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Tesla News Update - Misses delivery goals.
By John Goreham Jan 10 2017 - 9:19am

Breaking Tesla News - Misses Production Goals For 2016, Gigafactory, More

Tesla Motors news this week with Alex Guberman covers production, competition, Gigafactory up and running, a new possible competitor for Tesla Model X emerges, Tesla Motors Stock.

This Week's Tesla Motors News with Alex Guberman covers a wide range of topics. Alex is, of course, a Tesla expert, three-time owner, and founder of the Tesla Model S Club on Facebook. He produces these news videos independent of Torque News, but we feel his information is well worth sharing with our readership.

We will combine Alex' first and last topics. First, Tesla reports that it missed its delivery target by roughly 10% in 2016, failing to deliver about 4,000 vehicles the company told stockholders and customers with vehicles on order that it would. If you follow Tesla news, production delays should not come as a shock to anyone. Tesla's excuse this time is that it had about 3,000 vehicles of those 4,000 vehicles built, but "delivery issues" precluded it from meeting its self-set goal. Tesla stock reacted to this by going up 7%. Proving once again that Tesla Motors' stock price is not about today, but about tomorrow.

Faraday Futures showed off a luxury performance EV that it cannot build, and that has never been tested by the EPA or any safety agency. Customers lined up to put down deposits. Sound familiar?

The best news this week is that Tesla's Gigafactory is up and running. Employing thousands of Americans, after having been built by American tradespeople over the past two years. It is good to see that the Model 3 will have one less thing to hold it back from success when it finally arrives.

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Comments

Lee Ramer wrote on January 10, 2017 - 11:32am
Hmmm, it sounds like some one is a little upset that Tesla stock is not going in the down direction they were hoping for. You should be ecstatic for this American company that will make America GREAT again. hiring vets, hiring Americans, making everything in house. This is what America is all about. What have you done?
John Goreham wrote on January 10, 2017 - 1:40pm
If this story gave you the impression we are anything but hopeful for Tesla Motor's long-term health and that of its stock, it was unintentional. Posting the news from three-time Tesla owner Alex is one thing we have done to bring in a decidedly pro-Tesla voice to augment the other two reporters here at TN that cover this exciting company. Your pro-American made sentiment is one we echoed not just in our closing paragraph above, but also in our story here previously: http://www.torquenews.com/1083/tesla-motors-may-benefit-most-among-automakers-trump-presidency Sorry that the comments don't support direct links, you will have to cut and paste the story address. Thanks for taking time to comment.
Jamie wrote on January 11, 2017 - 9:57am
I think the criticism is appropriate and that the coverage, in highlighting Faraday as a comparison case, demonstrates how ridiculous some of the trading activity regarding hyped companies can be even when they are doing amazing things. Remember, share price on the secondary market does nothing for the company whose shares are traded. Tesla raises capital when the shares are issued. We're all just placing bets and swapping digital paper back and forth a few million times a second based on how we feel on a given day. Look at the Tesla's fall from the $230s down to $180 and then its rise back to the $230s. All of that came during a pretty steady-state ramp up. Tesla has regularly missed its goals yet continues to boost its delivery at a rate that would be impressive if Elon Musk weren't always overpromising. The company is doing great things. The traders are just being traders.
John Goreham wrote on January 11, 2017 - 12:47pm
Well said.