-
Want to remove ads? Register an account and login to see fewer ads, and become a Supporting Member to remove almost all ads.
- Status
"you had to pay upfront before you saw the car."
You expect us to believe, that you called and asked them to find you a CPO to your specifications, and they said you could buy the one you bought but only if you paid weeks ahead of time, sight unseen?
I think the car was in high demand and you paid before you saw the car so you wouldn't lose it, and probably paid shortly before you actually picked it up. Just a guess....
SmartElectric
Active Member
Well, I didn't. Just put down $1K and saw the car a few days later. Paid in full on delivery.
Drumheller
Active Member
So, based on assumptions, you state that I was intentionally misleading. If I am misleading, it is by accident. I would not do so intentionally.
Here is how the process worked for me:
I found a CPO I liked on the Tesla Model S preowned website. I paid the $1000 deposit online with a credit card the day I found the CPO. I then waited for contact by Tesla.
During the process, I asked for pictures. My adviser was kind enough to take some pictures when it arrived in AZ and send them to me. I asked if I could see the car, she said 'no, not until the refurbishment is complete'. When it was completed, I asked to see the car and drive it, she said I had to pay for the car, first.
That's how it went for me. I can't speak for everyone.
Cars going to Texas and other non dealership states must be paid in full before transit. Buyers are also getting finance requests to pay for the car while it is in production. Many eagerly do. If a loan is agreed upon, usually there are thirty days to execute it. Some buyers have made first month payments before seeing a car. By having a bunch in transit and those conditions and possibly using some ABL money against cars in transit, you get a big Customer Deposit number. Big enough to include $110,000 paid for Model X cars that sat on lots in first week of July waiting for delivery, but fully paid for. After the Model X bubble is sold off in Q3 the deposits should come down unless they hold another set in transit again end of Q3. What should be done is no money from customer deposits should include paid for Cars. It should only represent a deposit for a car not yet paid for. Remember, Model X signatures destined for Europe, 600+ of them, were $40,000 each and many may have been asked to pay fully prior to early July delivery. It is a very loose number.
With 5000 cars in transit, I expect 1000 were fully paid for, if not more. Many Model X over $100k. 1000 is roughly $100 million alone.
With 5000 cars in transit, I expect 1000 were fully paid for, if not more. Many Model X over $100k. 1000 is roughly $100 million alone.
Sorry, I missed it. Can you elaborate? what was the context?Audi: Your logic works for me.
Or should I call you by your given name,
Elon
mmd
Active Member
Or just put out a table with number of deposits on each line of product, compared qtr over qtr. A company that manages so much autopilot data can easily manage to find the total reservation count for each line. That is, if it wanted to convey the true state of its business.
I'm very pleasantly surprised that the stock took such a minimal hit despite so much badness in numbers and shockingly no Q3 guidance at all. No delivery guidance, no revenues, no eps, no nothing... Wow, how is Tesla able to get away like that?
Thank shorters. They have held down TSLA so low, it can not go any lower.
Have you noticed the unusually low AH volume? It is around 0.5M. Daily voulme is around 4 to 5M. Normally, the AH trade volume on the earnings day for any high beta stock is more than daily volume, sometimes an order of magnitude more. Today it is only about 1/10th. An order of magnitude smaller. Tomorrow should be very interesting.
sundaymorning
Active Member
@SBenson, 50,000 2nd half deliveries will be about what Tesla delivered entire year 2015. With pencils down for M3 and GF underway, I'm stoked.
dmckinstry
Model X 2019
I can only speak for myself, but I suspect it's because the long term faithful won't give up unless Elon does.
jhm
Well-Known Member
It's probably best for Tesla to give as little guidance as they can get away with. Suprises are usually positive, unless specific guidance had been given in advance.
Guidance is 50,000 for the rest of the year. That was told plenty of times.
In the earnings call they said Q4 and possibly Q3 will be profitable if you exclude M3 capex.
MTL_HABS1909
Active Member
I'm with you! That's about the only thing that could make me sell my shares.
Ive seen this with a few stocks over the years. A series of blunders or bad news, scares away the nervous nellies leaving the rusted on investors behind. The withdrawl of these investors reduces volatility as less people are jumping in and out, with less people jumping in and out day-traders start to lose interest as there is less volitality to trade on - so they move on too removing volatility further. You eventually get to a point that bad news doesnt seem to make the stock drop as much as it used to.
All purely anecdotal of course, and I have probably grossly overestimated the effect of retail investors on a stock like TSLA!
Having said all that, I dont think ER was a bad news story - Ive seen a lot of positive reporting - surprisingly positive.
All purely anecdotal of course, and I have probably grossly overestimated the effect of retail investors on a stock like TSLA!
Having said all that, I dont think ER was a bad news story - Ive seen a lot of positive reporting - surprisingly positive.
Likely 150,000 Model 3 reservations by midnight 3/31/16. Model 3 Reservation TallyOur GAAP cash flow from operations during the quarter was $150 million, which included the receipt of Model 3 deposits
If 373,000 reservations at 6/30/16, the Model 3 deposits added about $223 million to cash from operations during the quarter. So excluding the likely effect of Model 3 deposits:
Cash from Operations: -$73 million
Cash from Core Operations:+$70 million
What are the surprisingly positive things you noticed in today's ER?
mmd
Active Member
There were at least $115 million of Model 3 deposits in the Q1 balance. The reservation tally show 115,000 as of 8:30 pm PDT on 3/31/16. More importantly, the 10Q reported 36% of the $318 million balance in Accounts Receivable was attributable to un-remitted amounts from credit card companies (and that doesn't count amounts paid with checks which would have been accrued as cash rather than AR on the asset side of the balance sheet.) It is likely about $150 million of Model 3 deposits was in the $391 million balance at 3/31/16.
Just the reporting on it, I expected more negative articles - but many seem to focusing on the increase in orders & production and ongoing expensive investment in capital to bring forward the Model 3. I was surprised at how flattering some were.
- Status
Similar threads
- Locked
