Tesla Motors End Of Year News Roundup: Including Electric Stocks and Twitter Power
Get those vehicles out
There seems to be some mixed messages for if Tesla can reach their end of year delivering and sales targets according to some sources. The company hit a delivery record in the third quarter seeing 24,821 vehicle shipments, 16,047 being the Model S and 8,774 being the Model X, but this didn't match its 2015 record of 17,270 vehicles being shipped according to Learnbonds. Tesla hope to hit 25,000 deliveries by the end of the year, which will simmer confidence in both investors and customers for the coming year.
One new source says that as Tesla vehicle sales increase service centers being opened for these new vehicles is dropping. At nearly the year-end there are 131 centers, which equates to 1,374 vehicles per center according to seekingAlpha.com. This figure has tripled since 2013, where there were 513 cars per center, but some of the take-up may be done by enterprise rentals and other outlets. As Tesla customers pay $1450 per year for servicing, which has to be done at a specific Tesla center, each center either needs to expand or many more built to service new sales. At present it looks like the outsourcing of servicing will be the way forward unless the company can build more service centers as fast as the Gigafactory is going up.
With the acquisition of SolarCity to bolster Tesla's solar campaign, a huge factory to build and all the other plates they are spinning at the moment, you would expect Tesla stocks to be jumping up and down like a jack rabbit at times. It seems Tesla shares at the moment are down at the end of the year the first time since 2010, according to Steven Russolillo's tweet from the Wall Street Journal. 'Tesla shares are down 10% this year, making 2016 the first time that $TSLA has dropped in a calendar year since its 2010 IPO.'
However, the stocks are still trading above $200 and with the upcoming Model 3 and autonomous driving on its way, the pushing of the technology boundaries could just win out here.