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Tesla Cybertruck values plummeting
- Thread starter neptronix
- Start date
Ya, I heard SpaceX currently has loads of them, sitting around (until they can find a use scenario for them?). Evidently it's a Elon thing-- selling the garbage from one of his companies to another one of his companies.Tesla finding itself having to sell a good % of them to it's own companies
I think the consumer market is having a tough time finding a use case for them. Not so useful as a truck? Also not really working out as a babe magnet. What kind of woman would hop in one of those? Probably not one you would want...
Too bad. What the multitudes are actually clamoring for is that $20,000 barebones utilitarian e-truck (Slate).
Yes, the only application i can see is that they're great at hauling. Not very efficient, so we're throwing out some benefits of the drivetrain.
Mostly, i find it offensive from a design standpoint. It's garish and poorly thought out. An ideal truck design is about function over form. This design didn't take into account either priority.
They did angular cars so much better back in the 70's. It's as if no prior art was studied..
Wedge Wonders - the Angular Era in Automotive Design
Societally i feel like the vehicle carries a variant of the negative cultural curse as Hummers in the 2000's. The CEO of GM at the time was also also kind of a villain himself.
Mostly, i find it offensive from a design standpoint. It's garish and poorly thought out. An ideal truck design is about function over form. This design didn't take into account either priority.
They did angular cars so much better back in the 70's. It's as if no prior art was studied..
Wedge Wonders - the Angular Era in Automotive Design
Societally i feel like the vehicle carries a variant of the negative cultural curse as Hummers in the 2000's. The CEO of GM at the time was also also kind of a villain himself.
offGridDownUnder
Power poster
"Tesla Cybertruck finally achieving it's real value"
FTFY
FTFY
Matt Gruber
Minor legend
was promised at $39.999
came out at 79k
I think it would have sold lots better at 39k
came out at 79k
I think it would have sold lots better at 39k
OlderGiantFan
Regular
Some big names are dissing the spacex ipo too. Basically it's just rolling all elon's failing entities into one fat Pig. Spacex made a lot of money because it had insider contracts with nasa and was the first to cash in on the satellite internet market. It was a private company then of course, the profits going to musk and "whoever" held stock in the company. Being private though, that's none of your business.
Now nasa money is drying up and competition is getting serious it's time to dump in on the public market. About 97% of companies in the US are privately held, these are the really profitable ones. The publicly listed ones are a real mixed bag but at this point in history all are grossly overvalued. It's easy to see where this overvaluation comes from too, and it amazes me why it's not spoken of across the web?
The rest of that $40T comes from pension funds all over the world. 1/4 of all Australian superannuation for example is invested there. Because this money is retirement money it grows in aggregate every year, Every year it's hunting a home in the US and as it does it bids up the price of whatever is available on the stock markets and property markets. It's a ponzi scheme basically, what else could you call it? The current withdrawals are paid for by an ever increasing influx of new money.
The stocks are only worth more every year because huge pension funds buy them, off other funds etc, at a higher price. And round and round it goes. Naturally the pension funds know all this but what do they care? They get paid by shuffling your retirement money back and forth, not by ensuring it will be there in 10 or 20 years when you want to start spending it.
Now nasa money is drying up and competition is getting serious it's time to dump in on the public market. About 97% of companies in the US are privately held, these are the really profitable ones. The publicly listed ones are a real mixed bag but at this point in history all are grossly overvalued. It's easy to see where this overvaluation comes from too, and it amazes me why it's not spoken of across the web?
The rest of that $40T comes from pension funds all over the world. 1/4 of all Australian superannuation for example is invested there. Because this money is retirement money it grows in aggregate every year, Every year it's hunting a home in the US and as it does it bids up the price of whatever is available on the stock markets and property markets. It's a ponzi scheme basically, what else could you call it? The current withdrawals are paid for by an ever increasing influx of new money.
The stocks are only worth more every year because huge pension funds buy them, off other funds etc, at a higher price. And round and round it goes. Naturally the pension funds know all this but what do they care? They get paid by shuffling your retirement money back and forth, not by ensuring it will be there in 10 or 20 years when you want to start spending it.
gromike
Power poster
With all that said, I still wouldn't mind buying a Cybertruck. But that would be a dime on the dollar kind of thing. The angle grinder and welder would come out and I would make a camper out of it. A Cybercamper 
I think more people could tolerate the cubist nightmare for $50k.
