I will feel a lot better when their stock price goes much, much, much lower. Sure they are down 40+% in the past 3 months, but they were WAY too high prior to that.
Their P/E should be in the single digits if they were like most American companies. Until I see that, I’ll know that they are nothing but a fucking chud memestock.
They’re still up 25% year on year.
That was an insane rally and crash though.
What’s going to be really funny, is when it becomes worthless.
See, most of Elon’s money is in Tesla Stock, stock that he manipulated by telling tall tales of colonizing Mars.
In order to buy Twitter he had to take out a loan for the money and use his Tesla stock as collateral. Now, the thing about that is, the stock is only able to serve this purpose because it’s worth so much. If it wasn’t, then Elon basically defaults on the loan.
This means he will no longer own Twitter, his bank will.
He’ll be forced to sell SpaceX to cover the loans.
Tesla stock was enormously overpriced anyway. The product is not that good or worth that much. In the very beginning there was a lot of disrupting the incumbents. For better or worse. Now it’s all worse.
Yeah, if you compare their P/E ratio to any other car company…it was and is just nuts. They are in the triple digits last I checked, while many car companies are in the single digits/low double digits.
It’s gotten a tad bit closer to reality, but still needs adjustment, IMHO. I think the price of the stock should be at about 1/10th of what it is at now…I think a lot of it has to do with people buying into Musk’s bullshit and whole lotta stans in the day trader manosphere.
But it has a real Gamestop vibe to me…
Expect another round of " incendiary device" burned down our “trucks”.
Insurance investigators may yet bring us some justice.
Are these pieces of junk for sale anywhere outside of Trumpistan? I travel all over the EU for work constantly and I’ve never see one over here, ever.
Cybertrucks aren’t street legal in stock configuration in Czechia, however I’ve seen one idiot on Facebook who bought one and paid about the same as the car on top of it to make it street legal. It looks even dumber lol.
Find pictures and share, please. I want to gaze at the monstrousity and laugh with schadenfreude.
He managed to make it even uglier.
It’s like sprinkling glitter on a turd, it’s still a turd.
Except, it isn’t glitter. It’s more like puking on a turd.
https://www.instagram.com/cybertruckvcesku/feed/
The whole profile is pure insanity.
I’ve never seen one in Australia. They don’t meet the ADR (Australian Design Rules) so they literally cannot be sold except for use on private land - a farmer could drive one around their field if they so desired. When asked about international sales Musk said he didn’t want to design it for a global market because that would “make the design worse” which is really saying something.
This article is from last year but still applicable. Given sales and events since then I think the title can be updated from “any time soon” to “ever”, and that warms my heart a little. https://www.drive.com.au/news/why-tesla-cybertruck-not-coming-australia/
So glad we don’t have the cyberfuck in Australia, the stupid massive pickups are bad enough.
The UK won’t allow them at all. Recently, someone imported one elsewhere in Europe. When they brought it to the UK, it got seized as dangerous. Even though it wasn’t even UK registered. I believe several other countries view it in the same light.
I’d actually be surprised if they even fit on a lot of European roads.
EU banned them from the streets, as they arnt safe i believe, it doesnt follow thier regulations.
Well, not banned explicitly, they just didn’t pass the safety regulations all vehicles must adhere to. Main issue is pedestrian safety, due to the sharp edges of the panels.
They are all over the place in Norway.
I don’t think they’re legal in EU, couldn’t pass the safety tests.
Makes sense.
Last I heard, sales were down 94% in Germany, so that means they are, technically, for sale in Germany. I think they’re very different than American ones though
Teslas are. Not Cybertrucks.
I see entirely too many of these pieces of shit in Vancouver.
The cybertruck doesn’t pass a multitude of safety regulations. And is therefore not street legal in the EU. But there are ways around that by directly importing it from the US. The Dodge Ram is not street legal in the EU either but has been making use of an importing loophole to get on the streets.
While the Texas Plate ‘HAIT 88’ seems like it’s fake, I feel that is implied by driving a Cyber Truck. He didn’t need to go through the trouble paying extra for that.
I saw one yesterday in the wild. It’s unusual for where I live, we’re not rich here, and being a blue state, we’re not stupid, either.
Surprisingly, it still had all of it’s body panels intact.
I want to hear a documentary, narrated by David Attenborough, about the wild Cybertrucks.
Unfortunately, you’ll need to settle for Whistlin Diesel for now.
Although, it was pretty entertaining in a Jackassian Park kind of way.
