Tesla CEO Says NYT Article Caused Hundreds Of Cancellations, Also Talks About Future Demand (Video)

FEB 26 2013 BY ELECTRICCARSTV 13

Tesla CEO Elon Musk sat down and have a very honest and revealing interview with Bloomberg (to their credit).

Tesla CEO Says NYT Article Hurt Tesla To The Tune Of "Tens Of Millions"

Tesla CEO Says NYT Article Hurt Tesla To The Tune Of “Tens Of Millions”

Topics ranged from:

  • the New York Times article caused “a lot” of cancellations of Model S reservations, perhaps as much as “a few hundred”
  • market cap took a estimated hit of $100 million dollars
  • production estimates for 2013
  • demand for the Model S
  • the outlook for the company past 2013
  • impressions of Washington – “much less corrupt than people think it is”
  • on the lighter side: Musk says he never wore a tight black T-shirt when he met Tom DeLay, that he always wears a suit in Washington

Other tidbits of interest, Mr. Musk says that Tesla hopes to erase government loans in about 5 years (as opposed to the 10 year term of the loan), and that the $7,500 federal credit, if it were not available today, would probably cause Model S sales to be 10% – 20% less.

Bloomberg

Categories: Tesla, Videos

Tags: ,

Leave a Reply

13 Comments on "Tesla CEO Says NYT Article Caused Hundreds Of Cancellations, Also Talks About Future Demand (Video)"

avatar
newest oldest most voted
Voice of Reason
Guest
Voice of Reason

I am calling BS on the cancellation. Let’s face it, the typical person purchasing the Model S is, educated, affluent, informed on the technology and fanatical when it comes to the Tesla brand and technology. A simple article, which even if true is not going to cause these early adopters to suddenly jump ship. It would take several legitimate tests from noted auto journalists to sway a Tesla reservation holder. And I suspect at that point only 10-20 would jump if that many. This is more of a duck and cover for investment banker questions if Q1 falters. If all goes well, Elon will claim it was in spite of the negative publicity. He is positioning for Q1 conference call. Nothing more.

evnow
Guest
evnow

Let me see – we should trust your 10-20 over Musk’s number because
– You have inside info
– You are a psychic

Anything else ?

Independent Observer
Guest
Independent Observer

No I am not psychic or nor have inside info. I have brushed elbows with various Tesla owners and reservation holders at Auto Shows. They are smart, business savvy, technology literate, and can easily decipher fact from fiction. I guarantee the people that hold reservations right now are not going to dump their reservation over a one man’s report. They are going to lump it into two categories, either the guy has an ax to grind, so the report is bogus. Or the guys does not understand new technology and how to work with it to maximize performance. Certainly not “a few hundred” of these people are dumping Tesla. You apparently do not give the Tesla enthusiast enough credit for making intelligent decisions. I on the other hand understand that any CEO is looking for a parachute in case the next quarters numbers look bad.

evnow
Guest
evnow

Anecdotal “evidence” based on auto shows ? C’mmon.

Thats not the kind who would jump – the people who jump are the kind who reserved in the first place because of positive reviews in the press.

A WSJ “pundit” had written that Romney would win Florida because she saw more Romney yard signs there. Anecdotal evidence is poor compared to actual data.

scottf200
Guest
scottf200

Really like the remarks at about 2:00 where he indicated that when cars are delivered that they then see an increase in the interest/sales from the location where those cars were delivered. Volt owners dealing with a lot of negative press assisted in sales as well from numerious word of mouth discussions and personal demos.

GeorgeS
Guest
GeorgeS

Looks like sequestration is going to be around 5-9% in general.

Do you suppose that they would just cut 9 % of the EV tax credit.??

GeorgeS
Guest
GeorgeS

Elon needs to fight back.

So if he has to use the same lie and cheat tactics that the NYT used then that’s OK with me.

Mark H
Guest
Mark H

I’m with ya George, and I think that is exactly what is going on.

taser54
Guest
taser54

Nope. Musk lying will result in more cancellations and bring into question his financial statements.

Bill Howland
Guest
Bill Howland

My figures on the “sequestration” is 1/4 of 1 %. So its being overhyped.

Mr. Musk is saying exactly what he believes he must say..
If I borrowed $462 million, i’d have to say everyone is honest also.

There is a very politically incorrected Elephant in the Room that everyone wants to forget. But the ‘hundreds of cancellations’ I’d wager take this elephant into account.

Open-Mind
Guest
Open-Mind

Even with sequestration, federal spending is increasing. $3.553 trillion in 2013 vs. $3.538 trillion in 2012. Both up about 50% from the Bush years. All the sky-is-falling BS is just blame-game politics, and it’s coming from both parties.

MrEnergyCzar
Guest

Well, the fake Volt fire hype hurt Volt sales so who knows….

MrEnergyCzar

Bill Howland
Guest
Bill Howland

The volt fire was over-hyped , the “S” problem was underhyped or not mentioned at all, aka deflected.