We should think back to when Musk decided to get into insura...
We should think back to when Musk decided to get into insurance. It was because $Tesla(TSLA.US$ owners were having a hard time getting insured by existing ins. cos. at reasonable rates so the problem was a drag on Tesla sales. Now, years later the level of difficulty for Tesla owners getting insurance has dropped a lot - as have the rates. So, what is today's motivation. Tesla insurance unless it is especially less expensive for Tesla owners, will probably not have that much impact on Tesla sales. Consequently, Musk/Tesla is entering into another commodity business with very high competition and low margins. The problem is Tesla insurance - a low margin business - does little to nothing to support the justifications of Tesla valuations.
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YCUMO : Agree. Add to that, an insurance company has to have a good customer service. The last thing owners want is being unable to reach anyone at the customer service center or having to wait months for making progress on a case like what happens with the Tesla service department. My number one criteria when shopping for insurance is how they are handling cases, can I count on them or not.
blacklemontea : Tesla people always think 5 steps ahead of the game. They know their cars will have very few accidents in the not so distant future, basically no accidents. If they don't insure Tesla cars, other insurance companies would be taking all the profit.
Alibabamascot blacklemontea: Like Knowing the car could drive from LA to NY (and charge itself) in 2018 - that 'not so distant future'?
2018 - gone
2020 - Robotaxi - gone
The next key date is 4/22/22 when, according to Elon, 3 years prior you actually bought a horse from him not a car. (Hi ho Tesla and away!).
Meanwhile those who bought something they will never receive will be asking for their money back.
Hearts Gainer : Sure, why not try everything…crypto…insurance…space…like a great magician with a little distraction so you don’t see the revealing detail of the trick! He has nothing to lose, can’t make the fundamentals worse, so just keep plugging away and having fun!
GROW sky Hearts Gainer: Your definition of "everything" is strange.
LarryCheungCFA GROW sky: oh he hasn’t gotten there yet, but as long as it keeps investors mesmerized, he will keep trying! Not a bad plan, maybe something works!