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Tesla Stock Price Falls as Sales Target Cut to as Few as 50,000 Vehicles

posted by janrinok on Friday August 07 2015, @06:32PM   Printer-friendly
from the braking-gently dept.

Phoenix666 writes:

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.

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  • (Score: 4, Interesting) by Phoenix666 on Saturday August 08 2015, @12:29AM

    by Phoenix666 (552) on Saturday August 08 2015, @12:29AM (#219734) Journal

    Big companies have trouble adjusting to sharp market dislocations. If your reasoning were sound, Kodak would have owned the imaging market forever. They were huge, venerable, owned about a million patents, had bought off everyone who was worth buying off. But digital cameras and later smartphones w/ cameras came along and the rest is history, as are they.

    My brother works at Ford. I hear stories about Ford inside baseball all the time. Mulally tried really hard to push Ford into hybrids and EVs. Ford ICE (that's Internal Combustion Engine) middle-management and its culture were so entrenched, that he's gone while they remain.

    Tesla's challenge is to ramp up production. That's what the Giga Factory is about. But as for the EV, Tesla groks it down to the ground. No other car manufacturer does, not even Nissan.

    --
    Washington DC delenda est.
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  • (Score: 2, Funny) by Anonymous Coward on Saturday August 08 2015, @01:06AM

    by Anonymous Coward on Saturday August 08 2015, @01:06AM (#219747)

    I'm convinced jmorris is not a real person, just a shill from the Heartland Institute that occasionally wanders over to this site and posts the company line...