper begins as our cutoff, not the Model 3's). EPA hwy efficiency: Model 3 LR AWD = 123 MPGe, Kona LR hwy efficiency = 108 MPGe). (70 / 117) * (108 / 123) = 52.5%.
Model 3 SR is 7% lighter, so should be about 3% more efficient. The difference in charging between the S/X 100 packs and the 75 packs is that the former charges at near 120kW, while the latter charges at nearly 110kW; both begin taper around the same point. So one could assume something similar (but perhaps slightly more of a difference) between the LR and SR packs. Also, the Model 3 SR will begin to taper before you get to the Kona's taper point, although Teslas use a gentle linear taper (Kona under goes a series of sharp instant tapers).
Anybody long does not want it to drop below $300 anytime soon, it would be a bad sign that they would not likely hit the Feb convertible strike price of $360 and need to part with $990M in cash.
Apparently you think that we're currently in late January?
Tesla will have had two profitable quarters by the time that the convertible notes are due.
LOL back. A lot of us here on Slashdot aren't Americans
And yet somehow pretend that the US plus Canada is Tesla's total market nonetheless - rather than it being a quarter of their market.
One reason is, of course, the absurdly high prices of what is otherwise a pretty unremarkable vehicle.
Highest-polling consumer satisfaction year-over-year of any brand.
...the sales outside of the two countries that provide a significant subsidy are down sharply: https://twitter.com/auto_schmi
Per-country month-by-month sales are mostly a reflection of delivery allocation. You people have been nonstop predicting a Tesla demand cliff ever since it founded - every year, every month. You'd think a broken record would have been right once in all this time.
The Dutch subsidy is disappearing next year
The subsidy in question only concerns commercial buyers. It's a 4% currently, but will go to 22% for the amount of a car's price over €50000. So, say, for an €80000 Model S the tax for commercial buyers (again, reiterating that aspect) goes from €3200 to €8600, or €5200 more expensive. Meaningful, but not dramatic either for someone in the market for an €80000 car; nothing remotely like, say, the HK case (which wasn't just about commercial cars). For a €50000-or-less Model 3 (arriving in NL early next year), it will have no impact whatsoever. For, say, a €60000 well optioned Model 3, it only adds €1800 to the price.
This is your trump card? To overcome the huge annual year-over-year EV demand growth? *snicker*
But the major shift in the interest away from Tesla in Europe is due to new models, real cars from real car manufacturers
*snicker*. Why, yes, cars being produced in tiny volumes are going to totally kill Tesla.
Econoboxen: Maybe it'll be the Hyundai Kona that kills them? Yeah, with global annual production volumes equal to three weeks of Model 3 production (which itself is far from at max), that's totally going to destroy them. Niro? Same. Meanwhile, a number of older econobox models are declining or disappearing. Hey, maybe Leaf can overcome its order-of-magnitude falling behind Model 3 with its new cooling system fixing #Rapidgate! Except, um, the same was said about the E-NV200, and its cooling system is terrible, and only slightly reduces the consequences of #Rapidgate. Here, name your "Tesla killer", go on!
Luxury EVs: What about the (delayed) I-Pace, that car that eats 275 Wh/km@88 kph (Model 3 = half that) but can only charge at 70-80kW at rarer higher power CCS stations for only 30% of its SoC before taper (Model 3 = 50% SoC @ 117kW from current superchargers, more from V3) and only ~45kW from the much more common lower power stations, has no more passenger "area" inside than a Model 3 (just higher) despite laughably pretending that it's X sized because it's a "SUV", has a hilariously awkward nav system and an AP that drives like its drunk, and is only planned at production volumes of (estimates vary) 10-30k per year, with the largest chunk of those going to Waymo, not private buyers? My god, Tesla should fear for its life!;) E-Tron looks to be in the exact same situation of low volumes and guzzling energy without comparable charge rates, meaning you can't actually use it like... well, a car. Aka, a device you can actually use to drive between point A and point B even if A and B aren't near each other. If it can only take you around your local area, that a neighborhood electric vehicle, and it's at best a second car. The first one in the luxury segment that looks like it will be interesting is the Taycan (though their burn-out-your-cells charge rates are concerning, they at least understand the importance of streamlining), although t
Nice concern trolling; it's funny how the shorts and Tesla opponents vocally "care" way much more about the timing of the base model than the actual reservation holders. Because Tesla is doing the exact same thing as Jaguar is doing, as Hyundai is doing, etc (selling higher-optioned-out variants of their EVs first).
