Home » Tech

Tesla Cuts Number of Car Paint Options Available to Boost Productivity

12 September, 2018, 01:23 | Author: Tara Roberts
  • Data sources GoodCarBadCar InsideEVs TroyTeslike and Kelly Blue Book

Tesla shares climbed almost 9 percent on Monday as investors reacted to Elon Musk on Friday evening predicting "the most fantastic quarter in our history".

A Tesla spokesman said dropping the paint colors is not an indication of any production problems.

Shares came under renewed pressure last week amid senior personnel changes, and after CEO Elon Musk was filmed smoking marijuana during a live interview.

Despite rebounding 6% on Monday, Tesla's share price has plunged 29% from the peak of $389.61 on the day Musk tweeted the go-private plan.

In addition to being a pinch point slowing production, Tesla owners have taken to online forums to cite an unusual number of paint-quality and rust issues with their new Model 3s.

The company, based in Palo Alto, California, has struggled to vault from a niche maker of expensive electric cars into a mass-market producer.

However, the firm downgraded its Tesla rating to neutral from buy, noting that some of Musk's recent behavior could weaken consumer confidence in the brand.

Tropical Storm Florence: SC Governor Declares State of Emergency
The current forecast track brings Florence on approach to the southeast US coast on Thursday as a major and powerful hurricane. Florence was the first Category 4 hurricane of the Atlantic season, but weakened as it passed through cooler waters.

The note said a United States securities probe following Musk's brief flirtation with taking the electric auto maker private was unlikely to have an impact, although the frequent turnover of senior Tesla executives was more concerning.

Tesla Inc (NASDAQ:TSLA) shares have had a rough several weeks, but not everyone on Wall Street is swinging bearish on the electric automaker. The waiting list for a Model 3 is more than 400,000 strong, and some people have been waiting since March 2016. His leaving reflects "the intensity of (Tesla's) work custom, and is no longer indicative of concerns with fundamentals or monetary reporting", the Baird analysts, led by Ben Kallo, acknowledged.

Tesla is jumping 5% on Monday, after CEO Elon Musk's sunny outlook for the third quarter.

But Sacconaghi said the company remained on track to meet key vehicle manufacturing targets in the third quarter and predicted shares would return to their historic range as the aborted go-private campaign becomes a more distant memory.

This morning, however, it seems the Tesla stock has rebounded and is trading around what it was before the smoking news was released. Over half a million individuals worldwide reserved the Tesla Model 3, and the all-electric auto manufacturer was not ready for that volume of demand.

Per usual, analysts have plenty to say about the stock. The Motley Fool owns shares of and recommends Tesla.

Recommended:

  • Lions Hope Monday Night Game Restores the Roar After Muted Preseason

    Lions Hope Monday Night Game Restores the Roar After Muted Preseason

    His mobility to either side of the field while simultaneously keeping his eyes downfield for open lanes is advanced for any age. Many NFL quarterbacks, not just new ones, have trouble with keeping a short memory after making a mistake.
    IPhone XC could be the name of Apple’s new entry level handset

    IPhone XC could be the name of Apple’s new entry level handset

    However, the third handset could be a slightly cheaper alternative that's now believed to be called the "iPhone XC". The new report from Slashleaks also suggests that all the three iPhones will be available starting September 21.
    Tracking Lane: Major hurricane targets Hawaiian Islands

    Tracking Lane: Major hurricane targets Hawaiian Islands

    Maximum sustained winds are near 155 miles per hour (250 kph) with higher gusts. "We've been very fortunate", he said. It was unclear when the system would make an expected turn west and barrel toward the island chain.
  • John Legend, Andrew Lloyd Webber, Tim Rice now EGOT winners

    John Legend, Andrew Lloyd Webber, Tim Rice now EGOT winners

    John is the second fastest to complete the feat, doing so in 12 years - just two years' shy of composer Robert Lopez's record. John Legend must be on cloud nine because as of right now, he is part of the EGOT (Emmy, Grammy , Oscar , Tony) club.
    P:60 Packers Podcast - Remarkable comeback by Aaron Rodgers

    P:60 Packers Podcast - Remarkable comeback by Aaron Rodgers

    Robertson-Harris was credited with the sack, and the play resulted in Rodgers leaving the game with a knee injury. Until then, relive tonight's madness with the top reactions of the night by way of your trusty Twitter community.
    Elon smokes a joint as stocks slide

