Jim Cramer: 2017 Chevy Bolt EV Doesn’t Move The Needle For GM
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Jim Cramer, the mad man behind Mad Money and Wall Street extraordinaire, had some harsh words for General Motors and the upcoming 2017 Chevrolet Bolt EV.
Cramer spoke briefly on camera to The Street, where he was asked if the 2017 Bolt EV moves the needle at GM. Long story short? No.
Cramer explained a car like the Bolt EV is simply following a cumulative trend in the automotive industry and does nothing in particular to push the envelope. While we’d kindly disagree on that matter, since it will be one the most affordable longest-range EV ever produced later this year, Cramer is inevitably looking at the car from a stock standpoint.
And GM’s stock has been performing mediocre at best, falling below its IPO price.
Finally, a blow to GM’s ego, Cramer calls the automaker simply “not cool”, explaining Tesla has that certain it factor to it when it comes to shiny, new electric cars.
Does Cramer have a point? Sound off below after watching the video up above.
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From MarketWatch:
“Cramer’s Action Alerts Plus portfolio has underperformed the S&P 500 index SPX, in terms of total cumulative returns since its 2001 inception, according to a working paper released Friday by Jonathan Hartley and Matthew Olson, researchers from the Wharton School at the University of Pennsylvania.”
Business Insider:
“Paul Bolster and Emery Trahan of Northeastern University have done an exaustive analysis of Cramer’s Mad Money stock picks from 2005 to 2007 (pre-crash). The answer? Cramer’s not an awful stockpicker! Unfortunately, he’s not a particularly good one, either. In fact, once you adjust for the various style factors that explain most stock returns (market, small/large, value/growth, momentum), Cramer’s stockpicking is pretty much in line with the index. In other words, he’s average.”
Allan Roth at CBS Money Watch:
“By any measure of statistics I can think of, these four awful stock calls are telling of Cramer’s incredibly poor ability to call stock sells. It … surpassed my wildest imagination of just how bad anyone could be…”
On July 20, on Cramer’s own “The Street” website, an article by Laurie Kulikowski proclaims Tesla stock to be “Heavily Shorted”.
This Cramer guy makes totally random statements. His statements contradict each other within months. Why does anyone listen?
Even beyond that, he’s comparing apples and oranges, the way I see it
In 1999, then highest paid Wall Street tipper Jack Grubman elevated AT&T stock from Neutral to Buy in a deal to get his twins into an elite nursury school, the type that gets your kids on an automatic pathway to Harvard (if you “donate” all along the way, that is).
Kramer is a self serving egomaniac who is frequently wrong about numerous money and investment topics. He is an entertainer, and his views on GM should be taken with several grains of salt. I do not think he has any particularly valid insight about the automotive industry.
Tesla is always going to have a handful of special fans for one reason. It is new. The whole company, the whole idea, the look-everything about it is new. It’s the same effect when a new iPhone hits the market. We are constantly told by reviewers to wait just a couple of months before getting it so all of the problems are worked out. Yet there are still a handful of people who don’t care and they will pre-order it based off of a picture. Chevrolet, Buick, Cadillac, and GMC will also have die hard fans forever and will play the flip side of the coin. As Tesla strives to flaunt it’s “new-ness” General Motors will continue to build reliable, stylish, innovative, cool cars that other manufactures would crack under the stress of making. GM will be around for a long time and will always “be cool.”
Chevy Bolt is stylish, innovative and a cool car ?
Not so much about the “cool” factor, but GM’s Chevy Dealerships in the Midwest are the Chevy Volt’s own worst enemy, and most likely will be the Bolt EV’s worst enemy.
The Chevy Dealerships sales people are very misinformed (as some sales people at any automaker’s dealerships can be). In the Midwest the chevy dealerships are geared up to sell trucks, SUV’s along with Malibu’s and Cruzes. Most will not waste their time with the Bolt EV, which will be a shame as GM has beaten Tesla to the punch.
Sadly Tesla does have the it factor–ability to lose money and burn cash!
Cramer does have a valid point on the prestige of Tesla, vs the perpetual low-end perception of Chevrolet. Chevrolet’s choice to style this car like a Chevy Aveo does it no favors, particularity when Tesla loads their vehicles not only with class but exterior details – novel or novelty – that their owners can show off (and do).
