The Tesla share fell 5 percent on Friday, when analysts speculated that the new model Y-car will undermine the momentum of model 3.
Elon Musk's discovery of a new electric vehicle that Tesla will not deliver to customers in another year and a half resumed concern about the company's cash position.
The overall model Y transition that the CEO debuted late on Thursday in Hawthorne, California, will begin delivering to customers over the next year, later than some analysts expected. The company immediately started taking $ 2,500 pre-orders, larger than $ 1,000, which were first charged to reserve a model 3-seater.
"More expensive customer deposits for Model Y will probably increase the bears' concerns about Tesla's money," analyst Toni Sacconaghi said. with Sanford C. Bernstein, said in a report Friday. "We expect initial orders to be significantly lower than model 3."
Tesla shares fell 5 percent Friday.
At Tesla's design studio, Musk showed a blue prototype of medium-sized Model Y, which is approximately 1
By showing the model Y and still keeping most customers waiting for the next half of next year, Tesla risks undermining the momentum of model 3, which beats the automaker's sales charts and helped Musk record the back-to-back quarterly profit. Investors expect model Y to help the company better meet the demands of consumers who form sedans for spacious transitions and SUVs.
Musk took the stage Thursday before a lot of customers and fans, but was uncharacteristically inferior. He spent much of his presentation and talked about the company's struggle with production.
He was not the usual charismatic Elon Musk. He was super low key, "said Michael Harley, Executive Vice President of the Kelley Blue Book, who was at the event. He was almost apologetic. It was a bit of a reality check. People in the crowd like the car, but Musk spent only a fraction of his time talk about it. ”
Only one of the new models was run on the stage where it shared the limelight with other older vehicles.With the 2016 disclosure of model 3, Musk showed three cars and flashed the increasing number of customer deposits on a screen while they
At the model's unveiling, Musk said nothing about taking orders or deposits, although Tesla's website allows people to submit full refundable preorders, while model 3 customers deposited $ 1000 deposits and then had to pay $ 2500 to set up and order, model Y buyers will only pay the latter amount.
Nevertheless, the more expensive initial price of model Y customers "suggests that Tesla is still in an uncertain cash position," Jeffrey Osbor ne, an analyst at Cowen & Co. with corresponding sales figures on the shares, wrote in a report. "We are still concerned about the company's liquidity."