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Tesla Drops Deposit Fee To $100

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Published on October 18th, 2019 |

by Johnna Crider

Tesla Drops Deposit Fee To $100

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October 18th, 2019 by Johnna Crider

Tesla has dropped its deposit fee from $2,500 to $100. Also important to note, the previous $1,000 and $2,500 deposit fees were fully refundable, but the $100 deposit is nonrefundable.

CNBC says that, “The order fee means that Tesla will make money every time a person places an order, even if they decide not to move forward with their purchase — no matter why they decided to bail.” (Yes, that is the definition of a nonrefundable fee.)

To be honest, I don’t think this is a bad thing at all. Let’s look at it from the point of view of a business. A business is meant to do one major thing: thrive. In order for it to thrive, it must survive. For this to happen, the business needs money to build itself up, create products to sell, sell them, and so on. Fully refundable deposits can send incorrect signals, create false expectations, and complicate Tesla’s operations. A nonrefundable deposit (which is what Tesla used to use), even if much smaller (it was previously much higher), is an actual commitment. Not that many people are going to give away $100, so they also won’t place an order without a genuine commitment or plan to buy the product.

Let me explain it in another way. I will use myself as an example. I am a “wire artist,” someone who makes jewelry with wire, be it copper, silver, or gold. These metals can get quite costly, especially gold. Then add in the cost of the mineral or gemstone — you won’t be looking at the sales numbers Tesla sees, but depending on what someone orders, it could be a $400 piece of jewelry that is handmade.

$400 is a lot for artists like me, and at least 25% of that will be the base cost — cost of the materials alone. Then there’s the work that goes into making the piece and shipping it. With Tesla, it has to pay employees.

So, when a customer places an order and then changes their mind, a business needs to have a plan in action. Personally, I charge full price upfront for my work and inform my customers that it’s non-refundable due to the cost of materials.

Now, let’s look at it again from the point of view of Tesla. The company has thousands of customers a week. Let’s imagine that out of every 1,000 orders, 10 are canceled. I am not sure what the exact number is, so I’m just guesstimating here. So, if 10 per 1,000 are cancelled and these 10 paid $2,500, then that could equate to $25,000 in cash Tesla would lose just from having to return deposits. [Editor’s note: With my new Tesla referral code, I have seen 8 people finalize a Tesla order and 3 place an order and then cancel it. Another 7 have placed an order and are yet to receive the car (and thus finalize the order) or cancel. That’s certainly not a scientific sample, but just as one data point, that’s a 27% cancel rate. If that’s anywhere near the norm, it must be quite a challenge for Tesla to manage when it so closely matches production with consumer demand.]

The best way to prevent those kinds of losses is to make it nonrefundable, and to do that, Tesla had to lower it. Remember, Tesla has to thrive–not just survive–but to thrive. The goal of anyone with a business is to prosper, yet people have this mentality that Tesla (and other businesses) must be bad because they make a lot of money. Some seem to give little to no thought about this. I see people all the time asking for Elon to give them a Tesla. If he did, Tesla wouldn’t make money.

On the plus side for customers, making the deposit only $100 makes it easier to get through the first step of buying a Tesla. $100 is still a lot to the average American working 2–3 part-time jobs and holding down a side business to survive — but it’s a lot more approachable than $2,500!

Photo by JRR, CleanTechnica

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About the Author

Johnna Crider Johnna Crider is a Baton Rouge artist, gem and mineral collector, and Tesla shareholder who believes in Elon Musk and Tesla. Elon Musk advised her in 2018 to “Believe in Good.”

Tesla is one of many good things to believe in. You can find Johnna on Twitter

Advertise with CleanTechnica to get your company in front of millions of monthly readers.

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Tesla customers who return their vehicle will not be able to order an identical vehicle for a year, the electric-car maker said in a recent addition to its return policy. Tesla has also replaced a $2,500 refundable order fee with a nonrefundable $100 one. The changes are significant because Tesla customers have complained about quality… Continue reading Tesla is barring customers from buying the same version of the model they returned for 12 months (TSLA)

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Harley-Davidson has resumed production of the LiveWire

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BMW continues to build the i3

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California plug-in hybrid maker Karma Automotive now accepts Bitcoin

Karma Automotive announced Tuesday that it will now accept Bitcoin at its flagship Newport Beach location.

In addition to dabbling in cryptocurrency for simple transactions, Karma will also explore theoretical blockchain applications outside of the that space, the electric-car manufacturer said in its announcement.

This move signals Karma's intent to expand its role as a tech incubator as well as an automaker. Many large-scale manufacturers have entered partnerships or established their own tech incubators to study green energy, mobility and other items outside of the traditional automotive sphere.

It also serves to further differentiate the new Karma brand from its roots in Fisker Automotive, from whose ashes the new company was formed. The Revero GT is the only carry-over product; two more models are planned along with a forthcoming in-house EV platform.

The next model expected to be unveiled is the Pininfarina GT coupe, which is a two-door riff on the Revero GT developed in partnership with its namesake design firm. The third model teased so far is simply called the SC1 Vision Concept, and it will be Karma's take on the Tesla Roadster.

Now located adjacent to John Wayne Airport in Orange County, Calif., Karma touts that it is the only automaker designing, engineering, marketing, and hand-crafting cars exclusively in Southern California.