That being said – let’s not run an entire article on the opinion of a person whose opinions are inherently steered based on their need for ratings.
Keep in mind Tesla and GM are both losing money on the sales of their vehicles. GM can absorb it much better than Tesla!
No need for GM to produce a more elaborate upscale vehicle and lose even more money. Their propulsion systems can be tested /improved on “cheap” Bolts and Volts!
I actually don’t think GM is losing money on the Volt or Bolt (probably they did lose money on the Spark EV, hence the limited distribution…that was never expanded). I think they just make “less” money on these types of vehicles than they do with full sized trucks. Big difference.
GM may have small positive margin on the Bolt(sale-manufacture cost), but it may not cover the R&D based on small volume.
Profit = sale minus cost
Cost = R&D, test, certify, manufacture, distribution, marketing, warranty repair …
Tesla isn’t losing money selling their vehicles, Tesla reported quarterly lost because they invested to expand more than they earned.
Many reports indicated that Tesla gross margin on Model S and X are more than 20%, but growing the production about 50% a year needs a lot of money for tools and equipment.
The Bolt is ugly. My wife ordered Model3 to replace her ATS. Showed her the Bolt, she’ll just wait.
The Tesla looks like a modern car. The Bolt, not sleek and attractive. An electric Yugo, that’s why GM is not cool
Tell her to wait at least three years before getting a Model 3, as the Bolt EV begins sales this year.
Well once Tesla builds a car as cheap as the Bolt that has a similar range and ability to carry as much cargo then you may have a point.
At his point there is no Tesla 3 and the fact is you bought a car you may not see for a couple years. You have a down payment on a car that will be closer to $50K by the time it arrives unless you buy a very base car that will still be over $40K and not the 35K as Musk first started and then admitted it was going to cost more.
GM’s goal here is to basically move the chains here to get more suppliers involved and more infrastructure in place to move the market so more average people can afford to buy and live with a Electric car in the future.
The fact is GM is looking at the big picture to in the future to make it so an Electric car is an acceptable alternative to the average buyer. They are not out to build a cult car and make it live only as a status symbol.
The Bolt is just a stepping stone to much larger things and a much bigger picture. GM can let the trucks and other ICE cars pay for the development here and keep advancing the cause. They have no need to presell cars to people with really no clue what they are getting just to bring new product to market that still does not make a profit.
Cramer is an idiot and the reality is the Electric car segment is a slow grow market that is going to take time to establish beside the ICE models moving forward. They will not replace all ICW vehicles anytime soon but will play a part in the market. The return on this will be seen 10 years from now and not next week.
To make money in the auto market you plan ten years out not just next year and not by making cars that live by being a status symbol as in time that parameter alone changes and what was cool today is old news in a couple years.
The day is coming that the Tesla will be like a Members Only Jacket, Earth Shoes and Polyester Suits. Old new and old cool.
If you note Tesla has lost a little Mojo of late as they have now started offering cheaper S models to draw more income and sales the X is still far from projections and having many quality issues. The shine is starting to come off this penny.
“You have a down payment on a car that will be closer to $50K by the time it arrives unless you buy a very base car that will still be over $40K and not the 35K as Musk first started and then admitted it was going to cost more. ”
There isn’t any proof to support your claim. Anyone can speculate anything, but as of now Tesla clearly said that Base price of Model 3 is $35k, anyone can add numerous options to bring to price up to $40-50k or higher. But those options may not be available with Chevy Bolt such as Autopilot, Supercharger, high performance and larger battery pack …
” They have no need to presell cars to people with really no clue what they are getting just to bring new product to market that still does not make a profit.”
Consumers around the world are not as dumb as you think. Based on Model S and X they decided that Tesla next car isn’t as bad as Bolt so the lined up outside Tesla stores around the world to deposit some money to be able to get one in the distance future.
If more than 350,000 people are willing to deposit some money and wait up to 2-3 years or longer this tells you Tesla does have a much better EV car at below $40k than Chevy Bolt. This many deposits did wake up the German car makers too, and this is fact not fiction.
Suggest you go read the 33000 mile update in “Car and Driver on their long term Tesla. Quick expensive rattle trap with questionable assembly concerns like a rocking seat. For a vehicle in excess of $100k I would expect a lot more!
Longest range EV? Um no. Tesla Roadster with battery upgrade goes 400. The model S and X have versions that almost 300 and the model 3 will have a >300 version
It has the longest range for any new vehicle base model sold. That’s a fact.
