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Elon Musk rallies Tesla community to help with Q3 2018 deliveries

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It is difficult to deny that Tesla is a company with a dedicated following. Over the years, its electric cars and energy storage products, together with Elon Musk’s rockstar CEO status, allowed Tesla to become one of the most recognizable brands in the automotive industry. This has also allowed the company to garner a strong consumer base that is willing to pay it forward.

Tesla is facing what Elon Musk dubs as “delivery logistics hell” due to the sheer number of customer deliveries that need to be done before the end of Q3 2018. Tesla has stepped up to the challenge, reportedly conducting deliveries in its centers until 10 p.m. and adopting processes such as a 5-Minute Sign & Drive system to expedite the handover process. As the end of the third quarter nears, though, it has become evident that the company could use a helping hand.

A suggestion for a solution to help Tesla’s Q3 deliveries was suggested by IGN journalist and Ride the Lightning podcast host Ryan McAffrey on Twitter, who noted that he and a lot of Tesla owners would be willing to volunteer their time to help out with deliveries. While Tesla owners cannot help with the paperwork, they could help orient newcomers about the functions and features of their new electric car. Elon Musk loved the idea, stating that any help would be appreciated.

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All across the social media sphere, the Tesla community immediately came alive. In Twitter alone, several owners volunteered to help out, from those who have driven the company’s vehicles since the days of the original Roadster, to those who have just received their Model 3 recently. Influencers who command a strong following in social media, as well as members of dedicated Tesla clubs, announced that they would pitch in as well. Some even noted that they would be bringing food and drinks

It is rare to see a car company command such a dedicated following, but considering Tesla’s place in the auto industry today, the strong brand loyalty exhibited by its consumer base is not very surprising. Over the years, Tesla has pretty much transformed itself into an entity that is more than a regular car company or an energy storage provider. In a way, Tesla has become a movement of sorts, a brand that symbolizes a few embers of optimism in a world that is growing more disillusioned by the day. It would be rather easy to criticize Elon Musk for being a leader that still shows a degree of naivette from time to time, but in the case of Tesla, his leadership is arguably one of the reasons why regular electric car owners are willing to spend their personal time to help out the company. 

Tesla CEO Elon Musk and Chief Designer Franz von Holzhausen conducting Model 3 deliveries. 

While aggressive critics of Tesla would be quick to state that the company commands a “cult” following, it’s not like its customers’ loyalty is misplaced. In the electric car market alone, it is starting to become evident that Tesla, a young carmaker that has only been around for 15 years, holds a significant lead in the EV market. Toni Sacconaghi of Bernstein, an analyst who quite literally incited Elon Musk’s frustration in an earnings call, recently pointed out that contrary to a persistent bear thesis, there is “no actual flood of competition coming” for Tesla’s vehicles, even from established legacy carmakers.

Tesla’s strength and its strong consumer loyalty are reflected in the company’s Net Promoter Score (NPS), which stands as among the highest in the auto industry. Last year alone, Tesla earned a 97 in its NPS, the highest score among automakers currently active in the US. As noted by ConsumerGauge in its analysis of Tesla’s rating back in 2017, the company’s industry-leading NPS seems to be influenced by the company’s radical approach to vehicles and the car buying experience, as well as Elon Musk’s bold, hands-on approach to the company. 

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Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

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Investor's Corner

Tesla welcomes Chipotle President Jack Hartung to its Board of Directors

Tesla announced the addition of its new director in a post on social media platform X.

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Credit: @ArthurFromX/X

Tesla has welcomed Chipotle president Jack Hartung to its Board of Directors. Hartung will officially start his tenure at the electric vehicle maker on June 1, 2025.

Tesla announced the addition of its new director in a post on social media platform X.

Jack Hartung’s Role

With Hartung’s addition, the Tesla Board will now have nine members. It’s been a while since the company added a new director. Prior to Hartung, the last addition to the Tesla Board was Airbnb co-founder Joe Gebbia back in 2022. As noted in a Reuters report, Hartung will serve on the Tesla Board’s audit committee. He will also retire from his position as president and chief strategy officer at Chipotle, and transition into a senior advisor’s role at the restaurant chain, next month.

Hartung has had a long career in the Mexican grill, joining Chipotle in 2002. He held several positions in the company, most recently serving as Chipotle’s President and Chief Strategy Officer. Tesla highlighted Hartung’s accomplishments in a post on its official account on X.

“Over the past 20+ years under Jack’s financial leadership, Chipotle has seen significant growth with over 3,700 restaurants today across the United States, Canada, the United Kingdom, France, Germany, Kuwait and the United Arab Emirates. Jack was named ‘CFO of the Year’ by Orange County Business Journal and Best CFO in the restaurant category by Institutional Investor,” Tesla wrote in its post on X.

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Tesla Board and Musk

Tesla is a controversial company with a controversial CEO, so it is no surprise that the Board of Directors tend to get flak as well. Two weeks ago, for example, Tesla Board Chair Robyn Denholm slammed The Wall Street Journal for publishing an article alleging that company directors had considered a search for a potential successor to Elon Musk. Denholm herself has also been criticized for offloading her TSLA shares.

