Time to end the Foundation series.

[JPRIVER]

Agree! I have been waiting 117 days. Will probably refuse my FS at this point and wait for what was agreed to. Let Brittany Spears or someone that doesnt care about it have it.

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[bongulous]

It seems like they’re still inviting reservation holders for the FS. My guess is this will likely continue into the new year. If there’s a demand for it they have no reason to stop offering it.

 

[DumpsterFire]

Why would they stop with the FS? Clearly people are clamoring for and buying them.

Tesla is a for profit, publically traded company beholden to shareholders. They don’t care about your feelings or rewarding your patience for waiting. They are interested in only one thing. Making money.

Stopping with the FS right now would be leaving money on the table. I don’t think the shareholders would be stoked about that….

 

[CybertruckRN1127]

FS will probably end in summer of 2025. They can't end it while they are still fulfilling FS which the beast is estimated delivery in late 2024. They will keep sending invites this year so FS deliveries will get pushed later in 2024 and early 2025.

As for being rare, no one will really care in the future. 2016 Signature Model X and 2013 Signature Model S are not that attractive to buyers. 2016 X doesn't have foldable middle row. 2013 S doesn't have AP.

Tesla is a tech and a car so it takes double depreciation. No one wants a rare 1990 Laser Disc player for example. 2026 Cybertruck will be better than Foundation Series. 2027 CT will have row down back window, probably even folding mid-gate, and more range. By then, no one will care about a 2024 FS CT.

 

[Chris9702L]

FS will probably end in summer of 2025. They can't end it while they are still fulfilling FS which the beast is estimated delivery in late 2024. They will keep sending invites this year so FS deliveries will get pushed later in 2024 and early 2025.

As for being rare, no one will really care in the future. 2016 Signature Model X and 2013 Signature Model S are not that attractive to buyers. 2016 X doesn't have foldable middle row. 2013 S doesn't have AP.

Tesla is a tech and a car so it takes double depreciation. No one wants a rare 1990 Laser Disc player for example. 2026 Cybertruck will be better than Foundation Series. 2027 CT will have row down back window, probably even folding mid-gate, and more range. By then, no one will care about a 2024 FS CT.

Exactly this ?

 

[Ward L]

Tesla will make FSCTs until Tesla can make more CTs than they can sell. It may not seem fair to you, but that is the way Tesla can maximize their profit. It seems Tesla is selling the FSCT for under market value. By the time, maybe several years, they quit making the FS, the price of a non-FS truck will be higher than it is now. Your fantasy of buying an AWD CT for $80k will never happen.

 

[FutureTruck]

Foundation Series will end soon. Not a good look that such a low percentage of reservation holders are taking them. Currently sitting at about 1/100

 

[Jhodgesatmb]

It's time for Tesla to do the right thing for its Foundation owners and those of us been waiting 4 plus years, STOP the Foundation Series, those who paid the premium for the Foundation should be rewarded with a truly limited and rare CT, and those of us waiting 4.5 years and need to have a sub 80k option should be able to take delivery. The CT shown here in Sarasota is NOT a foundation series, so they are even making them already, just STOP and make the Foundation Series rare and let the rest of us experience the CT.

In principle it makes sense to switch over when Tesla can no longer sell the FS at the rate of production. All indications are that they still can. By that I mean that this past week they expanded the RNs they made invitations to to 3/4 numbers but it was also a long week. They had more order conversions than previous weeks.

That said, you realize of course that Tesla would go back to the beginning of the list and would no longer limit purchase to a single vehicle. My RN might not come up for another 9 months. You might be satisfied with that but I would not.

 

[jf64k]

FS will probably end in summer of 2025. They can't end it while they are still fulfilling FS which the beast is estimated delivery in late 2024. They will keep sending invites this year so FS deliveries will get pushed later in 2024 and early 2025.

As for being rare, no one will really care in the future. 2016 Signature Model X and 2013 Signature Model S are not that attractive to buyers. 2016 X doesn't have foldable middle row. 2013 S doesn't have AP.

Tesla is a tech and a car so it takes double depreciation. No one wants a rare 1990 Laser Disc player for example. 2026 Cybertruck will be better than Foundation Series. 2027 CT will have row down back window, probably even folding mid-gate, and more range. By then, no one will care about a 2024 FS CT.