All those TM models will cost much more then the Chevy Bolt EV. Are you willing to pay more? Not even the namesake, Nikola Tesla, will pay that much!!
Hell, my non-performance MX 90D gets 257 miles per charge EPA, what the heck is this author talking about longest-range-ever EV??? Tesla’s been past 238 in their base options in each battery category above 75kwh since they came out. Even the base 75 gets at least 230.
* The author never used the word “base” in his sentence; he said “ever”.
If Cramer hates the Bolt, I’m now convinced it will be a success. There are countless videos of this clown.
if GM had not taken obama’s bail out money they could have told him to stick this electric car idea his EPA is pushing in the name of global warming but they now have no choice. the world is awash in oil and now we are being forced into expensive electric cars.
You are sadly misinformed. (I’m being nice here)
The entire world is moving toward the electrification of the automobile, with or without the US. The Europeans and the Chinese are already committed with clear policy. Even Porsche is there.
https://www.youtube.com/watch?v=0BE4OVy8Q-k
Or do you prefer the US auto industry go extinct?
BTW. No one is forcing you into anything. You can still drive your 1966 Rambler until you expire. Lol
the cost to develop these electric cars since they will be sold at a loss just adds to the price of my next new silverado or corvette.
The cost to develop your next new Silverado or Corvette just adds to the price of my next electric car.
I want to see a electric powered truck that can pull my ATVs, dirt bikes and snowmobiles to our camp 200 miles away. people like me who worked for 42 year and are retired want to do more than just drive to the shopping center. I bet you are also against nuclear power which we need to charge the batteries in your electric car. as far as the Europeans go they buy less electric cars than the USA and their gas is a lot more expensive and if they drive 200 miles they are in the next country
Couple comments.
Can’t jet away from politics can we? Slight correction–bailout approval started under Bush ! To be frank I think this was a prudent decision and thank both administrations for the bailout!
No the Bolt n Volt won’t increase your Vette and Silverado prices! Competitive vehicles will control. If you don’t believe that I refer you to the current state of the Camaro, Challenger, Mustang market.
And as to feeling entitled, 42 years in the workforce entitles you to nothing more than what you saved for your retirement. I beat you by 3 years and do not feel I’m entitled to anything!
Right on motorman. I’m for a electric powered truck that will pull my snowmobiles in the winter and be able to pull my classic muscle car on a trailer when I choose to trailer instead of driving.
I don’t care if you’ve worked 142 years. It’s moot and doesn’t give your argument more weight.
I’m not against nuclear as it doesn’t emit C02; as a function of chemistry, it simply doesn’t add hydrocarbons to the atmosphere.
Furthermore, how many more times are you going to use that lame talking point ‘awash in oil’? It didn’t work for your before, and isn’t working for you now. Also, just because the world may be ‘awash in oil’ doesn’t mean it’s wise to keep using it, especially we can see and measure the damage it’s doing. You’ll also have a hard time telling me it’s okay to keep sending money to OPEC or any Saudi arm.
‘Awash in oil’ is like telling an addict to keep doing speedballs because the streets are ‘awash in heroin’.
In all of your 42 working years, have you ever heard of ‘too much of a good thing’? Try using that talking point from now on. At least it’s believable and doesn’t sound tired when you keep repeating it.
I pointed out I worked 42 years to be able to do what I want to do in retirement and not be told by govt how far or what I can drivel. I know some people are content to set at home when they retire but if the wife and I want to drive 100 miles for lunch which we do we should be able to do that. if the good lord did not want us to use the oil he would not have put it there. the libs want to limit my freedom to go where I want to go but believe it is OK for obama to fly all around polluting the air raising $$$$ for elections.
The government isn’t telling you what to drive or how far you can go. It’s the technical limitation of the battery as result of chemical engineering developments.
I’m pretty sure you were complaining 142 years ago about how the government was interfering with your horse and wagon by MAKING you drive cars that needed to be refueled every 10 miles.
Damn liberals, right? Even back 1890’s the limitation of ICE cars were technical in nature and were overcome over time by engineering. The same thing will happen to EV’s, so you can stop worrying your pretty head about the awful boogie-man government living under your bed.
Not every new bit of technology is a government ploy. Some of it might ACTUALLY be privately funded and not subsidized.
