Tesla's 2Q Shows Continued Strong Demand but Also More Cash Burn
We have incorporated Tesla’s second-quarter results into our model and we are leaving our fair value estimate in place but we are lowering our 2017 delivery expectations to 138,000 from 160,000 based on recent guidance. We continue to model 400,000 in 2018 which could be increased if Tesla meets its guidance of 10,000 Model 3 sedans produced per week early in 2018, though we think that’s unlikely. Model 3 will not bring meaningful results to the company’s numbers until at least 2017’s fourth qua...Tesla designs, develops, manufactures, sells and leases electric vehicles and energy generation and storage systems, and provides services related to its products. The company operates as two reportable segments: automotive, which includes the design, development, manufacturing, sales, and leasing of electric vehicles as well as sales of automotive regulatory credits; and energy generation and storage, which includes the design, manufacture, installation, sales, and leasing of solar energy generation and energy storage products, services related to such products, and sales of solar energy system incentives.
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