Tesla to cut thousands of jobs as Elon Musk warns the ‘road ahead is very difficult’

petros

The Central Scrutinizer
Nov 21, 2008
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Sorry bub. You remember the fact laden article posted stating that scientitians say that 8 years of CO2 goes into a lithium EV battery but only lasts 5 years don't you? That makes an ICE 30% more efficient. Bummer.
 

taxslave

Hall of Fame Member
Nov 25, 2008
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Sorry bub. You remember the fact laden article posted stating that scientitians say that 8 years of CO2 goes into a lithium EV battery but only lasts 5 years don't you? That makes an ICE 30% more efficient. Bummer.

Without even mentioning the cost of recycling the dead ones. Or their lack of range. Or the requirement for huge amounts of taxpayers money to get them to market and keep them charged.
 

Twin_Moose

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Apr 17, 2017
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The time cannot be more ripe for you Hoid

Tesla slices prices on Models S and X as stock plunges

Tesla is lowering the price of its two most expensive models by $2,000 to $3,000, not including tax credits.The company's stock is at its lowest point since late 2016, after several Wall Street analysts questioned its growth prospects and cited slowing customer demand for its cars.Tesla lost $700 million in the first quarter, but CEO Elon Musk vows a return to profitability by the third quarter.
Tesla has sliced the price of its two most expensive models after several Wall Street analysts questioned the demand for its cars. The company on Monday cut $3,000 from the price of the Model S sedan and $2,000 from the Model X SUV.
The Model S now starts at $71,250 while the X starts at $71,950. The prices don't include federal and state tax credits for electric-vehicle purchases.
Tesla wouldn't say if slowing sales influenced its decision, but it said it periodically adjusts prices and available options, according to the Associated Press. Tesla said the decreases offset price increases from a month ago when it offered longer battery range and added a new drive system and suspension.
The moves come as Tesla's stock is under pressure, at times dropping below $200 per share this week. Several analysts have questioned whether the company can sell enough cars to cover its expenses without dipping into its shrinking cash reserves.
Shares traded Tuesday afternoon at $205.62, up slightly from Monday's closing price. They are down more than 38 percent so far this year, cutting the company's market value more than $20 billion to $36.5 billion. On Monday the shares hit their lowest point since late 2016.
Tesla said in a statement that the reductions are about 2% to 3% on the prices of the S and X. The company last week raised the price of its top-selling Model 3 by $400, pushing the base price to $35,400. "By any reasonable standard, these small changes are not newsworthy," the company said in a statement.
Wedbush analyst Daniel Ives wrote on Monday that he was concerned about Tesla's growth prospects and the demand for the Model 3 during the coming quarters. He called Tesla a "code red" situation. "We have continued concerns around Tesla's ability to balance this 'perfect storm' of softer demand and profitability concerns, which will weigh on shares until Musk & Co. prove otherwise in terms of delivering solid results over the coming quarters," Ives wrote, referring to CEO Elon Musk.
After two profitable quarters, Tesla said last month it lost $702 million in the first quarter of 2019, one of its worst performances in two years. Sales tumbled 31% in the period. Musk predicted another loss in the second quarter but said Tesla would be profitable again by the third quarter.
The carmaker recently closed a $2.7 billion funding round, giving it enough cash to survive another 10 months, Reuters reported. Musk now is on a cost-cutting mission, with plans to review "literally every payment that leaves our bank account," according to Reuters.
In January, the automaker cut its prices by $2,000 per vehicle, acknowledging that the pending expiration of a $7,500 federal tax credit for its electric cars will hurt sales. The credit is gradually being phased out for Tesla by the end of the year.

$6-7000 knocked off the purchase price with price slashing and rebates tell us how you made out on the deal Hoid.
 

Twin_Moose

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Apr 17, 2017
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Tesla has become a proxy for climate change to the deniers.

Tesla is not as popular as you thought, when are you going to scrap the beater and show us all how great Teasla is?

Probably doesn't have the garage needed and probably can't afford to run 100A service to it if he had one.

Enough hot air comes out of him to power a 100 amp windmill ;)
 

Danbones

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Sep 23, 2015
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If man kind wanted to save the planet we would be using Hydrogen peroxide.
;)
All the rest of this debate about electric is just to deflect everyone from what is affordable and doable today. Which we are not doing now because anyone could do this easily (it's old technology). So just like with Edison Westinghouse and Tesla, the EVIL profit makers ( Like All Gore and hitlery Clinton) slaughter the sensible people who just want to tell the truth and share for a better world.

LOL, everyone knows the climate is changing...it has been for 4 and one half billions of years. It's the dimwits that say man is responsible so he must take the tyrannical TAX wiener in the pooch for the banker tyrants who pay people like flossie to barf up constant fakenews like ant stroked aphids while they lose money hand over fist at everyone else's expense due to their intense inbred stupidity.
 
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Twin_Moose

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Apr 17, 2017
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If Tesla fails then climate change must be fake news.

It means the cult of Climatology is not as strong of a money making industry that was hoped it would be, changing the weather thus changing the climate is impossible Hoid it is more of a money making scheme like a carbon tax. I'm all for cleaning up our environment and be more responsible, changing the weather/climate not so much.