Click here to close
New Message Alert
Elon Musk. And his stupid little cars,





Elon Musk. And his stupid little cars,   

  Click Here to have an E-mail Sent to you when a new message is added to this thread
Author: BigT   Date: 6/4/2021 9:30:14 AM  +10/-2   Show Orig. Msg (this window) Or  In New Window

This "company" would not be a company without government sponsorship.  They lose money on every car sold.  Due to pie-in-the-sky goofy regulations, real car companies have to pay Musk a fee for every car they sell.  What a shakedown!

So-called "public/private partnerships" are what characterized natzi Germany....

"until recently, Tesla which sold 500,000 vehicles last year had a larger market cap than the entire incumbent global auto industry, which sold about 65 million units. Yet Tesla has never made a dime manufacturing and selling its electric vehicles.

For instance, it recently reported first quarter 2021 net income of $438 million on 185,000 cars delivered. But that profit was based on $518 million of regulatory credit sales and a $101 million positive gain from its Bitcoin position and sales. Strip these out and……Tesla lost $181 million selling cars.

Stated differently, during the past quarter alone Tesla lost just under $1,000 per car sold!

For want of doubt, here is what Tesla has been padding its financials with: Namely, regulatory credits that are sold to, well, GM, Ford, Fiat Chrysler and the rest of Tesla’s regular-way auto competitors, who must pay tribute to the loud-mouth from Silicon Valley in order to comply with clean energy standards.

When you subtract the above government manufactured and soon to disappear “income”, here is what Tesla actually generated on the bottom line. Rather than its ballyhooed 7 consecutive quarters of positive net income, it has actually produced 10 straight quarters of red ink."

 
Reply    Return-To-Index     Display Full Msg Thread   Rules of Engagement   Terms of Use