Tesla cuts number of stock colors to streamline production

Tesla cuts number of stock colors to streamline production

Tesla cuts number of stock colors to streamline production

The bonds traded for just 84c on the dollar, down from 98c a year ago.

In addition to being a pinch point slowing production, Tesla owners have taken to online forums to cite an unusual number of paint-quality and rust issues with their new Model 3s.

More than $9-B of Tesla's debt is scheduled to mature before Y 2025, including a total of $2.7-B this year and next, according to a Goldman Sachs research report that called the company's balance sheet "concerning".

Tesla CEO Elon Musk gave a timeline in May that suggested deliveries of the $35,000 base-priced Model 3 could begin between the end of September and the end of December.

Late on Thursday, Musk was filmed drinking whiskey, briefly smoking marijuana and wielding a Samurai sword during a two-and-a-half hour live Web show with comedian Joe Rogan that swiftly spread across social media.

"We occasionally adjust pricing and available options to best reflect the value of our products and to streamline our manufacturing operations", a Tesla spokesperson said.

There is a waiting list of more than 400,000 people who want to buy a Tesla, and some have been waiting since March 2016, when the company first started taking orders.

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.

Morton and Toledano, whose departures come shortly after the US Securities and Exchange Commission opened an inquiry into Musk's aborted privatisation plan, join dozens of senior executives who have left Tesla. The fiasco reportedly sparked an SEC investigation into the accuracy of Musk's "funding secured" tweet.

But if you're willing to pay more you can still get them, Musk said in a tweet.

Tesla shares are down 3.9 percent Tuesday. Musk has promised that as it sells more Model 3s the company will turn a sustained net profit starting this quarter.

"She's been wonderful and I'm very grateful for everything she's done for Tesla", Musk said in a blog post. "We now see the near-term risk-reward for Tesla as relatively skewed to the upside, given the potential for the stock to revert towards the middle of its $270 to $370 range", the analyst wrote.

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