The wheels are “falling off,” sometime literally, at Tesla Inc., and the Silicon Valley car maker appears to “again be on the brink” of failure, David...
Tesla Inc.’s “wheels are falling off,” sometimes literally, and the Silicon Valley car maker appears to “again be on the brink” of failure, David Einhorn’s Greenlight Capital told investors Friday.
“If Q1 is any indication, total annual global demand for the Model 3 is 200,000 vehicles,” it said. “We believe that poor reputation for quality and service and diminishing tax incentives are limiting broader demand.” “The signs are everywhere, from the lack of demand, desperate price cutting, layoffs, closing-and-then-not-closing stores, closing service centers, cutting capex, rushed product announcements and a new effort to distract investors from the demand problem with hyperbole over autonomous driving capabilities,” it said.
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