Tesla’s value plunged nearly $200 billion since mid-July – and the EV maker faces a bumpy road ahead::Tesla shares closed Tuesday at just over $233, well down on their 2023 peak of $291.
Such a remarkably overvalued company. I’d be surprised if it’s still around in a few decades. Feels like they’re the MySpace of today - they’re big and have first mover advantage but have nothing interesting down the line and newer companies will and are supplanting it.
Tesla surely benefited from being the first to market with a mass scale luxury EV. But they still have SERIOUS quality control issues. And putting all the controls in a touchscreen is a gimmick that has worn off. The major players were slow to catch up, but when they do get products to market, they are more reliable and easier to use.
Tesla is not improving on core issues fast enough, and it is going to cost them in the not-so-distant future. I think we are seeing it already with Hyundai. They are the new EV darling. And I do blame it on Elon Musk. Dude is spread way too thin, and has become way too dysfunctional and delusional to successfully lead any company.
If anything, Musk spreading himself thin helps the corporations… He’s literally banned from personally tweeting about SpaceX. They have to be approved first. The less he talks about Tesla, or does anything else to it, the better for Tesla.
I think you mean Musk’s dysfunctions and delusions have become too public to successfully “lead” any company.
I don’t disagree with those statements but I’d wait to see what they put out from the Mexican factory considering the labor cost advantage and manufacturing experience they’ve gained. Beyond that I agree that Korean and Chinese EVs seem more put together and well see if we get more when the us subsidies end.
Nothing interesting? They’ve got the Cybertruck!
Not good. But interesting.
I’m sure they’ll be around, but I don’t get how their market cap was more than every other car company combined.
Did people think they made something other than cars, because even if they were the only car company making sales they still wouldn’t be worth that price.
Elon’s business model was not to be in the car business long term but the your-car-is-also-a-taxi business and reaping the profits of not just selling cars but ride-sharing too. Triple dipping if you count the supercharger stations, basically collecting a fee every time you use your car. I can see the bull run when things are framed from the perspective of magical Christmasland, but there’s a slightly larger than zero but still basically zero percent chance that FSD on Teslas will ever work autonomously and their cars are getting smoked domestically because they have competition now where they didn’t before.
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They’re building a new plant in Mexico.
That’s what will really take the comparative stock price of actual automakers into the stratosphere with Tesla you guys, a fucking factory in Mexico. How could Ford or Hyundai match having a factory in Mexico?!
Lol, the last Ford I bought (shit car btw) was built in Mexico. Tell me again why Tesla has 20x the market cap of Ford because it surely ain’t factories in Mexico.
Setting aside anything related to Musk, Tesla really doesn’t seem to be staying competitive.
Cybertruck (and the “indestructible” window press conference) is probably the easiest example. Years of attempted hype that haven’t paid off in a meaningful manner, while rivals have been releasing in-class competition. Anyone can see that’s a problem.
Tesla cars used to be pretty revolutionary, now they’re in an entirely different era that’s filling with exciting EV alternatives around every corner. Yet Tesla style still looks the same. The shoddy construction is still around and becoming more widespread knowledge. They’re failing to attract their target audience due to a long series of missteps. More problems.
Not to mention that Tesla was downright overpriced at its height. It’s a fraction of the volume yet made other automaker valuations look minuscule. The logic for that was never there.
Besides Musk…it’s the fact they are still using the same design from 10+ years ago. When I see a tesla, I can’t tell the difference between the S & 3 or the X & Y. They made one car and scaled it in their software. All 4 cars are due for a redesign and they don’t need to all look identical. And they need to figure out how to actually assemble them without being shit.
While I agree Cybertruck may have jumped the shark, I recently noticed …. After years of GM saying cylindrical batteries are not practical and pouch batteries are the only way to go, and Ultium is more advanced than anything Tesla has …. They’re redesigning EV models early to switch to cylindrical batteries like Tesla
The only reason GM (and others) tried to tout pouch cells is because there was a complete lack of cylindrical production capacity available. Tesla was using it all.
What are you going to do, say we’d rather use these other batteries but we can’t, so here you go?
I am ecstatic that most of the major manufactures have finally decided to transition to prismatic and/or cylindrical.
