Tesla cuts number of stock colours to streamline production

Judy Cobb
September 14, 2018

Those targets sounded ambitious and, perhaps a better term, unrealistic at the time, because in 2015, Tesla was making only slightly over 25,000 cars a year (a majority were the Model S, Tesla's first model). Once Tesla is manufacturing the full range of the Model 3's variants, it would not be too surprising if the vehicle ends up dethroning best-selling passenger cars like the Toyota Camry in the United States.

What's left in the menu will be solid black, deep blue metallic, midnight silver metallic, red multi-coat, and the pear-white multi-coat, a Reuters report added.

In a tweet, Tesla CEO Elon Musk said the company's models will now be available in five primary colors.

CEO of Tesla has previously noted how the paint shop at the Fremont factory has become a bottleneck for their ambitions production plans. "They still need a lot production know-how", said Frank Schwope, an analyst with NORD/LB. Then, earlier this month, a handful of Tesla executives announced their departure after Musk appeared on The Joe Rogan Experience podcast speaking on topics such as electric airplanes while sipping whiskey and smoking marijuana.

On Tuesday, longtime bullish brokerage Nomura Instinet downgraded the stock to "neutral" from "buy" and slashed its price target by US$100 to US$300, citing Musk's "erratic behavior".

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The note said a USA securities probe following Musk's brief flirtation with taking the electric auto maker private was unlikely to have an impact, although the frequent turnover of senior Tesla executives was more concerning.

Company shares fell more than 2 percent. But don't worry, if you really want them, they can be made available as a special request, just as long as you're willing to pony up a bit more than their current $1,500 price tags.

"Since I joined Tesla on August 6th, the level of public attention placed on the company, as well as the pace within the company, have exceeded my expectations", said a statement from Morton released by the company in a filing with the Securities and Exchange Commission.

Shares of the company, which closed up 8.5 per cent at $285.50 on Monday after two brokerages said it could meet its production targets for the second half of the year, fell almost 2 per cent before the bell on Tuesday.

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