Yeah, it is possible that could come now after the settlement. Who knows, Im sure there are thousands of pages of documents.Businesses do that from time to time. They wont' make good until forced to make good. That could be what we're seeing here. A nice hefty fine would have been nice too, but............
Tesla (TSLA) pays $6 million to settle Solar Roof class action lawsuit
- Thread starter 97prizm
- Start date
Speculation abounds. You're speculating that the plaintiffs feel the settlement was a big deal to them. We don't know that either. We don't know for example how many opted out of the lawsuit. This thread is just another attempt to throw shade at Tesla.Speculation void of any fact or substance
(are you the one that hates real estate agents too?)
I have no opinion on RE Agents.
I know an attorney who made huge $$ on the Deepwater Horizon fiasco. BP wasn't looking to hard at what some may view to be tenuous links between DW Horizon and the impact it had on a client.
They're in business to make money. I'm sure he did his job and earned his money.
I was bummed it wasn't a couple of billion
Unfortunately fines don't dissuade companies. Jail time and stop sales of their products usually do. Let's face it, if this were any other company the Musketeers would be out in full force with pitchforks and torches.
It's not to throw shade or shame but. If you purchased a brand new vehicle, house, boat etc paid in full then got a notice from the said company that whatever you purchased is "Actually " twice as expensive, they just messed up but no worries send us additional payments. You would be livid I'm guessing. This shows more and more (If i actually owned stock) that maybe Elon is more or less not useful to the company. If they can't calculate actual product costs and get an accurate cost on contracting this out maybe they shouldn't be selling solar roofing tiles.
I'd like to know how it was possible for someone to have a $72,000 solar roof. How big was the house, 20,000 sq. ft ?
I seem to recall the quote for a solar system for my 1500 sq, ft house was somewhere between $8000 and $12,000.
I seem to recall the quote for a solar system for my 1500 sq, ft house was somewhere between $8000 and $12,000.
Too bad it wasn't 6 trillion dollars.
Musk is a liar and a crook.
Another promise made, that failed miserably.
It was Tesla, and the promise by the Muskrat to be the next "Big" innovation. During the company’s first-quarter earnings call, CEO Elon Musk admitted the firm made “significant mistakes” when assessing how hard it would be to install certain roofs. The new pricing system factors in roof complexity.
They were saying it was over $21 a square foot. So yeah and they weren't the newer style of solar that are 40% efficient. Those capture wavelengths from different frequencies. Those are truly remarkable.
Exactly!!!
I do bids, and quotes all the time.
Never ever can I just go back and charge more.
If I quote a job at $30,000, I charge them $30,000.
If I screwed up and make nothing, or lose money, that is my fault. Then I just eat the cost, learned a lesson, and move on. I don't charge the customer another $30,000.
There are two-parties to a contract. Read contracts carefully.
This suit reminds me of what started happening with HERO (Home Energy Renovation Opportunity) loans in California and elsewhere. Poor grandma thinks she's getting cheap upgrade on her HVAC system then her property taxes go up and she doesn't understand why nor why she has lost her house over back taxes. HERO loans are financed through local governments. That took a lot of people by surprise. Another example were all those NegAm loans originated in the 2006-2007. Again unsuspecting borrower didn't understand that the minimum payment would only last for 6-12 months. They could no longer pay once the loans adjusted.
This thing with Tesla is peanuts compared to what the Big Three, VW etc. have done to consumers.
Me too, and with a fine of another couple of billion.
You do know the plaintiffs voluntarily joined the class action lawsuit, so I suspect a settlement, they are happy since their intention was to get some money back.
They also signed away the right to go after more money as a condition for joining the class action suit.
You’re not gonna drag me into semantics as far as people who decided not to join.
Class action suits work well for some people, fill out a form and hope for a settlement, no effort on their part and for many who didn’t even think they would bother to take any action
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And now the precedent has been set, so let the lawsuits fly from all those who didn't settle for chump change in the class action lawsuit.
How can a company not even know how to price its own product???
Its not like they were pricing horse training, or something else that they wouldn't know about.
I was in customer service for a long time. Sometimes you have to bite the bullet apologize and go above expectations. Take the guy back in February with his brand new model Y. He owns two other Teslas. His four-day-old model y steering wheel fell off while in traffic. Tesla straight up told him it "wasn't a defect." He towed it Tesla fixed it then charged his credit card for the repair that was under warranty. He had to call to get it reversed. I keep hearing how "amazing " Tesla is but more and more am seeing Tesla acting like other big corporations losing their way. I read that early on in the company this would have been handled very differently.:max_bytes(150000):strip_icc()/GettyImages-940234622-13516c53aeba43b5bebfda45c83106e7.jpg)
Tesla Settles Class Action Solar Roof Lawsuit for $6 Million
Tesla Inc. agreed Tuesday to pay $6 million to settle a lawsuit over its energy division's solar roof.www.investopedia.com
It’s good for the affected people but have to be honest in fairness this stuff happens in business. Musk admitted in 2021 board meeting the company made a mistake using a general formula to calculate installation costs and did not take into account more complicated roof structures.
They did give full refunds to people who canceled installations.
Of course now the question to be asked would be why for such an “upstanding” well regarded company did people who paid the inflated cost have to file a lawsuit and wait years for restitution.
I mean 6 million dollars is nothing to the company and everything to the people who purchased the product at an inflated price.
Tesla could have stepped up to the plate and made things right much sooner to these people
Seems like the problems revolved around the installation costs. Shingles can mask a lot of damage.
Wouldn't they know that happens regularly.
Seems ludicrous to me that they knew nothing about their job.
Besides stripping a roof down to trusses, resheathing and shingling it, doesn't cost $40,000 on a house, not even a large house.
Yes you are correct and wanted to point out to others that the explanation from Tesla is in the story I posted on the first page.
Here it is again https://www.investopedia.com/tesla-settles-class-action-solar-roof-lawsuit-for-usd6-million-7559313
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