    Elon smokes a joint as stocks slide

    Rogan asks if he wants some, but adds that Musk probably can't because of stockholders, nearly daring him. "Come on man", Mr. Tesla Motors Inc Chief Executive Elon Musk pauses during a news conference in Tokyo, September 8, 2014.
  • Judges rule ICC has jurisdiction over Rohingya deportations

    Judges rule ICC has jurisdiction over Rohingya deportations

    Min Aung Hlaing, to be tried at the International Criminal Court for genocide committed against Rohingya Muslims . The ICC judges said that "such a preliminary investigation must be concluded within a reasonable time".
    Swimsuit-less Miss America pageant is under way

    Swimsuit-less Miss America pageant is under way

    Her victory Sunday night resurrected a string of successes the Empire State has had in the pageant in recent years. The judges narrowed the field of 51 candidates during the pageant Sunday night from Jim Whelan Boardwalk Hall.
    Duke & Duchess Of Sussex attend '100 Days Of Peace' Commemorative Concert❤

    Duke & Duchess Of Sussex attend '100 Days Of Peace' Commemorative Concert❤

    We've seen her Birks earrings before, and at a cool £9000 ($16,000), it's no wonder she wants to get wear out of them. She paired the look with matching blue pumps with silver detailing around the ankle and a simple black clutch.
  • Fuel prices hiked again amid Bharat Bandh against price rise

    Fuel prices hiked again amid Bharat Bandh against price rise

    On Tuesday, former Finance Minister P Chidambaram had tweeted: "Relentless rise in prices of petrol and diesel is not inevitable. On the other hand, the diesel costs Rs 75.36, Rs 76.98 and Rs 76.64 in the cities of Kolkata, Mumbai and Chennai respectively.
    China promises retaliation if US imposes more tariffs

    China promises retaliation if US imposes more tariffs

    Investors will next focus on US inflation for August due Thursday and a stronger number could once again send the dollar surging. The automaker decided a couple years back to shift production of the Focus to Mexico, then last year it opted for China instead.
    Melania Trump to op-ed writer: You are 'sabotaging' our country

    Melania Trump to op-ed writer: You are 'sabotaging' our country

    Cohn was reported to have told a colleague Trump did not notice it was gone. He said Trump is "wrong and my reporting is meticulous and careful".


Popular

Donald Trump's visit to Ireland in November has been cancelled
But White House press secretary Sarah Huckabee Sanders told reporters on Tuesday that no final decision had been made. In 2017, Mr Varadkar's predecessor, Enda Kenny, also extended an offer for the U.S. president to come and visit.

Three new iPhones could be on the cards this week
It brings some weight to the fact that Apple is committing to the iPhone X moniker for a significant time in the future. In addition, there is also talk of a dual-SIM version, which will appear later than the single SIM versions.

Swedish anti-immigrant party strong in preelection polling
An SD flag is seen during a political rally for the Sweden Democrats last week. The liberal-conservative Moderates came second with just under 20 per cent.

New leaked photos show Apple's low-priced 'iPhone Xc'
The institutional investor owned 9,332 shares of the iPhone maker's stock after selling 9,654 shares during the quarter. According to the leak released by SlashLeaks, the 6.1-inch display device will come with four color options.

Paris stabbing: Several injured in knife spree, suspect arrested
And on June 17, two people were hurt in another southern town when a woman attacked them in a supermarket with a boxcutter knife. A source close to the investigation said: "Nothing at this stage shows signs of a terrorist nature in these assaults".

WTA chief backs Serena as row grows over US Open sexism
Thank you", tweeted the 20-year-old Osaka, who is projected to rise to seventh in the world rankings on Monday. Men's champion Novak Djokovic treaded warily when asked to weigh in on the matter.

Boris Johnson and Marina Wheeler to divorce after 25 years' marriage
And in 2004 Johnson admitted having an affair with the writer Petronella Wyatt who fell pregnant and had an abortion. According to the BBC, the couple announced their separation today, saying they were in the process of divorcing.

Far-right party with Neo-Nazi roots makes gains in Swedish elections
The SD has argued that the high number of migrants taken in by Sweden is driving up crime and putting the welfare system at risk. The Swedish government allowed 163,000 migrants into the country with a population of 10 million in 2015.

U.S. announces military exercise in Syria after Russian Federation warns of possible attack
Operation Inherent Resolve coalition uses the At Tanf Garrison to train Syrian fighters who are confronting Islamic State militants.

Packers' Rodgers overcomes leg injury in comeback win
A defense reinforced with pass-rushing linebacker Khalil Mack has forced the Green Bay Packers to punt on their first two drives. Rodgers threw two quick incompletions, but on third down, he found Randall Cobb wide open in the middle of the field.