Eh, I woke up at 10 AM and probably ended up buying at the same price as you. Had to be awake at just the right time to catch the morning dip.Saw the pre-market green and got a little too excited, grabbed some at the openI should know better than to dive in that early.
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racer26
Active Member
/u/ElonsVelvetJacket is indeed the user which appears to be in upper management at the store level. Everything he's said on reddit has come true.
The only thing I can think of is closing the high-end mall showroom-only type stores, because they're expensive and not well suited to selling cars, and most people order through the website anyway. They mainly existed to get the name out to where wealthy people are. With Model 3 becoming a rolling billboard soon, this is the only logical thing I can come up with.
From u/FredTesla (who is @FredLambert I believe?)
"Im told that's not the whole story. More about converting Service+ locations to just service."
Further rumor is that sales/service locations are going "just service".
To me *that* makes sense.
There are enough states with weird sales restrictions... and only one with restrictions on service centers. it's sensible to have a straight up "service center" model which can be deployed anywhere but Michigan, and worry about the stores/galleries separately. Also, the galleries need to be in prominent (i.e. expensive) locations, and the service centers absolutely do not (they can be in cheap locations).
Todd Burch
14-Year Member
Why yesterday vs. Feb 2016? I mentioned in another post that my strategy used to be 'buy and hold' to avoid short-term captial gains tax. Then I reconsidered since playing big swings will put you financially ahead vs long term vs. short term capital gains tax rate. So over the last 6 months or a year, when a big swing is clear, I'll try to play it depending on the size of the swing.
Why yesterday vs. Jul 5? Easy. I can't predict market action very well. Obviously this reaction to the delivery numbers is overblown--I just didn't know that it would be THIS overblown. If the swing is +/- $20, I'm not usually going to try to play it. But on a $50+ swing, getting out until the bleeding stops instead of riding it all the way to the bottom was worth the risk of potentially having to buy back slightly above where I sold it.
Long story short, I just made $8 a share off the trade. Holding and not selling would have made me $0 a share.
Todd Burch
14-Year Member
Agree, that's why I waited so long. I'm still hesitant to do it...but when the swing looks to be big enough, I go for it. So far, it's worked out for me.
Reciprocity
Active Member
Stores are silly in a model 3 world. Notice that they did not say Service Centers. I think you nailed it, you need more service centers and have a small amount of showroom floor and have a place inside to do hand overs for new S/X sales. They should just probably deliver Model 3 and people can just watch the videos in their driveway. Now if the stores sold solar as well, that could be a negative for the TE side of the business.
MartinAustin
Active Member
I definitely think the bleeding has stopped... the patient has been stabilised. Going to be buying some today... compared to $386 it is pretty cheap
Also from the velvet jacket Reddit thread:
employee9999
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12m
throwaway in case my boss is on reddit As an employee in a mall location, we were told a few weeks ago that upper management was going to begin cracking down hard on underperforming stores. I was explicitly told layoffs would occur if necessary, no mention was made of actual store closures though so who knows if this is related.
employee9999
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12m
throwaway in case my boss is on reddit
As an employee in a mall location, we were told a few weeks ago that upper management was going to begin cracking down hard on underperforming stores. I was explicitly told layoffs would occur if necessary, no mention was made of actual store closures though so who knows if this is related.Given that the cars have a long reservation list and the solar roof has a long reservation list and the Powerwalls and Powerpacks have long reservation lists, stores are probably not a good use of Tesla's cash at this time. Bluntly.
I suppose with Model S sales plateauing there is some need for some stores... but you get my point. When you have long backlogs, stores are not a priority.
I suppose with Model S sales plateauing there is some need for some stores... but you get my point. When you have long backlogs, stores are not a priority.
Still remember when 315 was incredible
Reciprocity
Active Member
In my area they are closing or re-allocating smaller locations. For example, they changed one service center in a place where they work on used Tesla to get them ready for resale. They used to be a service center/store location. They moved the store and service to a huge dealership like building with a huge log and good sized showroom. They did not close down the old location as they are using it, but the overall footprint for sales and service got much larger. I was just as a store/service center yesterday and all the same folks where there. But that was yesterday.
Well, I'm back in you jerks. Thanks a lot for all your upbeat attitudes, hope, and positive news stories....
I'm not sure that's FUD... with >500,000 reservations, a planned 400,000 production capacity in 2018, and maybe 20K-40K produced this year, Tesla really doesn't need that much in the way of "stores" for 2018. I think many reservation holders will still want to take test drives before finalizing, so some Model 3s will have to be delivered to stores for test drives, but having a lot of salespeople would be silly.
If anything it's incredibly bullish. "We not only don't need to pay for advertising, we don't even need showrooms to sell our cars. They sell themselves."
(Of course, now I'm having the humorous vision of a Model 3 "selling itself" by autonomously driving up to people and showing off its features, with a "please input your credit card number on the touchscreen to buy me" message. So I don't literally mean "selling itself"; it's a metaphor. )
If anything it's incredibly bullish. "We not only don't need to pay for advertising, we don't even need showrooms to sell our cars. They sell themselves."
(Of course, now I'm having the humorous vision of a Model 3 "selling itself" by autonomously driving up to people and showing off its features, with a "please input your credit card number on the touchscreen to buy me" message. So I don't literally mean "selling itself"; it's a metaphor.
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