The vehicles pass the Tesla Inc. assembly plant in Fremont, California, USA, on Monday, May 11, 2020.
David Paul Morris | Bloomberg | fake pictures
Around 11:00 am California time Wednesday, Tesla CEO Elon Musk sent an email congratulating his tens of thousands of employees.
“It is amazing how well you performed it, especially in such difficult times. I am so proud to work with you!” Read the email in its entirety.
Tesla is expected to report its second-quarter vehicle delivery and production numbers after Thursday’s bell, and Musk’s email on Wednesday suggests Tesla reached its goals. He follows Musk’s exhortation earlier in the week to “do your best” as “reaching break-even point looks very tight.”
According to a consensus of analysts polled by FactSet, as of July 1, Wall Street expects Tesla to deliver 72,000 vehicles for the period. (Estimates range from 39,000 to 86,000 expected units.)
Auto sales fell during the second quarter after the Covid-19 outbreaks led to health restrictions on homes and businesses, mass layoffs, and pay cuts.
Tesla had to shut down its main US auto plant in Fremont, California for several weeks due to sanitary restrictions. Musk challenged and sued Alameda County regulators for their orders and returned to full operations a few days before obtaining official authorization to do so.
To revitalize demand, Tesla cut its electric vehicle prices in the second quarter by up to 6% in North America. It also made price changes in China, where its Shanghai plant went back to work relatively quickly after a health-related shutdown.
Throughout the last month of the quarter, Musk has sent several “Everyone” emails, which were quickly leaked to the press, where shareholders could easily understand his messages.
For example, in early June, Musk sent out a couple of “Everyone” emails, obtained by CNBC and others, bragging about a brilliant review of Model Y in the Wall Street Journal and urging employees to stick with it. motivated in the midst of the Model AND production and delivery problems.
He said in another of the emails: “It is extremely important for us to increase Model Y production and minimize the need for rectification.” He added: “We are doing reasonably well with S, X and 3, but there are production and supply chain challenges with Model Y, as is always the case with new products.”
Tesla shares set new records on Wednesday, giving the company a valuation of $ 208 billion and making it the top-rated car company, ahead of Toyota.
.
