Tesla Investors Fret On Meeting Delivery Targets Ahead Of Q2

It's been an interesting week for electric vehicle manufacturing mammoth, Tesla (NASDAQ:TSLA), whose share price jumped almost 7 percent on Thursday (August 3), following the release of its Q2 results on Wednesday (August 2).

Elon corrected a statement he made at the event that Tesla had booked over 500,000 net reservations for the Model 3, changing that to 455,000.

The shares rose 2.5 percent to $334.06 as of 4:35 p.m. Wednesday, after the close of regular trading.

Also on Thursday, Consumer Reports said GM's Chevrolet Bolt electric auto, priced at $US37,495, reached 250 miles (402km) on a single charge, beating out Tesla's 2016 Model S 75D and 2016 Model X 90D.

General sales of electric vehicles in the US stays stuck at less than 1% of the entire vehicle trade, in spite of a rising myriad of models fielded by other auto makers and Tesla. It expects to make a margin of 25 per cent when the Model 3 is in full production. Musk has said the first six months of manufacturing the Model 3 will be "production hell".

The Silicon Valley company's mission to provide cheap Model 3 vehicles caused Tesla to plow through more than $1 billion in cash during the last quarter of 2017.

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Ongoing investment into its battery-producing Gigafactory in Nevada, as well as research and development for future models, has led to it accruing losses of $336 million (£254m) in the three-month period, up from $293m (£221m) in 2016.

To bring the electric auto to the mainstream market, the company is planning a Model 3 production ramp: In August, 100 more of the battery-sedan will be built, followed by 150 in September.

Year-to-date, shares of Tesla have increased over 63 percent to $346.20, although Business Insider reported on Thursday that the company's stock price increase is "crushing short sellers". At the same time, Model S and Model X orders have been increasing.

Senior Analyst Clement Thibault reported another problem with customer support and especially refunding the $1,000 deposit buyers had to pay in order to reserve a Model 3.

Adjusted Q2 loss per share of $1.33 vs. adjusted loss of EPS of $1.61, is narrower than the consensus loss per share estimate of $1.91. Tesla just delivered the first 30 units of the new model last week, and production is gruelingly slow right now.

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