They can sell every LR+PUP they produce, even without opening up three quarters of their global market. But they should totally sell lower margin versions instead in order to make a bunch of trolls happy, right?
The plan was to go private with around 3/4ths of the current shareholders, thus capping the cost and minimizing how much of a controlling stake the Saudis would have gotten. Institutional investors control most of Tesla's stock. If there's no buy-in from the institutional investors, such a plan is impossible. Musk only owns about a fifth of Tesla; he can propose whatever he wants, in association with whoever he wants, but that doesn't mean it's going to happen.
when he attacked one of the brave cave divers in Thailand
1) Vern Unsworth was - despite a huge amount of bad reporting - not one of the rescuers. He's the guy who reported the initial information about the cave to the rescue team, as he lives nearby and had spent a lot of time exploring it.
2) Musk's comments - while inappropriate - didn't come in a vacuum. They came after Unsworth got on international television and told Musk to shove the submarine up his arse. The submarine that had been requested by Rick Stanton, the dive co-lead, down to the specific specifications for it, with encouragement to keep working on it right up to the last day.
3) Even after Musk publicly apologized to Unsworth, Unsworth's mother did an interview where she called for Musk to be shot. Lovely family, really. (I guarantee you, there's far more people out there who have the hatred of Musk and the means to kill him if they wanted than people who even know that Vern Unsworth exists).
PopeRatzo is parroting Azealia Banks, who's probably as famous for being a fantasist who starts fights (both literal and figurative) with everyone from DJ Khalid to Sarah Palin as she is for being a rapper. She's permabanned from Twitter, if that gives you any idea; that's not easy to achieve. For those who care: she arrived that weekend right as Musk and Grimes were leaving. Not only were they not at home that weekend (as confirmed by flight records), she wasn't in Musk's house; she was staying in a guest house on the lot (there's five separate buildings). Azealia was apparently mad that she'd been invited for a recording session by Grimes and then was stood up.
LSD is the last thing an obsessive workaholic would ever touch; it lasts all day and you can't focus on anything. At least Azealia could have picked something that would at least be plausible, like meth.
Musk does, however, use Ambien. Of course, so does, what, one in every 30 people in the US?
Here's to hoping it drops below 300. I've got a buy order in place:)
One thing I love about TSLA is the guaranteed volatility. People freak out about short-term news, and then forget all about it, then freak out about the next thing, then forget about it. You look at a graph of the stock, all of the spikes and plunges, and you have to struggle to remember what exactly it was that the market was freaking out about on any given low and why it didn't matter just weeks later.
As a long, you can always trust that no matter how good the news, the shorts will find some way to spin it as not actually being good news. There will always be another low to for you to buy low, so go ahead and sell high:) This might change after the Q4 report... I really doubt the Q3 report alone will do it, though. They'll just spin the profit as a "one-time thing" and then go back to your regularly scheduled doomsaying.
Those roads would have been bid at 2 years, and at $100 million per mile, but he'd get them done in 4 years, at $200 million per mile
Only if the normal cost and time for said roads would be 8 years and $1B per mile.
As a general rule, Musk sets "ridiculously aggressive" targets for his companies, but only hits "quite aggressive" ones. But better to shoot for the stars and miss than shoot for the gutter and hit it. As a reminder: even with the half-year delay** on the Model 3 production scaleup, they still scaled up faster than the Bolt, which was built on an existing line with an existing workforce. And now Tesla's volumes now make everyone else look like they're missing a zero.
