Tesla jumps on delivery promises

“Tesla (TSLA) was trading sharply higher in early trading — despite a sharp decline in the broader market. The luxury electric automaker assured investors it can start turning a profit this year and said production targets remain on track,” Reuters is reporting.  “This comes after Tesla reported an unexpected big loss for the fourth quarter due to huge costs related to developing two new models.

“Tesla CEO Elon Musk said on Twitter early Thursday that pre-orders of the Model 3 would start in stores March 31 and online April 1,” according to USA Today. “The company has said the car would become available in late 2017 though analysts from Barclays and Morgan Stanley say mid- to late- 2018 is more realistic.”

“The Model 3 will start at about $35,000 after tax rebates, Musk has said. GM said its Chevrolet Bolt, which will start at $30,000 after rebates and get 200 miles on a charge, will start production in late 2016, USA Today said.

Author: jeffpelline

Jeff Pelline is a veteran editor and award-winning journalist - in print and online. He is publisher of Sierra FoodWineArt magazine and its website SierraCulture.com. Jeff covered business and technology for The San Francisco Chronicle for years, was a founding editor and Editor of CNET News, and was Editor of The Union, a 145-year-old newspaper in Grass Valley. Jeff has a bachelor's degree from UC Berkeley and a master's from Northwestern University. His hobbies include sailing and trout fishing.

2 thoughts on “Tesla jumps on delivery promises”

  1. The sock puppet on Todd’s blog is pointing to the latest quarterly loss, painting Tesla as doomed — but he’s ignoring the bullish outlook for a $35K car. He writes: “The lefties just love Tesla and Mr. Musk.” Todd responds: “That reminds me of the automobile brand from the movie “Robocop” SUX!”

    Todd and his sock puppets are “chain smoking dinosaurs” — right in our own backyard.

  2. I am looking forward to these vehicles, and self driving ones as well. If driving was such a joy, then why haven’t closed tracks taken off like wildfire? There should be a lot of money in those, and the Todd’s and Greg Goodknights of the world can take turns rolling coal on one another.

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