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Tesla Stock in Freefall After Disastrous Earnings Report (finance.yahoo.com)
submitted 3 months ago by to c/technology@lemmy.world
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[–] 79 points 3 months ago (17 children)

The company missed Wall Street expectations, despite its core automotive segment generating just over $20 billion in revenue, up 23 percent from a year ago.

How the fuck did it make $20 billion? How the fuck did it make 23% more than last year? Who the fuck is still buying this shit?

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  • [–] 50 points 3 months ago* (11 children)

    As always, people have short memories, or just do not give a shit about ethics

    https://www.nytimes.com/2026/06/26/business/tesla-elon-musk-europe.html

    Tesla’s vehicle sales rose 77 percent from January through May compared with a year earlier, the European Automobile Manufacturers’ Association said this week. In May, Tesla sold 22,000 cars in Europe. That’s more than Ford, Nissan or Honda, even when including their fossil-fuel models.

    Many people seem to have put aside their personal feelings about Mr. Musk after Tesla cut prices for its entry-level models to levels that are competitive with comparable gasoline or diesel vehicles and inexpensive cars from China. In some countries, Tesla’s Model Y sport utility vehicles can be leased for less than 300 euros, or about $340, a month.

    “Once you go down the pricing scale, people pay less attention to ethics or morality,” said Matthias Schmidt, an independent analyst in Berlin who tracks electric vehicles sales. “Tesla’s product has become so appealing from a price perspective, it’s almost too good to refuse.”

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  • [–] 18 points 3 months ago* (last edited 3 months ago) (2 children)

    The people I know who bought one don't give a shit about ethics. They stayed away from them for as long as they were socially unacceptable, but as soon as the storm blew over they saw their chance to buy one.

    Just... a data point. My experience is that at least 20% of a population doesn't care about stuff like this. They care about their own social status, but not ethics.

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  • [–] 6 points 3 months ago (1 child)

    Targeting 20 percent of the population isn't the type of business model that puts your stock this far above all the established automakers though. The correction on the junk stock can't come soon enough.

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  • [–] 4 points 3 months ago

    I want you to be right, but I'm more skeptical. I see all over the place companies explicitly targeting a profitable subset: the biggest suckers of the available suckers. Higher margin, fewer whiny customers. Bonus points if it creates a cult-like fanbase (a lot of big brands manage to cultivate this).

    Saw a story where a company explicitly had a strategy of "increase prices by 10x, and it may scare off 90% of customers, but the 10% left will be a wonderful gold mine". Particularly shortages in the tech industry swayed a lot of folks that advocated for high-volume, low-margin to low-volume, high-margin.

    So if 20% are ride-or-die for Tesla and Musk, then it might be a decent enough move to double down on those 20%.

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  • [–] 33 points 3 months ago (5 children)

    As the old saying goes..."Ethics are a luxury that poor people can't afford."

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  • [–] 17 points 3 months ago (4 children)

    But they can afford a Tesla

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  • [–] 3 points 3 months ago (3 children)

    If your neighbor has an EV and you don't, suddenly you've decided that you're poor

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  • [–] 20 points 3 months ago (1 child)

    When I see people drive them, I wonder why you would buy such a thing.

    After a few years on this country's hole filled roads and stone paved streets, they start to break down and develop a distinct squeaking noise, indicating that the build quality is not good at all.

    Still, I think it's more of a fashion statement from vain people that will trade it for a new car in 4 years, so build quality does not matter. It says "Look, peasants, I have an imported american car. Envy me, you Peugeot driving scum."

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  • [–] 2 points 3 months ago

    How the fuck did it make $20 billion? How the fuck did it make 23% more than last year? Who the fuck is still buying this shit?

    Lots of Aussies, lots of Europeans at least. Why I've given up being depressed by my fellow humans, 10% are good, 10% are assholes and 80% don't give a shit.

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