** Then again, the *original* schedule for the Model 3 wasn't to start production until the end of 2017 anyway; they only missed the *moved up* schedule, not the original one.
As Tesla has repeatedly pointed out, a profitable company does not need equity rounds. The stock spiked after the Q2 report because the market has been steadily coming to the realization that Tesla wasn't BS'ing in Q1 when they said that they'll be sustainably profitable starting in "Q3 or Q4" - since upgraded to specifically "Q3". This quarter. Which is over half over.
stalling demand
LOL. Why is it that Americans always forget that there's a world outside of America?
Model 3 sales are only open to the US and Canada - and I watch even people from there trying to pass the time waiting for their cars every day on the Tesla forums. Yes, if you're very lucky and they happen to have the version you config on hand for delivery to your market, you might get your car in 1-2 weeks. For most people, waits are still over a month, and some, several months. But if you're outside the US and Canada? Hurry up and wait. Every person who orders in the US and Canada jumps in line ahead of us. There's no sign that they're even close to coming here - no spy shots of Eurospec cars, no filed documents, no change in announced plans (aka early next year), no opening up configs, nothing.
About a quarter of the Model 3 market is the US, about a quarter is Europe, about a quarter is China, and about a quarter is "everywhere else". That first quarter (plus Canada) is eating up all the production (now over 6k/wk), and shows no signs of relenting anytime soon.
This is, of course, just for "first production" variants, where you have to get LR and PUP, and can't get air suspension or the tow package - and only for people that can finance the cars themselves (Tesla-provided financing won't open until the latter half of next year). So it's a fraction of a fraction of the configs, in a small portion of the market, that we're still waiting for them to burn through the backlog on.
It's really frustrating hearing shorts and short-aligned people saying things like "There's no demand!". That's like being in Eritrea during a famine and saying "Nobody wants all this food we brought!". All of us over here might as well be wearing T-shirts with the word "DEMAND" written on it in giant letters, while we twiddle our thumbs while waiting at least for the chance to config a first production car, let alone any other config. Note that we haven't even gotten into "demand levers" like advertising or having a not-so-ridiculously-sparse network of stores and the like. For example, in Iceland we have the second highest rate of EV adoption in the world**, yet the rate of Tesla ownership is proportionally quite low... because they're just not here. No stores, no service centres, no superchargers, nothing. It's all ship in / ship out.
** Among sovereign countries. Also, it's mostly PHEVs, not BEVs, due to charger coverage issues - a significant contrast to Norway, which holds the #1 slot and has a much higher BEV fraction due to an excellent charging network
1) Actually, by design, he tries to interact with as large of a portion of the company as possible. He's strongly of the philosophy that a CEO should personally experience all parts of a company's business to get a real understanding of what's going on and what's required.
2) Sales people complaining about emails not sent by him are not personally "interacting with" him.
3) Get your shorts in! Keep your skin in the short game through the Q3 earnings report;)
The very article you linked says things like "The Tesla CEO has sacrificed sleep and worked into the wee hours on the factory floor, against the conventional wisdom of mental-health advocates and CEO coaches".
Nobody has said that Elon hasn't had a vacation in years. He very publicly went to Israel with his kids early this year, and posted photos from it. He hasn't taken more than a week off at a time in years. He basically goes through long bursts with little sleep up until specific deadlines, then gets away for a couple days, a couple times per year. The only time off since the Israel trip was his brother's three-day wedding in Spain, arriving in the morning on the same day as it started - as confirmed by the flight records. There was a several hour stopover in Belfast on the way back.
Numerous people at the factory, both on and off the record, have confirmed that he does sleep on that couch.
Don't worry, you can also find stories today where they found a couple disgruntled salespeople to complain about the company, being reported as front-page news all over the place. One was mad that someone emailed a picture of the couch Musk sleeps on. Another was mad that people are nice to Elon in meetings.
Given that the company has ~40k employees, they can surely run hit pieces like this every day, all year long.
Having not produced an $35k car, fElon Musk is about to not produce $25k car. In three years.
