Musk was quick to turn attention to the future and claim Tesla will double vehicle deliveries in 2016 to nearly 200,000, with the company pushing Model X production up to 1000 per week by the second quarter.
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Despite losing money last quarter, Tesla shares are still up after their earnings report. Why?
Tesla will also come up with a high optioned version, in the same way it has done for Model S sedan and Model X SUV. Tesla Motors Inc (NASDAQ:TSLA) has declined 43.65% since July 8, 2015 and is downtrending.
Only 206 Model X SUVs have been delivered since launch in late September.
The company aims to start deliveries and production of the Model 3 in late 2017. Due next year, the Model 3 will be Tesla’s most affordable EV with an assured price tag of $35,000.
Model 3 is widely seen as the vehicle that will help Tesla become a mass manufacturer of EVs.
“If the Model 3 behaves at all like the Model S in its market segment, it doesn’t seem like we are going to be demand constrained”.
More details are expected to be revealed about the Model 3 in the coming weeks, but for now, we’ll just continue to dream about cruising down the M4 with our hand nowhere near the wheel again. Musk has stated that the carmaker, whose Model S was the best-selling luxury auto in the United States in 2015, according to estimates compiled by EV Obsession, and a perennial favorite of Hollywood’s ruling class, will sell 500,000 cars a year by 2020. Prices could start at around £30,000-£35,000 in the UK. However, the electric vehicle maker gave a rosy outlook for 2016 to its investors offering reassurances that production of its new models is on track.
It’s finally official folks, the 2016 Tesla Model 3 reservation date will be March-end where you can already book the vehicle with a small downpayment.
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Tesla straddles the digital technology and automotive industries, which have been hard hit this year by investors anxious that growth is slowing in both sectors.
