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Tesla talks Model 3 ramp during earnings call

Oct. 26, 2016 8:36 PM ETTesla, Inc. (TSLA) StockTSLABy: Clark Schultz, SA News Editor210 Comments
  • The Model 3 was a key area of focus during Tesla Motors' (NASDAQ:TSLA) post-earnings conference call.
  • Elon Musk said the company hasn't taken any action to delay the launch of the Model 3. Also of note, the current Model 3 ramp-up plan doesn't call for any capital raise (probably) at all, he added. Missing from the buzz was any update on how many Model 3 reservations are in the hopper.
  • In a statement with some important margin implications, Musk noted the company is selling very few cars with discounts.
  • Musk also described the benefit of a self-driving car-sharing service in response to a question on the Tesla Network.
  • "It would be something that would be a significant offset on the cost of ownership for a car, and a revenue generator for Tesla as well. Obviously, the majority of the economics would go to the owner of the car," he noted.
  • Tesla +4.33% AH to $211.00. A rosy read on the SolarCity (SCTY) acquisition helped push up shares of the solar energy firm by 3.55% after the Tesla earnings report.
  • Tomorrow, the Tesla analysts will start buzzing. Stay tuned.
  • Tesla earnings call transcript
  • Previously: Tesla beats by $0.05, misses on revenue (Oct. 26)
  • Previously: Tesla Motors stays on track with delivery guidance (Oct. 26)

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