There are few key takeaways from Tesla Motor Inc (NASDAQ:TSLA)’s earnings number for the fourth quarter, as well as, the outlook for the year 2016. Tesla stock, which had fallen almost 40 percent since the beginning of this year, rose more than 10 percent following Musk’s comments.
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Elon Musk said on Twitter that Tesla will start accepting in-store Model 3 reservations on March 31st and online on April 1.
The Model 3 will be the third major auto in Tesla’s fleet.
The dream of owning a Tesla just got even more real for people eager to get behind the wheel of one of Elon Musk’s electric vehicles. That expectation was proven at least partially untrue by Tesla’s shipping forecast.
Musk said Tesla would make its first net profit by the fourth quarter. The Model 3 is seen as a key step in Tesla’s bid to become a mainstream automaker. The hope is that this will keep costs down and allow the Model 3 to remain affordable to your average consumer, while also helping to boost company profits at a time where sales figures aren’t where they should be, ideally.
The automaker launched the Model X in September a year ago, following multiple delays owing to production issues. By the start 2QFY16, Tesla is anticipating Model X production to climb to 1,000 vehicles per week. Depending on what additional rebates are available in your state, you could own a Model 3 for a mere $25,000.
But on the other there was positive news on production targets for this year and for those that follow the firm closely, exciting news that the new Model 3 vehicle will go on sale from March 31.
Meanwhile, a spokesperson for Tesla told Bloomberg the $35,000 price tag does not include the incentives.
Tesla also plans to open 80 more retail and service locations while it expands its Supercharger locations to around 300 more.
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It will however be faced with stiff competition, especially from the Chevrolet Bolt General Motors sold about $ 30,000 and to come into production this year.
