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May have to move fast.....
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Posted by MI-Roger [Email] (#882) [Profile/Gallery] (more from MI-Roger) on Thu, 4 Aug 2016 14:26:57 Share Post by Email
In Reply to: Tesla Model X, No Snaab, Wed, 22 Jun 2016 16:24:03
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Tesla reported news this week that many analysts have been expecting. Their cash burn rate is so great that Tesla has exhausted their existing line of credit. Additional future lines of credit (if available) will almost certainly carry larger interest rates. Elon keeps saying they will sell more cars soon, but the sales numbers are going the other way. Most of the early adopters already purchased and not enough other folks are filling the void. Tesla now realizes additional future sales will require leasing, but the cost recoup via leasing is years rather than days.

IF Tesla can bring their new car to market soon they may still have a chance at financial survival. They have missed the promised introduction dates for all other models and buying a failing solar panel business saddled with hundreds of millions of its own debt will not help Tesla in the near term.
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Saabs owned:
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2006 9-3SC 2.0T - Wife's daily driver
2000 Viggen Convertible - Sold May, 2022
1964 Quantum IV Formula Car - Retirement project
2000 9-5lpt Sedan, sold at 318K miles
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