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Tesla registers more than 6k new Model 3 VINs, estimated ~100% dual motor AWD

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Tesla recently registered a large batch of 6,032 new Model 3 VINs, with almost all of the filings corresponding to the Dual Motor AWD variant of the compact electric car. The new vehicle identification registrations come at a time when Tesla is actively pushing its deliveries for the Model 3.

The new batch of Model 3 Dual Motor AWD VINs was reported by Twitter watchdog group @Model3VINs, which tracks Tesla’s registrations for the vehicle. According to the group, Tesla’s recent filing — which numbers 6,032 new VINs that are estimated to be ~100% Dual Motor AWD — has brought the company’s total number of Model 3 registrations to 69,601 units.

This recent filing stands as yet another sign that Tesla is well on its way to sustaining its production rate of 5,000 Model 3 per week this third quarter. The production milestone was finally attained by the company during the final week of June, but it did not escape criticism from the company’s doubters, some of whom predicted that the Model 3’s 5,000/week “burst” production would be unsustainable. These doubts, together with lower than expected Model 3 deliveries revealed in Tesla’s Q2 2018 delivery and production report, ultimately caused the company’s stocks to tumble last week.

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Since then, however, signs have emerged pointing to the idea that Tesla would be able to sustain its 5,000/week production rate for the Model 3 this third quarter. Just recently, reports emerged from the Tesla community that the company had rolled out configurator emails to all Model 3 reservation holders. This was followed by an encouraging trend displayed by Bloomberg‘s Model 3 production tracker, which currently forecasts that Tesla would be able to sustain its “burst” production rate of 5,000 vehicles per week for the next three weeks. Bloomberg‘s Model 3 production tracker has become more accurate over the past few months, with the system only being 2% off its estimates for Tesla’s Q2 figures for the compact electric car. With this in mind, there is a pretty fair chance of the tracker’s favorable forecast for Model 3 production would prove to be accurate.

Bloomberg’s Tesla Model 3 tracker as of 7/11/18. [Credit: Bloomberg]

Tesla has also started changing its strategy for the Model 3. Since the vehicle reservations exceeded the company’s estimates, Tesla has embarked on an initiative to anti-sell the compact electric car. CEO Elon Musk, for one, noted on Twitter that the Model 3, while newer than the Model S, is not a superior vehicle. Tesla’s official website also included a table comparing the Model S favorably to the Model 3, both in features and in availability. Despite this anti-selling, however, Model 3 reservations remained high, with Tesla most recently confirming that it still has a backlog of 420,000 orders for the electric car.

With the release of configurator emails for reservation holders and the rollout of programs such as test drives in selected stores, as well as a new 5-minute “Sign & Drive” delivery system, Tesla appears to have stopped anti-selling the Model 3. The Model 3, after all, would likely determine whether Tesla could achieve its target of becoming profitable this third or fourth quarter.  

Overall, filings such as today’s batch of 6,032 new Model 3 Dual Motor AWD VINs are encouraging for Tesla. The company, after all, is only producing the Model 3 Performance with Dual Motor AWD for now. Among the Model 3’s variants, the Performance trim, which comes with Dual Motor AWD as default, features a healthy profit margin, with the vehicle starting at $64,000. With this in mind, this newest batch of Model 3 filings, provided that the cars do get delivered this third quarter, could definitely help Tesla’s profitability goals this Q3 2018.

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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Tesla called ‘biggest meme stock we’ve ever seen’ by Yale associate dean

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Credit: Tesla

Tesla (NASDAQ: TSLA) is being called “the biggest meme stock we’ve ever seen” by Yale School of Management Senior Associate Dean Jeff Sonnenfeld, who made the comments in a recent interview with CNBC.

Sonnenfeld’s comments echo those of many of the company’s skeptics, who argue that its price-to-earnings ratio is far too high when compared to other companies also in the tech industry. Tesla is often compared to companies like Apple, Nvidia, and Microsoft when these types of discussions come up.

Fundamentally, yes, Tesla does trade at a P/E level that is significantly above that of any comparable company.

However, it is worth mentioning that Tesla is not traded like a typical company, either.

Here’s what Sonnenfeld said regarding Tesla:

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“This is the biggest meme stock we’ve ever seen. Even at its peak, Amazon was nowhere near this level. The PE on this, well above 200, is just crazy. When you’ve got stocks like Nvidia, the price-earnings ratio is around 25 or 30, and Apple is maybe 35 or 36, Microsoft around the same. I mean, this is way out of line to be at a 220 PE. It’s crazy, and they’ve, I think, put a little too much emphasis on the magic wand of Musk.”

Many analysts have admitted in the past that they believe Tesla is an untraditional stock in the sense that many analysts trade it based on narrative and not fundamentals. Ryan Brinkman of J.P. Morgan once said:

“Tesla shares continue to strike us as having become completely divorced from the fundamentals.”

