Tesla sells 22000 vehicles in Q2

By 2018, the company aims to produce a total of half a million cars which is a huge jump from their production of 76,000 cars previous year falling short of their 80,000 target.

Tesla (TSLA) shares have had a wild ride over the past few years - the launch of the Model S and X, the concerns over the fires, repeated execution missteps, and worries over the company's long-term profitability, to name but a few ups and downs. This Tesla Model 3 will cost around $35,000 with a $7,500 federal electrical auto tax credit. The Model 3's numbers may not be massive in the forthcoming Q3 report, but the fact that it'll be there at all is great news. Meanwhile, Tesla's Model X crossover will have a new competitor in the Jaguar I-Pace. Shares are on track for their worst weekly percentage decline since early 2016 - they fell almost 6 percent Thursday alone.

James Albertine, an automotive analyst, told CNBC's Squawk Box earlier this week that for the next six months, Tesla could reap big gains in consumers' and analysts' confidence as more Model 3's are delivered to more enthusiastic customers.

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Musk also mentioned that the new electric vehicle has already passed all the regulatory requirements for production. Tesla plans to hand over the keys to about 30 Model 3 customers on July 28.

"The technology challenge grows exponentially with energy density".

Tesla and SpaceX chief executive Elon Musk has revealed that the first Tesla Modal 3 will roll off the production line on Friday.

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Tesla shares are down more than 4 percent to $313.10 as of this post.

Tesla shares finished down 2.5% at $352.62 following the shortened trading session on Monday and are today down over 5%. (TSLA) has been a company valued, analyzed and judged based on the sales potential of mass-market cars that haven't launched yet, a major selloff on account of a slight quarterly delivery shortfall for the company's existing, costlier vehicles is a little odd at first glance. The company reported last spring that 373,000 people have placed $1,000 deposits for the vehicle and hasn't given an updated reservation figure in the year since. According to the May report of Tesla, the number of pre-orders for Model 3 is 373,000.

It is supposed to allow the group, born in 2003, to produce about 500 000 vehicles in 2018 and 1 million by 2020.

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Tesla's second-quarter deliveries of about 22,000 units were less than the Goldman Sachs forecast of 23,500 units, while the broader consensus estimate was closer to 24,200 units.


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