Investor's Corner
Tesla Model 3 Mid Range RWD deliveries are starting earlier than expected
Tesla appears to be learning the art of under-promising and over-delivering. When Tesla announced the Mid Range Model 3, the company noted that deliveries of the vehicle would likely begin within 6-10 weeks. If recent reports from the Tesla community are any indication, though, it appears that deliveries for the Mid Range Model 3 have already begun, less than two weeks since the vehicle was initially launched.
In a recent post, Tesla Motors Club member ivan801 noted that he had taken delivery of his Mid Range Model 3. Based on images shared by the Model 3 owner, his vehicle was a solid black variant with black interior and 18″ Aero Wheels. The vehicle’s VIN was also in the 150k-range, suggesting that Tesla registered the electric car on October. The past month, after all, saw Tesla register more than 61,000 new Model 3 VINs, starting the month with numbers in the 118k-range and ending the month with the highest VINs at the 179k-range.
Apart from the TMC member’s post, a video of a Model 3 accelerating on a freeway on-ramp was recently uploaded on YouTube as well. The video’s owner dubbed the vehicle as the “economy” variant of the Model 3 in the clip’s description, though in later comments, the uploader remarked that the vehicle was a Mid Range Model 3. The short clip featured the vehicle accelerating from a sub-20 mph rolling start, and based on the video; it appears that even Tesla’s “slowest” vehicle to date is still pretty quick on its feet.
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- A Mid Range Tesla Model 3 RWD. [Credit: ivan801/Tesla Motors Club]
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- A Mid Range Tesla Model 3 RWD. [Credit: ivan801/Tesla Motors Club]
A Mid Range Model 3 has been delivered to a reservation holder. [Credit: ivan801/Tesla Motors Club]
In the days prior to the car’s announcement, Elon Musk began teasing the arrival of a “lemur” on Twitter. On October 18, Tesla released the Mid Range Model 3, a lower-cost version of its electric sedan that initially cost $45,000 before incentives. Neither Tesla nor Elon Musk announced the reasons behind the “lemur” references, though the little primate’s name could be a clever play on the vehicle’s LEMR variation (Limited Edition Mid Range, perhaps?).
While the price of the Mid Range Model 3 was adjusted to $46,000 not long after the vehicle was released, the new variant does offer budget-conscious reservation holders the opportunity to join the Tesla ecosystem at a time when the full $7,500 federal tax credit is still in effect. Earlier this year, Tesla sold its 200,000th electric car in the United States, triggering a phase-out period for its vehicles’ $7,500 federal tax credit. With the phase-out period in effect, electric cars that will be delivered starting January 1, 2019, would only be eligible for a $3,750 tax credit, 50% less than those who would take delivery before the end of 2018.
A recent email from Tesla to reservation holders noted that deliveries for the Mid Range Model 3 would start in as little as four weeks. According to Tesla’s communication, “current delivery timelines are 4 weeks for the west coast, 6 weeks for central and 8 weeks for the east coast.” The electric car maker further noted that those who can pick up their vehicle directly from the Fremont factory would likely see deliveries in “under four weeks.”
The Mid Range Model 3, at its current price, represents a $3,000 savings from the Long Range RWD variant of the vehicle, which was the first version that Tesla started producing. With the price savings comes a number of compromises in terms of performance, though, as the Mid Range Model 3 features a 260-mile range, a 0-60 mph time of 5.6 seconds, and a top speed of 125 mph. In contrast, the Long Range RWD variant, which started at $49,000 before incentives, has a range of 310 miles per charge, a 0-60 mph time of 5.1 seconds, and a top speed of 140 mph.
Tesla’s deliveries for the Mid Range Model 3 comes amidst Tesla’s improving production ramp for the vehicle. The past quarters have been difficult for the electric car maker, with Elon Musk dubbing the Model 3 ramp as “production hell.” After hitting its goal of producing 5,000 Model 3 per week at the end of the second quarter, though, the winds started to shift for the company. Things continued to improve in the third quarter, with Tesla delivering 55,840 Model 3 from July to September. What’s more, the company also surprised Wall Street by posting $6.8 billion in revenue and beating earnings estimates with a GAAP profit of $312 million.
With large numbers of Mid Range Model 3 expected to be delivered in the fourth quarter, and with upgrades from Panasonic and Grohmann expected to be installed in Gigafactory sometime in Q4, the current quarter might very well become Tesla’s most impressive yet.
Watch a Mid Range Model 3 accelerate on a highway on-ramp in the video below.
Elon Musk
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.
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.
“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.
Elon Musk
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.”
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.
Elon Musk
Elon Musk just bought $1 billion in Tesla stock, his biggest purchase ever
Prior to this latest move, Musk’s most recent purchase was for about 200,000 shares worth $10 million in 2020.
Tesla (NASDAQ:TSLA) shares rose on Monday after CEO Elon Musk disclosed a rare insider purchase of company stock worth about $1 billion.
A filing with the U.S. Securities and Exchange Commission (SEC) revealed that Musk acquired 2.57 million shares last Friday at various prices. The move represents Musk’s largest TSLA purchase ever by value, as per Verity data.
Elon Musk’s TSLA purchase
The disclosure sent Tesla shares up more than 8% in premarket trading Monday, as investors read the purchase as a notable vote of confidence, as stated in a CNBC report. Tesla stock had closed slightly lower Friday but remains more than 25% higher over the past three months. It should be noted that prior to this latest move, Musk’s most recent purchase was for about 200,000 shares worth $10 million in 2020.
Market watchers say the purchase could help shore up investor sentiment amid a volatile year for TSLA stock. Shares have faced pressure from a variety of factors, from year-over-year sales challenges due to the new Model Y changeover, political controversies tied to Musk, and reduced U.S. incentives for EVs under the Trump administration. Nevertheless, analysts such as Wedbush’s Dan Ives stated that Musk’s purchase was a “huge sign of confidence for Tesla bulls and shows Musk is doubling down on his Tesla A.I. bet.”
Tesla and Elon Musk
Musk already owns about 13% of Tesla, and his latest purchase comes as the company prepares for a key shareholder vote in November. Investors will decide whether to approve a compensation package for Musk that could ultimately be worth as much as $975 billion if ambitious market value milestones are achieved. The package has a long-term target of pushing Tesla’s market capitalization to $8.5 trillion, compared with about $1.3 trillion at Friday’s close.
Wall Street’s current consensus price target still implies a roughly 20% decline from current levels, though some Tesla bulls remain optimistic that the company could shift its focus toward autonomy, AI, and robotics. Musk has also asked shareholders to approve an investment into his latest venture, xAI.
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