by Deferred Dream: Tesla Roadster Eight Years After Announcement
Eight years have passed since Tesla promised to release the second-generation Roadster, but the car still hasn’t entered serial production. In 2017, the company assured customers that production would begin by 2020, and many paid $5000 for a pre-order, followed by another $45000 as a deposit. However, the project remains at the stage of renders, prototypes, and social media posts.
Complicated Refund Process
Many of those who paid for the Roadster did not know for a long time how to cancel the order and get their money back. As the experience of YouTuber Marques Brownlee, known as MKBHD, showed, this process turned out to be not simple. He said he tried to contact Tesla through the app, received a phone number, but his call went to voicemail. When he did manage to speak with a company representative, the representative admitted not knowing how to process the cancellation but promised to resolve the issue.
Refunds and Lost Opportunities
After prolonged efforts, Tesla confirmed it would return Brownlee’s $45,000 deposit, but not the $5,000 paid for the pre-order. However, a week later, the company still returned the full amount, possibly realizing that its website states the full refundability of these funds. This money was likely used to finance the development of the Roadster or other models, or was held in accounts, accumulating interest.
Interesting fact: if Brownlee had invested $50,000 in Tesla stock in 2017, when its price was about $22, instead of reserving a car that still doesn’t exist, his investment would be worth over $1 million today, considering the current stock price of $454.
The Roadster story serves as a reminder of the risks associated with investing in innovative projects that can drag on for years. While Tesla has achieved significant success in the electric vehicle industry, such cases highlight the importance of careful planning and alternative options for investors. Meanwhile, customers still waiting for their cars might consider reallocating their funds into more predictable assets.