1) Is your view that companies should offer lower-margin variants of their vehicles while they're still scaling production to meet the demand for their higher margin vehicles? 2) You do realize that most EV manufacturers are doing this right? I-Pace is doing this, Taycan is doing this, Kona is doing this, etc. 3) Nice distortion of Musk's statements on the interview. He was very careful to repeatedly express the caveats that 3 years would be in an ideal scenario only.
Having not secured funding, fElon Musk is desperate to find investors
Again, you keep using the word "investors" without clarifying what you mean. Tesla has investors holding all of their stock. And is not seeking further investment for fundraising. I think you're using vague terms while talking about privatization, but that's an entirely different story. Tesla has been quite clear that they're seeking a larger pool of investors to dilute the Saudi investment.
And while this is a bit of an aside, but as a retail investor, I'm very glad that Tesla saw fit to let all investors know about their privatization plans, rather than what many companies do which is only negotiate with their large retail investors behind the curtain, often leading to retail investors getting screwed over.
Tesla will most likely bankrupt by the beginning of next year.
And this is where a figurative LOL turns literal;)
Right now, Tesla appears to be on track to beat, not simply meet, their Q3 projections (which were only for an average of 4k per week across the quarter). They have a very straightforward path to profitability ahead of them - production volumes are being sustained at far higher levels than in Q2, margins were already positive in Q2 without AWD and P, which are now 50% of the take, so even if you assume no process improvements whatsoever (which are the primary focus at present), that alone is going to generate sizeable margins.
But by all means - please short, short, short! Come on, how much interest will you pay on your credit cards or home mortgage versus how much you'd make when Tesla "goes bankrupt", right? Get those shorts in!
And OMG, stop the presses, a few cars out of over 70000 turned out bad! Hint: the plural of "viral anecdote shared endlessly by short sellers who scour twitter and Tesla forums for any bad examples they can find" isn't "data". If it's data you're looking for...
2) I have no clue what you mean by "lack of investors". Obviously, all of Tesla's stock is owned. Actually in a way well more than "all of Tesla's stock", as people who've shorted the stock have put other people's borrowed stock back on the market, and people have bought *that* as well. If you mean "lack of interest in a capital round", Tesla has no interest whatsoever in another capital round; they plan to fund their expansion internally. If you mean for going private, however, they would like more to water down Saudi interests - although that means paying a premium over market prices.
3) SEC investigations are rarely fast, and can take years. By far the most likely result, if they find against Musk, would be a fine ranging from hundreds of thousands to tens of millions. Against him personally, not against Tesla (the SEC has generally taken on the view that it's not right to punish shareholders for an individual's actions that may have worked against them).
Slashdot Mirror
They were already at positive margins in Q2 without any AWD and P (heavy profit margins) in the mix. Now they're 50% of the mix. Deliveries this quarter will be three times what they were in Q2. It's not difficult math. Combine it with the restructuring in Q2 that added costs in Q2 (such as severance) to save money from Q3 onward, the cars stockpiled in Q2 (to avoid hitting the 200k limit) that have been delivered in Q3, and of course the continuing increases in production rate (reduces depreciation and labour per vehicle) and margins (reduced scrap, reduced rework with time**)... again, it's really obvious to see where they're headed.
** It's funny when shorts complain about Tesla's rate of scrap and rework without realizing that they're laying out a solid case for Model 3 having massive margins as the production process continues to get refined over the coming quarters. If they're already having slightly positive margins with such "high" scrap / rework rates, what exactly do you think happens to the margins when scrap / rework rates are low?
US and Canada. And they'll sell it outside of them whenever they need to. They're not, so they don't. Obviously.
Right. Again, note my totally-believing-you face that you, a person who hates Teslas, took time out of your vacation (or what it a trip specifically for this? ;) ) to test drive a Model 3. You were planning a family trip to the US some time in the past several months and thought, "You know what? I'm going to get in touch with a Tesla store representative and book a test drive, and take time out of wherever it was that I actually planned to do in the US in order to drive to them (they're hardly "everywhere") and test drive it, just so I could sound more authoritative when I complained about it on the internet.
