Tesla releases Q1 2024 deliveries: disastrous results • Hacker News Board

Re: Tesla releases Q1 2024 deliveries: disastrous results

#231

Post by amerkhalid » Tue, Apr 02, 2024, 5:13 PM UTC

qwerpy wrote: post #159

hn72774 wrote: post #73

Could it be that Musk's inflammatory language and behaviors are a turn off for potential buyers? They are a turn off for me. I like the vehicles but I'd never get one.

This seems to be the case for some online communities, but in my offline circles (Asians working in tech in the PNW) no one seems to care. Driving on the street it seems every other car is a Tesla, and by and large everyone is pretty happy with them. I wouldn't say we're particularly pro-Tesla either, it's just that they were the best cars for the money at the time. As more car manufacturers start to deliver good EVs…

Same here in Frisco, Texas. Teslas are so common here and pretty much it is always Asians driving them. I keep hearing that Tesla is the new Toyota.

But talking with some of the Tesla owners, many feel embarrassed by Elon. Many say that they will not buy another Tesla or they have some other reasoning to justify their purchase (like Elon has gone crazy but we shouldn't punish the entire company for it etc)

Re: Tesla releases Q1 2024 deliveries: disastrous results

#232

Post by danw1979 » Tue, Apr 02, 2024, 5:15 PM UTC

misiti3780 wrote: post #146

mplanchard wrote: post #76

Earlier quoted context omitted.

Anecdotal, but this is absolutely the case for me. The widely reported fit-and-finish issues would have made me hesitant regardless, but as long as it's Elon's company I will not be buying a Tesla regardless of improvements in quality. Bought a Prius plug-in hybrid instead (which I'm very happy with). Prior to Elon taking the mask off I was really excited about the idea of getting a Tesla, and I'm squarely in what I…

[flagged]

The Prius driving experience is excellent. I’ve had two gen 3 prii (one a plug in) for 10 & 6 years respectively and can’t find anything to dislike apart from the lack of acceleration above 45mph. Regular cruise control, buttons for everything, excellent economy, zero road tax, huge cargo capacity for a family car.

I kind of like my flip phone thank you very much.

Re: Tesla releases Q1 2024 deliveries: disastrous results

#233

Post by trogdor » Tue, Apr 02, 2024, 5:16 PM UTC

monitron wrote: post #113

hn72774 wrote: post #73

Could it be that Musk's inflammatory language and behaviors are a turn off for potential buyers? They are a turn off for me. I like the vehicles but I'd never get one.

Yep. I am a current Tesla Model 3 owner, really like my car, but plan to switch to another brand after running this one into the ground. Elon's behavior is awful and dangerous given his fame/money, and luckily, unlike in 2017, there are now other good EV options which are getting better all the time.

I recently saw a Tesla that had a “No Elon” magnet on the back. (Red circle over white background, with a diagonal red line through the word “ELON.”)

I talked to the owner who said that his wife had custom ordered it.

Re: Tesla releases Q1 2024 deliveries: disastrous results

#234

Post by kstrauser » Tue, Apr 02, 2024, 5:23 PM UTC

hnburnsy wrote: post #228

Some other context As of Q3 2022, Tesla’s profit margins stand out significantly compared to its competitors: Gross profit per car: $15,653 Net profit per car: $9,574 In comparison, other major automakers have lower profit margins: General Motors (GM): Gross profit per car of $3,818 and net profit per car of $2,150. Toyota: Gross profit per car of $3,925 and net profit per car of $1,197. Volkswagen (VW): Gross profit…

What's the difference between gross profit and net profit?

Re: Tesla releases Q1 2024 deliveries: disastrous results

#235

Post by NickM » Tue, Apr 02, 2024, 5:23 PM UTC

SoftTalker wrote: post #55

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…

> At those prices I'm not sure how they aren't selling more cars. I cannot imagine paying $40K for a car, and I'm sure there are millions like me. You may be optimistic on what you think the average person can afford.

Right, of course, $40k is not cheap in absolute terms. But for a luxury long-range AWD electric crossover, it's significantly cheaper than the competition (at least here in the US), and also much cheaper than the same car cost a year ago.

My main point is that if prices have come down a lot, yet Tesla is now selling fewer cars than before, then it seems like there must be other factors in play besides price.

