Sorry for the semi clickbait, but I'll explain how this looks like an admission to me.
During the latest earnings calls two days ago, Elon fully excluded a possible retrofit / upgrade from HW3 to HW4,
either paid or free !
"The cost of retrofitting is quite significant so won't be economically feasible".
To me, this clearly means that everybody who purchased FSD with a reasonable expectation to use it in their current cars is set for disappointment. Elon quickly eludes by saying that after HW4 there will be HW5 and so forth, but let's not kid ourselves: There is a new set of hardware 4.0 because TV has somewhat failed using the current HW. Bringing true level 3 FSD in Europe also means a liability shift, which Tesla is not ready to accept yet. Hence the upgrade to high definition radars hinted in HW4 - which is somewhat an admission that pure TV will never bring true-FSD.
Now that this retrofit is out of the question, and after the dramatic price cuts of this month, it will also mean that the current vehicles will depreciate again tremendously once HW4 will be released in a year or so.
Listen in on the call from 29min here :
Thoughts?