Zach Kirkhorn, Tesla's Vice President of Finance, will be taking over as CFO.
Those vehicles would substantially increase the markets Tesla can address.
But the latest earnings were down from the $312 million profit Tesla posted for the previous quarter and lower than investors had hoped. UBS Group lowered their price target on Tesla from $230.00 to $220.00 and set a "sell" rating for the company in a report on Tuesday.
Speaking to analysts following Tesla's Q4 earnings report, CEO Elon Musk said he estimates global Model 3 demand to reach 700,000 to 800,000 units per year in a strong economy. Ahuja was the main point of contact for the sell-side automotive analysts I speak to regularly, and he was tasked with smoothing over relations with the Street-including Bernstein's Toni Sacconaghi-after Musk referred to one of Sacconaghi's questions as "boneheaded" on Tesla's disastrous May 2018 earnings call.More news: Qatar pelted with shoes as they stomp UAE to reach final
Musk told investors that the Model Y volume production would start towards the end of 2020. Although launching the vehicle involved a well-documented "production hell", according to Musk, the company expects to produce 7,000 Model 3s per week on a sustained basis by the end of 2019.
A likely humorous rendering of a very big pickup with what appears to be an F-150 in its bed was released past year, but there may end up being a Ford in front of it. "Our auto is very expensive going into China with import duties and the higher cost of labor here".
Tesla was under intense pressure previous year, as it spent rapidly to improve production and get its latest vehicle into the hands of customers.
Musk said Tesla is also focused heavily on improving service operations in North America after reports of poor customer service and fix delays. Musk is hopeful that the negotiations go well but he said that they need to deliver the cars while there's sort of a de facto sort of a truce on the tariff war.More news: 6ix9ine Pleads Guilty to 9 Federal Counts
"Tesla has a fantastic brand, and by all accounts a fantastic product, but we're anxious it's also fantastically expensive", said Nicholas Hyett, Equity Analyst at Hargreaves Lansdown. Tesla has a few hundred orders for the $150,000-$180,000 truck, but those customers may have to wait a little longer to pick theirs up.
Chief Executive Officer Elon Musk said on a post earnings call on Wednesday that Tesla's Fremont factory is focused nearly entirely on building Model 3s for China and Europe. Tesla's shares fell sharply by almost 5% in after-hours trading.
The demand for - the demand for Model 3 is insanely high. The titles are as follows: "Consumer Sector Update for 01/02/2019: TSLA, CROX, NFLX - Nasdaq" posted on January 02, 2019, "The Bottom Line for Tesla, Inc".
'Tesla has a fantastic brand, and by all accounts a fantastic product, but we're anxious it's also fantastically expensive.More news: Death toll in mining dam collapse rises to 65