Elon Musk @elonmusk
Time to up the ante (and fix some mistakes). Tesla announcement tomorrow.
Well, while I do love the MS, I wonder which mistakes?
I do like the "up the ante"
I LOVE TESLA
Supercharger & 4.5 with e-vampire gone.
not supercharger announcement yet, just to fix some mistakes :(
My guess, service tweaks. Could also be 4.5 with vampire fix.
Supercharging could be the "up the ante" component of the announcement.
no, read his second tweet... "Not part 4 yet"
4.5, maybe finally announce front and rear floor mats in all cars(tweeted once in past but then retracted), replace sun visors, parking sensors?
hate to say it, but I expect negative news :(
I can't believe it would be negative news. Elon wouldn't do the twitter anticipation game for negative news. This company and this car keep getting better (fog light controversy aside,) and I expect more positive news and continued improvements going forward. There's never been a car, or a car company, like Tesla!
"This is about getting a prior announcement right. Not part 4 yet."
Easter eggs ... 5 part trilogies ... and rewriting the rules of an industry.
God, I love the smell of innovation in the morning!
redoing math (real cost of ownership) on lease option?
Pretty sure this is to revise the "financing" announcement.
I just had my car serviced yesterday (5/1) and they replaced my floor mats and included one for the rear seats. Apparently this is already out there.
First 4 years service included. You do not want to leave it up to amateurs to decide to have service or not. This is a brand new car and it is vital for Tesla to know what parts are wearing and what not.
I hope it is about improving the service cost and policy for the prepaid agreement. Now that it is not required anymore for warranty to be valid, a lower cost or the option to do only once per year, regardless of mileage would be nice.
4G? (the hardware supports it). Or is the "under your nose" announcement later?
That's my guess as well.
In regards to the sun visors, yes they are small but I like mine and will ask Tesla to leave them alone if they asked if I want mine replaced. They are perfect and if you look at how sleek the car is and the angles, it's a Sedan with a Sport feel and the sun visors are a part of that feel. It blocks the sun just fine for me and I don't apply makeup so the mirrors are fine to. I thought I would have issues with the center console being so open, well, that has grown on me too and would get annoyed if something was there now.
You can't please everyone and sometimes, not everyone even knows what they like and can and can't do with or without.
"Up the ante" is a poker-derived idiom that means to raise the stakes, to put more at risk, both in poker and in one's personal life.
The ante is the enforced bet that poker players must put into the pot before they can play a hand of poker. If you "up the ante," you increase the amount of the bets. Thus, upping the ante means to raise the stakes or increase the risk of a project.
sry, I misread your post... not "what is", but "whose"... Never mind :)
I think it has to do with the financing. He's mentioned before they're working with the banks to "get it right", whatever that means. Having it available in more states at lower rates would be nice.
My guess is the financing will be revised to not be so gimmicky. I would be surprised if they modified the service plan. That's straight cash in the pocket.
I think parts in back order should be faster. Also improve on the service center customer service.
Please make it a 4G announcement!
I agree that the "mistake" refers to the financing program, as most people feel this is what hurts their reputation more than anything else, and unnecessarily so. For a company that wanted to be better than everyone else in every way, employing 'used-car-dealer' math to help sell their cars left a foul smell for most.
As for "upping the ante," I'm not so sure 4 years of free maintenance is "upping" the ante so much as a "call." BMW already provides 4-year 50,000 mile free maintenance, although that is factored into the sale price of the vehicle, whereas it probably was not for Tesla. Maybe 5-years, 62,500 miles?
Free internet+premium Slacker if you purchase(d) service contract or annual/12k svc!!
I think it wouldn't hurt if TM threw in a freebee in the annual main't cost. TM can negotiate a lower rate (~$7/car/mo.?) in bulk instead of charging an owner directly, say $20-30/mo for internet.
@rchiang, actually my local service center had just received several batteries and other spare parts to have at the ready citing a corporate directive to have spare parts in stock at the service center--even the batteries.
Why? Fast connectivity is really mandatory for an intelligently managed car.
This fixes mistakes (fees for fundamentals, insufficient bandwidth of 3G), and ups the ante (waives the 30/mo). This move will be hard to match by traditional automakers - as with free fuel on the Superchargers.
By guaranteeing that all customers have connectivity and supercharger access, TM can make the experience robust and consistent, and take the relationship with your car and the company to a new level.
With sales success, TM now has new leverage and is using it to pull ahead. They now have the muscle to cut a bulk deal with a wireless partner.
Expect the first GB/mo to be free, with instant online purchase upgrades for more GB's. That's the revenue opportunity incentive for the partner to sign on.
If so, another brilliant move to further widen the gap from the ICE pack.
@Mark K. - Thanks for offering a well articulated vision behind this idea! I hope Elon is reading... :)
I'd like to add that bundling the internet with the maintenance would really keep the basic upkeep of the car simplified which is what Elon has envisioned.
In reality there will always be internet for all cars anyway since that's how sw updates/diagnostics are handled...why not just enable it so people can enjoy the car more?
