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When Tesla releases its first quarter earnings this afternoon, the company’s CEO Elon Musk will field the usual questions about new products, new factories, and progress toward its futuristic vision of self-driving cars and robot workers. But Musk will also face increasingly urgent questions about its current state of affairs — and why everything seems to be going to shit.
Earlier this month, the company reported its first year-over-year sales drop in four years, a sign of rougher waters ahead. Tesla’s stock has fallen more than 40 percent since the start of the year, including a 13 percent drop in the last week. The company laid off over 14,000 employees last week, 10 percent of its global workforce — which could end up being closer to 20 percent when all’s said and done, according to Bloomberg. Today’s earnings report is expected to include Tesla’s lowest profit margins in six years, a sign that rampant price-cutting continues to exact a toll.
I think people just realized that Tesla’s aren’t that great. They’re not build well, simple repairs cost a fortune and for the same price you get better vehicles from other manufacturers, especially from ones in China.
I love mine. Which BEV lets me have seamless phone key and instant bootup, letting me walk up and get into the car and drive away immediately? I also have my heat/cooling and heated seats on auto and love not having to fiddle with knobs. If another car maker can catch up to them I’d switch but I don’t see it happening soon.
My hood isn’t perfectly flush with the front on one half of the front though, and the FM radio reception is pretty bad, so I do have some complaints.
Every other EV I know has instant boot up, Volvo/polestar, Hyundai, rivian etc. I was under the impression this was pretty Universal for EVs. A huge amount of current model year cars in a similar price range also have remote keyless control functionality, even ICE cars.