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Tesla stock drops on Q4 earnings miss, EV maker warns production growth rate will be 'notably lower' than 2023 (finance.yahoo.com)

submitted 5 months ago by 1984 to c/technology@lemmy.world

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I'm enjoying this. Also Musk went out and said that he wants barriers on trade or else the Chinese companies will dominate the market.

I thought Musk would be happy, because he truly wants to save the planet doesn't he? It shouldn't matter if he or someone else makes the best electric cars then?

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[-] MondayToFriday@lemmy.ca 79 points 5 months ago

Could it be because among affluent, environmentally conscious consumers, it's no longer cool to be driving a car made by an unhinged right-wing narcissist?

Musk said on the earnings call that his concern would be, given his current shareholding, that he will have "so little influence" in the future that some major shareholder could strip away his control or make a bad decision.

Or could it be a consequence of dumping shares to fund a megalomaniacal need to own a social media platform?

[-] ryathal@sh.itjust.works 41 points 5 months ago

I'd say it's more that he's saturated the early adopter market. Selling to a more cost and quality conscious market is harder. The fact consumer reports rates their cars less reliable than McDonald's ice cream machines is a bigger problem than Musk's ego.

[-] wintermute_oregon@lemm.ee 15 points 5 months ago

I have no major issues with my car but for the money, the build quality was crappy. It’s not what you’d expect for a car of that cost.

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[-] squiblet@kbin.social 21 points 5 months ago

“or make a bad decision” is hilarious. Like say, insist that the company spend 4 years developing a bizarrely impractical truck that Elton himself said they “dug their own grave” with?

Musk said, adding that he's "not looking for additional economics; I just want to be an effective steward of powerful technology."

Oh yes, we all believe this techno Jesus crap at this point. Right.

[-] CanadianCorhen@lemmy.ca 10 points 5 months ago

bad decisions, like making a truck that looks like... that...

[-] Tobberone@lemm.ee 3 points 5 months ago

I'm not entirely sure how to phrase this, but... Today there are choices...

[-] IWantToFuckSpez@kbin.social 51 points 5 months ago

Guess alienating your primary target demographic and trying to turn angry climate change denying conservatives into Tesla buyers wasn’t a genius move.

[-] psychothumbs@lemmy.world 11 points 5 months ago

Yeah hard to imagine Musk's new right wing fanbase being willing to buy electric cars even if they're made by him.

[-] bizzle@lemmy.world 9 points 5 months ago

The dumbest guy I know was going to buy a Tesla because he's a right wing extremist and wanted to support Elon, but he couldn't afford it. He blamed Joe Biden even though he retired early and blew his retirement payout on lottery tickets and cigarettes.

[-] WhatAmLemmy@lemmy.world 6 points 5 months ago

It hurt itself in its confusion... Constantly... Repeatedly... Consistently... Over and over and over and over again... For as long as it lived.

[-] Diplomjodler@feddit.de 1 points 5 months ago

I really always wonder how these people manage to survive. Even breathing must be an intellectual drain for them.

[-] Nomecks@lemmy.ca 50 points 5 months ago

I don't think the word "Charlatan" has ever applied to anyone more aptly than Musk.

[-] emptyother@programming.dev 6 points 5 months ago

Nah, a charlatan has class. Musk doesn't.

[-] puppy@lemmy.world 38 points 5 months ago

How much of it can be attributed to Elon alienating potential buyers? Every shareholder must be thinking this.

[-] Diplomjodler@feddit.de 8 points 5 months ago

A lot. Also, since he's been busy spreading hate on Xitter, Telsa has notably lacked direction and focus. They've just been coasting for the past three years or so. Time for a new CEO.

[-] Fades@lemmy.world 5 points 5 months ago

Don’t forget poor quality assurance and build quality in general, although I’m sure that too can be traced back to phony Stark

[-] puppy@lemmy.world 2 points 5 months ago

A couple years ago a lot of people were quite happy to make that compromise in the name of helping the environment. Not so much after Musk showed his true colours.

[-] NegativeInf@lemmy.world 1 points 5 months ago

He's no Tony Stark. More like a Justin Hammer but with less charisma.

[-] xarexyouxmadx@lemmy.world 29 points 5 months ago

But have they figured out how to keep the wheels from falling off?

[-] assembly@lemmy.world 24 points 5 months ago

I think they are adding a monthly subscription fee for that feature.

