Tesla Model 3 delay gives buyers tax credit concern

Tesla Model 3 delay gives buyers tax credit concern

Tesla Model 3 delay gives buyers tax credit concern

While Tesla's true believers love these stunts, some analysts are questioning whether Musk should be spending more time fixing Tesla's woes. The Palo Alto, California-based automaker is struggling to meet production targets for its first mass-market auto, the Model 3 sedan. Tesla reported a quarterly loss of $771 million on $3.3 billion in revenue.

"Even this Tesla realist and Model 3 deposit holder has doubts about Tesla ramping up to 10,000 units/week, essentially promising production levels of over 250,000 units in 2018", said Rebecca Lindland, executive analyst at Kelley Blue Book's KBB.com.

He also explained that the company could have done the coast-to-coast drive previous year but it would have had to so with a lot of custom code which would have essentially seen Tesla "gaming" the demonstration.

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Enter the Model 3, which starts at $35,000 and has received a "strong response from millennials", according to Anand. "The competitive strength of Tesla long-term is not the auto, it's the factory", said Musk.

Musk admitted this week: "Module production is the limiting factor in Model 3 production, which is ironic because that should be the thing we're best at".

Tesla said it continues to target weekly Model 3 production rates of 2,500 by the end of the first quarter and 5,000 by the end of the second quarter.

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Tesla expects that to happen before the end of the quarter.

Now, all Tesla has to do is figure out how to make the Model 3 fast enough to keep up with demand. In regards to production problems with the Model 3, Musk added, "I'm hopeful that people think that if we can send a Roadster to the asteroid belt, we could probably solve Model 3 production". While Tesla is working through significant production delays with the vehicle, early reviews from customers who have received it tend to be positive.

CEO PAY: This will be Musk's first earnings call since last month's announcement of a proposed all-or-nothing pay package for him. All of that work is many, many years in the future.

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"That seemed extremely boring", said Musk of settling for concrete or steel blocks. Musk reportedly said his rocket is a game-changer in terms of profitability.

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