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Tesla releases Q1 2024 deliveries: disastrous results

electrek.co

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Re: Tesla releases Q1 2024 deliveries: disastrous results

#41

Post by lostlogin »

NickM wrote: post #28
toomuchtodo wrote: post #3

Interest rates and vehicle prices too high, must come down to expand TAM. Future benchmark rate cuts should improve affordability (most people finance and buy a payment), but Tesla will need to navigate burn rate until central bank pivots.

FWIW they had some insane discounts toward the end of March, to the extent that I'm not sure high prices is the problem. I bought a new long-range AWD Model Y myself a couple weeks ago because between the discounts and tax credits I ended up paying under $40k (would've been around $36k but even after sales tax and fees and stuff it was still only around $39k). At those prices I'm not sure how they aren't selling more…

> At those prices I'm not sure how they aren't selling more cars.

The above mentioned Elon Factor?

Re: Tesla releases Q1 2024 deliveries: disastrous results

#42

Post by nixgeek »

Some friends bought a Model X about six months ago, spending over $100k — that’s down from the almost $150k that Tesla was demanding a couple years ago when we bought one (and both were fairly fully loaded).

First, my experience 2 years ago was the A/C compressor was so loud that during summer with cooling running at maximum, you couldn’t hold a conversation in the cabin because of the noise. Tesla investigated and eventually said “looks fine to us, there isn’t designed to be any additional noise abatement on the firewall between the front and the passenger space”. We had issues with our Falcon Wing doors, and we eventually sold the vehicle after a year.

Now, our friends Model X, that’s had ~6 non-trivial maintenance problems in six months, including the Falcon Wing doors failing three times, and they’re in the process of trying to get a refund through Lemon Laws.

Other acquaintances who own Teslas also have service issues on their Model X, the Cybertruck looks like an even worse mess, so I concluded over a span of multiple years, quality still isn’t a strong suit of Tesla, thus I’m not shocked to see there’s limited brand loyaly, and with increasingly viable competition, demand is falling?

I now have a Rivian R1S and we are incredibly happy with that vehicle, having put about 6000 miles on it. Mercedes EQS also seems like a reasonable choice in 2024, depending on what you want.

Re: Tesla releases Q1 2024 deliveries: disastrous results

#43

Post by hibikir »

I could see this coming weeks ago: My local dealer was cold-calling existing owners to try to get them to buy the updated model 3, which isn't a very significant update at all. They had a bunch on the lot that weren't selling.

We can also see the promotion of a free trial for self-driving as a response to this too: Hoping some people bite after trying it out. Whether that happens, or we just see more videos of failed self-driving is another story.

Either way, Tesla hasn't done much to improve their normal models in 2 years. The cybertruck is barely in production, and it's hard to see it as having massive demand. Elon's cultural alignment with people that at the same time are being told that electric vehicles will be bad for America is probably not great for sales on either side of the cultural divide. Add high interest rates, and it's unsurprising to see trouble. But does anyone have enough shares to try to force Tesla to make significant changes in diection? Unlikely.

Re: Tesla releases Q1 2024 deliveries: disastrous results

#46

Post by silverquiet »

NickM wrote: post #28
toomuchtodo wrote: post #3

Interest rates and vehicle prices too high, must come down to expand TAM. Future benchmark rate cuts should improve affordability (most people finance and buy a payment), but Tesla will need to navigate burn rate until central bank pivots.

FWIW they had some insane discounts toward the end of March, to the extent that I'm not sure high prices is the problem. I bought a new long-range AWD Model Y myself a couple weeks ago because between the discounts and tax credits I ended up paying under $40k (would've been around $36k but even after sales tax and fees and stuff it was still only around $39k). At those prices I'm not sure how they aren't selling more…

Do you think that maybe a $40K car is a fairly large amount of money for a lot of people?

Re: Tesla releases Q1 2024 deliveries: disastrous results

#47

Post by headmelted »

bethekind wrote: post #12
testbf wrote: post #2

Well I’m a Tesla employee and I started looking for a new job today. There’s a lot of smart people who see where this is going.

Robot taxis not coming soon enough?

I was under the impression (admittedly from an article I read a couple of years ago) that the consensus within the company was pretty much always that robo-taxis were one man’s pipe dream.

Weren’t there also disclosure documents a couple of years ago when they were trying to license autopilot that said they believed internally they were at level 2 as opposed to 4/5? (I might be remembering this part wrong)

Re: Tesla releases Q1 2024 deliveries: disastrous results

#48

Post by toomuchtodo »

silverquiet wrote: post #46
NickM wrote: post #28

Earlier quoted context omitted.

FWIW they had some insane discounts toward the end of March, to the extent that I'm not sure high prices is the problem. I bought a new long-range AWD Model Y myself a couple weeks ago because between the discounts and tax credits I ended up paying under $40k (would've been around $36k but even after sales tax and fees and stuff it was still only around $39k). At those prices I'm not sure how they aren't selling more…

Do you think that maybe a $40K car is a fairly large amount of money for a lot of people?

Average price of a new car in the US is ~$47k as of February 2024.

Re: Tesla releases Q1 2024 deliveries: disastrous results

#50

Post by seydor »

(at least internationally) Tesla has failed so far to provide a low cost EV when all their competitors already have. There is a limited number of people who buy them for the prestige factor, but it s a small population. I m thinking of a Volvo EV but would consider a Tesla if they had one in the same category/price ranges.

Pretty much nobody cares if it's self driving

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