Tesla Posts Record Loss – And Stock Price Goes Up!

Another thing the media hasn’t been telling you is that there are ghost fleets of brand-new Teslas sitting idle in parking depots – much like the excommunicated VW diesels, but with a difference.

People wanted the diesels – and bought them, too. VW was forced to buy them back – often from reluctant-to-give-them-up owners – and force-retired them over picayune and pedantic “cheating” on government emissions certification tests.

But the idled Teslas are sitting because of quality control problems that make them unready for presentation to marks (whoops, buyers). These are problems which would result in the implosion of any other car company once word got out but word doesn’t get out because Elon’s cars are electric and so The Future; the deficits are simply not discussed for fear of alarming the marks (er, buyers) who might have second thoughts.

Some of whom already are having them, regardless.

These are the people who’ve asked for their money back – the deposits they made on cars not yet received – and it’s not a few of them. Thousands of them have been getting uneasy over the serial promising and never delivering.

Elon promises – again – that Tesla will make money by the fall. Well, fall is about two months away, bucko – and things do not look good.

“The projection of profitability in the second half of the year is admirable, but is based on selling a far more expensive version of the Model 3 then many consumers had expected,” says Rebecca Lindland, the executive analyst at Kelley Blue Book, publishers of the car value guides. “Can they sustain profitability if and when they start selling the more affordable $35K version? Insights into the quality and quantity of the reservation pipeline, while boring, would provide investors with confidence with profitability projections.”

This is exceedingly gentle analysis. More giving the benefit of every doubt to this latter-day P.T. Barnum – who is proving old P.T.’s observation about suckers being born every minute to have been the understatement of the century.

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