Tesla CEO Musk Admits Fault for Creative Finance Calculator
Tesla CEO Elon Musk has admitted that the automaker’s online finance calculator was misleading and has confirmed it will be fixed to not include non-financial factors in the online monthly payment.
Musk admitted fault with the calculator during a conference call on Friday, stating that Tesla was in the wrong, and the media was right to criticize it. The online calculator displays the monthly cost of owning a Tesla under its lease-to-buy offer. Problem is, the calculator included factors such as time saved by not having to pump gas, helping lower the monthly payment presented to shoppers with non-cash savings.
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Tesla will be fixing the online calculator so that the cost savings estimates are more conservative.
“We were wrong, those people were right,” he said. “We need to fix it.”
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By Jason Siu