[-] lamabop@lemmings.world 6 points 5 months ago

Front fell off

[-] podperson@lemm.ee 3 points 5 months ago

Well that’s not typical.

[-] MyOpinion@lemm.ee 15 points 5 months ago

Musk is in the process of destroying Tesla.

[-] 1984 11 points 5 months ago

Maybe Twitter first, we will see I guess. Worst manager ever.

[-] dustyData@lemmy.world 6 points 5 months ago* (last edited 5 months ago)

Twitter is already dead, we are just watching the corpse discompose as only the diehard fans and the utterly addicted remain and slowly first reduce their use/replace some of their time with some other social media, then outright abandon it. Online platforms rarely die with a bombastic thunder, but instead limp with a wimp for a long time, shells of their former selves. For example, My Space and Digg are still around.

[-] prole@sh.itjust.works 13 points 5 months ago

Can we please have those cheap Chinese EVs flood the market??

[-] fuckwit_mcbumcrumble@lemmy.world 18 points 5 months ago

The cheap chinese EVs are only really cheap because of the heavy subsidies provided by the Chinese governments. And they're mostly really targeting developing nations where a cheap car really matters. The US is already flooded with cars, and money so it's going to be a lot harder to break into that market. Plus both the people and the government have their biases against the Chinese to boot.

[-] Num10ck@lemmy.world 9 points 5 months ago

and they are designed to last 5 years and are rusting so bad that Russians are regretting them.

[-] 1984 2 points 5 months ago

Which ones are cheap again?

[-] downpunxx@kbin.social 1 points 5 months ago

yes, because chinese tech won't ever be an issue for national and personal security

[-] AngrilyEatingMuffins@kbin.social 1 points 5 months ago

The guy in favor of imprisoning and surveilling an entire nation says this? Lmao you fucking jackass

[-] MyDogLovesMe@lemmy.world 12 points 5 months ago

Again, that ‘truck’, …The Homer.

[-] SomeGuy69@lemmy.world 9 points 5 months ago

Tesla stock is the most overhyped shit on the wallstreet.

[-] NotMyOldRedditName@kbin.social -1 points 5 months ago

It was very obvious 2024 was not going to meet the 50% goal and they've been warning us for years about it.

50% with some years over and some years under based on when we do vehicle launches is what they've been saying for quite a long time now.

The only way 2024 was ever going to be above that trend line, or even in its vicinity is if the Gen 3 platform launched, and it's been clear for over a year now this wasn't happening in 2024.

Probably like mid 2022 this was the obvious outcome for 2024.

And yet everyone is acting like the sky is falling.

The sky is falling when gen 3 comes out and it doesn't sell well at reasonable profit. If it sells with reasonable profit, everyone is going to be hospitalized with whiplash as they start spiking deliveries again and March their way to 7-10 million vehicles based off the platform (multiple vehicles in the platform)

But ya, 2024 is a dud year. It's been a dud year vehicle wise for over a year already.

[-] 1984 2 points 5 months ago

My sky is not falling, I hope the stock price hits 108 again though so I can buy the turds stock and make bank. :)

[-] NotMyOldRedditName@kbin.social 2 points 5 months ago

If it goes that low before gen 3 is out, I hope I got cash available.

If it goes that low after gen 3 comes out and fails, not so much!

[-] 1984 1 points 5 months ago

Yeah we will see. ')

[-] Daiken@lemmy.world -2 points 5 months ago

I think it goes without saying that if you want to protect your domestic market, that having trade restrictions and tariffs is essential. Especially if you have higher labour and environmental standards. So I do support Tusk in that matter. I still think he's a twat though.

[-] 1984 7 points 5 months ago

But don't they already have that in the US? It seems that brands like Kia are not nearly as big in the US, while they have explosive growth here in Northern europe since they get top reviews.

[-] Bdtrngl@lemmy.world 1 points 5 months ago

Does Kia really get good reviews in Europe? They seem to be best known for their enormous fuck ups in the US.

[-] 1984 8 points 5 months ago

Yeah they are at the top of most reviews here. They have a bad reputation from before but trying to clean up their act. The Kia EV6 is very highly rated, and Kia Sportage as well.

[-] hitmyspot@aussie.zone 1 points 5 months ago

Wouldn't that be in breach of WTO rules? Certainly tariffs based on carbon are likely moving forwards. Protectionism doesn't help anyone long term.

this post was submitted on 25 Jan 2024

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