Re: Tesla releases Q1 2024 deliveries: disastrous results

#236

Post by JeremyNT » Tue, Apr 02, 2024, 5:26 PM UTC

jerlam wrote: post #154

foobarian wrote: post #18

Maybe we're getting to saturation in early adopter market? Looking around, there are a lot of folks who could not easily live with a BEV, i.e. live in apartment buildings or don't have an easy way to install L2 charging at home.

Even people for whom home charging is not an issue aren't going to abandon their existing gas cars to get an EV that performs the exact same function for a lot more money. Having an EV is not transformational. Even with a $7,500 discount, there's still a wide gap between the value of the ten-year old gas car in the driveway and the cost of a brand new EV. Not going to a gas station is just not that beneficial to most…

Just so. Today, I'd be able to get by with an EV if one were to miraculously appear before me, but none of them could have replaced an ICE for the kind of tasks we use our vehicle for at the time of our last refresh cycle (~6 years ago) at a remotely competitive cost.

Early adopters are going to early adopt, and people in high income brackets who own multiple vehicles can readily afford to have an ICE vehicle and an EV, but there are finite numbers of these folks out there to sell to. I reckon only recently EVs have gotten good and cheap enough to seriously replace ICE vehicles in the mass market.

Personally, I've got zero incentive to replace our fully functional ICE vehicle with any vehicle (EV or otherwise) until its "pretty darn reliable" service life ends - which I would place at least another 5 years in the future - at which point EVs will have closed even more of the gaps.

Re: Tesla releases Q1 2024 deliveries: disastrous results

#237

Post by stephenitis » Tue, Apr 02, 2024, 5:26 PM UTC

kstrauser wrote: post #234

hnburnsy wrote: post #228

Some other context As of Q3 2022, Tesla’s profit margins stand out significantly compared to its competitors: Gross profit per car: $15,653 Net profit per car: $9,574 In comparison, other major automakers have lower profit margins: General Motors (GM): Gross profit per car of $3,818 and net profit per car of $2,150. Toyota: Gross profit per car of $3,925 and net profit per car of $1,197. Volkswagen (VW): Gross profit…

What's the difference between gross profit and net profit?

Gross profit is the money a company makes after subtracting the cost of producing its goods or services.

Net profit is what remains after all expenses, like operating costs, taxes, and interest, are deducted from the gross profit.

Re: Tesla releases Q1 2024 deliveries: disastrous results

#238

Post by trogdor » Tue, Apr 02, 2024, 5:27 PM UTC

eptcyka wrote: post #87

denysvitali wrote: post #35

Earlier quoted context omitted.

> It's very likely that Musk himself is contributing to the reputational downfall This. I really like Tesla as a brand, but Musk should really stop over-promising and under-delivering. Their technology is really good, but far away from the promises of their CEO.

It almost feels like he's just overpromising to get other car companies to miss what is the USP of a Tesla vehicle - the efficiency. The autopilot nonsense is criminal, but the fact that VW group, Mercedes nor any Japanese manufacturer can't hold a candle to the upper limit of 4 miles per kilowatt. If a model 3 was within my budget, I'd get it despite of the lack of a good radar-guided cruise control, despite the lac…

> 4 miles per kilowatt

You probably know this, but FYI it’s per kilowatt-hour.

Anecdote: my Model S Plaid’s efficiency over 23,000 miles is 305 Watt-hours per mile.

Re: Tesla releases Q1 2024 deliveries: disastrous results

#239

Post by FredPret » Tue, Apr 02, 2024, 5:27 PM UTC

spacemadness wrote: post #97

FredPret wrote: post #79

Tesla has the Cybertruck now (is it shipping yet?). People love trucks, so this might work out great for TSLA. But they don't really have an SUV, which is by far the most popular form factor. The Model Y is closest but it's still a bit car-ish. Interest rates are up. Their chairman is going through a very public ...episode. They'll definitely overcome the headwinds: they still have superfans despite the Musk antics;…

Good luck with that thesis and sorry for your loss.

I’m a value investor and wouldn’t touch Tesla for at least another 10 years

Re: Tesla releases Q1 2024 deliveries: disastrous results

#240

Post by kstrauser » Tue, Apr 02, 2024, 5:29 PM UTC

stephenitis wrote: post #237

kstrauser wrote: post #234

Earlier quoted context omitted.

What's the difference between gross profit and net profit?

Gross profit is the money a company makes after subtracting the cost of producing its goods or services. Net profit is what remains after all expenses, like operating costs, taxes, and interest, are deducted from the gross profit.

Ah, so gross profit is kind of like "this is how much we profited off this specific car", and net profit is "this is the average of how much we profited off all these cars"?