Tesla Model S Output Cut in Half
Brokerage Wunderlich Securities has downgraded Tesla stock from ‘buy’ to ‘sell’ thanks to the companies slashing of Model S output.
Originally, Tesla had intentions to produce and sell 1,000 of its Model S in the third quarter of this year, but things have changed. “While initially saying that it would produce and sell 1,000 cars in the third quarter, Tesla now says it will certainly be 500 cars,” said Wunderlich analyst, Theodore O’Neill.
By the end of the year, Tesla still claims to be aiming at 5,000 Model S sales, but with these recent developments, that seems unlikely.
P ricing for the Model S starts at $49,900 after a federal tax rebate. The top Signature package will retail for $69,900 after tax incentives and will deliver a 300 mile range plus a 0-60 time of just 4.4 seconds.
[Source: TTAC]
Stephen covers all of the day-to-day events of the industry as the News Editor at AutoGuide, along with being the AG truck expert. His truck knowledge comes from working long days on the woodlot with pickups and driving straight trucks professionally. When not at his desk, Steve can be found playing his bass or riding his snowmobile or Sea-Doo. Find Stephen on <A title="@Selmer07 on Twitter" href="http://www.twitter.com/selmer07">Twitter</A> and <A title="Stephen on Google+" href="http://plus.google.com/117833131531784822251?rel=author">Google+</A>
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