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"'Our financials are better than they appear; not worse'" Cramer said, quoting Musk. "At the end of the day, Tesla lost $10,000 per car [last quarter]."
Cramer made his comments on "Squawk on the Street " a day after the automaker posted a loss of earnings per share of 13 cents on revenue of $1.1 billion. Wall Street expected the company to post earnings of 31 cents per share on revenue of about $1.23 billion, according to Thomson Reuters. The company cited weather and shipping problems for its poor quarter.
Read More 7 ways to trade oil and Tesla
"This company should be stickered as not a real company," Cramer said. He added that before Wednesday's conference call, he thought the automaker could be a "huge company" by 2025.
"This conference call was a rubicon that I have rarely seen crossed in my career," Cramer said. "Curly, Larry and Moe could do a better conference call."
In addition to the Three Stooges reference, Cramer zinged Musk for likening Tesla to Apple.
"When you go and compare yourself to Apple, I'm going to come back and compare you to another gold-winged problem: The DeLorean. If you say you're going to be able to make fortunes in 2020, I'm going to compare you to companies that do not stay in business."
Disclosure: Cramer's trust owned Apple's stock when this story was published.