Tesla scraps low-cost car plans amid fierce Chinese EV competition

JeffKeryk said:
I think the internal documents said to halt material orders, not sure. That does not mean the project is scrapped; it could mean lots of things.
I still think Musk could come out and make a definitive statement. Investors get jerked around enough as it is, especially with a roller coaster stock like TSLA. As you say, time will tell and the proof is in the pudding.
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Musk himself has to be very careful what he says about Tesla due to prior transgressions with the SEC.

Hopefully Tesla will issue a formal press release, but they also need to be careful with that because of SEC rules, investors, etc. But yes I agree, it deserves a clear response.
 
I think Tesla should stick to the higher end of the market. Chinese EVs have been on the market here in NZ for years, are fairly popular and have excellent quality. If they were awful I would have heard about it by now. Tesla won't beat them and a low-cost model diminishes the brand, just like Musk's idiotic behaviour does.
 
Kiwi_ME said:
I think Tesla should stick to the higher end of the market. Chinese EVs have been on the market here in NZ for years, are fairly popular and have excellent quality. If they were awful I would have heard about it by now. Tesla won't beat them and a low-cost model diminishes the brand, just like Musk's idiotic behaviour does.
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I agree. When the price collapsed I almost bought some. I was thinking focusing on the self driving thing would be a good thing. It takes them back to being a tech company, not the manufacturer of cheap consumer goods.

Oh well, guess its maybe not true anyway, and I only had 36 minutes to think about it.
 
I don't think the rumor makes any sense. What is Tesla going to do, just stop developing their flagship new product? No way. They need some new model to come to market. And not the Roadster, it's too niche.

Also, there's no Chinese competition in the US. The rumor doesn't make sense.

Edit: maybe they'll stop targeting it at some international markets. That might actually make sense.
 
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Well, I see Tesla is set to unveil the Robotaxi in August. I think it's been beat down enough; time to buy back in.
 
ME_Andy said:
maybe they'll stop targeting it at some international markets. That might actually make sense.
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Given USA is the worlds largest producer of crude oil, and has about the cheapest gasoline on earth - with the exceptions of state subsidized areas - selling EV's elsewhere actually makes more sense than selling them here - economically speaking.
 
What I really want is a proper EV hot hatch competitor with real range. For me that would be whatever the top trim fast Tesla that comes out as this entry level model assuming it's actually a 5 door hatch. VW isn't taking it seriously and hemming and hawing about if this new car will come to the US. Even then their metric is to be a little faster than the current GTI. That's not a problem for a car that can be modified. An EV slightly faster than a stock GTI is a slow EV and I'm not interested in that. It'll be heavier and likely not handle quite as well as the current car, so it better actually be fast.
 
daves87rs said:
That would surprise me…..
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First of all - sorry for the bad grammar. That should have ready "starting at $35K".

Almost though. I rounded up to the next thousand.

EX30. Big electric performance in a small package.​
Starting at $34,950 MSRP*​

And the popup for the price:

Price shown is for Core Single Motor Extended Range, RWD; certain trim levels may have limited availability. Final pricing and payment terms will be available closer to delivery time at your Volvo Cars retailer. Retailer price may vary. A reservation does not guarantee availability of a select trim.​
 
UncleDave said:
Or it could be the 25K car will be 30K, or , or, or. Lots of possibilities and opportunity to misquote or twist.
Or maybe Elon was moaning about not being able to make money on it, who knows.
Kind of hard to tell with Elon, he does get it wrong a bunch.
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25k in 2019 is not the same 25k in 2024...
 
Or it could be the 25K car will be 30K, or , or, or. Lots of possibilities and opportunity to misquote or twist.
Or maybe Elon was moaning about not being able to make money on it, who knows.
Kind of hard to tell with Elon, he does get it wrong a bunch.
PandaBear said:
25k in 2019 is not the same 25k in 2024...
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PandaBear nailed it. But those with EDS will continue to use the years old rumor of a $25k Tesla as a talking point to deride Elon Musk and Tesla as a auto manufacturer.

It was also Reuters who wrote a highly negative article regarding the value of Tesla stock predicting it would tank a few days ago after the Q1 2024 numbers were posted. All it takes is to have a look at TSLA;s daily closing value over a month or so to see the amount of fluctuation that occurs is fairly normal and Reuters was full of baloney.

Too bad it isn't print medium, I need something to line my parakeet cage.
 
What a week!

104B7BD3-C5B4-4F13-95BC-FBF3634D05CC.jpeg
 
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PandaBear said:
Very true. I think Elon decided that they don't want to focus on the lower end market as they will not beat the like of BYD.
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If that’s true, Tesla is in big trouble.
The company is rudderless. All the promotion on how their products were going to be priced for the average American turned out to be a failure.
In addition, their products are not looked as high end and those manufactures will be in Tesla’s marketplace as well.
It’s clear the company is in turmoil shareholders had a value of Tesla 1.2 trillion dollars years ago and now shareholders have that value at $530 billion in rough numbers.
The stock is down 60% and more from its high.
Some good news will pop the stock maybe, Musk says Robo taxi will be in August of this year
 
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alarmguy said:
If that’s true, Tesla is in big trouble.
The company is rudderless. All the promotion on how their products were going to be priced for the average American turned out to be a failure.
In addition, their products are not looked as high end and those manufactures will be in Tesla’s marketplace as well.
It’s clear the company is in turmoil shareholders had a value of Tesla 1.2 trillion dollars years ago and now shareholders have that value at $530 billion in rough numbers.
The stock is down 60% and more from its high.
Some good news will pop the stock maybe, Musk says Robo taxi will be in August of this year
Click to expand...

We all know that will happen on schedule and go to plan. 😂
 
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