Got some bad news if you bought a Tesla Model Y last week...

[Xenomorph]

It just depreciated an extra $13K today:

Tesla turns up heat on rivals with global price cuts

The move marks a reversal from the automaker's strategy over the last two years when new vehicle orders exceeded supply.

www.reuters.com

 

[CochiseCowbell]

"Bet you don't like Bitcoin either and find joy on every single bad news story.
Imagine if everyone posted all the bad news stories from government backed currency.

It's like people that cheer when anything somewhat capitalist has issues. Imagine all the stories that could be linked to socialisms miss-steps."

**

 

[DesotoCountyDawg]

D

"Bet you don't like Bitcoin either and find joy on every single bad news story.
Imagine if everyone posted all the bad news stories from government backed currency.

It's like people that cheer when anything somewhat capitalist has issues. Imagine all the stories that could be linked to socialisms miss-steps."

**

Dammit you beat me to it.

 

[LordMcBuckethead]

It is true. Cherry picking stories on either side shows little on the topic and more on the individual.
Socialism - great ideas in limited use for specific "for the needs of everyone" type of issues
Capitalism - Great ideas, works for less and less people.
Communism - Great on small scales like a community, bad on large scales like countries.
EV Vehicles are great for some, do not work for everyone.
Internal Combustion Engines, great for some, not the best for everyone.

Our slice of life in rural Mississippi is not the same as the rest of the country.
Believe it or not, living in New York City Metro is different than Aberdeen.

 

[Ranchdawg]

It is true. Cherry picking stories on either side shows little on the topic and more on the individual.
Socialism - great ideas in limited use for specific "for the needs of everyone" type of issues
Capitalism - Great ideas, works for less and less people.
Communism - Great on small scales like a community, bad on large scales like countries.
EV Vehicles are great for some, do not work for everyone.
Internal Combustion Engines, great for some, not the best for everyone.

Our slice of life in rural Mississippi is not the same as the rest of the country.
Believe it or not, living in New York City Metro is different than Aberdeen.

If that happens on SPS nobody will post again.

 

[PooPopsBaldHead]

It just depreciated an extra $13K today:

Tesla turns up heat on rivals with global price cuts

The move marks a reversal from the automaker's strategy over the last two years when new vehicle orders exceeded supply.

www.reuters.com

I find it funny how many people are bitching about that situation. 5 years ago I couldn't fathom anyone buying a car in the middle of May and 2 weeks later asking for a refund when the manufacturer rolls out $5k worth of extra incentives for the Memorial Day sale.

From an investment standpoint, this was the entire argument Tesla bulls have been making for the past few years... It's a tech company, not an auto company. They don't compete with F and GM... Horseshit. This price cut is a direct response to increased competition in their space as demand weakens. Legacy auto companies will have years of production just to fill up dealer inventory. Tesla has to cut prices and sell everything as it's made or start throttling down production.

Tesla's growth and margin story has just been old yellered.

 

[LordMcBuckethead]

I find it funny how many people are bitching about that situation. 5 years ago I couldn't fathom anyone buying a car in the middle of May and 2 weeks later asking for a refund when the manufacturer rolls out $5k worth of extra incentives for the Memorial Day sale.

From an investment standpoint, this was the entire argument Tesla bulls have been making for the past few years... It's a tech company, not an auto company. They don't compete with F and GM... Horseshit. This price cut is a direct response to increased competition in their space as demand weakens. Legacy auto companies will have years of production just to fill up dealer inventory. Tesla has to cut prices and sell everything as it's made or start throttling down production.

Tesla's growth and margin story has just been old yellered.

I agree, for the most part. For a long time Tesla was considered a tech company you know why? Because the vast majority of their money making efforts was on battery systems and carbon offsetting. Over the years, as their production of vehicles got to where investors started seeing income generation started to reach the promised levels for making a profit. As the company transitioned, it has now aligned itself more with auto companies. Ford, GM, and Toyota will destroy Tesla's stranglehold on the EV market. Tesla had a huge head start, but F, GM, Toyota will quickly catch and pass them in market share regardless of their price drop or not. Tesla simply does not have the production capabilities to keep up with the big 3.

Now Tesla has other issues like leadership, but you can directly see the drop in their stock price with the emergence of each car manufacturer coming into the market. If the chip industry hadn't been decimated by COVID, Tesla may already be trading less than $50 per share, although their batteries and carbon offsetting side of the business is still pretty strong.

 

[LordMcBuckethead]

If that happens on SPS nobody will post again.

Look discussions are cool. I love a great discussion on something like EV or Crypto. But we all know the purpose of the Original Post. It wasn't discussion.

 

[onewoof]

The woke mob wants to believe they've caused Tesla to lose money. It's hilarious

 

[Ranchdawg]

Look discussions are cool. I love a great discussion on something like EV or Crypto. But we all know the purpose of the Original Post. It wasn't discussion.

Are you saying this because we have Tesla owners on here and he was intentionally trying to piss them off?

 

[turkish]

Am I supposed to like or hate Tesla because they make EVs or because they’re related to Elon Musk. I’m lost.

 

[patdog]

Am I supposed to like or hate Tesla because they make EVs or because they’re related to Elon Musk. I’m lost.

There's a lot of green-movement people who are seriously conflicted on this.

 

[dorndawg]

There's a lot of green-movement people who are seriously conflicted on this.

I've driven some serious beaters in my life but I'd be plumb embarrassed to own a Tesla