Didn’t Tesla already have issues with production anyways? Job cuts just seem like they’ll exacerbate the issue.
tesla was always a pump and dump. build it up quick, use it as financial vehicle, GTFO before it falls over.
they have never had an exit strategy or long-term plans for their products.
Yes, and it's common for job cuts to only make things worse for companies over the following quarters. It only makes things more backed up. It only helps your stock price for this quarter.
Whatever you might think about the Cybertruck, it is sold through for at least the next year. I think they're terrible--they look even dumber in person than in photos--but there are people who are lining up to buy one. Cutting staff does not sell Cybertrucks any faster.
A $25k Tesla EV would be a huge win, both in the US and (most importantly for the company's bottom line) China. There are reports of it being canceled, which may or may not be true, but it does appear that Elon wants to go all in on a self driving taxi, and I don't see that working. Even if it eventually does, it's a huge gamble when there's a very straightforward moneymaker sitting right there that doesn't require any particular R&D breakthroughs. Looks like Kia/Hyundai are happy to take that market if Tesla doesn't want it. Meanwhile, BYD is sitting over there figuring out how to enter US and EU markets. Telsa is stuck with a stupid polygon truck.
Whatever you might think about the Cybertruck, it is sold through for at least the next year.
Yeah, but that's not really saying anything considering that their production numbers have been awful. They claim that they should be able to reach 125k this year, but there have been reports of them only managing to produce around 80 a day, which is only around 30k a year.
And that was before the recent recalls and qc problems. Stainless steel is just an unforgiving material to work with, it's gonna take them a while to reach mass production while maintaining any kind of quality control measures.
Lower sales > Lower profits > cuts across the board (except c level) > lower quality > lower sales ... aka the death spiral.. hope they can halt the decline but their unique position as the only real electric car brand ended 5 years ago.. with their prices they compete with Audi, Mercedes, BMW, and the other premium brands.
Edit: my point was indeed that their competition has better quality so the competition does not really work.
Other than on price, Tesla is just not on par with premium German brands.
And the Chinese EVs beat everyone on price...
But Americans aren't allowed to buy them
If we had access to those, lots more Americans would be driving EVs.
In the company’s last earnings report in January, Chief Executive Elon Musk warned about the competitiveness of Chinese brands. BYD, China’s largest EV maker, surpassed Tesla in car sales last year.
"If there are not trade barriers established, they will pretty much demolish most other car companies in the world,” Musk said.
This year, Manhattan Beach-based Fisker Inc., an electrical vehicle startup, cut 15% of its workforce, had its stock delisted and said it might file for bankruptcy protection. Apple also recently announced an end to its long-held ambitions of making a self-driving EV.
https://www.latimes.com/world-nation/story/2024-04-19/china-ev-war-tariffs-tesla
We're not allowed to buy them because other companies can't compete, but even without being able to buy them, EV makers are going out of business.
The rich get protected while consumers and the environment gets fucked over
with their prices they compete with Audi, Mercedes, BMW, and the other premium brands.
'compete' hahahahahaha
Price of a mercedes, panel gaps of a lada.
be respectful to Ladas, they can survive a carwash
yeah, at least a couple of times
Tesla is a slow motion train wreck. Their answer to the china low cost cars was a Robo Taxi. They are completely out of touch with the ev market now.
Actually, they're speedrunning the Boeing approach.
"Announce new technological marvels while simultaneously slashing their workforce" is just two steps before "product falls apart during usage".
I mean, cybertrucks get bricked in a carwash, pretty sure that qualifies under usage and falling apart
Yeah but come on. They spent years making a "Delorean, but now its a truck!" that rusts in the rain, has barely 180miles of actual range, has a non standard pickup truck bed, cant tow worth shit, cost between 60k and 100k dollars, has such shoddy workmanship that the accelerator pedal can fail and jam on, and they managed to sell a stunning 3800 of them in 6 months.
