Sci-tech

Tesla averages more than 1800 Model 3 reservations a day

Tesla averages more than 1800 Model 3 reservations a day”

As I mused back in May, it may be even more logical to develop a larger (or modular) SUV platform that could replace the tricksy Model X and also underpin Tesla's promised future pickup truck model, so we'll see if that's the direction they head.

Model X net orders in Q2 up more than 20%, both quarter-on-quarter and as compared to second quarter of 2016, Tesla says.

"The first Solar Roof installations have been completed recently at the homes of our employees, who we chose to be our first customers to help ideal all aspects of Solar Roof customer experience". "This is version one", he said. "I still think we want to do the insane thing in the future, but we'll bump that until after the compact SUV".

But most of the attention was focused on the Model 3, which was delivered to its first 30 customers - all Tesla employees - last week.

"This is maybe the best I've ever felt about Tesla to be frank", he continued.

Given how important the Model 3 is to Tesla's business, it's not surprising that the company's second-quarter update provided lots of information about the $35,000 vehicle.

Investors however, seem undeterred.

David and Tom just revealed what they believe are the 10 best stocks for investors to buy right now. and Tesla wasn't one of them!

"This of course raises questions about Tesla's broader ability to scale not just its manufacturing operation, but the entire supporting infrastructure, particularly since Tesla continues to insist it will run all its operations in-house", Thibault said. Tesla shares were up more than 7 percent in extended trading.

Market watchers surveyed by Bloomberg estimated a company loss of $450 million, or $2.34 per share, on revenue of $2.5 billion.

Musk said that Tesla is trying to keep its spending on the Solar Roof and the Buffalo factory over the next few months "relatively light".

While the product is still not widely available, Tesla is still deploying regular solar panels where it makes sense.

Tesla produced 25,708 vehicles in the second quarter, up 40% from the same period a year earlier. In the absence of these one-time elevated cost allocations, Model 3 gross margin in Q3 would already be positive, resulting in a positive cash contribution. The company's operating expenses actually decreased compared to Q1 2017, despite spending nearly $48 million more on research and development.

However, unless that position improves in 2018, Tesla will be running low on cash by its own standards. The brand is now gone, many employees have been laid off and both SolarCity CEO and CTO - Elon's cousins Lyndon and Peter Rive - have now left the company. Company fiscal year is ending in December and analysts' consensus recommendation is Hold for TSLA and estimated EPS for next quarter is $ -1.52.



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