I wonder how the slate trucks will go;
1. they look normal
2. $50k starting?
SpaceX? here's my thoughts
Yeah this is a big negative of mass index fund adoption..
I wonder how the slate trucks will go;
1. they look normal
2. $50k starting?
SpaceX? here's my thoughts
Yeah this is a big negative of mass index fund adoption..
Pretty much what I said above
But now that SpaceX is going public, since it will be listed on the exchange, doesn't that mean it has to be bought by index funds? And by extension, our retirement funds? So we will be owners of SpaceX stock?
OlderGiantFan
Regular
Yes, if you have money in such funds. You can always call up your fund and demand to have you money in the safe spaces, government bonds etc. You lose on inflation of course but not in an all out market crash. Crashes are predicted all the time and rarely happen, but they do happen.
OlderGiantFan
Regular
Why not a Rivian if you want to join the EV camper club. At least it has some style.With all that said, I still wouldn't mind buying a Cybertruck. But that would be a dime on the dollar kind of thing. The angle grinder and welder would come out and I would make a camper out of it. A Cybercamper
Here is the sub, seems the fanboi take pictures of every one they spot and start a new thread. Funny people
When you own a Rivian, all of life becomes an "Adventure"
Went to the car wash, came home with a kitten
My morning adventure didn’t turn out as expected. I went to get coffee and a car wash, as is the Saturday routine.At the car wash, they stopped me as I was on the automated track to enter because a kitten (that they were trying to keep out of the main road) had run under my truck. While they were trying to get him out, he went through a hole behind the rear wheel and inside the truck (below the bed, but on top of the panel covering the underside of the truck). I did disable the auto-kneeling, just in case.
After spending a while holding up the line trying to get him to come out, we had folks back up enough for me to exit the line and pull into a vacuum bay to continue to try (unsuccessfully) to coax him out.
The adventure continues
www.reddit.com/r/Rivian/comments/1tlsx3j/went_to_the_car_wash_came_home_with_a_kitten/
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Yep, this time it's massive, good that at least some people are raising concerns. Looks like an ongoing test - how much can Elon (and few others) get away with?. Or maybe some form of competition for psychopaths?
Gruesome
Regular
I was worried about that as well. Luckily, the index contribution will be very low, at least initially, because it is proportional to the value of the stocks publicly traded, not the total capitalization. For SpaceX that will be only 5% of the total stock, ~$85B, giving it about 0.13% overall weight in the S&P 500. But eventually, when current pre-IPO stockholders will be allowed to sell, it absolutely will be a giant wealth transfer from us to them, voluntary (by individual buyers), and including forced buys by index funds.
What a trainreck of a train of thought.
97% of companies are private because they are largely a guy with a truck and a ladder or a small shop or a dentist office. Not because that's where the "profits" are. They are just small operations.
Like 75% of all GDP generated from all companies comes from that 3% that are publicly listed.
The latter point is not true. Check these statistics. Small business still generates a huge chunk of GDP!
See the data behind America's small businesses.
I call them the fortune 5 million. But about 32 million businesses are currently registered in the USA, so that's understating the size.
offGridDownUnder
Power poster
That's wrong thinking.
You will be the victim of SpaceX stocks. You have no control over what happens.
Gruesome
Regular
Good point; the stocks being sold in the IPO will be Class A shares, with one vote per share. The insiders are holding Class B shares, with ten votes per shares. It gets even more perfidious: whenever a Class B share is sold or transferred in the future, it gets automatically converted into a Class A share!
It gives us a bit of insight into how the sausage is made and it's scary how the crooks coordinate and cooperate at many levels in fleecing Joe. Is there any institution in the whole chain that is not a part of the extraction machine and could actually protect people's retirement funds?