I wouldn’t even be surprised if regulations one day prevent use of pouch cells for automotive purposes.
Give it 5 - 10 years. Tesla will be a company that makes and maintains a charging station network and sells batteries to the other auto makers.
It’s becoming increasingly obvious that they can’t hack it in an automotive sales industry. Which is fine, frankly. I think battery manufacturing and charging network are pretty complimentary industries and provide a decent revenue stream into the future, License the charging tech to other automakers early and get some vendor lock-in going, and the company could be in it for the long haul.
They might even be able to keep making a couple EVs, to prove new charging or battery tech, much like how Google keeps making Pixel phones to essentially prove and market new Android features.
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They have a massive head start, but that will not last.
BYD is not far behind them and VW is closing fast. 2022 EV volumes
Who else has hands free driving on local roads?
Mercedes for example - and it works better than Tesla’s on shitty roads.
Mercedes for example has two cars that just launched FSD this year. Vs Tesla who has 4 cars that can do autopilot for 3 years or more. Again I’m not trying to say Tesla is the best car, I’m trying to say they have differntiated features that few, if not any companies have had over the years, and yea that does not excuse their CEO from being a total douche.
Mercedes for example has two cars that just launched FSD this year on local roads. Vs Tesla who has 4 cars that can do autopilot for 3 years or more on local roads. Again I’m not trying to say Tesla is the best car, I’m trying to say they have differntiated features that few, if not any companies have had over the years, and yea that does not excuse their CEO from being a total douche.
Exactly. So many of the naysayers haven’t used fsd first hand, so they don’t know how close they are to solving a huge problem. And no one else is really even trying anymore. Ask a graduating senior in IT or robotics where they dream of working and it’s Tesla.
If you’re using FSD without your hands, you’re not doing what you’re explicitly supposed to be doing.
So basically you’re saying that so many of the naysayers haven’t used FSD the wrong (and dangerous) way.
I’m using drive assist without my feet, I can keep my pinky on the wheel and give it the slightest pressure every few minutes when prompted. This is a God send in stop and go city traffic. I used to have super high stress in traffic every day, now I let the Tesla do all the stop and go braking/keeping distance/keeping center and it’s way less stressful. I know other manufacturers have drive assist but I’ve driven my siblings BMWs Mercedes Maseratis Jaguars Land Rovers and (unless you’ve got a 2024 Mercedes) none of them are as easy to use as Tesla.
I fucking hate Elon musk by the way, and I’m not a Tesla fanboy, they do a lot of anti consumer bullshit I dislike. I just think to over correct and say the cars have nothing better to offer vs competitors is disingenuous
Again, that’s not how you’re supposed to use it.
Again, that still differentiates this company vs any other car. The entire argument we’re having is that they don’t do anything different than anyone else.
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Oh you can bet he is gonna get ur tax dollars .
Jeez I can understand not liking a billionaire and their product, but are you okay?
I saw no false statements here.
Why do you ask that? Whenever Musk gets mentioned (or any billionaire for that matter) similar words immediately spring to mind. Most people I know also feel this way too. Are YOU ok for not feeling this way?
I guess I’m just out of the loop. The most I know about musk is his ridiculous Twitter changes, naming his child aex12 or some crap like that, and shady EV range stuff. Can definitely see why people are saying he’s scum, but why is he being called a Nazi?
His indifference to the apartheid ontop of bragging about the family’s emerald mine (which hints at his emotional detachment from issues like genocide), reopening a Tesla factory in violation of health orders directly attributed to 450 covid cases, and his penchant for terminating people over opinions. Between the way he almost advocates for business priorities over basic human rights and his blatant fascism, some of his behaviors align with the hubris and fanaticism the Nazi party was known for. Cracking down on dissent, attempting to direct the flow of information, it’s almost as if we see how a modern Joseph Goebbels acts if he inherited the wealth of an apartheid emerald mine and pushed his own radical agendas with no regard for human life.
While Elon may not be as extreme as some of the worst people of the Nazi party, as in he didn’t throw millions of people in gas chambers, he seems to behave in a way that indicates he would do so without flinching or questioning it, if it continued to make a shit ton of money.
I usually think a lot of comments on here are over the top, but this one wasn’t that bad. Big companies get subsidies way too often.
