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24% of Tesla Model 3 orders have been canceled, analyst says • CNN
Jordan Valinsky:
<p>Cancellations for Model 3 orders have picked up in recent weeks. Refunds now outpace deposits for Tesla's new mass-market electric car, according to Needham & Co. analyst Rajvindra Gill. Tesla disputes that.

In an analyst note delivered to clients Thursday, Gill cited extended wait times for the car, the expiration of a $7,500 tax credit, and the fact that Tesla has not yet made the $35,000 base model of the car available for purchase yet.

About one in every four Model 3 orders is canceled, Gill said, double the rate from a year ago. Customers have to put down a refundable $1,000 deposit to reserve a Model 3, then pay another $2,500 to choose their specific version. They pay the rest when the car is delivered.

The wait time for a Model 3 is about 4 months to a year, and base model customers could wait until 2020, Gill said.

A Tesla spokesperson denied that Model 3 cancellations exceed new orders. The spokesperson also said the wait times that Gill cites are outdated. Tesla's website currently lists wait times from 1 month to 9 months.</p>

There are signs of stress at Tesla, and none of them being leavened.
18 hours ago by charlesarthur
RT : The Model 3 now parks itself with 'Summon' updates >> via >>
AI  Tesla  software  from twitter
6 days ago by TomRaftery
Hell for Elon Musk Is a Midsize Sedan - Bloomberg
The tent sufficed. “I think we just became a real car company,” Musk wrote in a July 1 email to employees announcing that Tesla had made 5,031 Model 3s the previous week. Even so, it’s unclear whether Musk has put Tesla on a path to lasting greatness or just staved off collapse. The company is the most shorted U.S. stock, and a higher percentage of Wall Street analysts give TSLA a sell rating than for all but one stock on the S&P 500. The story of Tesla’s sprint to release the Model 3, based on interviews with 20 members of Tesla’s design and engineering teams, suppliers, and dozens of current and former workers, is a case study in brilliant design and unbelievable hubris.
tesla  automotive  fail 
6 days ago by dancall
Opinion | What Elon Musk Should Learn From the Thailand Cave Rescue - The New York Times
By contrast, Silicon Valley moguls seem to favor spending money on improbable but impressive-sounding long shots. In 2010, Mark Zuckerberg, the chief executive of Facebook, donated $100 million to New Jersey schools as part of a multiyear plan to improve them. The centerpiece of the plan was teacher evaluation and charter schools, but it didn’t work well. Some aspects of the plan even made things worse. Education is a complex topic, and making a lot of money in tech is not a qualification for solving educational problems.

Silicon Valley also tends to ignore problems in its own house. Jeff Bezos, the founder of Amazon, has declared that space exploration is one of the main things he should spend his money on. But poorly paid workers in Amazon warehouses, who work under grueling conditions, may have other ideas about how Mr. Bezos might best spend his money.
facebook  amazon  tesla  fail 
6 days ago by dancall

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