One of Tesla's Biggest Skeptics Says Buy on Recent Dip


Tesla Inc will eliminate some color options for its electric cars to streamline production, Chief Executive Officer Elon Musk tweeted on Tuesday, as the company intensifies its efforts to ramp up production.

Here's the scrapped Silver Metallic color on a Tesla Model S. The company is trying to iron out production bumps after struggling to produce Model 3 sedans and failing to meet several production deadlines.

One of the biggest bulls on Tesla among analysts covering the stock is no longer recommending it as a "buy", as he believes that Elon Musk's erratic behavior in recent months is damaging the brand. So far, the company has only made premium versions of the Model 3 with long-range batteries.

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Authorities in New Bern said more than 100 people had to be saved from floods and that the downtown area was underwater. The storm's centre was about 50 miles south of Morehead City at around 11 p.m. (0300 GMT Friday ).

Contrary to an emerging Tesla bear thesis that demand for the Model 3 is declining, the analysts noted that the electric vehicle maker is now focused on selling higher-margin cars such as the Model 3 Performance and the Long Range AWD Model 3, where "demand continues to exceed what is being produced".

In January 2015, at the Detroit Auto Show, Musk gave an on-stage interview in which he shared a few estimates for Tesla's annual production over the coming years.

"In order to increase our production, delivery and service efficiency, we will be removing Metallic Silver and Obsidian Black Metallic as paint options from our online vehicle configurators for Model S, Model X and Model 3".

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A collection of 14 human rights organizations, journalists and privacy groups had told the court that the practices were in violation of human rights.

"We occasionally adjust pricing and available options to best reflect the value of our products and to streamline our manufacturing operations", a Tesla spokesperson said.

Tesla did not immediately comment Tuesday on the Nomura note.

"Since I joined Tesla on August 6th, the level of public attention placed on the company, as well as the pace within the company, have exceeded my expectations", said a statement from Morton released by the company in a filing with the Securities and Exchange Commission.

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He also said Hungary would seek legal ways to challenge the ruling as abstaining votes were not counted, and this, he said, changed the outcome of the vote.

On August 1, Musk told analysts that Tesla plans to pay off its debt instead of refinancing it. Musk has also shot down speculation that Tesla will need to raise cash by selling more stock. "We would definitely honor that obligation, and we would do so right now if it were possible", Musk said. With this statement in mind, it appears safe to infer that by April or Mar 2019, Tesla would be manufacturing the $35,000 base Model 3.