Tesla installs solar roofs at Elon Musk residence and employee homes

05 August, 2017, 00:22 | Author: Celia Hoffman
  • 3 New Must Read Quotes From Tesla Inc.'s Elon Musk

With the company just shipping the first 30 of its high-volume Model 3 units on July 28, CEO Elon Musk had fun rubbing in the pain by tweeting: "Stormy weather in shortsville".

But the Model 3 isn't the only Tesla model in demand, production in other areas is also growing fast.

Leading up to the launch of the Model 3, it was highly unlikely that Tesla would post a profit.

The Model 3 is created to provide Tesla with gross margins "comparable to Model S and Model X as production scales into 2018", even without tax and other government incentive programs, which should mean the demand will translate well into benefit for its bottom line, once it can get over the production hump and start making them at scale. The company said it is actually seeing an increase in orders for its luxury Model S vehicles, despite the launch of a cheaper model. Musk said on Twitter in late March that he was "noticing that many people think Model 3 is the "next version" of a Tesla, like iPhone 2 vs 3".

Senior Analyst Clement Thibault reported another problem with customer support and especially refunding the $1,000 deposit buyers had to pay in order to reserve a Model 3.

Similarly, Baird analyst Ben Kallo said in a note sent Monday that though Tesla aims to produce 500,000 vehicles in 2018, "we continue to be conservative in our estimates (we model 310k total vehicles)".

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Tesla CEO Elon Musk said today the forthcoming Model Y electric crossover vehicle will be built on a similar architecture to the recently released Model 3, in an effort to bring the auto to market sooner.

Yeah, the new Model 3 is good.

Also on Thursday, Consumer Reports said GM's Chevrolet Bolt electric vehicle, priced at $US37,495, reached 250 miles (402km) on a single charge, beating out Tesla's 2016 Model S 75D and 2016 Model X 90D.

Tesla produced 25,708 vehicles in the second quarter, up 40 per cent from the same period a year earlier.

The company's net loss attributable to shareholders widened to $336.4 million, from $293.2 million a year earlier. The electric automaker states that its "production ramp will follow an S-curve, meaning that it will begin slowly, grow exponentially, then start to tail off" as it approaches full production.

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