Also, you might want to speak with a geologist about how the oil got in the ground in the first place. It’s a reductive process and wasn’t spontaneously ‘planted’ there.
In 5-10 years you’ll be able to buy an electric truck that can do just that. You may not want it, but it’ll be there. Even the Wall Street Journal, that bastion of liberalism, now concedes that electric cars will soon predominate the automotive landscape. Anyway, there’s a lot to like about 100% torque at 0 rpm. You should give it a try sometime.
A few thoughts —
1. There are times when an uncool brand launches a cool product. I can show you a really cool woman’s jacket. From JCPenney. A store full of uncool woman’s jackets. The Bolt is an example of a cool product from an uncool brand.
2. Is Toyota ‘cool’? Is the new Prius ‘cool’? No, and duckling ugly as sin. The Honda Fit is cool the way an over the range microwave is cool.
3. How is Tesla cool? The last time I checked ALL MAJOR AUTOMOTIVE MAKERS have trouble making perfectly reliable enjoyable cars. All suffer from recalls, shortcomings, and boneheaded design choices. So how could a new startup (Tesla, Apple, Google) promise as good if not better cars? My hunch? They’re newbies in a game GM has been playing for 108 years. That is: they make me fervous as nuck. Being nervous isn’t ‘cool’.
4. Jim Cramer is a tool.
5. See #4
too late to edit, but when I say GM is an uncool brand — I’m saying this within the context of the ‘notion’ that GM is uncool
instead of spending big bucks on developing cars that 99% of the people don’t want they should be spending the big bucks on perfecting the cars that sell so we don’t have these recalls.
You think you speak for the 99% of the car buying public?
Unless you’re a statistician doing market research, you speak for no one.
Recalls are more important than the eco-system. Yes.
tell that to people who had the exploding air bag kill a loved one. it the car companies spent their $$$ perfecting the air bag system instead of developing a battery powered car those people would be better off.
Wait until you find out that EV’s have airbags too. It’ll blow your mind.
Here’s a bigger bombshell: Automaker seldom ever make their own parts! That means the onus for all these airbag fatalities aren’t on those wasteful automakers spending their money as they see fit on EV’s that you don’t want but others do. The onus is on the parts manufacturer.
if people used their seat belts we would not even need air bags. remember the air bags are a supplemental restrain system (SRS) . the air bags have to be so powerful because federal law says they must protect a unbelted person. if the car companies did not have to spend money on developing and building those cars that very few people buy, less than 3% of the car sales the car companies could develop their own air bag system and not depend on outside suppliers.
Everything you wrote here is blatantly false. Your mind operates in a different reality. Technological advancements are making electric cars affordable and mainstream and we will soon find out with the Bolt, that People love them. The ones who drive Teslas are enamoured with them.
what do you do if the all electric car is your only car and in the middle of the night you need to use the car and your forgot to plug it in or the power went off at your house???
why you look in the mirror and face the fact you’re a pinhead
that you either should have bought a Volt or had a second car
john did you loose your binkey as you are starting to get upset. tell you mother to pin it to the onesey
What if there’s a nuclear explosion and EMP wipes out your gas pumps? Wake up.
What if?
I charge my Tesla on Tesla batteries storing FREE energy from the sun. Don’t depend on the grid. Or have a generator as most people in Florida have.
Is your next question, what do you do when the sun doesn’t shine?
“what do you do if an IC car is your only car and in the middle of the night you need to use the car and your forgot to fill the tank with fuel???”
The conclusion is the same for both those examples. You can’t fix stupid. Don’t blame the car.
bob where I live the gas stations are open 24/7 and I can coast down the hill to the station if I am dumb enough to run the tank dry
“remember the air bags are a supplemental restrain system (SRS) . the air bags have to be so powerful because federal law says they must protect a unbelted person.”
No. Airbags are ‘powerful’ in that they have to fully inflate in fractions of a second.
Even you said it yourself; SRS. Airbags are supplemental to seat belts, NOT a substitute for them. No federal law, even in the US, says that airbags must protect unbelted passengers.
If you were unbelted in a car and you get into a crash and you’re relying on a child-like understanding of the airbag acting not unlike some kind of big fluffy pillow, then in that accident it’ll either be the airbag or the steering wheel will forcefully rip your head off.
