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Tesla’s in its flop era (www.theverge.com)

submitted 7 months ago by Stopthatgirl7@lemmy.world to c/technology@lemmy.world

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When Tesla releases its first quarter earnings this afternoon, the company’s CEO Elon Musk will field the usual questions about new products, new factories, and progress toward its futuristic vision of self-driving cars and robot workers. But Musk will also face increasingly urgent questions about its current state of affairs — and why everything seems to be going to shit.

Earlier this month, the company reported its first year-over-year sales drop in four years, a sign of rougher waters ahead. Tesla’s stock has fallen more than 40 percent since the start of the year, including a 13 percent drop in the last week. The company laid off over 14,000 employees last week, 10 percent of its global workforce — which could end up being closer to 20 percent when all’s said and done, according to Bloomberg. Today’s earnings report is expected to include Tesla’s lowest profit margins in six years, a sign that rampant price-cutting continues to exact a toll.

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[–] OpenPassageways@lemmy.zip 4 points 7 months ago* (last edited 7 months ago)

Yeah, this is my dilemma. I have heard positive things about Ford and GM in regards to them making it easier to skip the dealership, so that at least addresses the convenience factor. Another factor in wanting to avoid the dealership is that I don't trust their business model where they sell you a car that they want you to bring in regularly for maintenance. I'd rather buy from a company that doesn't see vehicle service as a revenue opportunity. Does that apply to Tesla? I'm not sure, but I know that's how the traditional dealership model works so it's hard to trust those companies.