Why Tesla Model 3 Deliveries Missed the Mark

06 January, 2018, 01:42 | Author: Delbert Rhodes
  • The car used for the journey.
Image Alex Roy  Twitter

In a release on Wednesday afternoon, the company run by billionaire entrepreneur Elon Musk said it plans to hit a milestone of making 5,000 Model 3 vehicles per week by the end of the second quarter of this year. Tesla initially intended on reaching this mark at the end of December. "They don't have a ton of wiggle room though in our view", Spak said.

Thursday's drop is a welcome sign for traders who have been loading up on bets against Tesla.

"We believe a fundraise will be necessary for Tesla in 2018", Brian Johnson, an analyst at Barclays, wrote in a report to clients Thursday. For the year gone by, Tesla delivered 102,432 vehicles, a solid increase from the 83,922 vehicles it delivered in 2016.

Despite continued headwinds with the Model 3, Tesla did manage to deliver more of its Model X, Model S, and Model 3 vehicles than in previous quarters. "Looks like we can reach 20,000 Model 3 cars per month in Dec", Musk tweeted back in January.

It'll take Tesla another three months to double that number.

Robert W. Baird & Co. analyst Ben Kallo said he sees Tesla having enough cash and additional liquidity sources to get through the revised 5,000-a-week schedule, meaning no capital raise will be required in the first half of this year.

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Still, it was able to complete the cross-country journey in just 50 hours, using $100 to charge their Model 3 in that time. Shares have been under pressure lately but still give the company a market value of about $53 billion, analysts say.

"We're also very appreciative of our Model 3 customers, who continue to stick by us while patiently waiting for their cars". In Q3 2017 only 220 Model 3 c. "Once you have it right you can ramp really quickly, but getting to that phase is the hard part".

Tesla ended September with about US$3.5b cash in hand and projected another $1b in capital expenditures during the last three months of the year. Critics point out that the company's unprecedented rush to ramp up production puts it at risk of delays and costly recalls if quality issues arise.

The company may need to raise another $1 billion to $1.5 billion over the next six months, Osborne said Thursday on Bloomberg Television. However, this model is being watched particularly closely as it is widely thought that this is the vehicle that will make or break Tesla.

The company said it has made "major progress" toward eliminating Model 3 production bottlenecks.

"As we continue to focus on quality and efficiency rather than simply pushing for the highest possible volume in the shortest period of time", Tesla said in a press release, "we expect to have a slightly more gradual ramp through Q1, likely ending the quarter at a weekly rate of about 2,500 Model 3 vehicles". But Tesla has skipped many incremental steps used by established carmakers when launching new products. Tesla said it was its "all-time best quarter" for combined Model S and Model X deliveries.

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