Tesla's Elon Musk: Goldman Sachs faces 'rude awakening' after downbeat Model 3 forecast
Tesla CEO Elon Musk reportedly sent an email to all employees to fire back at a Goldman Sachs analyst who said the electric car maker’s quarterly Model 3 deliveries will disappoint.
In a memo reported by Bloomberg, Musk linked to a media report detailing the Goldman Sachs report, which projected that Tesla will deliver 22,000 Model 3 vehicles in the current quarter. The analyst, David Tamberrino, said Wall Street’s consensus estimate is 28,000 units.
“They are in for a rude awakening :)” Musk wrote in an email sent on Tuesday, according to Bloomberg.
Tesla didn’t immediately respond to a request for comment.
Musk has taken on Tesla short-sellers and others who have downbeat views of the company. Earlier this month, he wrote on Twitter that investors betting against Tesla “have about three weeks before their short position explodes.”
Tesla is expected to release second-quarter delivery and production results in early July. The current quarter concludes at the end of June.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 357.09 | +11.93 | +3.46% |
Tesla has struggled to increase production of the Model 3 sedan after facing delays. The Palo Alto, California-based automaker built about 2,020 vehicles in the final week of the first quarter, missing an internal target of 2,500 vehicles per week. Tesla’s goal is to hit a weekly production rate of 5,000 Model 3s by the end of June.
One factory in Fremont, California, is responsible for the assembly of all Tesla vehicles. The company recently built a large outdoor tent to house another Model 3 assembly line.