Tesla Misses Q1 Targets But Gets Even More Ambitious

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 Tesla Motors (NASDAQ: TSLA) reported its Q1 results on Wednesday, May 4th. The company missed its delivery target for Q1 because it could not produce the required number of Model X SUVs to do so. However, the most significant event for the company this quarter was the launch of its mass market sedan, the Model 3. The company has already received 325,000 pre-orders for the vehicle and decided to push forward its target of producing half-a-million vehicles per year from 2020 to 2018. Consequently, the company warned that its capital expenditure for 2016 would exceed previous guidance by at least 50%. The Silicon Valley based automaker also affirmed its delivery target of 80,000 units for the full year 2016.

tesla q1 earningsNote:

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Notes:

1) The purpose of these analyses is to help readers focus on a few important things. We hope such lean communication sparks thinking, and encourages readers to comment and ask questions on the comment section, or email content@trefis.com

2) Figures mentioned are approximate values to help our readers remember the key concepts more intuitively. For precise figures, please refer to our complete analysis for Tesla Motors

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