Tesla Motors Inc still has an exciting 2017 laid before it. There is no doubt that the successful launch of the Model 3 will sit at the top of the company’s highlights this year. Elon Musk swears it will be Tesla’s most affordable EV yet. The car is set to roll out in the second half of this year at an assured $35,000 starting point. Tesla has gone rather quiet about the Model 3 development in several months. However, with the firm’s next quarter earnings report right around the corner, reservation holders can look forward to more insight on how the company is progressing.
Tesla will make news of its fourth quarter earnings after trading closes next week. The electric car space is eagernl to know whether 2016’s Christmas quarter was a relatively good period for the automaker. Although, after a few minor disclosures from the firm so far, analysts have dialed down their expectations. Much of the excitement will rest on a few good Model 3 updates, and boy will they be appreciated.
Even though the CEO, Elon Musk, says he hopes production will begin in July, he has said there is a chance the firm might not meet that deadline. On the positive side, recent weeks have featured reports claiming that Tesla is already prepping certain locations for Model 3 production, suggesting the firm could be on track.
Tesla’s Model 3 promises to hold all the style, luxury and sportiness that is expected of the auto brand. Only this time around, all of it will be crammed into an compacted, affordable design. The concept was officially unveiled nearly a year ago and ran away the EV world’s excitement. The opportunity to join the Tesla community at a discount was so exciting that the Model 3 secured around 400,000 paid pre-orders mere weeks after it was showcased.
But there is much more than Model 3 pressure brewing at Tesla. The young American automaker has boasted a set car production rate of half a million EVs per year by 2018’s closing. It is a claim even the most supportive TSLA bulls have shied away from. Tesla is yet to distance itself from 100,000 cars per year.
The demand is undeniably there with the Model 3 coming up. Combine this with the already functional Gigafactory, and Tesla’s promised production spike doesn’t seem entirely far-fetched.
Let’s take a look a few Tesla points to look out for next week.
Tesla Christmas earnings
It is no secret that Tesla Motors Inc once again missed its sales objective last quarter. By no means was this from a lack of trying either. Numerous buying incentives came into effect during the last three months of 2016. They included price cut campaigns and a rush for buyers to secure a Tesla before they lose out on free, lifetime Supercharging. Despite all of that, the new year rolled in with a report that Elon Musk and his company had missed its set delivery goals again. Already, the firm’s 500,000 EV rate assurance looks a bit shaky.
Focusing on Wednesday next week, Tesla is expected to share another quarterly loss, amplified by disappointing EV sales. However, analysts are not all skepticism at the moment as the most recent quarterly report revealed a profit as well as a topping of sales projections. Looking at estimations, consensus suggests that the EV maker’s sales will beat the $2 billion mark. That would be a considerable climb from the $1.71 billion pulled in during the 2015 Christmas quarter.
Model 3 details
Of course, it would be a rather sore earnings disclosure without any news of the Tesla Model 3. News claims the firm has been testing them and that further, more public testings are set to come to light over the next few days. We see these an exciting build up to the first earnings report of the year. Adding to the mix, details about the car’s development is going and the available pricing options will not go unappreciated.
“I don’t mind waiting,” writes one LearnBonds reader, JamesCE, who is in line to get his hands of the new Model 3, “but I’d like to see or hear progress. Options being raised, better pricing for accuracy, or even progress of production with suppliers. Anything that lets me see the inner workings of progress. I would be happy to even play with the configurator for a few months,” he added.
He is not alone in his view. There are several Model 3 reservation holders who have shared their eagerness to know more. “I too would be happy to get monthly updates,” write Demetrius Roman, another learnbonds reader and reservation holder. “And a configurator to play with while we waited.”
“I am 76 and could be dead before I get it,” another reader joked. “I want to see one.”
Tesla has nearly half a million people around the world simply waiting on the edge of their seats for Model 3 updates. Although reservation holders seem quite patient and understanding, their anxiety about learning more is understandable.
More Tesla details
Beyond the Model 3 and other Tesla sales, there are other factors to look out for next week . This will the company first earning reports since the adoption SolarCity Corp. last year. Also, the Gigafactory is already functional and Tesla’s stationary power units are being fitted with cells from the plant. It will be interesting to see how these ventures translate on company finances. What to expect over the next few months would also be appreciated.
Model 3 update news
LearnBonds took an in-depth look at the Model 3’s price incentives and performance aspects last week. Judging by Tesla’s assurances thus far, the auto scene can expect a game-changing vehicle to roll out later this year. If you would like to take a look at our Model 3 cost report, click here. Those looking for an in-depth update about the affordable Tesla and when it will be seen on our roads can click here.