How the fuck can you be so stupid? Did you even read the owners manual that came with your car? Have you ever read an owners manual in a car with airbags? Have you ever read the warning sticker on the sunvisor that says (paraphrase) that ‘airbags are not a substitute for seatbelts’?
Can you even read? Maybe someone can read the Wikipedia article about airbags for you.
I’m trying to give you the benefit of the doubt here because I don’t think you are THAT dumb, but you’re really putting on a good act if you think an airbag is a needless cost that should be removed from cars.
“remember the air bags are a supplemental restrain system (SRS) . the air bags have to be so powerful because federal law says they must protect a unbelted person.”
No. Airbags are ‘powerful’ in that they have to fully inflate in fractions of a second.
Even you said it yourself; SRS. Airbags are supplemental to seat belts, NOT a substitute for them. No federal law, even in the US, says that airbags must protect unbelted passengers.
If you were unbelted in a car and you get into a crash and you’re relying on a child-like understanding of the airbag acting not unlike some kind of big fluffy pillow, then in that accident it’ll either be the airbag or the steering wheel will forcefully rip your head off.
How the hell can you be so stupid? Did you even read the owners manual that came with your car? Have you ever read an owners manual in a car with airbags? Have you ever read the warning sticker on the sunvisor that says (paraphrase) that ‘airbags are not a substitute for seatbelts’?
Can you even read? Maybe someone can read the Wikipedia article about airbags for you.
I’m trying to give you the benefit of the doubt here because I don’t think you are THAT dumb, but you’re really putting on a good act if you think an airbag is a needless cost that should be removed from cars.
you did not do your research as the overseas car manufactures were upset that they had to design 2 different sets of air bags because the US laws required the air bag to protect a unbelted person which was more powerful than required in their country. I raced cars as a hobby and no race car uses a air bag as they all use seat belts which do the job of protecting you in the event of a crash. I read in the paper all the time about people killed in a car accident and it states they were not wearing their seat belt. there was a accident near me where the person was killed because they were thrown out thru the sun roof because they did not have their belt on and the car crushed them. air bags are not needed if people wore their seat belts
Tell me a car company develop/engineer/test/manufacture all parts in their vehicles. There isn’t one.
All car makers depend on their suppliers to engineer/manufacture most parts, they just assemble all those parts at their plants.
I’ve got to differ with Jim Cramer on this one. 2-buck-Chuck is cool because it’s good wine and cheap. Any DB can go into BevMo and buy a great $50 bottle of wine. Chevy Bolt is cool for the same reasons as 2-buck-Chuck.
I don’t think it’s fair to compare the Bolt to low quality wine. That would be Dart.
All you need to do is look at this video clip to see Cramer’s “integrity” (or lack of same.) As far as being a car analyst or knowing what is “cool” he (IN MY OPINION) is not qualified to comment on either aspect and have it taken for more than a leaf scar’s impression. He is the Howard Cosell of Financial Reporting.
My Tesla Model X arrives early November.
BOLT not a serious threat to TESLA, but is helping TESLA accomplish it’s global mission of eliminating noxious gases.
Although I agree that the lack of a nation wide charger network makes the BOLT DOA, many of you, especially non-Tesla owners are forgetting one very important issue, Reliability, service and standing behind your product.
I’m loving my Tesla Model S and I have traveled all over the country without difficulty and with true peace of mind that I am driving the safest, sharpest, fastest and most reliable car in the world. And it’s built in the USA!
Since owning Tessie, I visited the dealer twice, once for annual service (new tires) and another time for tire rotation at 35000 miles.
On my last visit for a tire rotation, the service manager found moisture in the tail lights and replaced both assemblies, found a click in the steering wheel that I hadn’t noticed and repaired it and most important of all found a gentle hum in the motor between 0 and 30 and replaced the entire motor and inverter at a cost over $15,000 to Tesla. When I picked up the vehicle my bill was Zero. Yes 0! And my car was fully detailed looking like new. You are not going to get that service at any General Motors dealership EVER! Or ANY other car company for that matter.
