Todd Lassa, Detroit Bureau Chief for Automobile Magazine, discusses a recent downgrade to Tesla's Model 3 outlook for the fourth quarter as Elon Musk promises a pickup truck and new features to fans.
Lassa adds that Musk's own ambition might be beginning to catch up with him as the Model 3 has not yet proven to be profitable. He notes its major miss of deliveries in the third quarter as well.
Is there a place in the market for a Tesla pickup truck? Three major manufacturers are making $90 billion in that market, but Lassa notes how inexpensive a Ford F-150 is in comparison to the cost of a Tesla truck. He estimates that it would be several years before a car like that would become profitable for the company.
Union workers at Mack Trucks went on strike Monday after voting down a tentative five-year contract agreement that negotiators had reached with the company.
Claudia Goldin, a Harvard University professor, was awarded the Nobel economics prize on Monday for research that helps explain why women around the world are less likely than men to work and to earn less money when they do.
The Week's Top Stories is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street. This week we focus on MGM Resorts, Clorox, United Airlines, Google and HP.
