Could another missed production goal be enough to really change investors’ tune on Tesla?
Todd Lassa, Detroit Bureau Chief at Automobile Magazine, says falling short on Model 3 deliveries again might deal a blow to the electric automaker’s reputation.
“I think that it’ll affect perception more than bottom line, I think bottom line has always been troublesome over at Tesla,” he said. “We’re basically getting what we’ve always got from Elon Musk, but I think it’s finally starting to catch up to him.”
He points out that he’s long expressed concerns over Tesla’s ability to make money off its cars. In fact Tesla has only posted two profitable quarters in its nearly ten years as a public company, and in its most recent report it announced its biggest ever loss of more than $600 million.
It’s only been in the last few months, though, that the stock has pulled back, down 20 percent since hitting a record high in September.
“Maybe the investment community is catching up with us,” Lassa said.
Tesla has been spending heavily to match its aggressive production agenda, but some analysts aren’t convinced those efforts will pay off. KeyBanc Capital earlier this week slashed its forecast for Model 3 deliveries in the fourth quarter from 15,000 to 5,000.
To put that in perspective, Tesla originally said it would be rolling out 5,000 of the mass-market vehicles *each week* by the end of the year.
For full interview [click here](https://cheddar.com/videos/teslas-model-3-outlook-slashed).
Steve Hill, CEO & President of Las Vegas Convention and Visitors Authority, talks all things Sin City including transportation news, nightlife and the Sphere!
AI is revolutionizing credit scoring by analyzing diverse data sources, enhancing accuracy & financial inclusion for those lacking traditional credit histories.
Founder & CEO at Align Business Advisory, Dena Jalbert, joins Cheddar to discuss the future of the M&A space and which sectors to watch out for. Watch!
Working five days a week has long been the corporate cultural norm. But some companies are exploring the option of letting employees work four days a week.
After a two-year-long high, interest rates are coming back to earth. So what happens next? Plus: Boeing's woes, UAW may strike, and of course Elon's World.
PLUS: American Eagle marks 30 NYSE years with a record stock high. CMO Craig Brommers discusses Gen-Z trends and collabs with Coco Gauff and Trevor Lawrence.