“As the Cybertruck sleeps, it is blissfully unaware of the approaching storm. If the thunder doesn’t wake it soon enough, it may succumb to its greatest existential threat: wetness. In the bushes, a Patriot rattles a paint can.”
Thanks. That’s brilliant!
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I’m not interested in a Mustang, but I am interested in doing an EV conversion at some point. I do appreciate that Ford is selling the Mustang EV transaxle as a create engine.
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ioniq 5, ive seen that alot.
If I ever get an EV I’ll just get the Mustang.
That’s not a real Mustang, is it?
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Have they tried covering them in garlic?
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despite claiming
I claim myself the Glorious Leader of the Solar System. I tried to demand the Sun to fry a little less but… I’ll try again later.
JAFFA KREE!
I’m no scientist, but I hear Fauci is. …bet it’s his fault.
Has any other car manufacturer ever had a similar policy of not accepting their own vehicles as trade-ins?
What is that trade-in? You give your old car to get a discount for a new? How does it work? Why does it work? I do I understood this completely wrong?
Works just like that. Dealer takes your trade-in, usually paying you a decent amount less than you could get selling it yourself (this is a spot where you have rk make a time value for money decision). You apply that cash to your new car you’re buying from them.
The dealer (if they are good) cleans and fixes any issues with the trade-in and either sends it to auction or sells it on their own lot.
This process is so ingrained in the process here in the US that if you look up price estimates of used cars online, they will give you both a “dealer trade-in” value and a “private party” value.
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Yep, really depends on your personal feelings around your money.
I am generally a used car kind of guy, but this is how trade-ins work. For some people, they’d rather just not have to deal with selling a car even if they could get a lot more for it. The dealerships provide them that service at a significant cost. 🤷♂️
That’s right. Where I am it’s a tax scam to support dealerships.
If you trade in a $10k car on a $20k one, you pay sales tax on $10k. If you sell your car to someone else for $10k and then buy the $20k car, you pay sales tax on $20k and the new owner of your car pays sales tax on $10k.
Why would car manufacturers want their old cars?
Not manufacturers, dealers. A legally required middleman in most of the US. They’ll take your $10k car for $7k and try to resell it for $12k. Even if it gets negotiated to a fair price, they still get the opportunity to upsell used car buyers into extended warranties and maintenance plans.
Tesla is a little different in that they do not have dealers, so they instead do no-negotiatiation sales on their used cars. It’s good for them because they can do the same buy low sell high deal. But when the model is not selling, they’ll have to buy it and sit on that asset for months or dump it at auction.
It usually doesn’t work quite like the example above. Using that example…the dealership will only give you $4k for your old car, even though it’s worth $10k. They then turn around and sell it for anywhere from $8-12k, netting themselves a tidy profit on the vehicle now for the second time.
The convenience makes this worthwhile for most car buyers, even if they could get another few thousand if they did everything themselves and paid full taxes. Dealership of course loves it and laughs all the way to the bank.
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Interesting, wonder how the economics work for the different players. Also, tangentially:
A decade or two ago, a lady working in dealer finance lamented how internet bank rate comparisons had really rained on their parade
“I want this rate”, she explained customers would say, pointing at a printout or their phone and expecting a match.
Imagine how fat those margins would’ve been when they knew a customer hadn’t yet called around researching rates!
Good point, this is fairly common as well. I’d recommend avoiding financing entirely if at all possible because of this, simply not worth it for a car unless it’s the only way you can get one that’s in decent shape.
If you have to finance, often times you can get a much better rate from your local credit union instead. Use that to make the purchase, instead of the dealer’s financier.
It’s what Game Stop (and a myriad of other “buy, sell, trade” stores) does with used games and consoles but with cars. eBay exists but most people don’t want to go to that much trouble.
Because they can (usually) resell them for more than they give you for it.
Usually. They might have trouble with Teslas.
Because they lowball you
What? Where is that legal? You should be paying tax on the full purchase price of the new vehicle. In every transaction I’ve done, the trade-in is simply treated as part of the down payment or the full payment if you aren’t financing.
https://www.motorenn.com/vehicle-trade-in-tax-benefits-by-state (not the biggest fan of this but can’t find one I like better)
The same thing applies to houses and many other large purchases. Also most states that offer a trade in discount also let you sell the car private party (or to another dealer) and claim it on your taxes. You just have to file more paperwork vs the dealer figuring that out for you.
Huh, TIL.
Did you think people threw thier cars out when they bought a new one?
No. Dealerships might have said “we have too many EVs right now” to you if you came in with your Nissan Leaf when there was an over-supply. But the idea that the entire manufacturer is blanket not accepting their own car, that new.
