Published: Tue, August 01, 2017
Economy | By Melissa Porter

Tesla Inc. (NASDAQ:TSLA) Upgraded to "Strong-Buy" at Vetr Inc

Tesla Inc. (NASDAQ:TSLA) Upgraded to

The starting price for the auto is £35,000, which isn't too bad when you compare this to the Model S, priced at over £100,000. Tesla CEO Elon Musk has already given investors some insight into what to expect from Model 3, recently forecasting about 100 Model 3 deliveries in August and 1,500 in September. The Palo Alto, California company has spent over $2 billion in cash so far this year ahead of the launch.

Deliveries kicked off Friday night with the company's usual amount of fanfare.

Musk described how the company went through "production hell" to deliver its first three models. As is always the case when it comes to Tesla, both the bulls and bears had plenty to say about Friday's event.

At the event, the company announced its first vehicle marketed at to the masses.

Kessler Investment Group LLC purchased a new stake in shares of Tesla Inc.

The KeyBanc team found something very odd with this updated number, however. They believe that the preorder number is now "the most important metric and basis for the stock".

Good news for those who like their Teslas cranked up to 11.

The Model 3 launch came at the end of a busy week for electric cars, with the United Kingdom following the likes of France and Norway in setting a date to phase-out date for petrol and diesel-powered vehicles.

Instead of a key, or even a key fob like all other cars (including other Teslas), the Model 3 relies on a smartphone application and Bluetooth. Since the first Model 3 rolled off Tesla's production line a few days after its second quarter ended, much of these expected $2 billion in expenditures were likely incurred during Tesla's second quarter. By comparison, the Chevy Bolt that starts at $36,620 tops out at 238-miles of range while the premium Model 3 will have a 310-mile per charge driving range.

One of the revelations sending ripples through the customer base is the Tesla Model 3's tiered pricing. And despite all of the hype surrounding the event and the vehicle, there is still a lot we don't know about the Model 3. The traditional instrument cluster was removed to maintain the seamless interior and important gauges can be seen on the center screen. It's minimalist design centers around the horizontal touchscreen in the middle of the dash.

It's not exactly surprising since nearly any new product undergoes a money losing period, but the company expects to quickly turn its Gigafactory venture into a profit center. The Model 3 "remains a de-contented, smaller version of the Model S; and the production vehicle showed no incremental (human-machine interface) features from the vehicle unveiled a year ago".

Squeamish about producing non-luxury cars??

Fortune, presumably shareholders, and of course, all of those reservations holders will be waiting to hear about that basic and critical information about how people can actually get their hands on the Model 3.

Musk says they are building the highly anticipated vehicle as fast as possible - 5,000 units/week as of right now with a goal of 10,000 units/week by the end of 2018.

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