I'm Shocked!

[legion]

Who could have predicted this? This really came out of left field.

Tesla reports $671 million Q3 loss, delays Model 3 production ramp up by three months | Fox News

Tesla reported a $671 million loss in the third quarter, its largest ever, as production issues slowed the roll out of its mass market Model 3 sedan.

The $3.70 loss per share was far greater than the $2.85 predicted by analysts, according to a FactSet poll.

Sales of Tesla's Model S sedan and Model X SUV rose 4.5 percent to 25,915. But investors' eyes were on the Model 3, the $35,000 car that's intended to move Tesla from a luxury niche automaker into the mainstream.

Tesla CEO Elon Musk had promised that the Model 3, which has more than 500,000 potential buyers on its waiting list, would be simpler to make than Tesla's previous vehicles and not plagued with the same delays. But Tesla produced just 220 Model 3s in the third quarter, far lower than the 1,500 Musk promised.

And the problems will continue. Because of delays at its battery facility in Nevada, Tesla said it now expects to be making 20,000 Model 3s per month by the end of the first quarter. Musk had initially set a target of December for that production.

Tesla's revenue rose 30 percent to $2.9 billion for the quarter, in line with analysts' expectations. Tesla said installations for its energy storage business more than doubled from a year ago.

Tesla's shares fell 3 percent to close at $321.08 Wednesday. They have risen 45 percent since the start of this year.

Tesla missed another over-optimistic target!?

[Nickshu]

The reality for Tesla is that many automakers are catching up with them or will be caught up with them very shortly (within the next generation of car models) with similar products that will offer a superior dealer and support network. I have respect for what Tesla/Musk have accomplished but the fat lady just may be about to sing.

[legion]

I'm no Musk fan. He's built an empire out of using government subsidies to produce relatively little while at the same time getting very wealthy. I'd have more respect for him if he hadn't involuntarily risked my money.

[GH85Carrera]

It will be very interesting to see what a company like Porsche comes up with for the all electric car coming soon. No big government subsidies, just normal R&D and to market.

I guess several manufacturers are about to introduce the upscale all electric vehicle to compete with the Tesla.

So next question, is Telsa going to be deemed "to big to fail" and get a mega bailout?

[legion]

Originally Posted by GH85Carrera

So next question, is Telsa going to be deemed "to big to fail" and get a mega bailout?

Maybe if there was a different result last November, but I highly doubt it now.

[berettafan]

Originally Posted by legion

I'm no Musk fan. He's built an empire out of using government subsidies to produce relatively little while at the same time getting very wealthy. I'd have more respect for him if he hadn't involuntarily risked my money.

x2 thanks for saving me the typing.

[widebody911]

When HP laid off my group last year, some of them landed at Tesla, née Solar City Tesla, SolarCity planning more than 200 layoffs in Roseville this fall | The Sacramento Bee

[legion]

Originally Posted by widebody911

When HP laid off my group last year, some of them landed at Tesla, née Solar City Tesla, SolarCity planning more than 200 layoffs in Roseville this fall | The Sacramento Bee

HP has been a mess ever since they acquired Compaq. It's my understanding that there are really two HPs now.

[Nickshu]

Originally Posted by GH85Carrera

It will be very interesting to see what a company like Porsche comes up with for the all electric car coming soon. No big government subsidies, just normal R&D and to market.

I guess several manufacturers are about to introduce the upscale all electric vehicle to compete with the Tesla.

So next question, is Telsa going to be deemed "to big to fail" and get a mega bailout?

Right now the Volvo SPA platform is the vision of the future that all "mainstream" automakers are scrambling to catch up with. By the next generation of cars (next 1-2 years) we'll see many platforms like this which allow "plug and play" integration of ICE, Hybrid, and Full electric in the same chassis platform. This is the stepping stone to full electric 2-3 years after that. It will start with BMW, Mercedes, Porsche, Japanese luxury brands, etc then shortly after it will be GM, Ford, Honda, Toyota, etc. Gonna be interesting for sure.

[berettafan]

i wonder if i will live long enough to chuckle at the 'holy cow we don't have enough generation capacity' articles that will pop up with greater frequency as this false utopia is realized.

or the 'George pressed the wrong button and now nobody in the city can get their cars to work' crises.

