Tesla Talk

Holy moly! 41 Model X's dropped into inventory overnight.

Funny thing is, they seem to be left hand drive which I can't imagine is very practical for UK and Irish markets (cars coming from Southampton it says).

Lot of rejects from Europe I'd say.

Maybe the cost of living and interest rates are really starting to bite even those with deeper pockets!

Tesla have pulled S and X Right hand drive cars; people on Tesla Facebook page who have orders are very annoyed. They got a message saying that X or S no longer available in RHD; same in all RHD countries.

They probably reduced the SC rates across Europe yesterday to get some positive publicity out before this news broke today.

Tesla are screwed, it's funny reading the OP of this thread from 4 years ago, poster got it spot on regarding Elon, the self driving malarkey, the Tesla brand ,the fantasy cybertruck and the big car companies.

Hard to see what's going to happen here...

I can see many people opting for a M3 or MY with the 2k credit. Could have the knock-on effect of higher demand and reduced availability for the smaller cars.

I also see many people annoyed enough to sell the M3's that they had while waiting for the more expensive car order to be fulfilled and never touch a tesla again. This could have the opposite effect

Tesla cost-cutting isn't a good look one way or another

Would anyone honestly be tempted to buy a LHD in a right road driving market?

Can't see it being safe or practical. Not to mention the mad cost of the X and S.

I wonder what Tesla are NOT saying about this decision.

Not quite, rather the opposite 😁

In the almost exact 4 years since the post, the TSLA share has gone up by about 1500% 😮 In other words, if you had not bought the cheapest Tesla for sale in Ireland back then, but rather invested the money in the share, you would be a millionaire now.......

Tesla has the highest margin in the industry by a landslide. Tesla are likely this year or next to make the best selling car in the world (not EV, car!). The Tesla plans for total production numbers have pretty much come through and Tesla is on a direct path to producing more cars than any non-Chinese company. Surpassing giants like VW and Toyota. Tesla have the guts of a million cars in north America on the road that can fully self drive (using beta software) under almost any circumstances, Europe is expected some time next year (driver is still responsible at all times, so just level 2 by definition though)

Their plans for production might be coming through, but what’s clear in the data, for the past few months (and for the first time ever), Tesla have a very obvious demand problem - they’re producing more cars than they can sell.

What’s even more stark, is that the recent mid April price cut hasn’t nearly created as much demand as expected.

So - More price cuts, or cut production?

Tesla aren’t building these LHD orders because they don’t want to compound the problem further. Buy a 3/Y or fu€k off!

They are now producing just 1.5 viable models, with the Y being the biggest competitor for the 3.

even if another model was announced this evening, you won’t be driving it for a few years. The market around Tesla is evolving far quicker and faster than Tesla are.

tesla announced the 3 over 7 years ago and the Y over 4 years ago. Everything since has just been a distraction.

well it’s quite literally a free market - people don’t have to buy the product if they don’t want to, and there are hundreds of other options.

Looking at new model S or X registrations in Ireland:

2018:120

2019: 85

2020: 56

2021/22: 0

They haven’t delivered a RHD car for 3 years. i know people love to talk about the Tesla margin on these larger cars, but maybe it just wasn’t in their interest to build them. Worldwide S/X deliveries in Q1 were just 2% of total. These models are literally in the noise level, even in LHD markets. Tesla simply decided to not compound matters by having to order RHD parts.

Q2 delivery growth % and margin levels will tell one heck of a story. The share price is built upon continued 50-60% delivery growth, but 30-40% seems more likely now, and in Europe e.g deliveries actually fell slightly in Q1 v Q4.

from an analysis perspective, I still think Tesla seems hopelessly overvalued still. falling margins (but still high). falling demand. increasing production.

as an aside, I think anyone expecting the cybertruck to get homologated to Irish roads, never mind at a sub €90-100k price, is probably dreaming.

@sk8board - I'd say the Model X / S are halo cars and have been for quite some time. They show that Tesla is still top of the class, even though these cars are now old. Model X - a huge 7 seater - as fast to 60 as a Formula 1 car, LOL! They contribute nothing materially to Tesla's bottom line. And your figures back that up, 3k sold in RWD 3 years ago. Would probably be no more than 2k now if they were still for sale

And I'm not sure why you are hung up about Tesla effectively only having 1.5 model for sale? It probably is only a one horse show with the Model Y at the moment. It seems to work for them. Giant economies of scale doing that, massive demand world wide and huge margins as they can make these cars cheaper than anyone else, despite batteries being bought in largely from Chinese companies.

insurance on LHD is not always straightforward here either

I was in the Sandyford SC this evening and overheard a conversation between a sales agent and a customer where the customer was laughing at the idea of buying a LHD Model S and the sales agent claimed that they had received several orders already today. He seemed dubious about that himself. I can only imagine they were bought by people who are only living in Ireland for a few years and plan to return to a LHD part of the world.

A pal of mine always buys a LHD car, he has been living here for about 30 years but cannot get used to driving a RHD car..😊. He does go back home to Germany regularly but spends most of the year here. He reckons because his driving here is almost all rural and in Germany is mainly cities and motorways, that it's safer that way.

Good points.

im not hung up on Tesla having just 1.5 models per say, not today anyway, but the forecast for 2023 is 1.2m Y and 500k 3’s, so the 3 is clearly becoming a much smaller part of the pie, and I don’t see the refresh changing that much. It’s also currently selling at hugely reduced margins versus 2022 - 1/2 the sales at 1/2 the margin = 1/4 of the revenue

my concern would be when I look into the near future - we know how long it takes Tesla to deliver anything, so when I fast fwd a few years, there will be a refreshed 3, (by then 10years old!), selling in small numbers no doubt, and the then 7 year old Y, presumably getting a refresh - and that’s it - and that’s competing against the best the world has to offer.

you’d want to be drinking all of the coolade to see how Tesla continues to grow materially in that environment.

the cybertruck, semi, roadster, FSD, insurance, mega packs, solar tiles, robot thing, etc etc won’t be volumes sellers, certainly not enough to shift the share price of a $0.5 trillion dollar business.

its all riding on the Y for the next few years, and that’s a huge risk