No other major manufacturers sell directly to customers so no. Dealerships don’t care as long as you’re buying something. Many cars they take as trade wind up going straight to auction.
I mean do they care a bit. If it doesn’t sell at auction or goes for basically nothing they could lose whatever value they gave to you for trade in.
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As a cash buyer, I went through my last dealership purchase and ordered a car with the $4k “warranty” scam plus accepted their scammy financing. Closed the deal and drove away with my car, then the next day I called and cancelled the warranty for a full refund and took my cash and paid off the loan in full.
It’s a hassle, but you have 3 days to cancel all that scammy junk with no recourse. That’s what it took to get the cash price I wanted.
I can’t imagine a court in the country seeing a problem with the call and cancel trick. Although,
permission to moralize?
personally, I want to get a great deal in a way I’ll feel good about… maybe have a story to share with fellow misers.
But I do put myself in the business’s shoes and I think it’s fair for everyone to walk out knowing how good of a deal they got and how much money they made.
And when you’re inside the building and they run their numbers and based on that they shake your hand, to go outside of the building and reach back to change the numbers–in a way that’d make them take back the handshake–it exceeds the level of cunning I’d want to be in a negotiation.
Also Lemmings, I promise I am not the parent commenter’s mother. Someone, take my soapbox before I make someone else want to log off! 😇
Plus they have their big book that shows current values and trends with used vehicles (like KBB on steroids) so just a cursory glance at your trade-in to ensure the transmission isn’t falling out and dragging on the ground should be a safe bet that they’ll be able to recoup most of the book value on the trade.
Vehicles so shit even the manufacturer doesn’t want them
Love to see it! Good time to post my recent Tesla story: family member passed away a year ago and I got their car - older Tesla Model S that was in mint condition and had free charging for life. So I had a free car and could essentially drive it for free (ignoring insurance). Lot of nice features on it, but was clear that Tesla doesn’t do the basics of car building very well. Bit noisy, a rattle here and there, exterior trim pieces that are a little loose, and window seals that drip when you go through the car wash. Not even going to go into their software, which is pretty shitty. Basically a lot of things that look nice at first glance, but kinda janky when you look more closely. Nuts that that was a $100k car when purchased new - doesn’t seem to fit with reality. Anywho, I listed it for a while on Craigslist because I wanted off of the Tesla rollercoaster (for loads of reasons - Elmo, future stability of Tesla which is unknown, and having the weight around my neck of a car that I might not ever be able to get rid of in the future). Played the Craigslist game for a little while and then decided because of the tariffs coming to just go the trade-in route. Went in and traded it for a Mach E, which so far, I’m liking. Seems like a better-made car all around, is just as fast as the Tesla, and has more bells and whistles for half the price. The Ford dealership was starting to look like a Tesla dealership - the salesman said that loads of people were doing the same thing I was, including him - he had one but still had a loan to pay off but he wanted to swap his as well. He said he didn’t want my car but was willing to take the trade in to make the sale, so worked out for me. What was also great is that the Hands Off protest was happening the same day right in front of the dealership (Tesla was a block up), so we listened to the sweet sounds of shouts and car horns while we did paperwork. Good stuff.
Should also note that with the exception of the Cyberdumpster owners (probably beyond help), just remember that there are lots of Teslas on the road and each of those drivers have a different story. I’m all for civil disobedience (it’s definitely needed right now), but many of those owners just aren’t in a position to sell/burn/destroy/dump their Tesla. Cars are expensive, and now more than ever, we’re probably going to need to drive them as long as possible to get our money’s worth out of them. I was in a lucky situation with mine so I could get rid of it, but just have compassion for those who can’t.
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Oh, I’d like to hear more about the Mach-e. I’ve only seen a few, but they look decent enough.
Go test drive one. Just don’t bring your checkbook.
I was part of the Tesla Takedown and can confirm there were a lot of tesla drivers honking and supporting us. 100% of the cyber-dump-truck drivers were hateful.
It was clear who fElon was when the Cybercucks were actually for sale (for those that didn’t already know, or suspect he was a lying assmonkey years before).
We had a single CyberTruck honk at us Saturday. It was a surprise to be sure.
Congrats on getting the Tesla off your hands! You also make an excellent point about empathy.
I’m pretty sure I watched a very persuasive infomercial from our president on why we should buy them.
This is obviously due to the liberal media brainwashing consumers not to buy them.
OR…
It’s produced by a Nazi.
