Let me clarify. No one will get their full car price back, this is obvious.
Apparently not to everyone... NuclearFusion seems sure (against all logic, sense, history, and basic fundamentals of law) that he'll get a full refund.
What I'm saying is that ALL Tesla buyers will be eligible for some form of compensation, not just FSD buyers.
Possibly. On the other hand in the EAP lawsuit only those who
paid for eap got anything.
If non-buyers did get anything I'd expect it to be a very tiny amount
They will, because the car is a ‘lemon’
That's not actually what the term lemon means, legally.
Like, even a little.
Anyway, here's some actual math on how it'd probably work-
So there's 2 groups here.
Group 1- people who were promised (at least) L4 driving.
That's people who bought FSD before the feb/march 2019 change.
From launch of FSD as a sold feature to the Feb/March 2019 feature description change, Tesla sold roughly 400,000 cars.
Take rate on FSD, back when EAP was available, was lower than it is today- most optimistic estimates were in the 25-30% range, let's say 30% for this discussion.
That's 120k cars, at $3000 each- or 360 million bucks.
That's their liability to those customers (call it 400 mil since some fraction will have bought later at the higher 4k post-delivery price)
They MIGHT be able to try and argue they only owe those folks a partial refund since they're now (and will presumably continue to) deliver SOME actual features that require FSD (stoplights, maybe some L2 city autosteer) but I think that's a bit tougher argument to get away with than group 2.
Group 2- people who bought post feb/march 2019 change.
These people were promised a specific list of 7 things. 5 of which were already working when they bought FSD so those are delivered. Stoplight/stopsigns is now delviered (to the US anyway) so that's 6/7. Autosteer in the city is the missing feature.
So I guess of the 7k they paid (some a bit more or less) they could expect 1k refunds- 1/7 features undelivered right?
That's not nothing, but let's say take rate is 50%, and Tesla sells an average of 500k cars (that'll probably be moderately close combining 2020 sales and the last 3/4 of 2019), so that's 250 million bucks per year of sales they need to refund- or about 500 million total.
Even combining both groups, that's less than -1- billion in refunds. Let alone the insane BILLIONS you suggest.
Good news for Tesla though- unrecognized FSD revenue (which is all the revenue for the $ they took but haven't delivered the features of) is a LIABILITY on their books. Which goes away with a refund.
Anyway- it's true non-buyers might be entitled to some $ too (or they might not- like in the EAP lawsuit), but it'd obviously be less (almost certainly far less) so even then you're nowhere near the plural of "billion" in refunds.