Focus on the eyes. See the totally-believing-you stare? That's because I'm totally believing you.
The Dutch tax is still just for company car drivers; let's not pretend it is about people just randomly buying themselves a personal car. And doesn't have any affect at all for vehicles under €50k, and only incremental over that.
"around 15000" -> 18600. And the production rate has been widely reported on. Yes, the Kona is already overbooked by years in some markets. Estimates in Norway are that a new order now won't be filled until late 2020.
If you're fine with "econoboxy" interiors / less sporty performance and handling, not having an app to preheat / precool / etc, and having a rather small interior, as well as having highway charging speeds (assuming you have high power CCS stations en route, not 50kW stations) half that of Model 3 LR and probably around 70% of Model 3 SR - and if you can get ahold of one - Kona could be right for you. While it's not up to Model 3 charging rates, it's certainly way better than most other lower-end EVs (and makes #Rapidgate Leafs look like a joke ;) ). But don't delay if you want one.
** Model 3 LR RWD Aero: Up to 117kW 0-50% (50% * {310 nominal miles, 334 measured} = 155 nominal, 167 measured miles). Kona LR: Up to 70kW 0-58% (58% * 258 miles = 149 miles = less than Model 3, so we'll be nice to the Kona and use the point where its (sharp) taper begins as our cutoff, not the Model 3's). EPA hwy efficiency: Model 3 LR AWD = 123 MPGe, Kona LR hwy efficiency = 108 MPGe). (70 / 117) * (108 / 123) = 52.5%.
Model 3 SR is 7% lighter, so should be about 3% more efficient. The difference in charging between the S/X 100 packs and the 75 packs is that the former charges at near 120kW, while the latter charges at nearly 110kW; both begin taper around the same point. So one could assume something similar (but perhaps slightly more of a difference) between the LR and SR packs. Also, the Model 3 SR will begin to taper before you get to the Kona's taper point, although Teslas use a gentle linear taper (Kona under goes a series of sharp instant tapers).
Wait 10 1/2 weeks.
No. It takes profit. They're very different things.
Keep talking.
Apparently you think that we're currently in late January?
Tesla will have had two profitable quarters by the time that the convertible notes are due.
And yet somehow pretend that the US plus Canada is Tesla's total market nonetheless - rather than it being a quarter of their market.
Highest-polling consumer satisfaction year-over-year of any brand.
Per-country month-by-month sales are mostly a reflection of delivery allocation. You people have been nonstop predicting a Tesla demand cliff ever since it founded - every year, every month. You'd think a broken record would have been right once in all this time.
The subsidy in question only concerns commercial buyers. It's a 4% currently, but will go to 22% for the amount of a car's price over €50000. So, say, for an €80000 Model S the tax for commercial buyers (again, reiterating that aspect) goes from €3200 to €8600, or €5200 more expensive. Meaningful, but not dramatic either for someone in the market for an €80000 car; nothing remotely like, say, the HK case (which wasn't just about commercial cars). For a €50000-or-less Model 3 (arriving in NL early next year), it will have no impact whatsoever. For, say, a €60000 well optioned Model 3, it only adds €1800 to the price.
This is your trump card? To overcome the huge annual year-over-year EV demand growth? *snicker*
*snicker*. Why, yes, cars being produced in tiny volumes are going to totally kill Tesla.
Econoboxen: Maybe it'll be the Hyundai Kona that kills them? Yeah, with global annual production volumes equal to three weeks of Model 3 production (which itself is far from at max), that's totally going to destroy them. Niro? Same. Meanwhile, a number of older econobox models are declining or disappearing. Hey, maybe Leaf can overcome its order-of-magnitude falling behind Model 3 with its new cooling system fixing #Rapidgate! Except, um, the same was said about the E-NV200, and its cooling system is terrible, and only slightly reduces the consequences of #Rapidgate. Here, name your "Tesla killer", go on!
