Tag Archives: vlkay

Tesla Stock Jumps As Model 3 Reservation Counter Nears 200,000

Loading the player… Tesla Motors ( TSLA ) stock rose on Friday after Thursday night’s Model 3 launch party in Los Angeles tallied ramped-up reservations and revealed a good-looking design with glass on the back half of the roof clear all the way to the trunk. A reservations odometer actually spun at times during the event, moving past 134,000 while the afterparty was still going strong, outpacing the estimates of Tesla analysts. At $35,000 per car, that would amount to almost $4.7 billion in potential revenue when the Model 3 is actually delivered. The deposits are $1,000 a pop and said to be fully refundable. “According to management, reservation orders surpassed 150K during the evening (and presumably still growing beyond our two incremental reservations early this morning),” Stifel auto analyst James Albertine said in an overnight research note. That “is roughly 10x the 15-20K we expected in the first days of the launch and 50% greater than the 50-100K we expected by the end of this year.” He added: “Thoughts. We are simply awestruck by the demand surfacing for the Model 3.” Elon Musk tweeted out in early afternoon that reservations had nearly hit 200,000. Thought it would slow way down today, but Model 3 order count is now at 198k. Recommend ordering soon, as the wait time is growing rapidly. — Elon Musk (@elonmusk) April 1, 2016 Musk’s comment about the wait time is key. Model 3 production will take time to ramp up. Even if the deliveries begin in late 2017, as scheduled, it could be well into 2018 or beyond before people reserving today actually get their Model 3. Shares rose as high as 247.90 on the stock market today , the best since early October. But gains pared to 3.5%, at around 238, in the midafternoon. Tesla is not currently highly ranked by IBD, with a Composite Rating of just 28 out of a possible 99, factoring in its earnings growth record, stock market performance and other metrics. The Model 3 pre-order window opened around the world Thursday at Tesla stores. “Orders for the Model 3 in the last 24 hours have just passed 115,000,” Elon Musk, CEO of the electric car maker, announced at the 8:30 p.m. Pacific Time launch. Lines at some Tesla stores had stretched far. The rest of the Thursday reservations were racked up during the event, where a bevy of Tesla Model S, Model X and Roadster owners conversed over the din of a DJ. “Orders for the Model 3 in the last 24 hours have just passed 115,000,” Tesla CEO Elon Musk just said. $TSLA #Model3 pic.twitter.com/ZWWb9LmhGj — Donna Howell (@IBD_DHowell) April 1, 2016 Several people IBD spoke with also ordered a Model 3 at the launch party. PCs were set up to take reservations online, with the general window for online reservations opening shortly before Musk took the stage to introduce the new car. Sleek, fast (we took a test ride) and smaller than its siblings, the  Model 3 is slated to roll off the assembly line in late 2017. It’s seen competing with the BMW 3 Series and similarly priced entry-to-midrange luxury vehicles from Volkswagen ‘s ( VLKAY ) Audi,  Daimler ‘s ( DDAIF ) Mercedes-Benz and Toyota ‘s ( TM ) Lexus, as well as electrics like the General Motors ( GM ) Chevrolet Bolt and a variety of hybrids. Tesla’s challenge now is ramping up production to meet the better-than-expected demand on time, and pushing down battery costs enough to profit with a car half the price of its last two models. About half of the current Tesla owners that IBD spoke with at the launch event expect the Model 3 to come out on schedule. The others wouldn’t bet on it. Tesla’s last model unveiling, also at its design facility in Los Angeles, was the Model X crossover in February 2012. After delays, that finally started going to reservation-holders at the end of September 2015. Bob and Linda Ashmore of San Carlos, Calif., have a Roadster and a Model S, and just put in a reservation for a Model 3. “We ordered one today here, so we’re looking forward to seeing what it’s actually going to look like,” Bob Ashmore told IBD as the launch party was getting started. He expects it to be built on time, and he and Linda have visited the factory several times. “They’ve got plenty of capacity,” Bob Ashmore said. “This has been a dream and vision of Tesla from the beginning,” Linda Ashmore said. “To get an affordable car for the masses.” RELATED:  Tesla Motors Model 3 Revealed .

