Tesla Sales Come to Screeching Halt in Hong Kong

Tesla’s Elon Musk tweets images of latest car ‘Model 3

Tesla Sales Come to Screeching Halt in Hong Kong

Robert W. Baird restated an "outperform" rating and set a $368.00 price objective on shares of Tesla in a research report on Wednesday, July 5th. And on the occasion, the company also presented two official photos of Musk's new ride (he also owns the first Roadster and Model X, though not the first Model S as well). It will go for about 215 miles on a single charge and go from 0 to 60 miles per hour in just 6 seconds. Influential analysts then raised doubts about Musk's ability to deliver on his lofty promises.

General Motors regained its spot as the biggest United States carmaker by market capitalisation amid greater investor skepticism that chipped away at rival Tesla Motors.

It's our first look at the first production version of the new $35,000-to-start entry-level luxury sedan - and it's little different from the preproduction models already displayed. Tesla CEO Elon Musk said that the city's tax waiver for EVs was "excellent".

The Gigafactory will play a key role in helping Tesla meet its lofty goal of producing 500,000 vehicles annually in 2018, a five-fold production increase.

As its name suggests, it's the third vehicle of Tesla's current line-up, and its fourth ever product since the company opened for business in 2008 - the first Tesla was an all-electric roadster. Tesla has a one year low of $178.19 and a one year high of $386.99.

A prototype of the Tesla Model 3 from 2016. The company's market cap is $51.45 billion.

"What Tesla has done is quite remarkable, and it has forced other automakers to get into the game", said Michelle Krebs, executive analyst at Autotrader. Several automobile shows and plenty of customer reservations later, the first run of Tesla's latest electric cars have begun rolling out of the factory. The slow rollout hints at the company's cautiousness with first Model 3s off-the-line. In a blog post he called Tesla's "master plan", the billionaire businessman outlined his hopes for a cheap, ubiquitous consumer vehicle that was powered exclusively by electricity. The Model S is a costly $69,200 and the Model X is $83,700. "The Model 3 is happening because of you".

Although registrations don't reflect sales of a vehicle exactly, they're a reasonable number to use, especially given that Tesla doesn't release data on sales by country.

Another obvious difference between the vehicles is the Autopilot hardware suite on the production unit. Up until this year, access was free for the vehicle. In March, a total of 2,939 Tesla vehicles were registered, and approximately 3,700 were recorded for the first quarter of 2017.

By offering a high-tech, semi-exclusive glimpse of what transportation could become, Musk helped build a massive following for Tesla, with equally enormous expectations.

The number of electric vehicles on the road rose to two million last year, after being almost non-existent some five years ago, according to a recent update from the International Energy Agency.

Tesla added that it believes the Hong Kong market will be strong in the long-term, saying "it's to be expected that demand will be impacted in the period immediately following the change".

Why not amazed with Tesla Model 3? The company presently has an average rating of "Hold" and a consensus target price of $299.07. With the Model S, Tesla offers four variants - a rear-wheel drive 75 model, an all-wheel drive 75D, a range-focused 100D and the performance-oriented P100D. The brand was taken over by the Chinese automotive giant Geely in 2010.

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