Another thread full of wish lists for Santa Elon!
I am enjoying myself.
If you up the ante, you increase the importance or value of something, especially where there's an element of risk as the term comes from gambling, where it means to increase the stake (the amount of money bet).
I think that Elon Musk is going to put more money where his mouth is. So it will have to do with the 2nd announcement. And this will result in an even better deal for the customers of Tesla Motors. Elon Musk is going to push more risk away from the customer and he is going to pull more risk towards Tesla Motors and/or himself.
A Tesla Motor Club member (vgrinshpun):
"Upping the ante" could be EM putting more of his money on the table, possibly in the form of exercising the TSLA stock options granted to him back in 2009. The last of the four milestones was conditioned on the completion of the 10,000th Model S. The exercise price was $6.63, and a total quantity of shares was 6,711,972. So there is a potential of additional $44.5M (or at least 1/4 of that) to be invested by EM in Tesla. Incidentally, these options expire in 2013.
The description of this grant was included on p.75 of 2012 10-K:
This just might be the case as well.
Another small hiccup was the tire/wheel service plan - which I purchased, and after they suspended it - requested a refund.
My guess, having just got the car back from service with new front and rear floor mats (and being told that these are being rolled out as cars come in for service), is that he referring to the crappy front mats and the omission of a rear floor mat and the fact that they are being replaced with better mats and that a rear mat is included.
Just my 2 cents
@BYT, Ditto!! Perfectly Stated.
Announcement will be positive - Elon and team are continuing to ramp up excitement with pre-announce tweets; why dilute it with negative news? Tesla = world's best marketing + awesome cars + awesome service + awesome financing.
SIAP - what time today is the announcement?
Velo1 - bump
if anyone wants to listen in, here is the info:
What: Tesla Motors, Inc. Announcement
When: Friday, May 3, 2013
Time: 10:30 AM Pacific Time / 1:30 PM Eastern Time
Press Release will be available at: www.teslamotors.com/press
Webcast: ir.teslamotors.com (live and replay)
Live Call: (877) 312-5519 / (760) 666-3771 (International)
One last thought I haven't seen here. "Upping the ante" could mean Elon will guaranty buyback at 43% (or whatever the number was/is) to all owners - whether you financed with the two preferred banks, bought all cash, etc. - that would be the fair/appropriate thing to do. You shouldn't have to finance to get this "insurance" policy. The fix is probably tweaking the finance program.
We'll know for certain soon.
There you go - financing program tweaks.
Information details are already available on the press page.
PALO ALTO, Calif.-- Tesla Motors announced today that it is raising the Model S resale value guarantee to be the highest of any premium sedan brand made in volume (excludes rare, low volume or limited edition vehicles). Buying a Model S through the Tesla financing offering now comes with a guarantee that the resale value will be higher than that of BMW, Audi, Mercedes, Lexus or Jaguar.
To protect people that have already purchased a Model S via this program, the guarantee will extend retroactively to anyone that made use of Tesla financing, created in partnership with US Bank and Wells Fargo, from when it was first announced on April 2, 2013. As with the prior resale guarantee, this higher number is also backed personally by Tesla CEO Elon Musk to give owners complete peace of mind about the long term value of the product.
“We appreciate the feedback from a number of journalists and customers that the first version of our financing product wasn’t quite right,” said Tesla Co-founder & CEO Elon Musk. “They were right, so we are fixing it and, moreover, upping the ante by providing the best resale value guarantee in the automotive industry. The Model S is rated by Motor Trend, Automobile Magazine and many others as the best car of 2013, so it should naturally therefore have the highest resale value.”
In addition, our financing partners have agreed to provide longer term loans that reduce the monthly payment considerably. Those who buy the Model S electric car for personal use will now pay a monthly rate of $580 taking only gasoline savings into account. When purchased via a business, assuming 70% of miles are for business use, the depreciation benefit further reduces the effective monthly cost of owning a Model S down to $315.
For those in careers that have a significant cost of time, such as doctors, lawyers, consultants and executives, the Tesla financial calculator makes it easy to factor in the value of time saved by being able to use the carpool lane or avoid trips to the gas station. However, this is now selected off by default and the above numbers do not include any consideration of time saved.
I hope there is more…. or we are going to get the "crying wolf” effect for calling a press conference for less than major announcements.
I think that's about it. Meh. Good for the company, useless for me.
I think this is the "mistake" that is being corrected. In addition, the "$500" is gone, replaced by "$580 with $315 gas savings per month, for business use".
I think this is pretty big, actually. Elon Musk is personally guaranteeing a residual value (percentage I'd imagine) that is higher than those luxury brands on cars that are purchased. Is there any other company that guarantees any future value on a purchased car? This of course is to compensate for the absence of lease offers, but still, I feel it represents well Tesla's commitment to supporting owners now and in the future. Not groundbreaking, but certainly good news.
It's great if you live in one of the states where their financing is offered. Otherwise, you're a "second class" owner, like those of us in DC, MD and VA. Not what I'd hoped.