Is Tesla Done For?

[ToraToraTora]

https://www.msn.com/en-gb/money/companies/tesla-is-headed-for-the-graveyard-predicts-former-gm-exec-bob-lutz/ar-BBNx6Kl?li=BBoPWjQ&ocid=mailsignout
Musk has no idea how to run a car company and his latest antics don't help either.

[jim360]

He was doing pretty well, until recently. I wonder what in heck changed.

I can't say I'm heavily invested in the story -- whether Tesla goes under or not affects me personally not a jot -- but it's been a remarkable, and rather spectacular, fall from grace.

[ToraToraTora]

well Lutz says they are not making enough cars and they are far too expensive for most car buyers. There is big competition from Audi coming online too and BMW are piling in.

[kvalidir]

..and Musk's giant ego is a massive turn off for the people who can afford it. He's no longer ( if he ever was) cool and that'll hit him more than anything because these people have the money to be associated with someone and something which enhances their street cred, not some shambling egotist that reflects on their choices. And they will.

[douglas9401]

It'll be a shame, they're nice cars but hey, that's showbiz.

[Hopkirk]

I've decided I'm not buying one.

[Gromit]

Is that the same General Motors that took a $50Billion bailout from the US Taxpayer to survive.
I doubt Musk, even if he fails spectacularly, will rip off the State for such an astronomical sum.

[Gromit]

General Motor’s Bob Lutz certainly knows what he is talking about when it comes to car companies tanking.

// The U.S. government spent $49.5 billion to bail out GM, and after the company’s bankruptcy in 2009, the government’s investment was converted to a 61 percent equity stake in the company. //

The US Government gradually sold its stock at a $12Billion loss to the taxpayer.

[ToraToraTora]

yes, bang on kval, BA, gawd that's 2 this week!

[aelmpvw]

some of musk's ill thought out comments remind me of the gerald ratner debacle some years ago

[Zacs-Master]

I think Musk is the sort of guy who’s interest in things wains when things don’t go his way. He is a businessman but in a sort of ‘enfant terrible’ way.

I’m sure his $20 billion will cushion his blow.

[youngmafbog]

Just what have GM's mega losses got to do with this, unless you are trying to distract from the OP?

This is really not surprising, in fact it was enevitable. He started something that was appealing to the few, especially rich ulra liberals who could virtue signal their greenness via the car. However it is becoming mainstream now an the proletariat are becoming able to buy such vehicles so why would anyone want to buy a car like this now? He is not a car manufacturer and can never complete with the big boys and the car is not niche enough now.

Of course his rants would not have helped either, it often looks like he is loosing the plot, not good for someone left in his position.

[youngmafbog]

"I’m sure his $20 billion will cushion his blow."

I think you have missed what Musk is about. This will hit him hard (even if little effect to the wallet)

[Zacs-Master]

Nope. I haven’t missed what Musk is about. In fact I described what he’s about. If you have a different opinion I’d be pleased to see you express it.