Excellent points, especially on the “rare” aspect.

FS will be worth exactly $0 more than non-FS on the used market for similar trims, heck maybe worth LESS if FS are associated with the early issues we read about here.

I ponied up the extra dough for FS AWD because I want one sooner (configured 03/15 so we’ll see, haha!!). I would‘ve added FSD to a non-FS, along with some of the other accessories, anyway.

And I wish people would stop with the ’FS is $20k more!!’ like it’s a legacy dealer “Market Adjustment” with no extras included. You need to back out the value of the included add-ons (FSD, Powreshare, accessories, and options). Even with that, it’s still more money than non-FS to move to the ‘front of the line‘, but so it goes.

 

[Jhodgesatmb]

Foundation Series will end soon. Not a good look that such a low percentage of reservation holders are taking them. Currently sitting at about 1/100

You have never provided the source of your conversion rate percentage. It might be in that general range but ‘I’ have no way of knowing so how does anyone else? Tesla will shift out of selling FS CTs most surely when the production rate is close to the conversion rate.

 

[tbuck]

To know when the FS ends, one just needs to look back at the overall business strategy of Tesla when Elon took over as it is still used today.

1 - Make an expensive, niche vehicle that appeals to a smaller number of higher-income individuals (model S)
2 - Use that to fund another vehicle that appeals to a segment of the population (Model X)
3 - Use those revenues to fund the development and production of a lower-cost/higher-volume vehicle (Model 3)
4 - Use those proceeds and experience to fund production of a lower-cost/high-volume popular car between the low-end and high-end (Model Y)
5 - Differentiate different trims to broaden appeal for all models across the population (performance, dual-motor, long-range, Plaid, etc.)

They are taking the same approach with CT:

1/2 - Market a more expensive version of the vehicle with lower demand to a select part of the population (as production will be limited and mistakes are made - which lessens the financial impact of early production issues as we have seen)
3/4 - As funding increases from sales and production issues addressed and FS sales start to taper, begin producing a lower-cost version of the vehicle (what most of us are waiting for)
5 - Differentiate trims to broaden appeal at a lower price (single-motor factory in Mexico)

To answer the question of when, we will need to watch when FS sales begin to taper. As 100% of FS production is being consumed currently, it may be several more months before we see what we have been waiting for.

In the end, it is about ensuring financial viability of the company (especially after a disappointing Q1).

 

[CybertruckRN1127]

Foundation Series will end soon. Not a good look that such a low percentage of reservation holders are taking them. Currently sitting at about 1/100

That's low on the estimated side. Even thought both you and I don't have any real stats. 1/100 is still 40,000 out of 2 million reservations. Tesla delivered like 2,000 or less Cybertrucks in the 1st quarter. Let's just say they delivered 5,000 so far, they still need to deliver 35,000 more by end of the year. It'll take them 18 months to get there. Elon said full production is 18 months away during the delivery event. He was looking at near the end of 2025.

I think there are 60K people out of 2 million would buy the Foundation if offered. If I was managing Tesla, I would keep offering FS as long as people keep accepting the invites.

 

[KHappe]

I’m just gonna go ahead here and be captain obvious. What you were asking for is what makes it better for the people waiting to purchase a non-foundation series. Not what’s better for a company whose sole existence is to make the most profit it can.

Per Tesla's mission statement it is not about how much money they make. They are all about getting EVs to the masses. Do they need to make enough money to stay afloat and to gap any unforseen obstacles, yes.
But they are not out to gouge people who want to buy an EV.
So, I don't think they are trying to make as much money as they can. Right now, I think they are trying to cover costs and get through the CyberTruck ramp.

 

[Cybertruck2024]

If they offer a non-FS truck before I get a delivery notice on my FS, then I will cancel my order. I imagine there's a ton of people who would do the same, it would be a slap in the face and a quick way for Tesla to lose millions of dollars.

I don't think they can start non-FS orders, until all FS have been delivered. Based on how many people are waiting and Tesla's own delivery estimates, which they are behind on currently, that will be "late 2024."

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