California "bailout" for Tesla

[wizbangdoodle]

Yup, sure sounds like Tesla is doing great...

http://www.businessinsider.com/tesla-stock-price-california-state-government-bailing-out-2017-7

Not sure how CA has the funds to give 40 grand in taxpayer money to Tesla Model S and Model X purchasers. According to Liberals, those are the exact people who should be paying more in taxes, not getting potential rebates totaling more than people make in an entire year on minimum wage.

Also, how do you have a sustainable business model when it requires the government to subsidize your product?

As to your last question, ask GM.

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[DHG1078]

I see GM as different. There is clearly a sustainable market where GM competes as other companies thrive in the same market. Poor management and risk mitigation in a bloated corporation with a strong union are to blame for the bailout.

Tesla flat out can't keep its doors open without a constant influx of taxpayer money.

 

[03Sssnake]

I see GM as different. There is clearly a sustainable market where GM competes as other companies thrive in the same market. Poor management and risk mitigation in a bloated corporation with a strong union are to blame for the bailout.

Tesla flat out can't keep its doors open without a constant influx of taxpayer money.

 

[RDJ]

If it wasn't for government subsidies Tessa automotive would have sunk a log time ago. And it is looking like they will miss at least some of their model 3 deliveries that were supposed to happen this month. Again

 

[svtfocus2cobra]

The success of every brand has to do with popularity fads to an extent but they also appeal to necessity which maintains sales numbers. With Tesla though, it seems they have been cornered simply as a fad, and with all fads they eventually get old and fade away. They styling and wow factor is already getting old, not to mention the price. They are trying to get prices down with models that will be more attainable, but the cars are freakin ugly! They already look like old designs so I don't see successful sales numbers or even a rush for demand for Teslas much longer. I would guess that is why Musk is pushing really hard for the Hyperloop and his Boring company as he is trying to stay relevant and not sink along with Tesla as it circles the drain.

 

[COOL COBRA]

All I can say is,
I like loud cars & dirty fossil fuel...

 

[DHG1078]

The success of every brand has to do with popularity fads to an extent but they also appeal to necessity which maintains sales numbers. With Tesla though, it seems they have been cornered simply as a fad, and with all fads they eventually get old and fade away. They styling and wow factor is already getting old, not to mention the price. They are trying to get prices down with models that will be more attainable, but the cars are freakin ugly! They already look like old designs so I don't see successful sales numbers or even a rush for demand for Teslas much longer. I would guess that is why Musk is pushing really hard for the Hyperloop and his Boring company as he is trying to stay relevant and not sink along with Tesla as it circles the drain.

I agree, the styling is getting dated. They have cool technology.

 

[03'Darin]

I talked to a Tesla owner a few weeks ago. I stopped to grab lunch and the little strip mall i was at had a Tesla charging center at the one end. Out of curiosity I stopped over to ask a guy charging his car some questions. i got a couple of interesting tidbits out of the conversation.

1. Guy told me that depending on which model you buy you receive free charging at the charging stations with a pin # that Tesla gives you. However Tesla owners commonly share the pin with owners that bought cars that didn't qualify for free charging and there is never an issue.

2. That this guys home state of NJ gave him a tax credit of I believe $22,000 or $22,500 for buying the car.

 

[DHG1078]

I talked to a Tesla owner a few weeks ago. I stopped to grab lunch and the little strip mall i was at had a Tesla charging center at the one end. Out of curiosity I stopped over to ask a guy charging his car some questions. i got a couple of interesting tidbits out of the conversation.

1. Guy told me that depending on which model you buy you receive free charging at the charging stations with a pin # that Tesla gives you. However Tesla owners commonly share the pin with owners that bought cars that didn't qualify for free charging and there is never an issue.

2. That this guys home state of NJ gave him a tax credit of I believe $22,000 or $22,500 for buying the car.

I believe January 1st of this year was the cutoff for free charging. Anyone who bought one before that gets free charging. Anyone after that has to pay.

