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Unsold Cybertrucks Are Piling Up at a Decaying US Shopping Mall
- gnabgib 1y agoOriginal source: https://www.autonews.com/tesla/an-tesla-lot-takeover-controversy-0527/ https://www.autonews.com/tesla/an-tesla-lot-takeover-controv...
- frogperson 1y agoI think there is a German word that describes perfectly how I feel about this.
- PlunderBunny 1y agoCrisis-tunity?
- buggy6257 1y agoschadenfreude.
- burnt-resistor 1y agoHakenkreuzfahrzeug
- kylebenzle 1y agoIs there a reason they can't simple lower the price if this is true? How can it possibly be better for Tesla to let trucks rot ranther than sell for less? Me and I'm sure others would love one at like the $5,000 price range.
- PlunderBunny 1y agoI suspect that would be a good price for a big battery that was (somewhat) portable.
- CamperBob2 1y agoIt's probably similar to the question of why commercial real estate is allowed to sit empty for years. If they lower the rent to attract tenants, suddenly the building is "worth" less than it was. That makes it harder for the developer to borrow money using the building as collateral, and potentially triggers some awkward clauses in the terms of existing loans. In the case of the unsold Tesla inventory, marking to market would make the whole company worth less. Tesla stockholders expect the company to tell them a good story, and writing down the entire fleet of Incel Caminos would be a bad story.
- Havoc 1y agoLowering prices screws up company valuations and stock prices
- nradov 1y agoThat's not how valuations work.
- bwoj 1y agoUntrue. Unsold inventory must be represented on the balance sheet as an asset. Marking down the value of 1000’s of cybertrucks will drop the book value of the company. It will impact various financial ratios that are used to estimate value. Worse yet, a public admission that they can’t sell these things can undermine the confidence which is the only thing propping up the stock’s value right now.
- Havoc 1y agoOn the plus side they have a minimum - the battery packs in them have value
- mensetmanusman 1y agoThe US is closing a college per week, and decaying shopping malls are the norm.
- seivan 1y ago[dead]
- bigtex 1y agoI remember when articles were written saying Tesla had almost 2 million pre-orders https://www.teslarati.com/tesla-cybertruck-orders-1-9-million-as-musk-off-the-hook-demand/ https://www.teslarati.com/tesla-cybertruck-orders-1-9-millio.... Good times.