Musk has previously stated that preorders will begin after the March unveiling, and that a fully operational Gigafactory is needed before production of the Model 3 can commence.
Advertisement
The second one was that it plans to deliver 80,000 – 90,000 vehicles in 2016.
“The timeline of late 2017 for the Model 3 is really important”, Ben Kallo, an analyst with Robert W. Baird, told Bloomberg. Tesla Model 3 will be available for around $35,000 before factors like the federal tax credits or state rebates are included. Full-year revenue was expected to climb almost 50% to $5.38 billion.
The auto has always been viewed as the defining product for Tesla – a turning point that will prove whether the company can design, engineer, manufacture and sell a mass-market, comparably affordable electric vehicle.
Tesla’s net loss, however, almost tripled to $320.4 million, or $2.44 per share, in the fourth quarter ended December 31 from $107.6 million, or 86 cents per share, a year earlier.
Even though gas prices have fallen dramatically, Tesla has seen high demand for its Model S luxury sedan and its SUV crossover, the Model X.
But, according to Musk’s tweets, there won’t be any of that for the Model 3. Revenue rose 59 percent from the same quarter in 2014, but the loss grew to 13 cents a share.
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.
With the latest announcement, however, it seems like Tesla’s original plan to launch the vehicle in March will push through after all.
Elon Musk, Tesla’s CEO said competition from other companies do not worry him.
Advertisement
On Wednesday, Tesla Motors reported its fourth quarter earnings reports that missed the analysts’ estimates. Savings are also realized from the lighter weight of the 3 (20 percent, roughly) and “economies of scale” that Tesla has built over the years, including a new paint shop that the company says can handle 10,000 cars per week at full tilt. Musk has previously said the Model 3 will be able to travel at least 200 miles in normal driving conditions.
