Posted on 09/19/2018 1:30:16 PM PDT by Hojczyk
Former General Motors Vice Chairman Bob Lutz discussed Elon Musk’s Tesla in a recent interview stating that the company is “headed for the graveyard.”
In a recent interview with CNBC the former Vice Chairman of General Motors, Bob Lutz, does not have high hopes for the future of Elon Musk’s electric-car manufacturer Tesla. According to Lutz, Tesla is “headed for the graveyard,” given the recent announcement that both the company and Musk are being investigated by the DOJ and the SEC.
“They will never make money on the Model 3 because the cost is way too high,” Lutz said during the interview this week. “He’s got 9,000 people in that assembly plant producing less than 150,000 cars per year,” he said, referring to Elon Musk. “The whole thing just doesn’t compute.”
Lutz further joked that a movie about the company could be in the works within the next few years: “The jaws are tightening and I think in another year or two we’ll see a movie called ‘Who Killed Tesla,’ a conspiracy movie starring Leonardo DiCaprio,” Lutz stated.
(Excerpt) Read more at breitbart.com ...
Will we get our billions back....no way...it has been passed out to the Obama club..
Same with solar energy and ethanol fuel..
Were suckers..
Maybe suckers no longer...depending on the election???
Tesla’s going far. There’s one orbiting in the solar system now.
Right next to DeLorean.
One day, an alien spaceship will find that thing and say, “WTH?”....................
Back to the Future 4
Well, he might be right, but you know Bob...Musk doesn’t have to discount his cars 20-30% just to get them out the door like you did
Maybe your GM calculus isn’t quite adequate for this case
Similar to Uber and Lyft, alive due to massive subsidy by venture capitalists. Tesla is alive die to massive subsidy of our tax dollars.
Uber and Lyft at least they are throwing their money away voluntarily. Bit they are destroying legit unsubsidized business (taxis).
““He’s got 9,000 people in that assembly plant producing less than 150,000 cars per year,” he said, referring to Elon Musk. “The whole thing just doesn’t compute.”
But they are already above the 150k/y rate...
Lutz’s analysis may be right on the money.
But it does beg the question, if GM knows so much about building vehicles profitably, why did the government have to bail them out?
“But they are already above the 150k/y rate”
Correct, they are doing around 250,000 yearly now and want to increase.
People are too down on Tesla. I’m thinking about a Tesla. Right now, the Model 3 is only selling the $50k+ models. I’m more interested in the $35k model which isn’t being produced yet.
Tesla is 100% made in the USA with a majority USA produced content.
The government is stupid...
Does anyone recall how Preston Tucker was taken down?
Or Howard Hughes and his “Spruce Goose”?
HEAVY oppression from both the legal aspects of their financing, and legislators who got involved in the general hounding out of the entrepreneurs who dared to step out of the bounds of their position in society.
Change the gold wheels to black, and it would be a winner.
“One day, an alien spaceship will find that thing and say, “WTH?”....................”
WTH??? They haven’t figured out the combustion engine yet? Primitive civilization.
Will we get our billions back? What do you mean, from GM or Tesla? You do know that both of them have been massively subsidized... right?
They will say, “WTH? Why is there an internal combustion engine vehicle way out here in the middle of nowhere space?”..................
It has had its left turn signal going since it left the factory.
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