I’m sad. Hug me?
Spotted the bootlicker
It was never worth the stupid value it was pumped up to. Why do you think Elon has been dumping so much of it.
Elon Musk financed about $20bn into the Twitter purchase by selling Tesla stock.
despite the 200b drop in tesla, those 20bn probably still would be worth more than the Twitter stocks he owns now.
Twitter is a money pit circling the drain.
The moment those Chinese EV startups enter the US market, Tesla will be in real trouble if they don’t have their product quality image problem fixed by then.
It’ll be like Detroit’s Big 3 automakers tanking when small fuel efficient Japanese cars landed in the 70s oil crisis.
Assuming those Chinese EV companies don’t have their own quality problems…
Chinese EVs absolutely have quality problems, but they are half the price. Tesla’s are sold at luxury prices with third rate QA.
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There’s already so many BYDs in Australia.
At $20,000 cheaper, it sure makes a lot of people not care about whatever bells and whistles the Tesla has.
Tesla is already in trouble.
Hyundai Ioniq 5/6, Kia Ev6.
VW ID line.
Ford F150 Lightning.
Those are the things that will absolutely decimate Tesla’s market share. Known brands that can actually put together cars without basic issues like Panel gaps and paint issues.
Ones that reject the absolutely dangerous and moronic UX of putting everything onto a big screen instead of having physical buttons.
They’re already in the states. Example: Volvo / Polestar
Big difference there. Volvo may be owned by a Chinese company but they’re made in the US and Europe (except the S90) and are designed by Swedish engineers. That’s like called Jaguars and Land Rovers Indian since they’re owned by Tata.
The cars that GP are referring to are entirely designed and built in China.
china sucks worse then Tesla. Everything they build is cheap crap that falls apart. Last thing I’d ever do is buy some pos from china
thoughts and prayers
maybe they should focus on making a decent product instead of manufacturing bs
Well Musk is spending most of his time breaking Xitter lately so maybe the Tesla guys can get some good stuff done while he’s distracted.
They went to the stock chart, picked the latest peak, and wrote the article of doom. It’s down 20% a year ago, but up 20% for the last 6 months, and up 119% YTD.
Not that Tesla doesn’t have its ills or seems to be stagnating, but picking points in a chart is a feeble argument.
That 119% is based on the lower peak you cherry picked, you just did exactly what you complained the article did.
Who would have thought your brand would tank if you go full send on being a absolute douche bag. Almost like there is consequences for you actions… Something these ultra rich assholes never face.
I dont get how this is news. Teslas market cap was already higher than all the other car makers combined while only producing a fraction of the vehicles. Everyone knew that this stock wasnt a value stock. Where is the news
ELON BAD
Yes, but not sarcastically.
Agreed.
Teslas are boring. There are only 4 of them and they all look the same. (And the cybertruck is an abomination, sorry if you’re going to buy one; good luck surviving all the steel balls people will be throwing at you)
What a stupid take, but par for the r/technology course.
EDIT: The steel ball thing was terrible optics, granted, but that was also, like, the 5th time that ball was thrown at the window. Bullet-proof glass still spiderwebs when hit. Get over it.
No, they dropped steel balls onto separate glass pulled to the side, which didn’t break, then they decided to hurl steel balls at the prototype they had on stage. It broke the glass, twice. It’s on video, y’know?
but par doe the r/technology course.
Do you even know where you are?
Yep, r/tech… er… c/technology. Same thing.
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Don’t worry Tesla owners, this guy’s better than you and all along knew that he should be buying hummers.
This smugness from basement dwellers is flat out embarassing.
Swing and a miss, sparky. I’ve been driving electric for the last 7 years but have no interest in Tesla for a wide variety of reasons.
Also I literally told you why I don’t like them — there are only 4 of them and they all look the same; do you think maybe the fact that they’ve become so ubiquitous over the last few years and so samey could contribute to changed perceptions of them? What’s new in 2017 is old in 2023.
Just try and be a better person/contributor around here. Smarten up.
Do you see yourself in this video, or do you lack that level of introspection?
there are only 4 of them and they all look the same
Oh noooooo. Thanks for that single issue that’s entirely subjective.
