Tesla Model 3 production off to a slow start


10 Octubre, 2017

On Monday afternoon Tesla sent out a press release detailing vehicle deliveries for the quarter, and the missive carried mixed news.

It is important to emphasize that there are no fundamental issues with the Model 3 production or supply chain.

Investors are missing the big picture with Tesla by worrying about rounding errors on whether Tesla missed or beat delivery guidance by 1,000 units.

The Model 3 is Tesla's attempt to enter the mainstream.

While the car has seen over 500,000 preorders, Tesla's delivery of only 260 of the vehicles in Q3 can't be painted as anything but a negative.

The Model 3's success is critical, demonstrating that Tesla can cultivate a much wider market for its vehicles - going up against increasingly electrified incumbent automakers over time - and that the manufacturing prowess of which CEO Elon Musk has boasted repeatedly is real. During a May financial call, Musk said he hoped for "5,000 vehicles per week at some point in 2017, and".

Tesla shares slipped 1.1 percent to $337.87 as of 4:51 p.m.in New York, after the close of regular trading.

Certain statements herein, including statements regarding future deliveries of Model S and Model X and production of Model 3, are "forward-looking statements" that are subject to risks and uncertainties.

Model 3 only started production in July and orders have topped 450,000 vehicles, he said.

"We see the 5k a week production goal to exit 2017 at risk given the lack of disclosure provided in fixing the 'handful' of subsystems that are taking longer than expected", said Cowen and Co analysts, who already rate Tesla an underperform.

GM on Monday also outlined plans to add 20 new battery electric and fuel cell vehicles to its global lineup by 2023.

But a number of analysts from some of the major brokerages who have backed the stock through a 60 percent rise this year said the shortfalls were normal for a fledgling car company and offered an opportunity to buy the stock. His price target is $317, and he outlines a "bull case" for the stock hitting $526. Tesla, however, highlighted deliveries of its more time-tested models-in Q3, the company delivered 25,930 model S and X vehicles, which is a record for the electric vehicle startup.

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