DC: Tesla has less than six months to go before the electric automaker enters complete insolvency due to chronic business problems, according to one Chicago-based investment group founder.
Analysts are blasting Tesla as the Silicon Valley company’s shares and bonds continue to flounder amid concerns about the safety of electric car technology. Tesla is not in financial condition to absorb any more bad news, one analyst told The Daily Caller News Foundation
“If you look at the financials, they are going to run out of money in less than three months,” Vilas Capital Management CEO John Thompson told TheDCNF in reference to what he sees as the company’s inability to deliver the family friendly Model 3. Tesla is making only around 975 Model 3s a week — well short of the 2,500-unit rate target by the end of this quarter.
Concern is growing over Tesla’s poor production performance. It managed to build a mere 260 Model 3s between July and September of 2017. That number is well below the 1,500 Tesla promised before the end of the fourth quarter of said year. Total orders for the wallet-friendly vehicle tumbled from a high of 518,000 to 455,000. read more
I TOLD ‘EM – “426 Hemi, or NOBODY’S gonna buy this gussied-up piece of tupperware!”
Did they LISTEN?!?! Clearly NOT… 🙄
But … but … but … an electric car!
See, electricity don’t use no energy and shit, cuz it’s all free!
You jus plug it in! No muss, no fuss, no carbon stuff!
It’s like, y’know, we are the world … an shit …
izlamo delenda est …
If it weren’t for Obama’s green energy give aways Tesla wouldn’t have ever launched. Another obama FAIL!
I have an Edsel for sale. Anyone interested?
Did I not post what’s below from an e-mail I received in another thread???
Certainly you could do your own math…
Everyone should read this and wonder at the goal of the “green” people. Electricity, in turn, requires the burning of some fuel or the installation of some other expensive equipment to be generated (windmills or solar panels etc.).
Ever since the advent of electric cars, the REAL cost per mile of those things has never been discussed. All you ever heard was the mpg in terms of gasoline, with nary a mention of the cost of electricity to run it. This is the first article I’ve ever seen and tells the story pretty much as I expected it to.
Electricity has to be one of the least efficient ways to power things yet they’re being shoved down our throats… Glad somebody finally put engineering and math to paper.
At a neighborhood BBQ I was talking to a neighbor, a BC Hydro executive. I asked him how that renewable thing was doing. He laughed, then got serious. If you really intend to adopt electric vehicles, he pointed out, you had to face certain realities. For example, a home charging system for a Tesla requires 75 amp service. The average house is equipped with 100 amp service. On our small street (approximately 25 homes), the electrical infrastructure would be unable to carry more than 3 houses with a single Tesla, each. For even half the homes to have electric vehicles, the system would be wildly over-loaded.
This is the elephant in the room with electric vehicles… Our residential infrastructure cannot bear the load. So as our genius elected officials promote this nonsense, not only are we being urged to buy these things and replace our reliable, cheap generating systems with expensive, new windmills and solar cells, but we will also have to renovate our entire delivery system! This latter “investment” will not be revealed until we’re so far down this dead end road that it will be presented with an ‘OOPS!’ and a shrug.
If you want to argue with a green person over cars that are eco-friendly, just read the following. Note: If you ARE a green person, read it anyway. It’s enlightening.
Eric test drove the Chevy Volt at the invitation of General Motors … and he writes, “For four days in a row, the fully charged battery lasted only 25 miles before the Volt switched to the reserve gasoline engine.” Eric calculated the car got 30 mpg including the 25 miles it ran on the battery. So, the range including the 9-gallon gas tank and the 16 kwh battery is approximately 270 miles.
It will take you 4-1/2 hours to drive 270 miles at 60 mph. Then add 10 hours to charge the battery and you have a total trip time of 14.5 hours. In a typical road trip your average speed (including charging time) would be 20 mph.
According to General Motors, the Volt battery holds 16 kwh of electricity. It takes a full 10 hours to charge a drained battery. The cost for the electricity to charge the Volt is never mentioned so I looked up what I pay for electricity. I pay approximately (it varies with amount used and the seasons) $1.16 per kwh. 16 kwh x $1.16 per kwh = $18.56 to charge the battery. $18.56 per charge divided by 25 miles = $0.74 per mile to operate the Volt using the battery. Compare this to a similar size car with a gasoline engine that gets only 32 mpg. $3.19 per gallon divided by 32 mpg = $0.10 per mile
The gasoline powered car costs about $20,000 while the Volt costs $46,000+… So the American Government wants loyal Americans not to do the math, but simply pay three times as much for a car, that costs more than seven times as much to run, and takes three times longer to drive across the country.
????????????????
I had Tesla down as a short a couple of years ago, but it was overshorted already so I couldn’t do it. Just as well…
Elon is an incredible huckster. He also has generated some incredible technology. But Tesla, while having very cool cars, is simply not profitable. And is now facing serious competition from companies with over a century of car-building experience. The battery technology will survive, the car manufacturing will drop into a smaller niche market.
Oh Boo Hoo ! it’s their turn to be mad.
@Anymouse
I’d LOVE an Edsel – those things ROCK!!! 😀
THe last successful coal powered car was the Stanley Steamer. And make no mistake or harbor any illusions about it, the preponderance of energy consumed in these electric cars uses coal to fire the steam turbines that generate not only the electricity that goes into the batteries of these junk heaps, there is a lot of inefficiency in the system as well and that electricity that is “lost” was likely generated using coal to fuel the generator that produced it.
What? No more government-subsidized luxury cars for the one-percenters?
The Tesla electric automobile and Elon Musk are as big as a failure as their namesake Nikolai Tesla was. They were both incredible mad geniuses and hucksters but ultimately failed to produce anything of lasting value for the most part.
Actually Geoff, Nikolai Tesla’s vision of AC power vs. Edison’s DC won the day.
Just irritates the shit outta me to see young and physically fit Obama sons roll into handicap spots, display their forged/stolen permits, defiantly scan the parking lots with that bad ass ghetto glare, then head in. However, it makes me laugh to see them pull into spaces right next to the door reserved for electric cars and fast get aways. They don’t even bother to pretend to plug em in.
If Tesla fails, this is going to wreck havoc on my giant extension cord business.
“Concern is growing…”
Not by me. I hope they fail so the government will stop giving them my money.
I saw an article that told how at least one country stopped all of the subsidies governments were giving to people who bought Teslas, and the sale dropped virtually to zero.
About a hundred years ago, when automobiles were just becoming popular, three methods of propulsion were tried out – electricity, steam, and gasoline – but only one proved practical for everyday use.
Electricity was not that one.
I see no reason to go back and repeat the experiment again.
TCO (total cost of ownership), nobody does the math. if the government has to get involved it is usually a bad idea. Windmills, solar panels, corn ethanol, etc…
@Claudia, it has, they are.
Without government funding, Musk is nothing but a huckster for hipsters.
More of O’Baja’s “legacy”.
More reason to rejoice at the Clinton Cabal Collapse.