Soll ja vorwiegend (bislang) nur bei den M3's so sein (in den USA), noch nicht bei S und X (nach meinem Kenntnisstand)
=> warum macht Tesla das überhaupt?
=> wie alles: weil sie ganz dringend Liquidität brauchen, um den Geschäftsbetrieb aufrecht erhalten zu können
--> unten sieht man sehr gut (mMn --> ab "Fraud"), wie diese Maßnahme das Working Capital (Umlaufvermögen - kurzfristige Verbindlichkeiten) bei Tesla akut stärkt
aus:
https://twitter.com/GreatPaulSmith/status/108087054888689254…
@GreatPaulSmith
3. Jan. 2019
--> einfach Copy&paste hier:
How it works for dealers:
Credit line (flooring) secured by cars @ 85% of value, 15% cash by dealer
Inventory must be in known location so it can be audited by lender. Lender is putting up $, needs to know where their collateral is.
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Dealers have lots, also off site locations, but those don't change and are known by the flooring co
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When car is sold, $ is received, Car is given to to new buyer with temp tags, the new owner leaves the lot.
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Dealer receives the $ pays down the lender, gets their 15% back + profit, registers the car, title sent to lien holder (if you finance it goes to the bank)
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The Fraud
$ is received, dealer gives car w temp tags but delays registering/sending the title.
Until car is registered & title is transferred , flooring lender still thinks the car hasn't sold & is dealer inventory.
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Dealer just stole that 85% of the $ the lender fronted them
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What $TSLA is doing w M3
Instead of a flooring line they have an ABL but same idea
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Sells car (A), receives $, new owner drives off with temp tags.
Tesla uses the money for other expenses, stealing from the ABL. They delay months, keep giving new temp tags as long as possible.
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Once they sell another new car (B), they take those proceeds, they register car (A) & pay down the ABL,
but play the temp reg game with car B, till they sell another car (C)
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$TSLA must be thousands of cars deep in this scheme & I suspect that's what's been keeping them alive this long & why they haven't raised $.
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Like any Ponzi, they need to sell more cars to pay off their ABL for the unregistered cars they took the money for
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If sales decline or Tesla cant keep up the sales pace , those unregistered cars will never be registered
--- end ---
=> wobei oben der Punkt der Abführung der (möglichen) Sales tax durch Tesla noch nicht mal erwähnt ist --> das verschafft (mMn) Tesla auch noch mal zusätzlich Luft
--> auch hier wieder: eine Aktion (super-verspätete Registrierung) führt zu weiteren, mittelbaren Effekten --> der ganze Wald ist verrottet, nicht nur ein paar Bäume
=> wird werden ja sehen, ob PwC (und EY) da beim Geschäftsbericht 2018 mitmachen
--> ich sage schon mal "ja"
=> hier wird bis zum allerletzten Cent gekämpft
