Monday, 24 September, 2018


Elon Musk Jokes About Tesla Bankruptcy: Odds It Actually Happens

Elon Musk Jokes About Tesla Bankruptcy: Odds It Actually Happens Elon Musk Jokes About Tesla Bankruptcy: Odds It Actually Happens
Conrad Doyle | 05 April, 2018, 00:53

Taking is a step further, Tesla, Inc. has posted earnings per share growth for the last five years of -15.20%. This includes both production delays and the delay of high-profile options such as all-wheel drive and the standard battery which will finally enable the Model 3 to hit its highly touted $35,000 price tag.

The tweet comes after a string of setbacks to production of Tesla's Model 3, which the company released in July 2017 with a batch of 30 vehicles sold exclusively to members of staff. "Any such "beat" is unlikely to be sustainable, and questions remain on Tesla's ability to sustainably reach 2,500 a week, let alone 5,000 a week".

The production numbers, while short of Tesla's own target, are far above the 793 Model 3s built in the final week of a year ago.

That production total included 24,728 Model S and Model X vehicles, and 9,766 Model 3s. (He did the same a few years back, helping get production of the Model X SUV up to speed.) "Car biz is hell", Musk said on Twitter (amid a debate with The Information reporter Amir Efrati).

For Tesla Inc. investors, the question isn't whether Elon Musk will meet his diminished target this week for Model 3 vehicle production. That's obviously not the case but there has been intense scrutiny over the slow rollout of the Model 3 and upcoming debt payments. The electric carmaker produced 2,020 Model 3 vehicles in the last week of March, short of the 2,500 per week goal it has promised customers and investors this year.

This week brought another mixed bag of good and not-so-good news.

While other autos imported from the USA were also on the list, including most types of 4x4s, Tesla is at a particular risk because it relies on American-made vehicles for all its Chinese sales.

Tesla expects the Model 3 production rate to rise rapidly through Q2 and is targeting a production rate of approximately 5,000 units per week in about three months.

Some analysts said there were signs that the company might have prioritized the cheaper vehicle, seen as crucial to its profitability, over its Model X SUV and more-established and expensive Model S sedan. At the time, Tesla was dealing with a spate of Model X quality control issues and Musk, keen on staying abreast of critical issues as they arose, explained that he was putting in long nights at the company's California factory.

Production accelerating so fast it may soon "exceed even that of Ford and the Model T".

Tesla also said it wouldn't have to issue equity or debt this year to raise money-an ambitious statement given the company's deeply negative cash flow in recent quarters.

Tesla's problem, unfortunately, isn't rocket science.

After Tesla discovered a steering defect in the Model S cars, the company voluntarily recalled 123,000 Model S models for garage repairs.

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