Technology

It was only able to post a $409 million profit in the quarter thanks to the sale of $595 million worth of regulatory credits to other automakers.

Without the regulatory credits, and capital gains Tesla would be $500 million in the red.
And sales continue to drop in all markets. Tesla is no longer competitive in China and EU, only in USA due to tariffs on cars.
A couple of years ago Tesla boasted the highest margins in the industry on their cars, now they are so low, that if prices continue to drop, Tesla will soon be at s deficit on every car sold if they try to follow, or if they don't reduce prices, their cars will simply be too expensive. Damned if you do, damned if you don't.

Funniest thing about Tesla was the idea they'd make evs more economical and realible after starting in the luxury space. They did exactly the opposite and now shareholders are paying dearly.

It also wants to end the right of California and eight other states to demand tougher emissions regulations than the federal standards that would ban the sale of gasoline-powered vehicles by 2035. Without tough emissions rules at the federal and state level, there would be no regulatory credit sales.

The sale of those federal and state credits has been quite lucrative for Tesla, bringing in $8.4 billion in revenue since the start of 2021 alone, money that basically went straight to its bottom line.

Is this the greenwashing scam companies use to pretend that they are working toward a carbon-neutral production line? They're just speculating on future production and selling today's emissions to today's buyers on tomorrow's promise?

How fucked.

An Enron-like Tesla documentary is coming.

Weren’t they selling like 3000 cars a day at every single dealership in Canada? Seems like sales should be fine.

Funny how now they are making money selling regulatory credits. Lol

Not good. There’s still some remnant of the idealistic vision, hiding from the Nazi.

• robotaxis will eventually be a good thing, but it will be a long time before they’re profitable. I’m all for the experiment, whether teslas approach succeeds or not, but Tesla can no longer afford to stick to a money losing experiment
• the semi has huge potential to disrupt the trucking industry and rapidly decarbonize it. While I do see other companies experimenting with battery trucks, no one else has the potential combining mass produced parts from other vehicles, mass produced charging stations and mega storage, nor are taking the risk to scale up manufacturing. We need to electrify trucking and like it or not Tesla has some unique strengths that may help them succeed first. We need this
• these are teslas big upcoming efforts and they’re both an attempt to be revolutionary, which means risky, money losing. While I can get onboard the protest bandwagon, deprive the Nazi of his god level wealth, we need the EV revolution in trucking