Whose got time for a blockbuster, feverishly in demand 20k electric sedan when you have "a kool dude" like the above to work on for 3 or 4 or 6 years.
Weren’t people estimating a *2027 end for Tesla bc they haven’t been working on new models? They put their efforts into the meme "truck" instead of the roadster. They have been slashing prices yet demand for EVs, especially theirs has been dropping. All the while, their main spokesman has been a toxic deterrent. Meanwhile, these douchelords think The ceo should get a $56B payout?
The roadster was the only Tesla I liked, and it’s no coincidence that it was pre-Elon.
It's based on a lotus design, so yeah it's got some great parentage.
The original roadster is just a lotus Elise with a terrible DIY EV mod thrown in to it.
Weren’t people estimating a 2007 end for Tesla bc they haven’t been working on new models? They put their efforts into the meme “truck”
What? How is that supposed to make any kind of sense?
Who could see this coming when they decided to spend so much time and money developing an expensive steel box that rusts. Imagine if the CEO had any idea what they were doing and decided to focus on making actual cars
"If somebody doesn't believe Tesla is going to solve autonomy I think they should not be an investor," he said.
🥹
Ah yes, the autonomous cars that are limited to only cameras and not any other form of sensor like radar/lidar will be so successful!
ok. not gonna be an investor now. good advice 👍
(not that i planned to, but ok)
...
?. Profit
I couldn't imagine being a software engineer for Telsa, pouring your heart and soul into making a good product.
And in your bosses' drunken haze, gets to make an ass of himself on the world stage and get paid 1,000,000,000x your salary to do it.
Lose advertising investors, lose quality and face on the products you have to build. Still gets to be CEO of three failing companies
But your job is the one that gets canned to save the stock price.
Edit: loose
You're a little loose with those extra Os there.
Or in job terms, 466,667 jobs that pay $120,000 a year.
It's sad to say, but I'm glad we're at a point where shareholders now look at job cuts as a negative, and layoffs don't result in an increase in share price.
Amazon have been cutting jobs for their third year running now, on top of URA, and the only thing keeping our CEO in a job right now is happy shareholders.
You must be looking at a different chart.
God fucking damnit, I hate Wall Street.
We sold fewer cars than expected, lost money, revealed that even though we're making 1000 Cybertrucks a week we've only sold 4000 of them and had to recall every single one because we fucking glued the foot pad onto the accelerator pedal, and had our lying sack of shit CEO's compensation nerfed by a judge so in response we're gonna fire 6000 people.
Line go up.
Zoom out about a week.
Its fair to say that last week, TSLA was oversold and is now bouncing back from that. But the -55% profits and -$2.3ish Billion FCF are bad numbers.
TSLA is down from $180, where it was just a few weeks ago. $140 prices this past week apparently was too low, but there's no chance in hell that TSLA goes back up to pre-Q1 announcement numbers. Q1 2024 was awful. Declining sales around the world in all major areas: China, Europe, AND USA. They're weak everywhere.
I think the headline was supposed to say: "Nut job announced cuts."
Nut job cut jobs
A company who's unable to meet customer demands should not be this profitable. It should use it's revenue to invest back into growing the business to meet customer demand. This should be the real headline.
I wonder for how long they could pay those employee's salary for with that $56Bn paycheck Musk is trying to give himself.
And if it's tanking, Musk is responsible and shouldn't be paid any bonus because he failed them.
There's a lot in East Austin near the Giga factory with hundreds of Cybertrucks that don't seem to be moving...
Honestly though, the size of that building is obscene. It's hard to look at it and not think vanity is playing a serious role in top-level decision-making at Tesla.
Our Very Stable 4D Chess TwitterBoy Genius has become so fantastically effective in killing his brands.
First Twitter.com, then TwitterCars and the TwitterTrucks.
Will he kill SpaceTwitter too?
And what about TwitterDigger? Is this still a thing?
This is a most excellent place for technology news and articles.
