Tesla has bad news if you're waiting for a Model 3

Adjust Comment Print

How quickly it will be able to resolve those problem is far from uncertain, and a new report from automotive analysts at UBS warned this week that, "competing EVs are coming, and a long delay could reduce (Tesla's) market share opportunity". Tesla has a 52-week low of $178.19 and a 52-week high of $389.61.

"We believe the Model 3 ramp is one to two months behind schedule, but are not concerned as TSLA successfully ramped production of the Model S and Model X, which are more complicated vehicles, and we are confident TSLA will achieve its production targets over the intermediate term", declared Ben Kallo, an analyst at Baird.

And the problems will continue.

Electric-car maker Tesla (TSLA) swung to a $671 million loss in the third quarter as it struggled to ramp up production of its new Model 3 small vehicle.

Tesla said it had record net orders and deliveries of its Model S and Model X in the third quarter. It churned out just 260, Tesla said earlier this month.

Tesla reported a net loss of about $619.4 million, or $3.70 per share, compared to a net income of almost $21.9 million, or 14 cents a share, a year ago. The electric auto giant reported a loss of $3.70 per share on revenue of $2.98 billion.

Navy investigating 2 SEALs for strangling death of Green Beret
Melgar's superiors in Germany suspected foul play and immediately sent an investigator to the scene, the newspaper reported. The case was handed off last month to the Naval Criminal Investigative Service but no one has been charged as yet.


Tesla had other significant expenses.

Tesla initially planned to achieve that target in December. The company opened 18 stores and service stations worldwide during the quarter, and set up 126 new Supercharger stations to try to prepare for the increase in demand from Model 3 buyers.

By the time trading ended on Wall Street on Wednesday, TSLA shares were down 3.15% to $321.08. But the company clarified Wednesday that its Gigafactory plant in Nevada, which assembles battery packs for the Model 3, is "the primary production constraint" for the cars.

Tesla's revenue rose 30 percent to $2.9 billion for the quarter, in line with analysts' expectations.

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The company says it's on track to deliver 100,000 Model S and Model X vehicles in 2017, up 30 percent from 2016. The shares have risen 45 percent since the start of this year.

Results from electric cars maker Tesla Inc (NASDAQ:TSLA) are likely to be all about the ramp-up of production of the new model 3. Sustainable energy generation and storage is a critical part of Tesla's mission and will drive long-term revenue growth and profits.

Comments