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OlderGiantFan
Regular
This post is rubbish and is based on a very shallow understanding of the reality of how the world works. I ran a small business, Private, for 25 years and did quite well, retired early. That's where the profits are, not in some 9~5 where you work until you're 67 and your future retirement is placed in companies like the soon to be released Space-X
Yes, small one man businesses, and also the local gravel business, the local cement works, the supermarket, the electrical supplier, tens of thousands of small companies, casinos, hotels and motels, all the decent restaurants with their staff. All the way up to the BIG ones like Cargill farming and Mars confectionery, these are all private and these are where the profits are.
The listed chain restaurants, like McDonalds, that sell dog food, are where you are encouraged to eat btw. Naturally since a chunk of your retirement savings is no doubt bound up in them. Profits come from dividends, and most listed companies don't really pay a dividend now, that should tell you something? McDonalds is actually lavish, paying a dividend of 2.5% on average
Tesla pays no yearly dividend and has never declared or paid a cash dividend. A sham.
Now go back to sleep.
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OlderGiantFan
Regular
Sorry EV fans, more bad news.
Ford May Sales Plunge -13.6%
The declines were broad-based, reflecting ongoing weakness in EV demand and continued portfolio shifts away from certain lower-margin vehicles. EV sales fell nearly 44% during the month, while hybrid sales declined 16%.
Among key nameplates, Mustang Mach-E and F-150 Lightning both posted declines of roughly 45%, while Escape sales fell more than 80%. Offsetting some of the weakness, Bronco, Explorer, Maverick, Transit and Heavy Trucks all delivered year-over-year growth. Ford does not produce an EV version of the Maverick, nor does it sell a battery-electric Bronco.
I think it's clear to say the "Market" has spoken. And even with higher prices of gasoline and diesel, people are done with the rechargeable battery car. Are e-pushbikes a good transition? Absolutely, and that's about where the technology reaches it's practical limit. How did we get to where we are with the EV though? Elon Musk is much to blame, his smooth techy talk wooed a nation and then the world into believing it was a good idea.
Ford May Sales Plunge -13.6%
The declines were broad-based, reflecting ongoing weakness in EV demand and continued portfolio shifts away from certain lower-margin vehicles. EV sales fell nearly 44% during the month, while hybrid sales declined 16%.
Among key nameplates, Mustang Mach-E and F-150 Lightning both posted declines of roughly 45%, while Escape sales fell more than 80%. Offsetting some of the weakness, Bronco, Explorer, Maverick, Transit and Heavy Trucks all delivered year-over-year growth. Ford does not produce an EV version of the Maverick, nor does it sell a battery-electric Bronco.
I think it's clear to say the "Market" has spoken. And even with higher prices of gasoline and diesel, people are done with the rechargeable battery car. Are e-pushbikes a good transition? Absolutely, and that's about where the technology reaches it's practical limit. How did we get to where we are with the EV though? Elon Musk is much to blame, his smooth techy talk wooed a nation and then the world into believing it was a good idea.
MODERATOR NOTE: We don't do direct attacks on other contributors here.
The best argumentation and debate happens at the top of the triangle. It just degenerates the further down you go.
OlderGiantFan
Regular
Understood, my apologies, post amended.
Oh whoever bought Ford's EVs was already holding the bag; i hear those things are your typical American half hearted EV and really poorly engineered. Nightmare to own.
Discontinuing incentives in 2025 didn't help.
End of ZIRP 'after' covid didn't help.
The last couple years of stagflation also aren't helping, given that EVs are still premium priced.
No company in the USA has bothered to roll out some value menu options for these times. Remember when the objective was to make the EV cost as much as a gas car? not so much lately..
The only interesting EVs on the market are aging Tesla models. The typical Japanese/Korean stuff is pretty blah.
Sad state of affairs compared to the EV optimism of the late 2000's to late 2010's
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only if you elliminate all Chinese cars. Otherwise Tesla looks blah, too.
(and people are buying them (BYDs, etc) here not out of EV enthusiasm, but because of reasonable price and quality - even without govt incentives they're more affordable than western ICE cars).
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RunForTheHills
Regular
My understanding is that the Ford Lightning was mostly bought by commercial fleets so they could check a box. The company i work for bought one and it hardly gets used at all. I am not sure they even still have it as they have bought other, more capable commercial EVs recently.
