Uh-oh Tesla
- Thread starter VenomousDSG
- Start date
This is one of the areas where Elon is just plain wrong.
"Thanks for the free taxpayer money, my billionaire self and the 1%er clients that buy my $90k cars are very appreciative, but you need to beef up the program to ensure a more consistent ZEV credit value"
https://insideevs.com/news/329632/elon-musk-californias-zev-credit-mandate-is-incredibly-weak/
"Thanks for the free taxpayer money, my billionaire self and the 1%er clients that buy my $90k cars are very appreciative, but you need to beef up the program to ensure a more consistent ZEV credit value"
https://insideevs.com/news/329632/elon-musk-californias-zev-credit-mandate-is-incredibly-weak/
[elon]HERE LOOK AT HOW AWESOME THESE NUMBERS ARE!
wow, those don't suck, howd you get to them?
[elon]WHO CARES, LOOK, THEY'RE AWESOME!
yeah, we got it, but like, where's those tax credits we talked about?
[elon]THOSE LITTLE GUYS? DON'T WORRY ABOUT THOSE LITTLE GUYS.
okay well, alright, i guess.
....few days later... OH HEY OUR NUMBERS WERE GOOD BECAUSE UM THOSE CREDITS WE GOT AND THAT'S IT SO HA. WE'RE GOOD.
wow, those don't suck, howd you get to them?
[elon]WHO CARES, LOOK, THEY'RE AWESOME!
yeah, we got it, but like, where's those tax credits we talked about?
[elon]THOSE LITTLE GUYS? DON'T WORRY ABOUT THOSE LITTLE GUYS.
okay well, alright, i guess.
....few days later... OH HEY OUR NUMBERS WERE GOOD BECAUSE UM THOSE CREDITS WE GOT AND THAT'S IT SO HA. WE'RE GOOD.
Right to the bottom line corporate newbies.
https://www.theverge.com/2019/4/8/1...rysler-credits-european-union-emissions-fines
https://www.theverge.com/2019/4/8/1...rysler-credits-european-union-emissions-fines
Yes, we get that. Because if you did, the stock market would implode. That's why there are analysts that fret through things to find the reality. But yea, elon isn't going to tell every trivial detail.
Take it easy wolf of wall street, i literally said the main concern is that tesla semi-secretly sold $200mil in credits and still reported a huge net loss
I was actually curious about what % of their revenue comes from credit sales, I'm going to look at this when I have time. I'll have to dig through the 10-k i'm sure
Found it in the 10k. $418 mil in revenue on regulatory credits vs $20.07 billion in total revenue from sales & services.
BUT being that the regulatory credit sales don't have any COGS that apply (i think), it's probably more important to note that they posted a net loss of $1.06 billion with "free" revenue of $418 million. Seems bad to me, but what do I know
They don't break out any detail on the regulatory credits in the cash flow or income statement, but revenue details are on page 87
https://tesla.gcs-web.com/node/19496/html
BUT being that the regulatory credit sales don't have any COGS that apply (i think), it's probably more important to note that they posted a net loss of $1.06 billion with "free" revenue of $418 million. Seems bad to me, but what do I know
They don't break out any detail on the regulatory credits in the cash flow or income statement, but revenue details are on page 87
https://tesla.gcs-web.com/node/19496/html
I'd really like for a tesla fan to come in and defend this. These credits honestly shouldn't exist, they're a form of corporate welfare, and this is proof that Elon has yet to make electricity financially viable. I wonder if the company would have survived if the credits didn't exist...methinks they wouldn't have.
Interesting that Musk did report the $15 million in ZEV credit sales on the call, but not the $200mil in non-zev credit sales. That's definitely misleading.
[MENTION=396]Mike K[/MENTION] your thoughts?
i have bitched about this for a while, as it would be hard to find a subsidy that has gone to wealthy people moreso than these. the first person i knew to buy a tesla was an accenture partner and the true ludicrous mode to me was providing him subsidies. you can argue for alternative fuel adoption - but that would be done more fairly by taxing inefficiency on gas motors - vs. simply incenting and rewarding whatever designs put the most batteries into cars.
tesla just introduced the canadian shorty boy model
Tesla sneaks past Canada EV incentive law with cheap 93-mile-range Model 3
to get canuck buck EVs.
i'll also point out the claims that "of course tesla can and has already done everything, you doubting idiots" by the nutswingers seem quite premature. i have always stated they had success selling luxury cars on a luxury drivetrain and it would be hard to move downmarket, and do some competitively and profitably. i don't view the model 3 as an "everyday man" car price range i'd be willing to come close to, especially for the battery sizes large enough to buy your way out of charging time inconveniences. i don't know what all is going on at the company but the stock price has rarely made sense given its actual financial state. **even with massive subsidies to themselves and their customers**
Most people buying Tesla’s do not care about the EV tax credit. They would have purchased the car either way. (Esp the S and X model customers) it’s just a bonus.
For me I took mine and put it in the bank to use on some house improvements. I never counted it as free money or something I needed to have to purchase the car.
By the time I purchase my next one I’m sure the credit will be long gone. But that is not going to sway my purchase of one of their vehicles, or an Audi electric, or Porsche electric car.
To be fair though a lot of cars that were way cheaper also got the same $7500 tax credit. Chevy volt, Nissan Leaf, e-golf, Pacifica plug-in, Honda clarity.....etc.... so it’s not just these ridiculous expensive $90k cars. And the had that tax credit since at least 2011 that I know of. Tesla is just playing the game, they didn’t make the rules
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