Elon Musk’s Tesla Bait-and-Switch Is Getting Old

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Elon Musk’s Tesla Bait-and-Switch Is Getting Old

Bloomberg04-16

The EV company keeps pushing its “next phase of growth” message, but it’s getting harder to look past a slump in vehicle sales and its unexciting lineup.Looking for that next phase of growth.In case ...

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Dr Rck
·04-16
In this price competitive environment, TSLA may lose grounds even further adding to its many headwinds. Until more exciting developments AND the realisation of these deliverables, its stock may continue on a downward spiral!
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大蟒
·04-16
Love is over
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bktan
·04-16
不olgom mogmmmj媽媽你們從，.？. l。 g gl。m。
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And it has done its best to reposition itself in the minds of investors as an artificial intelligence company.OK, that last bit isn’t very car company-like. It is Tesla-like. After the debacle of quarterly sales figures earlier this month that missed by a mile and then the bizarre drama of a Reuters report that Tesla had ditched plans for a low-cost model — denied, sort of — Musk announced a forthcoming robotaxi reveal. Whatever ends up getting unveiled in August, the sense of Tesla seeking to reframe the story around expansive visions of AI, rather than the current reality of shrinking volumes of vehicles, is palpable.Indeed, the same weekend Tesla informed employees of the layoffs, it slashed the monthly subscription fee on its full-self driving driver assistance package in half. As with boxes on four wheels, the future does not sell itself, it seems. While the new price of $99 per month may tempt more drivers to sign up for FSD that way, it is also likely to take away from those who buy the package upfront, which is $12,000 currently, adding a further headwind to profit margins, at least in the near term.The layoffs will offer some shield, but it is tough to quantify the benefits. As of 2022, Tesla’s global median employee compensation was about $34,000. Assuming a 10% increase since then — inflation’s been sticky — and 14,500 layoffs, that’s about $550 million before severance costs and taxes. Based on the current consensus forecast, that’s maybe 4-5% of 2024 earnings. Of course, these are guesstimates, but this feels more like saving pennies than something transformational for the finances — and the stock.For that, Tesla needs a new low-cost model to revamp its lineup and expand the market. Or a truly functional robotaxi. The former looks at least a year or two off. And the sudden departure of one of Tesla’s few named company officers, Andrew Baglino, senior engineer of energy and powertrain, suggests even that timeline may be optimistic. The latter looks, as ever, vastly oversold as a concept.Tesla’s layoffs add to the narrative of being a car company dealing with a slowdown. Yet its stock remains priced at about 55 times forward earnings — roughly where it was at the start of the month before those sales figures blew a hole through forecasts (or should have). Investors don’t seem to have gotten the memo quite just yet. Results come out next week.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[{"id":295871481802984,"gmtCreate":1713244262885,"gmtModify":1713244267037,"author":{"id":"3576157343730083","authorId":"3576157343730083","name":"Dr Rck","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":7,"crmLevelSwitch":0,"authorIdStr":"3576157343730083","idStr":"3576157343730083"},"htmlText":"In this price competitive environment, TSLA may lose grounds even further adding to its many headwinds. Until more exciting developments AND the realisation of these deliverables, its stock may continue on a downward spiral!&nbsp;","listText":"In this price competitive environment, TSLA may lose grounds even further adding to its many headwinds. Until more exciting developments AND the realisation of these deliverables, its stock may continue on a downward spiral!&nbsp;","text":"In this price competitive environment, TSLA may lose grounds even further adding to its many headwinds. Until more exciting developments AND the realisation of these deliverables, its stock may continue on a downward spiral!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/295871481802984","repostId":1146247499,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":295865811181752,"gmtCreate":1713242788580,"gmtModify":1713242792317,"author":{"id":"3555664469386585","authorId":"3555664469386585","name":"大蟒","avatar":"https://static.tigerbbs.com/2f43219efea6fadaa1c500f3bd8eeaca","vip":1,"crmLevel":8,"crmLevelSwitch":1,"authorIdStr":"3555664469386585","idStr":"3555664469386585"},"htmlText":"Love is over&nbsp;","listText":"Love is over&nbsp;","text":"Love is over","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/295865811181752","repostId":1146247499,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":295857483943952,"gmtCreate":1713240753611,"gmtModify":1713240758195,"author":{"id":"3587027729294734","authorId":"3587027729294734","name":"bktan","avatar":"https://community-static.tradeup.com/news/1174922944d56321b7a5fd0accfc5bf7","vip":1,"crmLevel":2,"crmLevelSwitch":1,"authorIdStr":"3587027729294734","idStr":"3587027729294734"},"htmlText":"不olgom mogmmmj媽媽你們從，.？. l。&nbsp; g &nbsp;gl。m。","listText":"不olgom mogmmmj媽媽你們從，.？. l。&nbsp; g &nbsp;gl。m。","text":"不olgom mogmmmj媽媽你們從，.？. l。 g gl。m。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/295857483943952","repostId":1146247499,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":7,"commentSize":3,"repostSize":3,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}