Tesla the “ultimate high-risk name in autos” says Morgan Stanley analyst, pointing to Model 3 production
Wednesday, 18 April 2018 Tesla Inc’s (NASDAQ:TSLA) new production goal is 6,000 Model 3 cars per week by the end of June, according to a report by Electrek, an auto news website. In a letter to employees, CEO Elon Musk said that by producing 6,000 electric cars per week, the company would be able to reach its goal of 5,000 cars per week while allowing for a margin of error. The electric car company projected in January that it would produce 2,500 Model 3s per week by the end of 2018. However, a report by Jalopnik revealed that it’s only producing around 2,000 per week. Musk blamed the discrepancy on “excessive automation.” READ: Tesla halts production of Model 3 to iron out issues Racing to meet the production goal, Musk took charge of the production line as of April, claiming that he is up all night and sleeps on the factory floor. Tesla announced on Tuesday that it was halting production to address the issues slowing down Model 3 production. The company later announced that the California factory will be assembling the cars on a 24/7 schedule. READ: Goldman turns bearish on Tesla, sees slump ahead; Elon Musk pushes back in Tweet While Tesla has been in the news for myriad issues lately, the factor that matters is how the demand for the Model 3 is affected, according to KeyBanc analyst Brad Erickson in a note obtained by TheFly.com. Contrary to the bearish sentiment that demand has already taken a hit, Erickson reiterated a Sector Weight rating on Tesla shares. Morgan Stanley analysts referred to Tesla as the “ultimate high-risk name in autos”, estimating that Model 3 production won’t reach 5,000 cars per week until either the third or fourth quarter, in a note shared by TheFly.com. Analyst Adam Jones reaffirmed an Equal Weight rating on Tesla shares and lowered his price target on the stock to US$376 from US$379. Shares of Tesla were up 5 points to US$293 in pre-market trading on Wednesday.
Tesla is temporarily halting its troubled Model 3 sedan production line. The decision comes just a week after CEO Elon Musk told CBS News he felt confident Tesla could emerge from what he called "production hell." Tesla says the shutdown starts Tuesday and will last until Saturday. The automaker...
Consumer Reports did not recommend Tesla Inc’s Model 3 sedan after conducting a review of the vehicle, citing concerns about the car’s stopping distance and... Proactive Investors - BusinessAlso reported by •MotorAuthority •RTTNews
Tesla Inc. (NASDAQ:TSLA) chief executive officer Elon Musk on Sunday tweeted the specifications for two new versions of the firm’s key Model 3 electric car,... Proactive Investors - BusinessAlso reported by •ExtremeTech •RTTNews
BEIJING (Reuters) - Tesla Inc has slashed up to $14,000 off its Model X in China after Beijing announced major tariff cuts for imported automobiles, a potential... Reuters - BusinessAlso reported by •RTTNews
San Francisco (AFP) May 14, 2018
Tesla chief Elon Musk told employees Monday the electric carmaker is being reorganized to speed up production of Model 3... Energy Daily - ScienceAlso reported by •MailOnline
Jake Fisher, director of auto testing at Consumer Reports, talked with Elon Musk, who said he's planning to fix the Model 3's braking distance issue with a remote update, possibly as soon as this.. Source: Cheddar Inc. -
Tesla Inc has slashed up to $14,000 off its Model X in China after Beijing announced major tariff cuts for imported automobiles, a potential sales boost for the U.S. firm as the world’s largest auto.. Source: Wochit -
Consumer Reports has not given a recommendation to the Tesla Model 3.
The agency had issues with the electric car’s emergency braking performance and user controls.
Tesla defended itself, citing.. Source: Wochit -
On Monday, Consumer Reports declined to recommend the Tesla Model 3 after testing several vehicles and detecting a serious problem with their braking distances.
As my colleague Mark Matousek reported,.. Source: Wochit -
Grimes said on Twitter that Tesla CEO Elon Musk has not prevented Tesla employees from unionizing. "He has never prevented them from unionizing it's quite literally fake news. trust me, i've.. Source: Wochit Business -
After a review by Consumer Reports criticized the braking ability of the Tesla Model 3, Elon Musk has responded.
According to Tesla's CEO, he thinks braking issues with the mass market electric car.. Source: Wochit -
Chief Executive Officer Elon Musk said late on Monday that the braking issue on Tesla Inc’s Model 3 sedan, pointed out by Consumer Reports, can be fixed with a firmware update which the electric car.. Source: Wochit -