Concurrent with owning my Tesla, I also had a new 2016 Chevrolet Trax for my son. It repeatedly kept stalling and wouldn’t restart. It was towed over 19 times. I came to know the dealership intimately especially when the free rental cars disappeared. It was a nightmare and eventually after much torture, and lemon lawyer visits, I was able to get the dirtbags to buy the piece of junk back for 10% over MSRP, which in no way addressed the multitude of inconveniences of having a totally unreliable vehicle. And then it was only if I accepted another one of their POS vehicles, which I have since disposed of. So lesson learned folks. The new Chevy BOLT actually aptly describes itself. If you are even thinking about buying one, you should BOLT, in much the same way I RAN from SPRINT when their reliability tanked.
I sadly parted ways with my Tesla Model S last week, but for 90% of what I paid for it. My model X arrives in several weeks, and I am very early on the list for a Model 3.
I’m not being arrogant by saying if you’ve never owned a Tesla you don’t have a clue as to the comparison. It is truly night and day.
And I still feel the sting from the days when my first new Corvette spent one month out of the first three in the shop and again General Motors quit paying for the promised rental cars and told me that I could sue them if I wished, but that’s why the 13th floor of the General Motors building is filled with attorneys. Choose wisely consumer.
Reliability. And that is only one of the more than 100 reasons I will never own any vehicle other than a TESLA.
And reliability is cool. Cramer’so got it right!
you should find a different corvette dealer as we have owned 11 new corvettes and the dealer always gave me a loner car free of charge when we had the corvettes in for any service.
Wow. That anecdotal story sure flipped me. Where’s Tesla Authority?
I’ve done better and found a new car company. I gave up riding in a bouncing brick. And now I only see the Corvettes in my rearview mirror with no use of gas or crazy noise.
My last Z06 encounter left him screaming and smoking and giveing up who knows how many dollars worth of tire tread just to try and catch me and I quietly left him behind driving a 4600 pound four-door Tesla sedan from a standing start.
After owning four new Corvettes, sometimes you just have to just let go of the antiques and just move forward.
The only place I see them now is in the rearview mirror along with GM.
Elon Musk is a proven LIAR (see the 6-K filed by Mobileye) with regard to the safety of his own cars and the evolution of his driver-assist aids. He raised money last May without full disclosure to his investors. He is trying to salvage his Solar City operation by foisting its losses on Tesla investors. All large corporations have unpleasant to ugly stories, but Tesla is building their record pretty fast and like GM in the past it has now started to include reckless disregard for its customers’ safety. He and Jim Cramer should share the same cell (and not a battery cell).
See details of the Mobileye 6-K filing yourself and if that does not disturb your feeling about using any of the “driver-assist” features of your now Model X, let me know.
https://www.sec.gov/Archives/edgar/data/1607310/000157104916018280/t1602234_ex99-1.htm
ALL OF THE ABOVE IS MY OPINION BASED ON SEC FILINGS BY MOBILEYE AND ACTIONS BY TESLA WITH REGARD TO SOLAR CITY.
Try taking your Tesla to any track with some corners. Basically, a Mazda 3 would smoke your Tesla on any track, which isn’t straight.
The Tesla Model S P85 Makes For A Terrible Track Car. Terrible brakes and handling more comparable to a pick-up truck. And you paid how much for that pig?
Anything with a 0-60 time below 3 seconds is bound to make for one heck of a track car… right? Well, that may be the case with the highes…
http://www.carscoops.com/2016/09/the-tesla-model-s-p85-makes-for-awful.html#more
I don’t waste my time going around in circles
Leave the track for trucks.
But, Tesla can handle that too.
http://www.teslarati.com/tesla-pickup-truck-transform-heavy-duty-segment/
You have little credibility when you compare single point with a world class all around sports car like the Corvette. Your thinking is as unidimensional as the overall performance of your car. A 7 series or even an S class offers decent all around performance including cornering and braking. That should be expected from any car when you spend up to 150K. And I won’t even get into the low rent interior of the Model S.
Multi-dimensional
Head to head
http://www.thecarconnection.com/overview/chevrolet_corvette_2016
http://www.thecarconnection.com/overview/tesla_model-s_2016
Performance
http://teslapedia.org/model-s/tesla-driver/using-the-model-s-as-a-performance-car/
I paid $77k. Half of your estimate and much less than the antique BMW and Mercedes clutter wagons.
The Tesla initially scored 103 in the Consumer Reports’ Ratings system, which by definition doesn’t go past 100. The car set a new benchmark, so we had to make changes to our scoring to account for it. Those changes didn’t affect the scores of other cars.
http://www.businessinsider.com/tesla-tesla-model-s-achieves-best-rating-of-any-car-ever-tested-2013-8
Tesla is now the fastest, safest production car in the world and in my garage. Proud that it is made in America! All in 4 years. Pretty impressive and not looking back, except to check the rear view mirror.