[legion]

I honestly think market saturation for electric cars is in the single digits of all cars produced. In other words, we've almost hit it. I don't see why companies are investing big money in such a small payoff.

[Porchdog]

My brother has spent much of his career at a major battery manufacturer (Not a Tesla supplier or partner as far as I know).

He claims that major battery developments never deliver on the promises - there is always a big step between what works in the lab and what can be done in mass production.

This was no surprise to him. He told me a while ago that if Elon's claims were practical, my brother's employer would already have them in production.

Everyone is working toward those great improvements in battery capacities and production efficiency - they always end up being incremental.

[Nickshu]

Originally Posted by Porchdog

My brother has spent much of his career at a major battery manufacturer (Not a Tesla supplier or partner as far as I know).

He claims that major battery developments never deliver on the promises - there is always a big step between what works in the lab and what can be done in mass production.

This was no surprise to him. He told me a while ago that if Elon's claims were practical, my brother's employer would already have them in production.

Everyone is working toward those great improvements in battery capacities and production efficiency - they always end up being incremental.

I have seen various "internet" talks (such as TED talks) saying the same thing. We are decades away from battery technology that meets expectations. For that reason the future is fully electric in urban areas, plug in hybrids in suburban areas, and hybrids in rural areas.

Whether or not those "hybrids" trend towards hydrogen fuel cell hybrids over time or remain small ICEs will be interesting to watch.

[RKDinOKC]

If UFOs are such advanced technology, why do they crash...Battery problems.

[Shaun @ Tru6]

Originally Posted by legion

I'm no Musk fan. He's built an empire out of using government subsidies to produce relatively little while at the same time getting very wealthy. I'd have more respect for him if he hadn't involuntarily risked my money.

Who risked your money?

It's intellectually lazy fake news to say Musk risked your money. He did no such thing. He and his C-level staff and board of directors on behalf of TSLA shareholders presented their case to our government who granted Tesla the subsidies. Government risked your money and no one else.

Outraged? Create your own social media campaign against everyone in government who approved these subsidies. Or just be a victim.

[legion]

Originally Posted by Shaun @ Tru6

Who risked your money?

It's intellectually lazy fake news to say Musk risked your money. He did no such thing. He and his C-level staff and board of directors on behalf of TSLA shareholders presented their case to our government who granted Tesla the subsidies. Government risked your money and no one else.

Outraged? Create your own social media campaign against everyone in government who approved these subsidies. Or just be a victim.

Well, we got rid of those in government who pushed for this. There are two guilty parties here, not one.

[berettafan]

Originally Posted by Shaun @ Tru6

Who risked your money?

It's intellectually lazy fake news to say Musk risked your money. He did no such thing. He and his C-level staff and board of directors on behalf of TSLA shareholders presented their case to our government who granted Tesla the subsidies. Government risked your money and no one else.

Outraged? Create your own social media campaign against everyone in government who approved these subsidies. Or just be a victim.

In the sense that there are many, many, many people lined up at the gov't pay counter through various gov't contracts which are famously overpriced I do not disagree with you.

In the sense that many here would happily take gov't money for a pop culture startup that is destined to fail I do not disagree with you.

But I still think musk is a crook and deserves my distrust.

[Shaun @ Tru6]

Originally Posted by legion

Well, we got rid of those in government who pushed for this. There are two guilty parties here, not one.

Fake news. It's clear you don't know what the subsidies are and who approved them.

[legion]

Does the Department of Energy have a new head? Does the DOT? The bureaucrats won't be handing out more public money (some of which is mine) without accountability anytime soon.

[Shaun @ Tru6]

Originally Posted by berettafan

In the sense that there are many, many, many people lined up at the gov't pay counter through various gov't contracts which are famously overpriced I do not disagree with you.

In the sense that many here would happily take gov't money for a pop culture startup that is destined to fail I do not disagree with you.

But I still think musk is a crook and deserves my distrust.

Are the CEO and C-suite and BoDs of Lockheed Martin crooks too? $500 Billion for the F35 that isn't done.