Tesla warns that a federal probe into whether it exaggerated the range of its cars may lead to a ‘material adverse impact on our business’
fortune.com
Tesla warns that a federal probe into whether it exaggerated the range of its cars may lead to a ‘material adverse impact on our business’::Earlier this year, Reuters reported that Tesla had created a special “diversions team” to avoid dealing with complaints from customers about their vehicle ranges.
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I get where they're coming from.
If there's a probe that results in no substantial findings, it would likely still impact sales for some period of time, simply because there was a probe. In that case, Tesla's concern is justified.
If, however, they do find that Tesla is exaggerating their range, then I hope the lawsuit is spectacular and expensive.
My parents have a Tesla (they bought it used), and its range is shite.
... which is why there won't be a probe unless there are findings first. And from the sounds of it, there are findings.
If Tesla really did create a "special team" to deal with this issue, then that means it's very much a real issue. Reuters is a reliable publication - they would have gathered evidence before reporting that.
Just goes to show that you should not create a situation where a probe like that is justified. This is all Tesla's own fault.
I think Tesla is above wild swigs in public perception. You’re likely already in a camp.
On the market, like most companies, they're most definitely not above wild swings in public "perception"
They've already been hurt from certain antics.
Tesla had a 28% favorable view in January 2022.
It was 13% in January 2023.
https://www.forbes.com/sites/alanohnsman/2023/01/12/teslas-brand-is-tanking-survey-finds/?sh=671009552b78
The future is wild. Imagine the richest man in the world destroying his companies because he can't stop himself from Nazi posting.
I think there's a bit of a real anti-musk sentiment that is partially real and fair and partially extremely overblown.
Musk isn't a great guy, but I can't say I know a single billionaire that is. I have many friends who own Teslas and by all accounts they're great cars, I just went and checked out a new Model X my friend purchased and it looks great, feels great, sounds great and is arguebly better for the environment then most ICE cars. I wanted a Tesla for a long time too because it was the only viable option for quite a while and without a doubt pushed other companies to try and catch up, which is a good thing without a sliver of a doubt it my mind.
I don't know if I'd say Musk is a Nazi, but he definitely says some idiotic shit and outright lies for his own gain, but again that's certainly not a Musk-specific problem. We had fucking Donald Trump as president.
Edit: guess I'm in a ranting mood
It is honestly humorous how much Musk has managed to thoroughly destroy his reputation with the centristy crowd, Tesla was beloved as was SpaceX for genuinely pushing the envelope for what American companies could do, most of that praise should go to the actual engineers making those things possible. You'd have 'muricans coal rolling Teslas and actively destroying them out in public, now the right sorta like Musk because of how he took down a lot of the censorship at Twitter (which... Honestly I am torn about, because I am a firm believer in freedom of speech, but it's a private company yada yada don't want to get into that aspect it's a whole other can of worms) and the Left (who already weren't a fan of Musk for the most part) and the centrists absolutely hate him.
I don't know what calculous he thought he was doing, probably something about his bottom line and how the left is much more pro-tax the rich whereas he can fleece the right much easier with the, "one day you could be insanely wealthy like me" line.