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Tesla Motors Inc. fell in extended trading after the electric-car maker backed off its full-year vehicle sales forecast.
Tesla said it now aims to deliver 50,000 to 55,000 vehicles this year, compared with a previous target of 55,000. The company sees third-quarter production and deliveries of just more than 12,000 vehicles including just a few Model X sport utility vehicles.
Reaching the initial target may be a stretch because some interior suppliers might not be able to increase the flow of high-quality parts fast enough to meet the Model X production plan, Chief Executive Officer Elon Musk said on a conference call with analysts. Because the SUV and the existing Model S share the same assembly line, a shortfall by one Model X supplier could slow output of both vehicles.
All is not wine and roses at Tesla, despite the glowing press they receive.
Original Submission
(Score: 4, Insightful) by Rich on Friday August 07 2015, @08:04PM
Elon Musk himself probably would not even care if angry investors throw him out of his company for lack of rising stock and dividends - as long as the company manages to make electric cars a commodity.
Look at the "lunar roving vehicle", a dune buggy that cost $38M in then-dollars. He doesn't want to spend that sum each four vehicles that lack all creature comforts. He'll have a nice car with all luxuries for 1/1000 the price in today-dollars. To get these, it was just easier for him to disrupt the entire car industry to the point where E-cars become a reliable commodity. After that, he wouldn't even need his Mars cars to be Teslas.
Of course, he'd need some other stuff to be a hip martian. Like, for example, space ships, or solar power plants. Man, if he'd actually open a spaceship factory, too, and a business for solar power plants, his plan might actually work. With that scope, who cares for stock prices. :)