Tesla cuts number of stock colours to streamline production

Flat Earth and Tesla Roadster

Flat Earth and Tesla Roadster

"This will be effective on Thursday, September 13, 2018, after which Metallic Silver and Obsidian Black Metallic will be offered only as limited edition colors via special request at a cost of $2,000 only until Friday, September 21, 2018".

The colour options that will still be available are solid black, midnight silver metallic, deep blue metallic, pearl-white multi-coat, and red multi-coat.

Tesla has struggled to make the change from small-production luxury vehicle brand to a full-fledged mass-market automaker. Tesla hasn't been able to get producing 5,000 cars this quarter.

But Sacconaghi said the company remained on track to meet key auto manufacturing targets in the third quarter and predicted shares would return to their historic range as the aborted go-private campaign becomes a more distant memory.

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.

Customers should check for current pricing and packaging options on Tesla's website, the statement 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.

A Tesla spokesperson expanded on the changes when reached by Reuters.

Tesla's turbulent stock price - and even more volatile CEO - steal the headlines. However, the firm downgraded its Tesla rating to neutral from buy, noting that some of Musk's recent behavior could weaken consumer confidence in the brand.

David Morton, Tesla's chief accounting officer, resigned within hours of Musk's antics on Rogan's podcast, citing the company's "level of public attention".

Tesla has potential to grow revenue and post substantial profits because it is vertically integrated, making its own batteries and many of its parts, Shah wrote.

Shah added, "We believe that Tesla is in need of better leadership (an about face) and are moving to the sidelines until we see what happens with management".

The note said a U.S. securities probe following Musk's brief flirtation with taking the electric vehicle maker private was unlikely to have an impact, although the frequent turnover of senior Tesla executives was more concerning.

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