It could be that this vehicle has averaged a major recall every 60 days since release.
Gas pedal detaches itself for spontaneous fully automated joy rides.
It looks like what happened if oops all polygons fucked a roll of tinfoil.
It rusts, the panels fly off, and if you take it through a car wash it’ll total it.
It hasn’t lived up to any of the hype or range estimates stated.
The trailer hitch is held on by the polycarbonate (plastic that went to college) frame, so enjoy causing a massive traffic fatality while towing (even within the recommended towing capacity specs).
It’s 14 times more dangerous than the Ford Pinto which was on the market 3x longer and became synonymous with explosions.
Lastly, it’s become a way of explicitly telling the world I have a $100,000 truck and a $10 brain.
You forgot that it looks so much like a dumpster raccoons will try to break into it
plastic that went to college
Thanks, I’m really appreciating the afterlife
He’s not a Nazi, he’s just a far-right, authoritarian, ethnonationalist, pretending to be a champion of the working class.
Wow. Post-production quality control. Such dedication.
I bet detachable gas pedals make them easier to replace.
Probably saved a lot of money in design by not having to pay a bunch of liberal artists.
Those are sacrificial anodes. They’re supposed to rust. The panels are ablative hull armor designed to mitigate damage to the unibody and distract rival drivers, thereby assisting in escape. It’s nice of them to incentivize water conservation.
Gotta keep the other car companies guessing.
That’s a randomized defensive countermeasure.
No risk. No reward. Being this awesome comes at the risk of being a danger to oneself and others. That’s a sacrifice many drivers are willing to make.
The dancers at the club really like it. I think one of them is falling for me.
(Just guessing that’s how that conversation goes)
Many Cybertruck owners reported trying to trade-in the truck for a new vehicle
It only came out in November 2023! They’re already trying to trade it in? Seems like that’s it’s own sign of problems.
Some owners who have had their trucks in service for extended periods of time
NOVEMBER 2023!!! Nobody has had a one of these dumpsters for an extended period of time!
Thats hilarious
Nobody has had a one of these dumpsters for an extended period of time!
I mean, yeah, okay, but even a few weeks is an “extended period of time” for a brand new car to be in service.
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It’s pretty common for wealthy people to trade in their car every year or two, keeping in mind that a cyber truck is 80k+ the demographic is people who can afford to always have a new car.
It only came out in 2023, and it’s already been recalled 8 times.
In a few decades we’ll get a new Back to the Future movie.
Doc, you made a time machine, out of a cybertruck?
If this baby hits 88mph you’re gonna see some serious shit…fall off.
My wife and I are in the market for a 3rd car because our oldest is driving to community college most days, leaving us down to one car between us. She wants an EV, so we’ve been shopping the local used lots. They all have DOZENS of Teslas, and they’re very eager to sell them.
Imagine fire bombing Teslas and keying them just because you don’t like Musk. How sad and cult-like is that. Domestic terrorism must be worth the 20 year sentence just to hurt Musk indirectly but at the same time, most likely harming your fellow Democrats who drive the ELECTRIC VEHICLE. The man who helped popularize the EVs is now your enemy. The same EVs that Biden pushed a mandate for.
That is a cult. There can be 2 different cults, ya know. The one you’re in, and the one you despise.
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Not everyone who opposes Trump and Musk is a Democrat, especially on Lemmy. Many of us are leftists who despise Democrats, just less than we despise MAGA fascists.
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Don’t think a lot of cybertrucks are being driven by those on the left, they weren’t released until well after Musk showed his true colors. Every cybertruck owner I’ve personally encountered has been solidly MAGA.
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I surprised you didn’t bring up trans athletes to defend your opinion
What does Elmo’s taint taste like? I bet it’s salty…LOL
Cry more.
You’re gay but not in the fun way.
Imagine being such a bootlicker billionaire fascist worshipper that you can’t understand what is happening.
I’d fuck both of you. How can we get you two to get along.
I’d be hurt if you actually knew what fascism is. Sucks that you’re not successful enough to be a billionaire but begrudge those who are.
No one is successful enough to be a billionaire. Accumulating that amount of wealth is not a result of hard work, it’s a result of exploitation. Begrudge all billionaires
No one is successfully a billionaire.
Imagine selling EV’s to a group of people then surprised Pikachu facing when you turn your back on them and tell them they are infected by empathy and a “woke mind virus.”
Imagine being so full of yourself that you Nazi salute away your entire international sales because guess what, the rest of the world doesn’t think it’s funny either.
Imagine.
