It's the first week of the month and if you're in the automotive industry, that means one thing. It's time to report sales.
It seems that 2017 was an interesting year for many automakers. One thing is certain: Sales of sport-utility vehicles are up. Expect for manufacturers to keep filling that need as they tend to go where the most dollars are.
And today was another big news day for Tesla but not for the right reasons.
The company reported its fourth quarter sales and, of course, all eyes were focused on the Model 3 delivery figures. They came up short, in a BIG way. Analysts were estimating upwards of 4,000 Model 3s to find their way home. Instead, TSLA only shipped about 1,500 Model 3 vehicles.
If that wasn't enough, the now famous 5,000 Model 3s produced weekly figure was pushed back from an end of Q1 forecast to now being reached by the end of Q2 2018. Remember, this milestone was supposed to be reached by December.
As the organization burned $1.1 billion in cash in Q3 and another $1.1B in Q4, this is concerning news.
That said, what do YOU make of it, Spies?
...The electric vehicle maker headed by Elon Musk said it would likely build about 2,500 Model 3s per week by the end of the first quarter, half the number it had earlier promised. Instead, Tesla said it now plans to reach its goal of 5,000 vehicles per week by the end of the second quarter...
...Building the car efficiently and delivering it without delays to customers is also critical, as the money-losing company faces high cash burn. Delays increase the risk that reservation-holders will cancel orders...
...In delivering 1,550 of its new Model 3 electric vehicles in the fourth quarter, Tesla fell short of Wall Street expectations. Analysts had expected 4,100 Model 3 sedans to be delivered in the fourth quarter, according to financial data and analytics firm FactSet...
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