07 July, 2017
"We believe the excess production above deliveries, the discontinued "order rate" metrics, and the company's 2H17 guidance (Model S and Model X deliveries to likely exceed) in combination with the past four quarters of delivery results point to a plateauing of demand for its current products", Tamberrino and his colleagues wrote in a note released Wednesday.
The key to the outperformance will be the Model 3, researchers noted.
Sales included 12,000 Model S sedans and 10,000 Model X crossovers. That's down from an earlier estimate of 13 percent.
Priced at $35,000 before federal tax credits and other rebates, the Tesla Model 3 takes the high-end performance and luxurious design of the Model S-which ranges between $88,500 and $150,000-and distils it into a less costly package. The model has passed all regulatory requirements for production two weeks ahead of schedule, he said. The first 30 private owners will get their cars on July 28 in the now customary Tesla launch party, and production is said to grow exponentially from there.
In 2Q17, Tesla (TSLA) delivered more than 22,000 cars to its customers.
Worldpay shares surge on takeover approaches
It said in a statement: "There can be no certainty either that an offer will be made nor as to the terms of any offer, if made". Worldpay processes payment transactions in 146 countries and maintains a major hold over the processing market in Britain.
Tesla's shares are shaping up to possibly have their worst week of the year so far as lower-than-predictable production, raised competition and a review from an industry group weigh on the electric carmaker.
Tesla shares finished down 2.5% at $352.62 following the shortened trading session on Monday and are today down over 5%.
Even when Mr. Musk laid out an updated Tesla "master plan", with a pledge to expand beyond electric cars into battery-powered pickups, semitrailer trucks and buses, and to equip them with advanced self-driving systems, the stock remained at about the same level. Finally, recall that the Tesla Model 3 is the first auto company Tesla Motors is working on the motor and focused on General consumers.
Tesla investors have sent the stock up above the $300 level due to the optimism surrounding the release of the Model 3 after it received nearly half a million in pre-orders.
While Tesla has proven its ability to produce attractive and capable luxury vehicles, observers are now focused on the company's readiness to make them in higher volumes. With electric cars sales numbers steadily increasing thanks in part to the effort of Elon Musk, Tesla could find itself in the middle of a gold mine, assuming that everything goes smoothly.