Tesla Stock Jumps As Model 3 Reservation Counter Spins To 180,000

Loading the player… Tesla Motors ( TSLA ) stock rose on Friday after Thursday night’s Model 3 launch party in Los Angeles tallied ramped-up reservations and revealed a good-looking design with glass on the back half of the roof clear all the way to the trunk. A reservations odometer actually spun at times during the event, moving past 134,000 while the afterparty was still going strong, outpacing the estimates of Tesla analysts. At $35,000 per car, that would amount to almost $4.7 billion in potential revenue when the Model 3 is actually delivered. The deposits are $1,000 a pop and said to be fully refundable. “According to management, reservation orders surpassed 150K during the evening (and presumably still growing beyond our two incremental reservations early this morning),” Stifel auto analyst James Albertine said in an overnight research note. That “is roughly 10x the 15-20K we expected in the first days of the launch and 50% greater than the 50-100K we expected by the end of this year.” He added: “Thoughts. We are simply awestruck by the demand surfacing for the Model 3.” Elon Musk tweeted out just past noon ET that reservations have hit 180,000. Model 3 orders at 180,000 in 24 hours. Selling price w avg option mix prob $42k, so ~$7.5B in a day. Future of electric cars looking bright! — Elon Musk (@elonmusk) April 1, 2016 Shares rose as high as 247.90 on the stock market today , the best since early October. But gains pared to 2.4%, at just over 235, by early afternoon. Tesla is not currently highly ranked by IBD, with a Composite Rating of just 28 out of a possible 99, factoring in its earnings growth record, stock market performance and other metrics. The Model 3 pre-order window opened around the world Thursday at Tesla stores. “Orders for the Model 3 in the last 24 hours have just passed 115,000,” Elon Musk, CEO of the electric car maker, announced at the 8:30 p.m. Pacific Time launch. Lines at some Tesla stores had stretched far. The rest of the Thursday reservations were racked up during the event, where a bevy of Tesla Model S, Model X and Roadster owners conversed over the din of a DJ. “Orders for the Model 3 in the last 24 hours have just passed 115,000,” Tesla CEO Elon Musk just said. $TSLA #Model3 pic.twitter.com/ZWWb9LmhGj — Donna Howell (@IBD_DHowell) April 1, 2016 Several people IBD spoke with also ordered a Model 3 at the launch party. PCs were set up to take reservations online, with the general window for online reservations opening shortly before Musk took the stage to introduce the new car. Sleek, fast (we took a test ride) and smaller than its siblings, the  Model 3 is slated to roll off the assembly line in late 2017. It’s seen competing with the BMW 3 Series and similarly priced entry-to-midrange luxury vehicles from Volkswagen ‘s ( VLKAY ) Audi,  Daimler ‘s ( DDAIF ) Mercedes-Benz and Toyota ‘s ( TM ) Lexus, as well as electrics like the General Motors ( GM ) Chevrolet Bolt and a variety of hybrids. Tesla’s challenge now is ramping up production to meet the better-than-expected demand on time, and pushing down battery costs enough to profit with a car half the price of its last two models. About half of the current Tesla owners that IBD spoke with at the launch event expect the Model 3 to come out on schedule. The others wouldn’t bet on it. Tesla’s last model unveiling, also at its design facility in Los Angeles, was the Model X crossover in February 2012. After delays, that finally started going to reservation-holders at the end of September 2015. Bob and Linda Ashmore of San Carlos, Calif., have a Roadster and a Model S, and just put in a reservation for a Model 3. “We ordered one today here, so we’re looking forward to seeing what it’s actually going to look like,” Bob Ashmore told IBD as the launch party was getting started. He expects it to be built on time, and he and Linda have visited the factory several times. “They’ve got plenty of capacity,” Bob Ashmore said. “This has been a dream and vision of Tesla from the beginning,” Linda Ashmore said. “To get an affordable car for the masses.” RELATED:  Tesla Motors Model 3 Revealed .

