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Chevy Volt a Failure - GM to Layoff 1,300

Discussion in 'Sports and News' started by Evil Bastard (aka Chris_L), Mar 2, 2012.

  1. Ace

    Ace Well-Known Member

    He's not suggesting it. Those are numbers of people who pre-ordered it.
     
  2. justgladtobehere

    justgladtobehere Well-Known Member

    His post was offered as a support for Tesla and the general viability of EV. A hundred thousand people dropping a grand for a car before production vehicles have rolled off the line does not support his claim.
     
  3. RevPastor

    RevPastor Member

    After being proven to be dishonest in your last few attempts at claims, I'll do it again here with this claim. I will also add that it isn't necessarily your fault that you are being dishonest since other reports are stating the same...

    From Rueters:

    Like I said, you're not the only one being dishonest... The fact is Tesla is a tech company designing batteries and selling them as cars. Thousands upon thousands of companies operate at a lost over a number of years. Especially since it is considered normal.
    The other fact is, you can look at the date of the articles which state that Tesla is selling a car at a loss and choose to update your knowledge on whether this remains true at the end of the year or if this holds steady. Given the Tesla Q4 earnings reports, their year ended positive. They lost no money! Seems as though they turned a profit. But, you keep going with your claims about the car company selling each car at a loss even though its based on year old thinking...
     
  4. RevPastor

    RevPastor Member

    Honest question... why do you believe that this is "the left's favorite car company"?

    By all accounts those that love cars, really love the performance of Tesla's high end vehicles. That has nothing to do with an individual's politics.

    Those with liberal points of view are somewhat mixed on Musk given the stories on how he treats his workers versus whether this electric vehicle is the "answer" to some mysterious question.
     
  5. doctorquant

    doctorquant Well-Known Member

    Your responses suggest that you can write but that you can't read.
     
    YankeeFan and murphyc like this.
  6. RevPastor

    RevPastor Member

    If you feel like pointing out where I'm wrong, by all means, go ahead. Please, also provide links to sources for any claims you make when doing so. Thanks!
     
  7. bigpern23

    bigpern23 Well-Known Member

    1. I haven't suggested any numbers. The number I quoted was reported by Forbes.
    2. Yes, that's certainly key. However, the number of people who are spending $1,000 to reserve the car is certainly indicative of their excitement.
    3. Looks like we have a good idea of the cost. $35,000 base, going up to $60,000 fully loaded. Consumers will decide on models somewhere in between.
    4. Sure, that's true, the tax credits will affect demand. That doesn't "distort" the demand. The demand will be real at that price point and it may not be there if people have to pay an extra $7,500. It's a factor people consider when purchasing a vehicle and the market will decide.
     
  8. bigpern23

    bigpern23 Well-Known Member

    Two hundred thousand. In a day.

    And my post suggested car buyers are excited over the car and that excitement could quite possibly be indicative of a mass market for EVs that has heretofore not materialized.
     
  9. The Big Ragu

    The Big Ragu Moderator Staff Member

    Tesla loses money. It is bleeding cash. It's not a discussion -- all the googling in the world doesn't obscure REALITY. Its balance sheet is loaded with debt -- more than $2 billion of debt, rated one grade above "piece of shit." Blowing through billions of dollars with endless promises is not a strategy. You or I wouldn't get that chance.

    But it doesn't end with just the hole the company has already has dug not delivering on what it has promised. It is going to have to access the debt markets again soon -- because it needs billions of dollars more to do the things it is just talking about in the immediate term with regard to the Model 3 -- the latest "this is the big one!" promise. It doesn't have the money and is LOSING MONEY WITH EVERY CAR IT SELLS (that isn't an opinion -- it is a public company that reports its earnings!). It's talking about $1.5 billion in capital expenditures in just the near term just to retool and get the Model 3 up and running -- at a time that it is bleeding cash because the company itself is so poorly run and has negative net operating income (jesus, stop googling to try to validate whatever ignorant gospel you want to believe -- I don't need a "link." One of us has can read an income statement). It's going to need to raise more capital soon -- it's a bit more complicated than that, because it has gone to the well so many times already that its asset-backed loan agreement restricts any new debt issuance. So it will likely have to hit the secondary equity market again or issue preferred stock -- assuming there are still suckers out there, although I am sure Goldman Sachs is busy right now lining up the muppets and pumping up the stock price to get everyone into peak excitement mode.