Dan Nathan, another notorious skeptic of Tesla shares, recently turned bullish on the stock because of “technicals and sentiment.” He said just last week:

“I think from a trading perspective, it looks very interesting.”

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Nathan said Tesla shares show signs of strength moving forward, including holding its 200-day moving average and holding against current resistance levels.

Sonnenfeld’s synopsis of Tesla shares points out that there might be “a little too much emphasis on the magic wand of Musk.”

Elon Musk just bought $1 billion in Tesla stock, his biggest purchase ever

This could refer to different things: perhaps his recent $1 billion stock buy, which sent the stock skyrocketing, or the fact that many Tesla investors are fans and owners who do not buy and sell on numbers, but rather on news that Musk might report himself.

Tesla is trading around $423.76 at the time of publication, as of 3:25 p.m. on the East Coast.

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Elon Musk affirms Tesla commitment and grueling work schedule: “Daddy is very much home”

The remarks came as Tesla shares crossed the $400 mark on the stock market.

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Tesla CEO Elon Musk reiterated his commitment to the electric vehicle maker and its future projects this week, responding to speculation following his $1 billion purchase of TSLA stock. 

The remarks came as Tesla shares crossed the $400 mark on the stock market, extending a rally fueled in part by Musk’s TSLA purchase.

Elon Musk’s nonstop work schedule

Amidst the reaction of TSLA stock to Musk’s $1 billion investment, Tesla owners such as @greggertruck noted that “Daddy’s home.” Musk replied, stating that “Daddy is very much home.” He then shared details of a packed weekend of work, which was definitely grueling but completely within character for a “wartime CEO.”

Musk did note, however, that he had lunch with his kids during the weekend despite his extremely busy schedule.

“Daddy is very much home. Am burning the midnight oil with Optimus engineering on Friday night, then redeye overnight to Austin arriving 5am, wake up to have lunch with my kids and then spend all Saturday afternoon in deep technical reviews for the Tesla AI5 chip design. 

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“Fly to Colossus II on Monday to walk the whole datacenter floor, review transformers and power production (excellent progress), depart midnight. Then up to 12 hours of back-to-back meetings across all Tesla departments, but with a particular focus on AI/Autopilot, Optimus production plans, and vehicle production/delivery,” Musk wrote in his post

Wartime CEO

Wedbush analyst Dan Ives described Musk as operating in “wartime CEO mode,” highlighting autonomous driving and AI as a trillion-dollar market opportunity for Tesla. Musk reiterated this point late last month as well, when he outlined the several projects he is juggling among his numerous companies. At the time, Musk stated that he was busy with Starship 10, Grok 5, and Tesla V14. This was despite his notable presence on X. 

With Tesla Master Plan Part IV being partly released, the company is entering what could very well be its most ambitious stage to date. To usher in an era of sustainable abundance, Tesla would definitely require a “wartime CEO,” someone who could remain locked in and determined to push through any obstacles to ensure that the company achieves its goals.

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Tesla analyst says Musk stock buy should send this signal to investors

“With Musk’s (Tesla stock) purchase, combined with the upward momentum for delivery expectations and robotaxi rollout, we are becoming more bullish.”

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(Credit: Tesla)

Tesla CEO Elon Musk purchased roughly $1 billion in Tesla shares on Friday, and analysts are now breaking down the move as the stock is headed upward.

One of them is William Blair analyst Jed Dorsheimer, who said in a new note to investors on Monday that Musk’s move should send a signal of confidence to stock buyers, especially considering the company’s numerous catalysts that currently exist.

Elon Musk just bought $1 billion in Tesla stock, his biggest purchase ever

Dorsheimer said in the note:

“With Musk’s (Tesla stock) purchase, combined with the upward momentum for delivery expectations and robotaxi rollout, we are becoming more bullish. This purchase is Musk’s first buy since 2020. To us, this sends a strong signal of confidence in the most important part of Tesla’s future business, robotaxi.”

Musk putting an additional $1 billion back into the company in the form of more stock ownership is obviously a huge vote of confidence.

He knows more than anyone about the progress Tesla has made and is making on the Robotaxi platform, as well as the company’s ongoing efforts to solve vehicle autonomy. If he’s buying stock, it is more than likely a good sign.

Tesla has continued to expand its Robotaxi platform in a number of ways. The project has gotten bigger in terms of service area, vehicle fleet, and testing population. Tesla has also recently received a permit to test in Nevada, unlocking the potential to expand into a brand-new state for the company.

In the note, Dorsheimer also touched on Musk’s recent pay package, revealing that William Blair recently met with Tesla’s Board of Directors, who gave the firm some more color on the situation:

“We recently participated in a meeting with Tesla’s board of directors to discuss the details of Musk’s performance package. The board is confident of its position in the Delaware case and anticipates a verdict by end of year. It does not expect a similar situation to occur under new Texas jurisdiction. Musk has the board’s full support, and we expect he’ll get more than enough shareholder support for this to pass with flying colors.”

Tesla stock is up over 6 percent so far today, trading at $421.50 at the time of publication.

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