Having hit its target of producing its Model 3 electric cars before the end of July, Tesla Inc (NASDAQ:TSLA) now has earnings targets to worry about.
The company is scheduled to release second quarter results after the bell on Wednesday, and once again it is expected to reveal a humungous loss.
According to data aggregator Factset, analysts are expecting a loss per share of US$2.40, compared with a loss of US$2.09 in the same period of 2016. Stripping out one-off items, the adjusted loss per share is expected to shrink to US$1.86; this is the number to look out for when the results come out.
The company’s employees got their hands on the first Model 3s to roll off the production line on Friday and the company has said it will initially focus on satisfying demand from employees before the general public gets its chance to buy one.
At a minimum of US$35,000, the Model 3 is considerably cheaper than other Tesla models and therefore is likely to be the first Tesla car that a sizeable proportion of Tesla employees can afford.
In return, Musk appeared to promise them “production hell” as he admitted the company had its work cut out to satisfy demand.
Tesla expects to build around 5,000 Model 3s a week this year and figures to ramp that up to close to 10,000 units a week next year.
Wednesday will be a bit early to get a handle on how well production is going, or sales for that matter, but founder Elon Musk is not once to pass up the opportunity to provide a sound-bite or two (thousand), so there will almost certainly be an upbeat outlook statement from him.
Meanwhile, the fan boys and fan girls are already out there frothing at the mouth with enthusiasm in the style pioneered by Apple fans.
I drove the #Model3, it was FABULOUS, this car is a game changer. Congrats to everyone at @TeslaMotors thank you for electrifying our world! pic.twitter.com/QNobkhUdQo
— Leilani Münter (@LeilaniMunter) July 29, 2017
… but they are not without a sense of humour.
Hey @TeslaMotors is my #Model3 ready? I should get it later today, even before @elonmusk since I reserved it in 1969 according to My Tesla pic.twitter.com/yiOq9LY6tl
— Saul Lopez (@slcuervo) July 28, 2017
The car review web sites have also been weighing in …
The Tesla #Model3 interior doesn't look like any car you've ever seen https://t.co/9lMoTywqrE pic.twitter.com/wQLjiE9rHT
— The Verge (@verge) July 29, 2017
.@TeslaMotors delivers on a mass market, affordable EV. And believe the hype, the #Model3 is massively impressive. https://t.co/L9C5bnFhh9 pic.twitter.com/Db3to4Wc3F
— Roadshow (@roadshow) July 29, 2017
There’s even a Model3 Owners Club, which until last Friday must have been an even more exclusive club than the Swiss Admiral’s Club.
The massive stage for the Model 3 launch event #partyofthedecade #tesla #model3 #launch pic.twitter.com/LWCVFKjeAi
— Model 3 Owners Club (@Model3Owners) July 28, 2017
Of course, some people are never satisfied, but this tweet might well have made Henry Ford smile.
Tesla Model 3 Will Cost $1000 Extra for Color Other Than Black: The spanking new Model 3 from Tesla will be coming… https://t.co/go6SieJwQ6
— Rumor About (@rumorabout) July 31, 2017