Tesla deliveries at low end of forecast, starting Model 3 production

Posted July 06, 2017

That marks an important milestone for the company-and for the electric vehicle industry-as Tesla gets closer to its goal of becoming a producer of mass-market electric cars.

Shares of the company rose by 3% on Monday from closing at $361.61 during Friday's market close after Musk tweeted the details of the Model 3 production on Sunday.

Tesla's first Model 3, the long-awaited electric auto that's priced for the mass-market is expected to roll off the factory floor Friday, the company said.

After the initial rollout, Tesla is slated to produce 100 Model 3s in August and more than 1,500 in September. In order to meet the schedule of its 400,000 pre-orders, the automaker is planning to manufacture approximately 20,000 units per month starting in December and onwards.

Bless you Goldman Sachs for finally calling a spade a spade on Tesla, Inc.

Tesla on Monday said it delivered 22,000 vehicles in the second quarter, fewer than analysts including Goldman's David Tamberrino had expected.

With the Model 3 launch imminent, the CEO has a lot on his plate right now, but we're sure he won't complain. That's almost as many vehicles as the company has delivered quarterly over the previous year.

The first 30 copies of the vehicle are expected to be delivered on July 28, Elon Musk said. For now, it looks as if people will only be able to choose Model 3 color and wheel size.

But others see Tesla as a technology and energy company rooted in its self-driving and battery production technology, which could mean that Tesla is now only a fraction of the size it could grow it.

Although Tesla Inc. has announced a $35,000 electric vehicle for the masses and General Motors Co.is selling the all-electric Chevy Bolt for a similar price, less-expensive hybrids are likely to sell more at least in the short run. (NASDAQ:TSLA) from a strong sell rating to a sell rating in a research report released on Tuesday, June 13th.

Tamberrino said he is concerned with the plateauing nature of Tesla's combined Model S and Model X deliveries.

Tesla says the five-seat vehicle will be able to go 346 kilometres on a single charge and will be sporty, accelerating from zero to 100km/h in under six seconds. Tesla has a market value of $58 billion, greater than either General Motors Co or Ford Motor Co. According to the company, the lack of delivery numbers can be attributed to issues with their battery production. While nothing close to the Model S' Ludicrous mode, the Model 3 is touted to have a sub 6-second time of 0-60 miles per hour, which squarely puts it in premium vehicle territory. For example, in the first half, Tesla delivered 47,100 cars, at the low end of its estimated range of 47,000 to 50,000.

But for now, Tesla itself is doing some work, as it obtained patents for new wheel design for the Model 3.