Tesla Inc (TSLA) Reports Record Vehicle Deliveries In Q3

CEO of Tesla Elon Musk is seen delivering speech at the wind and solar battery plant outside of Jamestown South

CEO of Tesla Elon Musk is seen delivering speech at the wind and solar battery plant outside of Jamestown South

The much-hyped, low-cost Tesla Model 3 is well behind the ambitious production goals CEO Elon Musk laid out earlier this year, as the company's third-quarter earnings report released today reveals that only 260 Model 3s have been produced since July. On Twitter, Musk said that production would grow exponentially and vowed to make roughly 100 of the cars in August and more than 1,500 in September, building to 20,000 cars per month in December. But so far that plan has failed. This was all-time best quarter for Model S and X deliveries, representing a 4.5% increase over third-quarter of 2016, the company said. The primary reason, it would seem, is bottlenecking - and a "handful" of manufacturing systems at both their Nevada Gigafactory and California vehicle plant "have taken longer to activate than expected". In its statement, Tesla said there were no fundamental issues with the auto or its supply chain and expressed confidence in fixing its issues. "We understand what needs to be fixed and we are confident of addressing the manufacturing bottleneck issues in the near term". If that prediction holds true, Tesla deliveries of its large cars will be up almost a third this year versus last year.

The Model 3 - touted as the first "mass-market" electric auto - will start at $35,000, reach 0 to 60 mph in 5.6 seconds and have a top speed of 130 miles per hour.

Remnants of Hurricanes Lee and Maria set to hit Ireland
The hurricane is now down to maximum winds of 75 miles per hour, and is expected to drop down to tropical storm levels soon. This disorganized area of shower and thunderstorm activity has a 40-percent-chance of being classified a tropical system.

"We believe Q3 will be the most challenging part of the Model 3 production ramp", he wrote.

But the company did not give any new production targets to replace the earlier prediction that it would be making 5,000 Model 3s a week by the end of the year. Tesla has published hugely optimistic Model 3 production forecasts in the past, and it still seems to be sticking by them. Initial deliveries of the Model 3 have primarily been to employees. Tesla said those vehicles would be counted in the third quarter.

Analyst Research and Ratings: Hess Midstream Partners LP (HESM), tronc, Inc. (TRNC)
The firm owned 152,570 shares of the oil and gas producer's stock after acquiring an additional 23,100 shares during the quarter. The investment professionals in our partner's database now have: 11.99 million shares, down from 12.35 million shares in 2017Q1.

Tesla and Musk struggled heavily to ramp up the production of the Model X, the company's crossover SUV with swooping doors.

Tesla reported that they expect to deliver around 100,000 Model S and Model X vehicles in the full year of 2017.

Louisville basketball may survive new scandal, with or without Rick Pitino
The conversation was caught by secret Federal Bureau of Investigation cameras placed in the room the day before. Jurich helped steer U of L football to national prominence and the school into the Atlantic Coast Conference.

"Elon's never made a number, ever", said Ross Gerber, chief executive officer of Gerber Kawasaki Wealth & Investment Management, which holds Tesla shares.

Recommended News

  • Raiders' QB Carr Out 2-6 Weeks With Back Injury

    Raiders' QB Carr Out 2-6 Weeks With Back Injury

    The Raiders (2-1) lost on Sunday night to the Redskins while the Broncos (2-1) had a surprising loss to the Bills in Buffalo. But defense was king in Denver , while Oakland hopes their Carr will be up and running next week against the Ravens.
    College basketball scandal fallout just beginning

    College basketball scandal fallout just beginning

    He called it "a very fluid situation". "They're excited about getting back to playing basketball". "No, you don't", he said. As to whether he would be the only coach when practice opens Sunday, he said, "That's something I'm trying to figure out".
    Trump interviews four for Fed chair job, to decide next month

    Trump interviews four for Fed chair job, to decide next month

    Warsh, who served on the board from 2006 to 2011, was a key adviser to Fed Chairman Ben Bernanke during the 2008 financial crisis. There has also been speculation that Trump could turn to his top economic aide, Gary Cohn, for the Fed chair position.
  • New York Sending More Help to Puerto Rico

    New York Sending More Help to Puerto Rico

    The governor says that this has left 9,500 shipping containers sitting in the port while citizens face shortages. Meanwhile, Puerto Ricans are waiting hours in line to get gas, food and cash. "This hurricane was catastrophic".

    All existing Nokia smartphones will get Android P update as well

    No other phone maker has made a statement like this but we don't know how Nokia is going to do it. The phones in question - Nokia 3, Nokia 5 and Nokia 6 arrived in Malaysia a few months ago.
    Prince Harry Meets Meghan Markle's Mum At The Invictus Games

    Prince Harry Meets Meghan Markle's Mum At The Invictus Games

    On Monday, Meghan and Harry made headlines when they made their first official public appearance together. October 1: It seems like Meghan Markle and Prince Harry's relationship is getting serious day by day.
  • McDonald's brings back Szechuan sauce

    McDonald's brings back Szechuan sauce

    McDonald's made the announcement Sunday that select locations will carry a limited amount of Szechuan Sauce next Saturday, Oct. 7. Apparently McDonald's are releasing a bunch of limited edition sauces to go with their new Buttermilk Crispy Tenders.
    GM lays out all-electric plan to go zero emissions

    GM lays out all-electric plan to go zero emissions

    GM will follow up its well-regarded Chevrolet Bolt EV with a slew of advanced new all-electric models, the company said on Monday. China has just laid out new guidelines for alternative propulsion and is now the world's biggest market for electrified vehicles.
    Ravens players kneel, pray for 'unity and justice' before national anthem

    Ravens players kneel, pray for 'unity and justice' before national anthem

    Demonstrations continued for a second week following President Trump's criticism of players who kneel during the anthem. Some on the Saints' sideline stood arm-in-arm on Sunday, and others had their hands over their hearts.
  • BSF jawan injured in sniping fire by Pak on LoC

    BSF jawan injured in sniping fire by Pak on LoC

    The meeting expressed serious concern over the unprovoked Pak shelling on civil population and strongly condemned it. Officials said Pakistani troops opened unprovoked and indiscriminate fire on Indian forward posts in Poonch .
    Abbott 'making it rain' in Houston, sort of

    Abbott 'making it rain' in Houston, sort of

    Councilman David Robinson, who had said he was open to a supporting the rate hike, also cheered Friday's announcement. The other $14 million goes to miscellaneous bills for Harvey damage and recovery.
    Wet weekend on tap for South Florida, thanks to tropical system

    Wet weekend on tap for South Florida, thanks to tropical system

    It has a 40 percent chance (medium) of developing into at least a tropical depression in the next 48 hours and five days. You can find it by searching "WPLG Local 10 Weather" in your iTunes or Google Play app stores.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.