Tesla announces new lower-cost Model 3; 4Q vehicle deliveries seen very strong says Morgan Stanley
Friday, 19 October 2018 Tesla Inc (NASDAQ:TSLA) CEO Elon Musk announced the release of a lower cost Model 3 while an investment bank said fourth quarter deliveries will probably run at a strong clip. Musk said the company will begin selling the mid-range version of the Tesla Model 3 at a price of $45,000, before savings knock it down to about $31,000, the company claimed. Costs $35k after federal & state tax rebates in California, but true cost of ownership is closer to $31k after gas savings — Elon Musk (@elonmusk) October 18, 2018 Tesla has the potential to issue an "extremely strong" guidance for vehicle deliveries in the fourth quarter of the year, a report by investment bank Morgan Stanley (NYSE:MS) said. Morgan Stanley analyst Adam Jonas forecast in a research note to clients a 20% sequential improvement in Model 3 deliveries and sees them being heavily weighted to top-of-the-line mix. Given his understanding that the vast majority of Model 3 production is dual-motor, Jonas added that he would not be surprised to see average transaction prices for the Model 3 to approach $60,000 per unit or more. READ: Tesla starts off 4Q with strong production numbers; Musk tweets about climate change Given his thinking that the company's working capital terms could drive a cash flow surprise, Jonas said he sees conditions supporting Tesla offering "extremely strong" guidance for 4Q profit and cash flow. He also believes Tesla will use the momentum to potentially tap the equity market and continues to forecast a $2.5 billion equity capital raise in 4Q. Jonas kept an Equal Weight rating on Tesla shares with a $291 price target. Tesla shares rose 1.17% in Friday's premarket to $267, having closed on Thursday 2.9% lower at $263.91. Reporting by Rene Pastor, contactable on email@example.com
Tesla said in a blog post published on Friday that its general counsel, Todd Maron, will leave the automaker in January. Maron joined Tesla in 2013. Before working at Tesla, Maron had represented Musk..
2019 Suzuki Vitara incorporates numerous visual, technical and specification upgrades. Vitara has enjoyed strong UK sales success since launch in 2015 and it is currently the most popular model in the..
DETROIT (AP) — The Autopilot system on a Telsa Model S may have helped the California Highway Patrol stop the car after its driver fell asleep on a freeway.... SeattlePI.com - BusinessAlso reported by •SFGate