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Tesla's shares jump after-hours with "overwhelming" Model 3 response

The stock was up nearly 8 percent in after-hours trading, after the company delivered better than expected second-quarter earnings.

The company's net loss attributable to shareholders widened to $US336.4 million in the second quarter ended June 30, from $US293.2 million a year earlier.

Tesla Inc reported on Wednesday that its net loss widened in the second quarter as the electric auto maker opened new stores and prepared for the bumpy launch of its new lower-cost Model 3 sedan. He added that the number of orders has decreased from 518,000 to 455,000 approximately.

Yeah, the new Model 3 is good. "That's the one part of the financials that are a little bit troubling".

All-electric vehicle manufacturer and renewable energy company Tesla has more than doubled its quarterly revenue compared past year.

Tesla Inc. burned through less cash than analysts expected before bringing out its most affordable model yet, as costly investments strain the balance sheet of the electric-car company led by Elon Musk. That may not be enough for many customers, especially those who prefer a auto with a longer range.




Deliveries of the Model 3 will begin in autumn.

The deposits that customers made last summer do not specify which version they prefer, which could force Tesla to produce more of the 310-mile range version than the lower cost versions. Surprisingly, the Model 3 actually did go into production without a major delay.

"As Tesla's Model 3 ramp proceeds, we continue to have more questions than answers about the company and the vagueness of details coupled with lack of disclosure from management about true capital needs and expense levels need to obtain their ultimate vision", Osborne continued.

Tesla CEO Elon Musk said Wednesday the company may push back its big demonstration of its self-driving tech.

"We are not at this point considering an equity raise, we are thinking about debt", Musk said on the company's second-quarter earnings call. However, Tesla Motors reported in its second quarterly update of 2017 today that its Model S and Model X, er, models have also seen an uptick in orders. This is key to the company's short-term customer relations and long-term survival, as the Model 3 is now amassing some 1,800 reservations per day. Also, the first editions of the Model 3 will be more expensive than the sedan's $35,000 starting price.

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