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 leaders and Hollywood studios reached a tentative agreement Sunday to end a historic screenwriters strike after nearly five months, though no deal is yet in the works for striking actors.
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're highlighting, Microsoft and Activision Blizzard, the UAW strike, Fox Corp. and News Corp. shake-up, interest rate decision, and Cisco scooping up Splunk.