 

[Famine]

I hope they do plummet in the next few years. That's when I will take all my money from now till then and put it into stock.

 

[04MysticCobra]

All I can say is,
I like loud cars & dirty fossil fuel...

Lol......since I am old like fossil fuel and have owned 55 combustion engine vehicles to date I don't see me ever driving any electric car. My next car will be another one of those dirty filthy fossil fuel sucking 660hp GT500's and I can't wait to get back into one again.....lol.

 

[KingBlack]

why dont you just leave California?

 

[510paesan]

Their plant is in the bay area is probably a big reason they are going through this.

Correct.

Which is why they built their new "green battery plant" outside of Sparks, NV. Less taxes / regulations.

Their current factory in Fremont used to be a GM plant. Then it was NUMMI...

Still waiting to hear what happened to that federal grant that Solyndra received - laughable.




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[wizbangdoodle]

My business is having a rough go of it. Where do I get my handout?

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[Troponin]

Interesting. Tesla is the only company in existence to make a profit on their electric cars. All other companies get subsidies for each of theirs sold. For instance, the Chevy Volt costs in the neighborhood to buy, but the cost to build it is about $60,000. Tesla is able to make a profit because they are in the high end car market and they make their profits from the insanely expensive options.

Looks like that wasn't even enough.

 

[HillbillyHotRod]

I talked to a Tesla owner a few weeks ago. I stopped to grab lunch and the little strip mall i was at had a Tesla charging center at the one end. Out of curiosity I stopped over to ask a guy charging his car some questions. i got a couple of interesting tidbits out of the conversation.

Dix

1. Guy told me that depending on which model you buy you receive free charging at the charging stations with a pin # that Tesla gives you.

Did he have a BernieHowever Tesla owners commonly share the pin with owners that bought cars that didn't qualify for free charging and there is never an issue.

2. That this guys home state of NJ gave him a tax credit of I believe $22,000 or $22,500 for buying the car.

Did he have a Bernie bumper sticker?

 

[DHG1078]

Interesting. Tesla is the only company in existence to make a profit on their electric cars. All other companies get subsidies for each of theirs sold. For instance, the Chevy Volt costs in the neighborhood to buy, but the cost to build it is about $60,000. Tesla is able to make a profit because they are in the high end car market and they make their profits from the insanely expensive options.

Looks like that wasn't even enough.

Tesla makes money selling carbon credits

 

[MFE]

Tesla makes almost all of its money selling carbon credits

FTFY

 

[svtfocus2cobra]

Interesting. Tesla is the only company in existence to make a profit on their electric cars. All other companies get subsidies for each of theirs sold. For instance, the Chevy Volt costs in the neighborhood to buy, but the cost to build it is about $60,000. Tesla is able to make a profit because they are in the high end car market and they make their profits from the insanely expensive options.

Looks like that wasn't even enough.

I may be mistaken but I thought that they haven't even turned a profit yet which is making the investors very wary at this point.

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[RDJ]

Interesting. Tesla is the only company in existence to make a profit on their electric cars. All other companies get subsidies for each of theirs sold. For instance, the Chevy Volt costs in the neighborhood to buy, but the cost to build it is about $60,000. Tesla is able to make a profit because they are in the high end car market and they make their profits from the insanely expensive options.

Uhhh no. They have had ONE profitable quarter in their entire history. They bleed money. Their stock is horribly over priced. They are an independently owed tech or housing bubble. They are surviving on the backs of the American taxpayers most of whom cant afford the cars. The model 3 is supposed to be delivered starting July 28th but that, IF it happens will be a drop in the bucket. They have a 400k car backlog and a lot of those buyers were counting on a government handout to get them. Some of them will likely cancel.

http://www.latimes.com/business/la-fi-hy-musk-subsidies-20150531-story.html
http://www.zerohedge.com/news/2017-...hout-government-subsidies-tesla-sales-implode

I may be mistaken but I thought that they haven't even turned a profit yet which is making the investors very wary at this point.

they turned a 22 million dollar profit Q4 2016. Probably a product of fancy bookkeeping