More recently, news emerged suggesting that the Tesla Board of Directors had formed a special committee aimed at exploring a new pay package for CEO Elon Musk. The committee is reportedly comprised of Tesla board Chair Robyn Denholm and independent director Kathleen Wilson-Thompson, and they would be exploring alternative compensation methods for Musk’s contributions to the company.

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Rivian stock rises as analysts boost price targets post Q1 earnings

Rivian impressed with smaller-than-expected losses & strong revenue, pushing analysts to raise price targets.

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(Credit: Rivian)

Rivian stock is gaining traction as Wall Street analysts raise price targets following the electric vehicle (EV) maker’s first-quarter earnings report. Despite a dip after the announcement, optimism surrounds Rivian’s cost control and upcoming lower-priced cars.

Last week, Rivian reported a better-than-expected Q1 gross profit, surpassing Wall Street’s forecasts with adjusted losses of $0.48 per share against expectations of $0.92 per share. The company also reported a revenue of $1.24 billion compared to the $1.01 billion anticipated.

However, the EV automaker cut its 2025 delivery forecast and capital spending due to President Donald Trump’s tariffs. It explained that it is “not immune to the impacts of the global trade and economic environment.” RIVN stock dropped nearly 6% post-earnings, closing at $12.72 per share.

Wall Street remains upbeat about Rivian, citing progress toward launching lower-priced vehicles in 2026 and effective cost management. On Monday, Stifel analyst Stephen Gengaro raised his RIVN price target to $18 from $16, maintaining a “Buy” rating. He highlighted Rivian’s “solid progress” toward key milestones.

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Conversely, Bernstein’s Daniel Roeska gave RIVN a “Sell” rating. However, Roeska also lifted his Rivian price target to $7.05 from $6.10, acknowledging “better” Q1 results. He warned that profitability remains distant and hinges on multiple product launches by the decade’s end.

Overall, Wall Street’s average price target for RIVN climbed from $14.18 to $14.31, a modest 13-cent increase reflecting positive sentiment. About one-third of analysts covering Rivian rate it a Buy, compared to the S&P 500’s average Buy-rating ratio of 55%.

On Monday, Rivian stock rose 2.7% to $14.64, slightly trailing the S&P 500 and Dow Jones Industrial Average, which gained 3.3% and 2.8%, respectively. The uptick may also stem from broader market gains tied to news of a temporary U.S.-China tariff suspension.

As Rivian navigates trade challenges and scales production at its Illinois factory, its Q1 performance and analyst support signal resilience. With lower-priced EVs on the horizon, Rivian’s strategic moves could bolster its position in the competitive EV market, offering investors cautious optimism for long-term growth.

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Tesla (TSLA) poised to hit $1 trillion valuation again amid reports of Trump China deal

TSLA stock was up about 8% at $322.56 per share on Monday’s premarket.

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(Credit: Tesla)

Tesla shares (NASDAQ:TSLA) are on a tear on Monday’s premarket amidst reports that the United States and China have agreed to significantly roll back tariffs on each other’s goods for an initial 90-day period.

As of writing, the premarket price of TSLA shares suggests that the electric vehicle maker might end Monday with a $1 trillion valuation once more.

Tesla and China

TSLA stock was up about 8% at $322.56 per share on Monday’s premarket. As noted in a report from Barron’s, these prices suggest that the company could achieve a trillion-dollar valuation again, a level not seen since late February. Similar to Tesla, the S&P 500 and the Dow Jones Industrial Average were also up 2.8% and 2.1%, respectively, on Monday’s premarket.

The United States and China’s decision to roll back its tariffs would likely be appreciated by CEO Elon Musk. Despite working for the Trump administration’s Department of Government Efficiency (DOGE), and despite Tesla being least affected by the Trump administration’s tariffs due to its strong domestic supply chains in the United States, China, and Europe, Musk has noted that he is a supporter of non-predatory tariffs.

The United States and China’s Agreement

In a joint statement from the United States and China posted on the White House’s official website, the two countries agreed to lower reciprocal tariffs on each other by 115% for 90 days. This means that the United States will temporarily lower its overall tariffs on Chinese goods from 145% to 30%, as noted in an ABC 12 report. China, on the other hand, will also lower its tariffs on American goods from 125% to 10%.

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The talks were led by Chinese Vice Premier He Lifeng and Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer, as per the joint statement. Bessent shared his thoughts about the matter in a comment in Geneva. “The consensus from both delegations is neither side wants to be decoupled, and what have occurred with these very high tariffs … was an equivalent of an embargo, and neither side wants that. We do want trade. We want more balance in trade. And I think both sides are committed to achieving that,” he said. 

A spokesperson from China’s Commerce Ministry also shared a statement about the matter. As per the spokesperson, the deal was an “important step by both sides to resolve differences through equal-footing dialogue and consultation, laying the groundwork and creating conditions for further bridging gaps and deepening cooperation.”

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