Tesla recently pushed their 15-day refund period to 45 days, irritating some customers.
When you’re like Tesla, and you’re looking to build a new car, you need all the cash flow you can get. In the case of the Model 3, some are starting to cancel their orders. By doing so, they’re expecting to get their $2,500 deposit back from Tesla in short order. However, as one post on Reddit points out, the wait just got much longer. On the FAQ page for Tesla Model 3 orders and delivery, the company changed the period in which they handle refunds.
Instead of waiting up to 15 business days to get a refund, it can take up to 45 business days. Now, we’re talking business days here in the U.S., which means that it can actually take more than two months for customers to get their refunds after submitting a request.
So what does that actually mean? Sources close to TFL contend the company could be short on cash. As a result, the company may be taking longer to process refunds as they’re juggling that with ramping up production. By and large, most customers also receive refunds by check, which can take a longer time to process.
Another theory is that Tesla may soon undergo restructuring. This tweet from Charles Gasparino – a senior correspondent for Fox Business – reported that Tesla’s board retained crisis communications firm Joele Frank to help manage the company’s image as CEO Elon Musk aims to take Tesla private.
Scoop — crisis communications firm Joele Frank has been specifically retained by the special committee of the @Tesla board to image repair as company attempts a privatization more on this w @LizClaman @FoxBusiness 330pm
— Charles Gasparino (@CGasparino) August 22, 2018
Some signs point to Tesla’s intended buyout to take it private could be key to the company’s future. Without that, the company may face Chapter 11 bankruptcy. Stay tuned to TFLcar.com for more updates.