jh-siesta.com
jh-siesta.com January 22, 2018


Tesla production snags delay Model 3 electric auto

02 November 2017, 12:24 | Sammy Green

Trend-Spotting Tool Analysis – QUALCOMM Incorporated (NASDAQ: QCOM)

Tesla Model 3 production ramp-up the key issue in this evening's results statement

"While we continue to make significant progress each week in fixing Model 3 bottlenecks, the nature of manufacturing challenges during a ramp such as this makes it hard to predict exactly how long it will take for all bottlenecks to be cleared or when new ones will appear", the company said.

Tesla said there are no issues with its supply chain.

The company will also be reducing production of its luxury vehicles, the Model S and Model X, to reallocate those resources to the Model 3.

Tesla's negative free cash flow swelled to $1.4 billion, more than analysts had expected.

The automaker said Wednesday in its third quarter earnings report that Model 3 production has been slowed by progress at its Gigafactory, now saying it will reach its goal of producing 5,000 of the vehicles per week by early 2018, rather than the end of 2017. With several hundred thousand people placing refundable deposits for the vehicle, anyone who orders a auto now is unlikely to receive it until at least 2019, and possibly later. Tesla said it was redesigning two parts of the battery assembly process, "key elements of which were done by manufacturing systems suppliers", to streamline its automated manufacturing process. Year-to-date, TSLA has gained 55.15%, versus a 16.68% rise in the benchmark S&P 500 index during the same period.

Tesla's soaring stock has made the company the second-most valuable USA automaker behind General Motors Co (GM.N), which had annual net profit of $9.4 billion in 2016.


Still, the company said the Model 3 would overcome those challenges and hit a breakeven point in gross profit margin by the fourth quarter of 2018.

Tesla could face major new requirements for cash given Model 3 problems, a possible factory in China, and plans to develop other vehicles, including an electric heavy duty truck.

The company says it's on pace to deliver 100K vehicles for the full year.

Tesla, Inc. (NASDAQ:TSLA) last session's volume of 5.64 million shares was lower than its average volume of 5.76 million shares. Can now owns 69,562 shares of the electric vehicle producer's stock worth $25,129,000 after buying an additional 1,802 shares during the last quarter.

The news wasn't entirely bad for Tesla, however, the carmaker reporting revenues for the third quarter of $2.98 billion, a record, and up from the consensus forecast of $2.95 billion.



Other News

Trending Now

Iowa City Police Department prepares for National Prescription Drug Take-Back Day
Officials also cautioned people about potential health hazards when they flush medicines in the toilet or throw them in the trash. Since beginning the take back program, the DEA and its partners have taken in over 4,050 tons of prescription medications.

Plane carrying OKC Thunder dented by bird while landing at Midway
Nobody on the plane was injured, however, the plane was left with a huge dent in the nose . The team landed safely at Chicago's Midway Airport after 1:00 a.m.

Unlikely to return this season
Of particular note to Celtics fans, Stevens wouldn't declare whether or not Hayward's injury is season-ending. Hayward , who was a free agent, signed a four-year, $128 million contract with the Celtics on July 1.

Blac Chyna Sues the "Powerful, Vindictive" Kardashian Family for "Significant Damages"
Added Bloom: "Even though Chyna left Rob at the end of 2016, the network was still interested in doing season two of the show". According to the suit, Chyna was said to suffer "pain and difficulty of walking" for some days after the physical abuse.

Probes Open Into FBI's Handling on Uranium Deal, Email Server
Taylor calls the subpoena "an abuse of authority" given that the committee chairman who signed it, Republican Rep. Last week, the Senate Judiciary Committee also announced that it would be investigating the matter.

Winx creates history in 3rd Cox Plate win
The victory extended Winx's winning streak to 22 in a row, and equaled sprint queen Black Caviar's Australian record of 15 group 1 wins.

State records first flu-related death for the season
People are often indoors during the winter, meaning that they are in direct or close-contact with one another more often. That's down from 37.2 per cent in the 2015-16 flu season, and "well below" the provincial average of 53.1 per cent.

Trump asks supporters to sign 'Stand for the National Anthem' petition
The owners chose to not force players to stand for the anthem, and Goodell was clearly displeased, but supported the decision. Trump responded to Goodell's approach with impatience. " Too much talk, not enough action ", he said.

Trump declares public health emergency in response to national opioid epidemic
The administration would have to work with Congress to help provide additional funding to address drug abuse, they added. Overdose deaths in ME have climbed at a rate that has been among the highest of any state over the past four years.

Raiders score on final play to beat Chiefs 31-30
The push off by Crabtree on Marcus Peters was rather obvious, but it left three seconds on the clock for the Raiders to work with. Carr had his best game of the season, throwing for 417 yards with three touchdowns, no interceptions, and no sacks.