Tesla, which prior to allegations of roofs flying off and sand pouring out of rear bumpers was most famously known for its $409 billion market cap, has now decided to forego its 7-day return policy.
Tesla appears to be under the assumption that its exceptional service thus far finally warranted a cutback. However, such a self-admiration is far from reality. The reality is that Tesla has been bombarded with a series of complaints – ranging anywhere from autopilot complications to vehicle parts falling off – and has yet to address any of them in a timely manner.
But now, according to Electrek, Tesla has removed its ‘no questions asked’ 7-day return policy from its website. The pro-Tesla blog noticed that when one tried to go to the return policy webpage, they were instead redirected back to the homepage. Prior to the return policy’s apparent disappearance, unsatisfied customers were able to return the vehicle hassle-free provided that there was less than 1,000km on the car and no damage.
So far, it is unclear as to why Tesla removed the policy from its website, but given its track record of allegedly poorly built cars and red flags emerging from the re-sale of its vehicles, there may be some deeper problems emerging on the horizon. Not to mention, Tesla’s decision to cut Model S prices in China for the seventh time this year and for the second time in the US, it appears that the $409 billion market cap may pivoting on the verge of fantasy.
Information for this briefing was found via Electrek. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.