Musk said Tesla cars would rise in value, but the opposite happened

[fholbert]

Back in 2019, Elon Musk made an astonishing claim for Tesla vehicles. Tesla cars, he said, would go up in value, not down, after purchase.

The reason for that is Tesla’s full self-driving capability that, Musk has said, requires only some additional software updates and regulatory approval before Tesla vehicles on the road today will become fully independent. He repeated this claim as recently as June 2023.

“You can think of every car we sell or produce that has full autonomy capability as something that in the future may be worth five times what it is today,” he said in the company’s third quarter, 2023, earnings call.

More here:

https://www.cnn.com/2024/03/03/cars/musk-tesla-cars-value-ev-prices/index.html

 

[cwerdna]

Yep, Elon's made all sorts of wacky claims. These are some on that:
https://www.axios.com/2019/05/08/teslas-elon-musk-robotaxi-service - search for pocket

Elon Musk says self-driving tech could mean consumers will have a limited time to buy Teslas at current prices

The billionaire Tesla CEO wrote on Twitter that the company's plan to develop self-driving cars to serve as driverless "robotaxis" could make its cars "several times more valuable" than they are now.

www.cnbc.com

Tesla vehicles are now 'appreciating assets' due to self-driving capability, says Elon Musk

Elon Musk has made quite an important claim about Tesla vehicles today; the CEO said that Tesla’s vehicles are now...

electrek.co

Elon Musk: Any other car than a Tesla in 3 years will be like 'owning a horse'

"It's financially insane to buy anything other than a Tesla," says the CEO of the electric auto maker.

www.cnbc.com

You can find many more of his claim at Elon Musk Today.

 

[professionalr]

So, you're saying 2021 and 2022 didn't happen?

 

[Bouba]

I’ve got FSD....and my name is on the list to be a Martian colonist.....can’t wait for 2025

 

[terranx]

So, you're saying 2021 and 2022 didn't happen?

You're saying those were because of FSD and not because of other influences in the world economy?

 

[cylonmode]

I honestly think the value of our cars rises and falls with the price of gas. It is what it is...

 

[Bluelocust]

I understand all vehicles depreciate; however, the price cuts on the M3 and MY have accelerated the process. I love my M3 but I have never owed a vehicle that has dropped in value as quickly as my M3. With Tesla adjusting prices on the fly - in an effort to maintain their stock price/and quarterly sales - not sure I will purchase another one nor recommend someone to purchase. There are a number of other options in the market today…

 

[Bouba]

I understand all vehicles depreciate; however, the price cuts on the M3 and MY have accelerated the process. I love my M3 but I have never owed a vehicle that has dropped in value as quickly as my M3. With Tesla adjusting prices on the fly - in an effort to maintain their stock price/and quarterly sales - not sure I will purchase another one nor recommend someone to purchase. There are a number of other options in the market today…

But where Tesla goes...the EV market goes with it

 

[Bluelocust]

But where Tesla goes...the EV market goes with it

True!

 

[ItsNotAboutTheMoney]

Another "Musk was wrong about FSD" thread, under a different name.

 

[Xenoilphobe]

Back in 2019, Elon Musk made an astonishing claim for Tesla vehicles. Tesla cars, he said, would go up in value, not down, after purchase.

The reason for that is Tesla’s full self-driving capability that, Musk has said, requires only some additional software updates and regulatory approval before Tesla vehicles on the road today will become fully independent. He repeated this claim as recently as June 2023.

“You can think of every car we sell or produce that has full autonomy capability as something that in the future may be worth five times what it is today,” he said in the company’s third quarter, 2023, earnings call.

More here:

https://www.cnn.com/2024/03/03/cars/musk-tesla-cars-value-ev-prices/index.html

My mommy said I was the smartest kid in school, you really thought a mass market mobile phone with wheels would appreciate?? ... you linked to CNN, they say a lot of things that are suspect, in fact lying in the media seems to be the norm these days.

What I know is the recent Model X we just bought was the best value purchase of all 4 Tesla's I have owned since 2012 and comes with way better quality, value and charging network than we had in 2012. Adding in Free Unlimited Supercharging and I can't find anything better. So it did go up in value in my assessment. Also interest rates are killing all car sales, so they have to lower the price to move them...

 

[Xenoilphobe]

Another "Musk was wrong about FSD" thread, under a different name.

Popcorn.

 

[FOOLSLFDRVNG]

You better buy FSD now before it goes up to 100k and generates us loyal owners income while we sleep. It’s going to be the next bitcoin.

 

[mborkow]

You didn’t really take him seriously when he said that right? That statement was so absurd…

 

[Solar Windman]

Electric vehicle is exciting. Full self drive will take much longer to become mainstream. But the barker must bring in the customers...

 

[jay1122]

Of course Musk has to oversell the FSD. That was the whole thing about Tesla branding back then. High tech, futuristic, minimalist, drives it self, saving the planet, don't even need steering wheels soon, etc. With the dirt cheap interior, you need something else to standout and compete with the likes of BMW/Mercedes. The FSD clearly didn't advance as planned, but the sales picked up simply on the merit of the smooth and quick acceleration of the EV and gas saving. No need for the high tech self driving allure anymore.

 

[FOOLSLFDRVNG]

Of course Musk has to oversell the FSD. That was the whole thing about Tesla branding back then. High tech, futuristic, minimalist, drives it self, saving the planet, don't even need steering wheels soon, etc. With the dirt cheap interior, you need something else to standout and compete with the likes of BMW/Mercedes. The FSD clearly didn't advance as planned, but the sales picked up simply on the merit of the smooth and quick acceleration of the EV and gas saving. No need for the high tech self driving allure anymore.

FSD is just delayed. BMW and Mercedes don’t quite have anything close to FSD maybe for another generation or 2 if by then they are still around. My wife has Mobileye on her ID.4 equal to autopilot 1 but there has never been an update and the software is atrocious although the build quality is like an Audi and better suspension.

The BMW and Mercedes crowd who needs the status such as a high earner income’s trophy wife will never buy a Tesla or will revert back to the German brands for social status when something is available such as Ben Affleck who use to be seen driving a Model S but now the EQ like your typical celebrity.

 

[exfed2001]

You didn’t really take him seriously when he said that right? That statement was so absurd…

Apparently some do.

Just like folks curse him when he raises and lowers prices.

But ICE vehicle cash offers, special sales, manufacturer and dealer prices/discounts and etc are OK, even though they amount to the same thing.

And we all know that depreciable assets really appreciate......................................................they no longer lose 30% when you drive them off the lot.

 

[terranx]

Apparently some do.

Including the investors which is why he makes those absurd statements. Gotta pump up that stock somehow

 

[Dan Detweiler]

What is the point of this thread? You know what, nevermind, I think I know the reason.

Dan