Tesla's losses expected to grow on Model 3 delays

Tesla's losses expected to grow on Model 3 delays

Insideevs reports that if Tesla is struggling to make profits on a $55,000 (£39,642.90) variant of the Model 3, they are not likely to really make any on the $35,000 base model.

The loss was narrower than Wall Street had expected, however.

Production of the auto put Tesla "in a deeper level of hell than we expected", Musk said, adding that his firm was still "a few levels deeper than we'd like to be" and "the pain level is extremely high". The automaker is struggling to meet production targets for its first mass-market vehicle, the Model 3 sedan.

Elon Musk has encountered a glitch in his plan to send a red Tesla Roadster into orbit around Mars after a successful launch aboard the SpaceX Falcon Heavy rocket. Musk said in July previous year that Tesla would probably be making 20,000 Model 3s per month by December 2017. More than expected by analysts.

The production and delivery of the Tesla Model 3, their "affordable" $35,000 (£25,227.30) auto seems to be hitting several roadblocks.

Corbyn Calls For Suffragettes to Be Pardoned One Hundred Years Later
She said attitudes were also changing among men, particularly those who would have previously dismissed "feminist" arguments. Female, ethnic minority and LGBT politicians are disproportionally the targets of abuse and intimidation, she will add.

"The competitive strength of Tesla long term is not going to be the vehicle (s), it's going to be the factory, we're going to productise the factory", he said. "What we can say with confidence is that we are taking many actions to systematically address bottlenecks and add capacity in places like the battery module line where we have experienced constraints, and these actions should result in our production rate significantly increasing during the rest of Q1 and through Q2".

The Model 3 sedan was first announced by CEO Elon Musk in March 2016.

Tesla began showing off the Model 3 in showroom displays in January, with the first public access offered at the ritzy Stanford Shopping Center mall in Palo Alto and at another mall in Los Angeles.

The Model 3 is "the key element" to Tesla's long-term financial stability, said Autotrader executive publisher Karl Brauer.

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