A popular tech YouTuber, known for his gadget torture tests, has highlighted a significant discrepancy between Elon Musk’s past claims and current market realities. In a recent post, the creator pointed out that his 2018 Tesla Model X is now worth only a fraction of its original price, contradicting Musk’s assertion that Teslas with Full Self-Driving (FSD) capabilities would appreciate over time. This revelation comes amid growing dissatisfaction among Tesla owners who feel misled by unfulfilled promises.
The gap between Musk’s optimistic projections and actual market trends has widened significantly. While he once claimed Teslas were appreciating assets due to increasing FSD prices, the opposite has occurred. Used Teslas are depreciating at an alarming rate, and many buyers express regret over their investments, citing broken commitments regarding advanced self-driving features.
The Broken Promise of Appreciating Assets
Musk’s earlier statements positioned Tesla vehicles as long-term financial gains rather than mere expenses. He argued that rising FSD costs would enhance resale values. However, this vision has not materialized. Instead, used Teslas have seen steep declines in value, surpassing industry averages. Owners like Zack Nelson now face substantial losses on their purchases.
When Musk initially introduced the concept of Tesla being an appreciating asset, he envisioned a future where FSD upgrades would consistently increase vehicle worth. His optimism was fueled by predictions that Tesla would dominate the autonomous driving space. Yet, reality tells a different story. Data reveals that Tesla cars lose value three times faster than average automobiles. This trend undermines Musk’s original premise, leaving many buyers disillusioned. For instance, some Tesla enthusiasts shared stories of purchasing multiple units under the assumption they would grow in value, only to witness sharp drops instead.
Challenges in Delivering Autonomous Driving
Beyond depreciation concerns, Musk’s timeline for achieving full autonomy has proven overly ambitious. Since his bold declaration in 2015, deadlines have repeatedly shifted. Recently, Musk admitted the limitations of Tesla’s current hardware in enabling true self-driving capabilities. This acknowledgment highlights the challenges inherent in developing cutting-edge technology.
In 2015, Musk confidently declared self-driving technology as a “solved problem,” predicting widespread adoption within years. However, progress has been slower than anticipated. Technical hurdles and regulatory complexities have contributed to delays. During a recent earnings call, Musk described the realization about insufficient hardware as both painful and difficult. Critics argue that Tesla prioritizes futuristic goals, such as its robotaxi network, over delivering promised functionalities already sold to customers. This approach has sparked frustration among those who purchased vehicles based on assurances of advanced autonomous features. As a result, trust in Musk’s technological forecasts has waned, prompting skepticism about future developments.