“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.