Luxury EVs: What about the (delayed) I-Pace, that car that eats 275 Wh/km@88 kph (Model 3 = half that) but can only charge at 70-80kW at rarer higher power CCS stations for only 30% of its SoC before taper (Model 3 = 50% SoC @ 117kW from current superchargers, more from V3) and only ~45kW from the much more common lower power stations, has no more passenger "area" inside than a Model 3 (just higher) despite laughably pretending that it's X sized because it's a "SUV", has a hilariously awkward nav system and an AP that drives like its drunk, and is only planned at production volumes of (estimates vary) 10-30k per year, with the largest chunk of those going to Waymo, not private buyers? My god, Tesla should fear for its life! ;) E-Tron looks to be in the exact same situation of low volumes and guzzling energy without comparable charge rates, meaning you can't actually use it like... well, a car. Aka, a device you can actually use to drive between point A and point B even if A and B aren't near each other. If it can only take you around your local area, that a neighborhood electric vehicle, and it's at best a second car. The first one in the luxury segment that looks like it will be interesting is the Taycan (though their burn-out-your-cells charge rates are concerning, they at least understand the importance of streamlining), although t
Nice concern trolling; it's funny how the shorts and Tesla opponents vocally "care" way much more about the timing of the base model than the actual reservation holders. Because Tesla is doing the exact same thing as Jaguar is doing, as Hyundai is doing, etc (selling higher-optioned-out variants of their EVs first).
They can sell every LR+PUP they produce, even without opening up three quarters of their global market. But they should totally sell lower margin versions instead in order to make a bunch of trolls happy, right?
The plan was to go private with around 3/4ths of the current shareholders, thus capping the cost and minimizing how much of a controlling stake the Saudis would have gotten. Institutional investors control most of Tesla's stock. If there's no buy-in from the institutional investors, such a plan is impossible. Musk only owns about a fifth of Tesla; he can propose whatever he wants, in association with whoever he wants, but that doesn't mean it's going to happen.
1) Vern Unsworth was - despite a huge amount of bad reporting - not one of the rescuers. He's the guy who reported the initial information about the cave to the rescue team, as he lives nearby and had spent a lot of time exploring it.
2) Musk's comments - while inappropriate - didn't come in a vacuum. They came after Unsworth got on international television and told Musk to shove the submarine up his arse. The submarine that had been requested by Rick Stanton, the dive co-lead, down to the specific specifications for it, with encouragement to keep working on it right up to the last day.
3) Even after Musk publicly apologized to Unsworth, Unsworth's mother did an interview where she called for Musk to be shot. Lovely family, really. (I guarantee you, there's far more people out there who have the hatred of Musk and the means to kill him if they wanted than people who even know that Vern Unsworth exists).
PopeRatzo is parroting Azealia Banks, who's probably as famous for being a fantasist who starts fights (both literal and figurative) with everyone from DJ Khalid to Sarah Palin as she is for being a rapper. She's permabanned from Twitter, if that gives you any idea; that's not easy to achieve. For those who care: she arrived that weekend right as Musk and Grimes were leaving. Not only were they not at home that weekend (as confirmed by flight records), she wasn't in Musk's house; she was staying in a guest house on the lot (there's five separate buildings). Azealia was apparently mad that she'd been invited for a recording session by Grimes and then was stood up.
LSD is the last thing an obsessive workaholic would ever touch; it lasts all day and you can't focus on anything. At least Azealia could have picked something that would at least be plausible, like meth.
Musk does, however, use Ambien. Of course, so does, what, one in every 30 people in the US?
An effective fire department is your metaphor? Damage successfully contained, back to business as usual is your metaphor?
Here's to hoping it drops below 300. I've got a buy order in place :)
One thing I love about TSLA is the guaranteed volatility. People freak out about short-term news, and then forget all about it, then freak out about the next thing, then forget about it. You look at a graph of the stock, all of the spikes and plunges, and you have to struggle to remember what exactly it was that the market was freaking out about on any given low and why it didn't matter just weeks later.