A number of dealerships, especially in the exotic-car realm, have accepted Bitcoin for years. But it may be the first automaker openly boasting, with a press release, that it is now accepting it.

It's not by any means green, however. One report last year alleged that the cryptocurrency is used as much energy as all of Ireland—mostly because of currency mining.

Karma plans to launch a new performance variant of its existing Revero GT sedan and give a more detailed road map of its future product plans during its November 19 presentation at the LA auto show. Get ready to spend that cryptocurrency.

From The Mud Field To The Plug — Tesla Gigafactory 3

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Published on October 18th, 2019 |

by Johnna Crider

From The Mud Field To The Plug — Tesla Gigafactory 3

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October 18th, 2019 by Johnna Crider

From the mud field to the plug, there is a story of growth, determination, and persistence despite opposition. The plug is when the first car built at Tesla’s Shanghai gigafactory plugs in, and it symbolizes success and another major milestone achieved. The message is clear, keep on doing and ignore the haters.

Once upon a time, there were people pointing to an empty field of mud, with claims that Tesla was faking it. Actually, those people are still doing the same thing, despite being so wrong on this story. They change up their criticisms based on Tesla’s narrative of the moment, but the message is always that Tesla is faking something and is about to fail. Never mind history.

Regarding the groundbreaking in China, the haters claimed that Tesla isn’t going to be in China, and if you believe it, then you are a stupid, gullible, weak person who has no life.

Now, after the Gigafactory 3 has been built, the lights are coming on, and the first cars are approved for production, the saying is more along the lines of Tesla is losing money because no one will buy Tesla’s cars in China, and if you believe they will, then you are a stupid, gullible weak person. You have been conned.

If you believe the narratives of the Tesla [TSLA] short sellers, then you have been conned, but not by Elon Musk or Tesla.

You can easily observe the narrative of the loudest advocates for Tesla’s failure. While they scream and taunt Elon on Twitter, Elon replies back with his actions, or rather with Tesla’s actions. For every tweet, every negatively photoshopped image of Elon, and every chant that “Elon is a fraud” (with no real evidence to back up these claims), Tesla’s response has been that of progress.

This speaks volumes of how well Tesla is actually doing, and for those of us in America, we should be not only proud but also in awe of what Tesla has achieved, especially with China. Coupled with the taunts and chants of short sellers and a few in the media who consistently support the short thesis, the Gigafactory 3 is something beautiful. It is extra special.

Interestingly, the ugliest tweets bring out those who not only support Tesla, but who believe in Elon Musk — people like Chao Zhou, who has superbly documented the transition of this mud field; Vincent, who also keeps us updated on the progress of Gigafactory 3 with pics, videos, and inside information.

No Longer A Mud Field

A US Company Embraced By China During A Trade War Between Both Countries

Right now, the US and China are in a trade war. Tariffs have made almost everything go up in price, and we are seeing the effects of it here — things that were once $15 (small appliances, for example) are now $23 and up. However, this aside, we have to understand one thing:

Tesla is the only foreign company that has its own factory in China — it was approved in a watershed moment by China to operate and sell electric vehicles to Chinese citizens. The fact that China’s government has fully embraced Tesla is nothing to overlook, especially since our own government made Elon pay millions for a tweet certain people didn’t like.

Tesla Granted Manufacturing License in China

Earlier this morning, Reuters announced that, according to China’s Ministry of Industry and Information Technology, Tesla now has the green light to start production. Tesla, Inc. was added to the government’s list of approved automotive manufacturers and was granted the certificate it needs to start production.

Gigafactory 3 Gets Plugged Into State Grid Power Supply

Bloomberg reported yesterday that the State Grid Corp of China has turned on the lights, so to speak, in the Shanghai Gigafactory. The transmission line will increase electricity supply to the plant at the required level for preliminary production. Shanghai Grid also plans to increase the power supply by 8 times so the factory can run at capacity. This project involves 55 kilometers of cables (34 miles for those of us in the USA) and 17 kilometers of ducts (10 miles). The State Grid also said this was among the quickest it had completed and only took 6 months.

Instead of following the hype of the critics, look at the monumental successes Tesla has had, and not just in China. The reason why short sellers are short Tesla is that they have made money betting against Tesla. I think this will soon change for them, and like all who face the daunting challenge of a big change, they refuse to accept it. They fight it and struggle with all they have. This is why they troll Tesla owners, fans, and shareholders (like me) online. This is why they create their echo chamber and convince some journalists to write negative headlines.

They don’t want their luck to change, but as Prince EA says,

“You can ignore this, but the thing about truth is, it can be denied — not avoided.” — Prince EA

Tesla’s success can be denied, but it won’t be avoided.
Follow CleanTechnica on Google News.
It will make you happy & help you live in peace for the rest of your life.

About the Author

Johnna Crider Johnna Crider is a Baton Rouge artist, gem and mineral collector, and Tesla shareholder who believes in Elon Musk and Tesla. Elon Musk advised her in 2018 to “Believe in Good.”

Tesla is one of many good things to believe in. You can find Johnna on Twitter

Advertise with CleanTechnica to get your company in front of millions of monthly readers.

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AB Volvo warns of demand slump as truck orders plunge

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