The books have never been cooked this much

The books have never been cooked this much.

If wasted party conversations are to be believed, there will be restatement coming from this car company AFTER the numbers for the next quarter.

Tesla

Elon Musk

Tesla’s record earnings: ‘There’s quite a bit more to come in 2022,’ analyst says

Tesla (TSLA) beat analysts’ expectations when it reported earnings Monday afternoon, posting a profit of $1.1 billion and making a record-setting number of deliveries for the quarter. But one analyst told Yahoo Finance that the electric car company still has more room to grow next year.

Deutsche Bank Lead Tech and Auto Technology Analyst Emmanuel Rosner noted that Tesla worked relentlessly to cut the costs of its vehicles and to offer cutting-edge battery technology.

“We truly think this is about their low cost. This is about the superiority in battery technology, and it seems like there’s quite a bit more to come in 2022,” Rosner told Yahoo Finance Live on Tuesday. – Source

Elon Musk Sure Didn’t Sound Certain About Full Self-Driving On Tesla’s Earnings Call

Overall, Tesla’s Q2 Earnings Call was very positive for the company: It made a healthy quarterly profit of $1.1 billion, and a big chunk of that money came from actually selling cars, not regulatory credits. That’s great! Some of that money also came from people dropping $10,000 (or, by subscribing for $99 or $199 a month) for Tesla’s Full Self-Driving system, which is currently in a beta stage of development. During this call Tesla CEO Elon Musk brought up an interesting question about when and if those customers’ money will have been well-spent.

Here’s a transcript of the call, at the bit I want to talk about:

Elon Musk: (57:45)

Yeah. It’s like any given the price is going to be wrong. So we’ll just adjust it over time, as we see if the value proposition makes sense to people. I’m not thinking about this a lot right now. We need to make full self-driving work in order for it to be a compelling value proposition.

Tesla has been selling this service for years now, and Elon is saying that for it to be a “compelling value,” the company will “need to make full self-driving work.”

That sure sounds like he’s saying that anyone who has already paid for FSD both does not yet have a system that works, and their purchase was not a “compelling value.”

Am I reading that right? So … what about all the people that already paid for it? Elon addresses them next:

Elon Musk: (58:07)

Otherwise people are kind of … Depending on the future. Like right now, if it doesn’t make sense for somebody to do FSD subscription, I think it’s debatable. But once we have full self-driving widely deployed, then the value proposition will be clear. And at that point, I think basically everyone will go use it. Or a rare individual who doesn’t.

That’s kind of a confusing paragraph, there. I mean, I guess you really will be “depending on the future” if you dropped ten large for something that you’re hoping will be done in the future, right? – Source