As a long, you can always trust that no matter how good the news, the shorts will find some way to spin it as not actually being good news. There will always be another low to for you to buy low, so go ahead and sell high :) This might change after the Q4 report... I really doubt the Q3 report alone will do it, though. They'll just spin the profit as a "one-time thing" and then go back to your regularly scheduled doomsaying.
BTW, you guys should really diversify your arguments. Here's a tool that may help.
Only if the normal cost and time for said roads would be 8 years and $1B per mile.
As a general rule, Musk sets "ridiculously aggressive" targets for his companies, but only hits "quite aggressive" ones. But better to shoot for the stars and miss than shoot for the gutter and hit it. As a reminder: even with the half-year delay** on the Model 3 production scaleup, they still scaled up faster than the Bolt, which was built on an existing line with an existing workforce. And now Tesla's volumes now make everyone else look like they're missing a zero.
** Then again, the *original* schedule for the Model 3 wasn't to start production until the end of 2017 anyway; they only missed the *moved up* schedule, not the original one.
As Tesla has repeatedly pointed out, a profitable company does not need equity rounds. The stock spiked after the Q2 report because the market has been steadily coming to the realization that Tesla wasn't BS'ing in Q1 when they said that they'll be sustainably profitable starting in "Q3 or Q4" - since upgraded to specifically "Q3". This quarter. Which is over half over.
LOL. Why is it that Americans always forget that there's a world outside of America?
Model 3 sales are only open to the US and Canada - and I watch even people from there trying to pass the time waiting for their cars every day on the Tesla forums. Yes, if you're very lucky and they happen to have the version you config on hand for delivery to your market, you might get your car in 1-2 weeks. For most people, waits are still over a month, and some, several months. But if you're outside the US and Canada? Hurry up and wait. Every person who orders in the US and Canada jumps in line ahead of us. There's no sign that they're even close to coming here - no spy shots of Eurospec cars, no filed documents, no change in announced plans (aka early next year), no opening up configs, nothing.
About a quarter of the Model 3 market is the US, about a quarter is Europe, about a quarter is China, and about a quarter is "everywhere else". That first quarter (plus Canada) is eating up all the production (now over 6k/wk), and shows no signs of relenting anytime soon.
This is, of course, just for "first production" variants, where you have to get LR and PUP, and can't get air suspension or the tow package - and only for people that can finance the cars themselves (Tesla-provided financing won't open until the latter half of next year). So it's a fraction of a fraction of the configs, in a small portion of the market, that we're still waiting for them to burn through the backlog on.
It's really frustrating hearing shorts and short-aligned people saying things like "There's no demand!". That's like being in Eritrea during a famine and saying "Nobody wants all this food we brought!". All of us over here might as well be wearing T-shirts with the word "DEMAND" written on it in giant letters, while we twiddle our thumbs while waiting at least for the chance to config a first production car, let alone any other config. Note that we haven't even gotten into "demand levers" like advertising or having a not-so-ridiculously-sparse network of stores and the like. For example, in Iceland we have the second highest rate of EV adoption in the world**, yet the rate of Tesla ownership is proportionally quite low... because they're just not here. No stores, no service centres, no superchargers, nothing. It's all ship in / ship out.
** Among sovereign countries. Also, it's mostly PHEVs, not BEVs, due to charger coverage issues - a significant contrast to Norway, which holds the #1 slot and has a much higher BEV fraction due to an excellent charging network
"Kills"? Try the word "murders". Killing people in a car crash can be accidental. This guy murdered two innocent people.
Yeah, a pile of scrap cardboard for recycling caught fire. OMG, stop the presses!
1) Actually, by design, he tries to interact with as large of a portion of the company as possible. He's strongly of the philosophy that a CEO should personally experience all parts of a company's business to get a real understanding of what's going on and what's required.
2) Sales people complaining about emails not sent by him are not personally "interacting with" him.