Interior lacks clutter. Minimal, sleek, user friendly and functional. Large touch screen is phenomenal.
Want a living room, stay home. The only complaint is have on the entire car is that it lacks clothes hangers.
To each their own. Some prefer loud gas guzzling, environment polluting antiques to feed the ego. Been, done that, got the T-shirt. Graduated with the times.
Seattle is Slewing more conspiracy theories than Donald Trump.
1) Autopilot’s first fatality came after the system had driven people over a hundred and thirty million miles safely, more than the 94 million miles on average between fatalities on us roads as a whole. Do the math. That would result in a half a million people being saved in a year if autopilot was universally available. Autopilot is already safer than the average driver and the goal is to make it 10 times safer than the average driver.
2) The driver of the vehicle involved in the fatality was watching a Harry Potter video on a DVD player sitting on the seat next to him. He was not operating the vehicle in accordance with prescribed standards and his inattention no doubt was the primary reason for the fatality. That would be somebody to setting cruise control for 80 miles per hour and then going to sleep and blaming cruise control for the consequences.
In its current mode, autopilot is not sophisticated enough to detect cross traffic and that is why drivers are informed to remain attentive. Future Generations, in fact the download happening this evening, will incorporate those capabilities.
3) Subcontractor Mobileye was insisting that the autopilot system be released as Hands-On. That makes about as much sense as cruise control and requiring that you need to keep your foot on the pedal.
In its current mode, autopilot will sense if the driver has not touched the steering wheel in three minutes. At that point the vehicle will sound a warning and if the driver doesn’t respond in 10 seconds it will slowly and safely come to a stop.
4) Bringing autopilot technology in house had been planned for months and this gave Tesla a great opportunity to begin the divorce proceedings from a company that is not in sync with the goals of the Tesla program, that is, getting the technology to as many vehicles as possible and as quickly as possible to save lives.
5) I have experienced close to 10,000 miles of autopilot driving and can state unequivocally that on numerous occasions it has assisted me in avoiding near accidents or collisions particularly when related to unanticipated actions other drivers.
One caution, I would acknowledge, is that I do not use autopilot when driving alone at night, because I have noted that the lack of feedback and stimulation of driving may actually contribute to falling asleep. In any case, by not responding to the vehicle warnings, the vehicle would by itself come to a safe stop.
No conspiracy here, just uninformed speculators slewing false allegations and interfering with life saving progress.
When you get a few autopilot miles under your belt and some credibility, feel free to comment.
The response does not address the fact Mobileye has filed this response with the SEC (under penalty of law) and Elon Musk will not rebut him because he LIED. If he lied about that, then what else is he lying about. Also, he raised money (and will raise money again) without required full disclosure. Neither you nor I are 30 year automotive engineers nor electrical engineers and thus debating the merits or quality of Tesla’s system versus others is useless; however there is one company, Mobileye, that has made a statement “under oath” which REFUTES Elon Musk and Tesla’s statements about this issue. Until and unless Musk is willing to respond “under oath” as far as I am concerned he is a LIAR. No conspiracy, no GM vs. Tesla, no Bolt EV vs. Model 3, nothing more than that.
ALL OF THE ABOVE IS MY OPINION BASED ON SEC FILINGS AND PUBLIC STATEMENTS MADE BY MOBILEYE AND TESLA.
“Also, he raised money (and will raise money again) without required full disclosure.”
Did any car company in the world disclose any and all fatal accidents every time they fill SEC paper quarterly ?
Remember more than 30,000 people died every year in car accidents in US alone, how many times did Ford, GM … filled with SEC about their vehicles involved in fatal accidents ?
a lot of those 35,000 deposits were from tesla stock holders hoping to raise the stock price. since it is a refundable deposit they had nothing to loose.
“a lot of those 375,000 deposits were from Tesla stock holders hoping to raise the stock price.”
Do you have any document/proof to support your claim that “A lot of 375,000 deposits” were from Tesla stock holders ?
The way you post indicates you have some proofs, please show it.
if you were a stock holder would you not have done that. if you did not you missed a chance to raise the value of your portfolio at no risk to you..