Meanwhile; they provide the best performance for the price, putting exotics 0-60 to shame. Have the best charging infrastructure. Get great range despite the recent hit pieces. And, for some subjective IMO goodness, are super fucking cool. I love the infotainmentcontrolwhatever way they handle things.
But no, they’re just copy/paste pieces of shit. All hail anybody but Elon!
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the amount of defects
Please list them, and don’t bother with panel gaps that are either fixed for free on the spot or not long after.
When you pay $45k and up on a product, it should not have a single defect.
Somebody better tell this to Rivian and Polstar or, shit, any. other. manufacturer.
nowhere near the listed range in their advertisements. so bad they are facing a lawsuit over it
Get back to me when that lawsuit is resolved. I will say, I’m supposed to get 333 miles from my Model 3 LR and it’s closer to 280. There is reserve battery past 0% but we shouldn’t count that.
They also have issues locking drivers in the vehicle when the battery dies
Yes we all saw the article posted here a couple days ago. Curious, did you see the posts about how there are manual releases easily found and if you can’t find them you’re kiiiiiiiind of an idiot?
They’re cool the first time you drive one sure
Sorry, still cool 2 years later
have caused several life ending accidents involving their self driving software
Another sign you’ve bought into the bullshit. Manual controls override all AP/FSD activity and the drivers were at fault of every single crash. Find me a single instance where the driver was found to interrupt the system and it ignored them.
So keep on sucking his dick
You’re just admitting that you’re doing the polar opposite of sucking Elon’s dick. You’ve proved you’ve bought every single hit piece that came out. Congrats. I’m going to continue enjoying my marvel of engineering.
People really don’t even understand the whole range thing.
All those multitude of real world tests out there that show a Tesla doesn’t get the advertised range aren’t doing the tests as the EPA tests are defined.
Yes, a Tesla doesn’t get the advertised range when you go out of the test specs, shocking.
The EPA says this is how we’re going to test the car. They even say, you can test it doing a partial test suite, or a full test suite. Tesla does the full test suite, while many others don’t. This costs Tesla more money, but does seems to work out to their advantage.
I don’t doubt that Tesla then went, okay lets design the car (set the gear) to get a good range on the test the EPA is going to use so we can advertise a good number. The EPA set the rules.
I can’t recall if it was the EPA or some other testing agency, but Tesla once even rejected their initial rating saying you did the test wrong and made them re-do the test (a door was left ajar or something), and the retest came out to the number Tesla was expecting and wanted to advertise. As per the other article something also went wrong once and the EPA made them lower it by 3%. So problems can go both ways, and both were fixed.
Aside from Porsche who have a multi gear system in their power train, everyone else has to deal with the problem of a single gear not having the same efficiency across all speeds.
There’s only a few other models out there besides Porsche (who’s different) that meet their claims at 70mph+ tests, which means they did one of two things. They either lowered their EPA approved number and advertise a smaller range than they are
capableallowed, or they’re going to be less efficient elsewhere, but do good at high speeds.If you want to perform better at high speeds (70mph+) , you’re going to perform worse somewhere else in a single gear system, but I imagine most people care about the high speeds, and people don’t seem to care about real world 25-35mph tests where cars go well past their advertised range. I don’t really blame them for this, it’s what people care about.
We really need to get the EPA to change their tests and make everyone do the same test, make the test better reflect real world driving scenarios, and probably make them advertise city/highway/high speed eMPG instead of just the single number.
They’re fine cars, they need a refresh is all. You’re reading way too much into this. They’re not copy-paste, they’re ubiquitous and as exciting as a Honda Civic in terms of looks, to me at least. 0-60 time is fun, but so are physical buttons.
All hail anybody but Elon!
You know he’s never going to marry you though, right?
You know he’s never going to marry you though, right?
What? I thought you said this WASN’T r/technology?
The only person bringing up Elon Musk is you. The only person offended (apparently) on behalf of Elon Musk is you. Sort yourself out.
I couldn’t give a fuck about Musk. He could die tomorrow and I’d say “Good for him.” What I think is hilarious is the assumption by you and others in these comments that my drive to correct them stems from some love of the ugy.
Sort yourself out.
Maybe the investors should all vote on kicking Elon out of the company.
200 b-b-b-b-billion…!
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