3) Get your shorts in! Keep your skin in the short game through the Q3 earnings report ;)
The very article you linked says things like "The Tesla CEO has sacrificed sleep and worked into the wee hours on the factory floor, against the conventional wisdom of mental-health advocates and CEO coaches".
Nobody has said that Elon hasn't had a vacation in years. He very publicly went to Israel with his kids early this year, and posted photos from it. He hasn't taken more than a week off at a time in years. He basically goes through long bursts with little sleep up until specific deadlines, then gets away for a couple days, a couple times per year. The only time off since the Israel trip was his brother's three-day wedding in Spain, arriving in the morning on the same day as it started - as confirmed by the flight records. There was a several hour stopover in Belfast on the way back.
Numerous people at the factory, both on and off the record, have confirmed that he does sleep on that couch.
Don't worry, you can also find stories today where they found a couple disgruntled salespeople to complain about the company, being reported as front-page news all over the place. One was mad that someone emailed a picture of the couch Musk sleeps on. Another was mad that people are nice to Elon in meetings.
Given that the company has ~40k employees, they can surely run hit pieces like this every day, all year long.
1) Is your view that companies should offer lower-margin variants of their vehicles while they're still scaling production to meet the demand for their higher margin vehicles?
2) You do realize that most EV manufacturers are doing this right? I-Pace is doing this, Taycan is doing this, Kona is doing this, etc.
3) Nice distortion of Musk's statements on the interview. He was very careful to repeatedly express the caveats that 3 years would be in an ideal scenario only.
Again, you keep using the word "investors" without clarifying what you mean. Tesla has investors holding all of their stock. And is not seeking further investment for fundraising. I think you're using vague terms while talking about privatization, but that's an entirely different story. Tesla has been quite clear that they're seeking a larger pool of investors to dilute the Saudi investment.
And while this is a bit of an aside, but as a retail investor, I'm very glad that Tesla saw fit to let all investors know about their privatization plans, rather than what many companies do which is only negotiate with their large retail investors behind the curtain, often leading to retail investors getting screwed over.
Keep telling yourself that.
And this is where a figurative LOL turns literal ;)
Right now, Tesla appears to be on track to beat, not simply meet, their Q3 projections (which were only for an average of 4k per week across the quarter). They have a very straightforward path to profitability ahead of them - production volumes are being sustained at far higher levels than in Q2, margins were already positive in Q2 without AWD and P, which are now 50% of the take, so even if you assume no process improvements whatsoever (which are the primary focus at present), that alone is going to generate sizeable margins.
But by all means - please short, short, short! Come on, how much interest will you pay on your credit cards or home mortgage versus how much you'd make when Tesla "goes bankrupt", right? Get those shorts in!
They've already made a 2-mile tunnel under Hawthorne.
Yes, we all know that the NYT ran a hit piece on Friday containing false information (including a claim that Tesla was looking for COO which Bloomberg has since debunked), and whose author made a snarky brag on Twitter about lowering Tesla's stock price.
And OMG, stop the presses, a few cars out of over 70000 turned out bad! Hint: the plural of "viral anecdote shared endlessly by short sellers who scour twitter and Tesla forums for any bad examples they can find" isn't "data". If it's data you're looking for...
1) Tesla is on a roll. Their production rates make everyone else look like they're missing a zero. They're well en route to being sustainably profitable starting this quarter.
2) I have no clue what you mean by "lack of investors". Obviously, all of Tesla's stock is owned. Actually in a way well more than "all of Tesla's stock", as people who've shorted the stock have put other people's borrowed stock back on the market, and people have bought *that* as well. If you mean "lack of interest in a capital round", Tesla has no interest whatsoever in another capital round; they plan to fund their expansion internally. If you mean for going private, however, they would like more to water down Saudi interests - although that means paying a premium over market prices.
3) SEC investigations are rarely fast, and can take years. By far the most likely result, if they find against Musk, would be a fine ranging from hundreds of thousands to tens of millions. Against him personally, not against Tesla (the SEC has generally taken on the view that it's not right to punish shareholders for an individual's actions that may have worked against them).