I sold most of my holdings at 448.5 out of frustration. I understand those who bought years ago who see no need to sell now and will likely hold for another 5 to 10 years and retire multi millionaires, when Tsla splits a couple more time and still hits $800/share. But for the day traders like me who jumped in in 2020 and rode to the all time high of 530, the post split period of these last weeks are underwhelming. Q3 numbers are coming out next week but, while I expect Tesla will do well, I suspect the share price will not move significantly and this election end of year is nothing to look forward to. In the meantime, I'm learning to diversify!
Thanks Nursebee, interesting YouTube video which shows where Musk got some of his ideas. I am a big proponent of V2G and was thus disappointed when he dismissed its use during Battery Day. Either he doesn't like that V2G would compete with his PowerPack line of home energy storage or he does intend to implement it but wants to keep it under wraps until it becomes a value added solution down the road when real competition starts pressuring auto sales. Tesla is the future of energy storage solutions and its stock price will reflect this in due time, when auto factories are fully built and sales volumes are in line with expectations and more attention is placed on giga storage facilities like those in Australia and soon in SoCal. I'm a true believer but I often find myself confronting fanatics who dismiss any Tesla or Musk criticism as heresy and is the reason I got in and quickly out of TMC. For example, I admire Musk's effort building huge cast molding machines to streamline manufacturing and eliminate the rather large number of parts usually required to build the front and rear undersides. He even had to create a special alloy to improve production volumes but in the end, he is able to manufacture faster and cheaper than traditional car manufacturers. My concern though is from a consumer perspective... what happens after a fender bender when that single part is bent or cracked? Who will fix it and for how much? Will insurance companies have a special Tesla rate because even slightly damaged cars will have to be totalled? Try bringing that up on a TMC forum... Imagine when I suggest Musk should do less talking and let more polished speakers do it for him...
The start of the road down for Tesla? First group of owners that go to court. Google translation of the article in Dutch newspaper: Dutch Tesla owners threaten to sue car manufacturer: "Many problems with the cars" A group of dissatisfied Tesla owners have united in the Netherlands and are threatening to file a lawsuit against the American manufacturer of electric cars. According to the Tesla Claim Foundation, customers experience many problems with electric cars. "In the autopilot mode, for example, the car can suddenly brake on the highway", the foundation says. “Tesla sells electric cars with the promise that they are virtually maintenance-free and profiles itself as a service-oriented brand. In both areas, the experience of many Tesla drivers is at odds with the promises,” says Tesla Claim Foundation. According to dissatisfied customers, drive shafts need to be replaced after a number of journeys and doors sometimes open by themselves or do not open anymore. Other reports include a malfunctioning AutoPilot, broken windshield wipers, loading problems, etc. Also, the promised power and range are not achieved in practice. "At least half" A spokesperson for the Dutch foundation estimates that at least half of the Teslas sold suffer from one or more of the aforementioned problems. If the customer then reports a defect to Tesla, the company would hardly be reachable. According to the foundation, it sometimes takes a month before an appointment can be scheduled for a repair. The group does not want to say how big the compensation per car is that it demands from the car manufacturer. "Negotiations have not proved fruitful so far," said the spokesman. My intuition and personal experiennce tells me that you will not have these kind of problems of this size with German EV's. Tesla is no carbuilder, the Germans are. Notice also the fact that the range nor the promised power are reached by most of these drivers.
I think Europeans are going to be harder on Tesla than Americans or Asians. European consumers have alternative EVs from VW and Renault as well as Kia and Nissan. Those are priced significantly lower than model 3s and thus the expectation is the upscale segment of 3 series BMW or Mercedes. But Tesla's finished products are clearly not there and Europeans are not going to give any slack to the American company. I'd bet that many Tesla owners in America are also shareholders. Their car is more than just a car; it represents their hopes and aspirations and thus they are forgiving if one thing or another isn't perfect. Chinese buy Teslas because of their status symbol but they also can be relentless when things don't work the way they should, and if the government gets involved, Tesla will have big problems. All at the same time Musk decides to pull his PR team...Because like so many engineers, he thinks things get sold because they are better. Except he spends more time figuring out how to make a better battery than making a better finished product. There aren't many more Tesla geeks out there to buy a Tesla, few questions asked. To the rest of the world, Tesla is just a car that has to meet the quality standards of a $35k car. Maybe he should sell his vehicles for an extra $400 and give a "free" Tsla share for every car purchased!
Reads like lawsuit happy crowd they are. If a driveshaft (what is this in a non ice car?) needs replacement, my bet is it is warranty. Doors open or not? Hah, never heard of it. What is a loading problem? Broke wipers? Really? They are different, not broken that I know of. Phantom braking is strange when it happens, though you are supposed to be in control of the car yourself. It happened in a known set of circumstances (shadows such as from an over pass) and internet chatter is it is better. Unreachable company? Service appt is the easiest thing in the world to get, takes less than a minute from the app. Fake news! I've never driven a German EV. How was your experience driving one? I question using a phrase like "intuition" in this circumstance. https://www.thinkadvisor.com/2018/11/16/daniel-kahneman-do-not-trust-your-intuition-even-f/
If you are a Tesla fan, all bad news is fake news. You don't even read the original text and have no clue who and how many people are gathered to make 1 big claim. All you can do is follow your intuition, but as you know that is not a good idea as you cannot trust your intuition. Door problems fake? 1 Dutch buyers had to go for 10 repairs in the first 6 months. This is the original article: https://radar.avrotros.nl/nieuws/item/ontevreden-teslarijders-dreigen-met-rechtszaak/ Radar.avrotros is a consumers program on TV that helps consumers when having problems with any product they bought. The main goal of this program is to expose bad products. Products that are sold with fake (unreliable) information about the product. I was lucky to be able to drive the Mercedes EQC. Drives like any Mercedes. Excellent product, like all Mercedes cars.