The guidance comes amid a drop in deliveries and after earlier slowdowns of Cybertruck production.

Tesla told Austin workers on its Model Y and Cybertruck lines to stay home for the week of Memorial Day, three workers told Business Insider.

The break is unusually long, the workers said. Production lines were up and running during the same period last year, they said.

The electric vehicle maker notified employees earlier this week. The workers, who are paid hourly, were told they could either take paid time off or come in for cleaning and training but would not be working on the production line.

Tesla deliveries dropped 13% year over year during the first quarter.

  • Buffalox@lemmy.world
    391·
    11 hours ago

    I’ve been arguing the Q1 result was cooked already from day 1 they came out. The actual result is probably way worse. One of the reasons is that Tesla has been producing way to many cars, and the cars on stock are overvalued to push the deficit into the future. Where they probably hope to camouflage the loss in other ways.
    But competition is intensifying, and Tesla is already at a very low margin on each car sold. Increased competition is at a point where Tesla will have to sell cars at a deficit. While at the same time write off value on stock. Or alternatively lose even more marketshare.
    The glory days where Tesla had the highest margin per car sold in the industry are long gone.

    • havocpants@lemm.ee
      27·
      9 hours ago

      Yes, all that, but the effect of Elon completely alienating the people who wanted to buy Teslas can’t be understated. I don’t hate the cars at all, but my god I loathe Elon and would never give him money.

      • StonerCowboy@lemm.ee
        4·
        7 hours ago

        The brand can recover if they remove Musk but I’ll never support it cause the Nazi will still get his cake from w.e cars get sold.

      • Buffalox@lemmy.world
        8·
        8 hours ago

        Absolutely, if Elon had been a normal CEO, Tesla would probably still be riding on the reputation they had few years ago.
        What I’m saying is that it will be hard for Tesla to make a comeback, even if they somehow manage to restore the name.
        They are no longer a technology leader, and they aren’t leading on value either, which makes Tesla just one among many options.
        And it seems they can’t keep up with the competition anymore, now that the traditional auto makers have learned the basics of making a good EV. And China is so far ahead on batteries and Fast Charging it isn’t even funny.
        Both BYD and CATL have batteries that can charge 3 times faster than the fastest Tesla!

        In USA Tesla is protected by tariffs, So USA has lower competition, but in Europe and China, I don’t think Tesla has much of a future, (EU has 3 times as many BEV models to choose from than USA!) and even USA will be a a huge uphill struggle, because they have such poor brand recognition.
        I don’t think Musk can turn Tesla around, the claimed options to do that are RoboTaxi, and AI and robots. But Tesla is not even close to be leading in any of those fields. So Tesla will be a company with huge R&D costs, but little money coming in. Unless Musk can keep conning new investors of course.

        • turmacar@lemmy.world
          3·
          6 hours ago

          The little Ford EV hatchback they sell in Europe is a lot more attractive than a Tesla personally. I just wish we could get them in the US, but the CEOs have apparently decided by fiat (hah) that no small cars are desired.