Tesla Motors Model 3 Revealed, Over 150,000 Orders Already

Tesla Motors ( TSLA ) CEO Elon Musk unveiled the long-awaited Model 3 Thursday night, announcing huge pre-order demand. Tesla rolled out Model 3 sedans to cheers from the crowd of Tesla owners. Musk said the mass-market vehicle received more than 115,000 refundable reservations in the first 24 hours — before anyone had gotten a peek — at $1,000 each, to help fund the Model 3’s production. During the launch party, a reservations counter spun up past 134,000. Stifel analyst James Albertine then said in an overnight research note: “According to management, reservation orders surpassed 150k during the evening.” The Model 3 will have a minimum 215-mile battery range, will go from 0-to-60 in less than six seconds and come with autopilot safety features standard. Musk said it will carry five passengers “comfortably.” It will also have front and rear trunks. As expected, it will start at $35,000 before incentives. Musk said he was “fairly confident” that Model 3 deliveries will begin before the end of 2017. Tesla stock rose more than 8% to 249 in pre-market trading on the stock market today . That would be a six-month high. Tesla stock closed up 1.3% Thursday at 229.77. Musk said he wanted to show the world “the electric car can be the best car.” He announced plans for a major expansion of Supercharger stations and said supercharging will be standard on Model 3 vehicles. Revenue from the Model S and X was “what’s needed to develop the Model 3,” he said, thanking the crowd of owners for helping to finance that. Earlier in the day, would-be Model 3 owners showed excitement — and commitment — for the latest Tesla offering, with long lines reminiscent of Apple ( AAPL ) iPhone launches — if Apple didn’t actually deliver your phone for another two years. “There’s no lineup for vehicles in this day and age. Audi and BMW and Mercedes have to be awestruck — they just have to be,” Stifel auto analyst James Albertine told IBD in an afternoon phone interview. His team saw lines for Model 3 reservations stretching to the hundreds at some Tesla stores around Washington, D.C., and New York. He estimated about 30 to 40 reservations an hour in the spot checks. Now taking online reservations! Order your Model 3 at https://t.co/8uVlhvzpu5 #Model3 pic.twitter.com/Rj1kn1CPol — Tesla Motors (@TeslaMotors) April 1, 2016 “Model 3 Unveil:  Watch live tonight at 8:30pm Pacific,” Tesla says on its website. “Reserve online during the event.” At a starting sticker price of $35,000 before incentives, the Model 3 will sell for half the cost of the Model S and the Model X. Albertine had expected pre-orders to come in “very strong” and that the stock “is going to be OK,” despite lofty expectations already built in. (IBD doesn’t rank Tesla stock highly at the moment, giving it a Composite Rating of just 28 out of a possible 99. It’s trading around where it was at the beginning of the year, after surging 63% from a February low.) Albertine sees the Model 3 impressing. After Tesla excelled in higher price bands with its current lineup, he expects the company to have “a really easy time taking over share” from internal combustion engine car brands in this new lower-price category. “The (Tesla) S is outselling the S Class,” Albertine said as a case in point, referring to Daimler ’s ( DDAIF ) Mercedes-Benz flagship sedan, with seven decades of development behind it. In 2015, Tesla’s Model S also outsold individual models from Volkswagen ( VLKAY ) units Audi and Porsche, as well as BMW, Tata Motors ’ ( TTM ) Jaguar and Toyota Motors ’ ( TM ) luxury brand Lexus in the U.S. large luxury vehicle category. And Albertine says that electric cars planned by other makers are unlikely to “merit any concern,” as Tesla’s cars are “that much better.” On reservations, Global Equities Research analyst Trip Chowdhry predicted in a research note Wednesday: “Tesla Model 3 will break all the records in consumer tech in dollar terms for pre-order bookings.” He said then that it was widely believed that bookings could reach 100,000 by the end of the weekend, amounting to “$3.5 billion worth of pre-orders.” They handily out did that in the first day. But, Albertine notes, “(it’s) important to keep in mind what’s real is the Model S and X, and the Model 3 is many, many quarters away from being production-ready.”