Musk mulls Tesla colour choice reduction | Automotive Industry News

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In a widely released email, Musk writes: "We are about to have the most unbelievable quarter in our history, building and delivering more than twice as many cars as we did last quarter".

Although the situation has been improving, production bottlenecks have continued to bedevil Tesla's new Model 3 sedan, with paint shop capacity and quality issues chief among them.

The stock closed up 8.5 percent on Monday after two brokerages said the company could meet its production targets for the second half of the year. Tesla isn't explaining for now, other than to say it streamlines the production line to some extent.

Tesla is removing obsidian black metallic and silver metallic from its standard color choices, according to a tweet from Musk.

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Daniel Sparks owns shares of Tesla.

The company, based in Palo Alto, California, has struggled to vault from a niche maker of expensive electric vehicles into a mass-market automaker. (TSLA) crashed 30% through Friday since a tweet from its eccentric founder and Chief Executive Officer (CEO) Elon Musk in August indicating that he would take the firm private at $420 per share.

A Tesla spokesperson referred to previous comments in which Musk said Tesla expects to turn a profit in the third and fourth quarters. "I want to be clear that I believe strongly in Tesla, its mission, and its future prospects, and I have no disagreements with Tesla's leadership or its financial reporting".

Alliance Bernstein analyst Toni Sacconaghi, Jr said much of the pressure on Tesla shares over the last month has been due to the sense Musk is "running wild and can't be contained" following a patch of erratic behavior, including a podcast appearance Thursday night in which he smoked marijuana. In the letter, Musk noted that Tesla is poised to have the "most incredible quarter" in its history, and it is about to build and deliver "more than twice as many cars" as it did in Q2 2018.

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The former employee said Musk's prediction that production and deliveries will more than double was realistic and one current employee said Musk's optimism was reflected among the employee's colleagues.

Tesla shares fell Friday, amid news the company had lost two members of its senior leadership team.

But Left told Chatterley he thinks that at the end of the day, Tesla is going to need more cash and it will probably have to sell more stock to raise funding.

Disclosure: I have no ownership in shares of TSLA and have no plans to initiate any positions within 72 hours.

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