Here's Why Tesla Inc. (NASDAQ:TSLA) Is Sinking Fast

Tesla Model S Model X get power boost in latest update

However, the recent second quarter delivery report has put a huge dent on the enterprise with people believing that the automaker is not capable of delivering the number of cars it promised. Tesla says the five-seat auto will be able to go 215 miles (346 kilometers) on a single charge and will be sporty, accelerating from zero to 60 miles per hour in under six seconds. The company has been shifting the cell chemistry of its latest packs to using more silicon rather than graphite, Mr Musk said at the time.

Adding to Tesla's woes, the company is facing a more crowded market after Swedish rival Volvo announced Wednesday that it will phase out production of conventional petrol-only cars from 2019, with all new models to be either electric or hybrids. "Looks like we can reach 20,000 Model 3 cars per month in December", he wrote. Berenberg Bank upgraded shares of Tesla from a hold rating to a buy rating and raised their price objective for the stock from $193.00 to $464.00 in a research report on Tuesday, June 13th.

The company delivered 25,051 vehicles in the first quarter and aims to make 500,000 in 2018 and 1 million in 2020. That's almost as many vehicles as the company has delivered quarterly over the a year ago. Vetr now has $361.37 target price on the electric vehicle producer's stock. We project the two vehicles to sell around 110,000-120,000 units combined each year.

Second-half Model S and Model X deliveries are expected to exceed first-half sales "provided global economic conditions do not worsen considerably", Tesla said on Monday.

Musk has said a new fleet of mobile service trucks will be deployed to help customers who are far from service centers. Robert W. Baird set a $368.00 target price on Tesla and gave the company a "buy" rating in a report on Thursday, March 16th.

Investors have pushed up shares of Palo Alto, Calif. -based Tesla 72 percent this year in anticipation of the Model 3. But that's changing. GM beat Tesla to the mass market with the Chevrolet Bolt, a $36,000 vehicle that goes 238 miles (about 200 kilometers) per charge. Tesla also said that some of the executives of the company also attended the event as they wanted to know about the work environment and how they can improve it in the future. Volkswagen plans more than 30 electric vehicle models by 2025.

Other automakers are accelerating efforts to offer long-range electric vehicles similar to the ones Tesla offers. And they have deeper pockets.

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. Tesla has had only two profitable quarters in its seven years as a public company. The Model 3's range on a single electric charge was corrected to 215 miles.

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