    Which is how I ended up having a discussion yesterday with someone speculating that Musk himself has people putting $1,000 deposits down to create hype so he can go out and raise more money. The person who said that was joking that at best they are $1,000 non-interest bearing, 30-day demand notes. At worst, the deposits just get refunded. And all the hype buys him more time with several hundred million more dollars of debt. It would be highly illegal as far as the SEC is concerned, but it's pretty funny -- because this is all Musk has ever done. Endless hype, missed deadlines, endless bullshit. Noisy promises, hushed retreats. There are a dozen examples of him hyping things, it getting massive media play. ... and it never coming to fruition (and the backtracks NOT getting reported).

    Remember the last hyped thing everyone got excited about on this thread -- the "gigafactory" that is going to be some miraculous game changer? ... and was supposed to be completed by October, 2017? I was "trashing" the company then when I pointed out that it was a fantasy. They are now privately walking it back . ... to 2020. And even there, unless they somehow either make a lot of money soon (doing what, though? -- they exist on government subsidies and borrowing) or find a way to borrow billions more, it isn't happening by 2020 either. They don't have the money for the bullshit he talks. Same as everything he does -- unless he can borrow money, get government subsidies and add more debt, it ain't happening. Which was all I have been pointing out. That factory -- and the magic batteries that were going to come out of it at a low cost that doesn't exist for the technology, was what was supposed to make the fantasy he sold about the Model 3 possible. How does it happen now -- with cars being sold next year! -- without that fantasy factory? Why anyone would believe a word from this guy at this point is beyond me -- let alone that the Model 3 is going to be a vehicle that delivers in any numbers, let alone one that earns the company any money?

    But fine if you want to be evangelical about Tesla. Just stop calling me names because I am pointing out reality, It's a real dick way to post -- yelling at me and ignoring my posts, which have some substance behind them. One of us has done a lot of work looking at its income statement, the structure of its debt, and every earnings statement and utterance from the bullshit-in-chief's mouth. If I had Jim Chanos money I'd be short the stock (waiting for the payday when it comes) and buying credit default swaps on its debt. Unfortunately, I can't afford to deploy money that way -- and withstand a mania running against me until reality kicks in. So a bunch of other people will eventually profit from the lunacy, not me. It doesn't mean that what I am pointing out isn't right.

    You don't have a fucking clue what you are talking about -- and it's a waste of time responding to you, because you don't make any effort to do anything except ignore my posts, masturbate into a search engine and call me names.
     
    Last edited: Apr 1, 2016
    YankeeFan likes this.
  10. justgladtobehere

    justgladtobehere Well-Known Member

    Fine. Instead of 'you' I should have wrote 'the numbers.' Minor point.

    Indicative of their excitement is meaningless. Lots of people can put down one grand. It is not indicative of how many people will be willing/able to buy the car whenever the car is available.

    The car was promoted prior to yesterday at $35G. Now there is a lot other costs.

    Subsidies distort demand. You make something cheaper, more people will want it. It's not even Econ 101.
     
  11. RevPastor

    RevPastor Member

    I'm intrigued by your comments about "calling you names". I guess I called you dishonest today, but are you really that emotional about how I proved you were not presenting facts and claiming them to be yesterday?

    Sadly, I read this post through out of some sort of thought that you really would post something of substance. The fact is you didn't. That isn't calling you names, that is pointing out that you are making claims with zero evidence to back it up.

    I linked the earnings reports. You have the ability to look at it. I linked to the articles about how Tesla is losing money. This isn't random Googling, this is putting pieces of information together and providing the connectivity to it. You provide none of that. All you make is claims about what you believe is happening based not on reality.

    I'm not an evangelist about Tesla. I don't own one. I likely won't buy one. I do like the technology they've developed with the car. As a car company, they could die. I don't care. As a battery company, which is more along the lines of what they are, they are exceptionally good.

    I find it odd that the worst I called you today was "dishonest" while you go with the ad hominems about "masturabte into a search engine" and "don't have a fucking clue what you are talking about."

    You don't really know me. You don't know the projects I've worked on for a variety of companies. You have no concept of what I even do for a living yet you claim, after I point out how very wrong you were about the company's subsidies, that I know nothing... Odd...
     
  12. RevPastor

    RevPastor Member

    As pointed out previously, the government has always manipulated the market into to address and assist the public with the types of purchases it would like for them to make. At present, a Tesla or other EVs are beneficial to the greater good of society. To outweigh the subsidies received by various oil and other fossil fuels, they try to counter with a buyers subsidy for you and I to make this purchase. Some will take up the option. Others may not.
     
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