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Tesla starts taking Model 3 orders in China

Tesla starts taking Model 3 orders in China

Now, Tesla has taken things a step further, opting to slash the price of its Model 3, Model S, and Model X vehicles by $2,000 across the board.

CEO Elon Musk discussed the company's latest issue stating: "What people should absolutely have zero concern about, and I mean 0, is that Tesla will achieve a 10,000 unit production week by the end of next year".

While Tesla reported yet another historic quarter that saw the company delivering an average of 1,000 vehicles per day, Wall Street has not taken kindly to the electric auto maker's Q4 2018 results.

But it also said it would cut prices of its three models by $2,000 to help customers handle the gradual phase-out of federal electric vehicle tax credits.

Tesla announced a $2,000 reduction in the price of all vehicles to partially offset expiring tax credits, but the move wasn't enough to stop Wall Street from punishing the company today.

The electric vehicle maker's shares tumbled more than 9 percent in morning trading.

Post-holiday, partial government shutdown to gain impact
You don't know me, but my grandfather was a game warden in Montana and we spent our vacations going to our 2 national parks. The shutdown started Saturday after funding lapsed for nine Cabinet-level departments and dozens of agencies.

In Q4, we produced and delivered at the rate of almost 1,000 vehicles per day, setting new company records for both production and deliveries.

"This was a good quarter in terms of production ramp and strong underlying demand, but Tesla came up shy of bull expectations and this will be the focus of the street", Daniel Ives, an analyst at Wedbush Securities, said in an email to Bloomberg.

Tesla boosted production during the quarter, churning out 86,555 vehicles, up 8 percent from 80,142 during the third quarter, the company said.

The automaker's third-quarter pre-tax profit was around $3,200 per vehicle delivered, but for the first nine months of 2018 the company suffered a loss per vehicle delivered of $8,019, according to Reuters calculations.

Tesla will be announcing its Q4 financials later this month. The carmaker also reported fourth-quarter deliveries that fell just short of analysts' estimates. But customers in those markets still have several weeks to wait, with the company now saying those deliveries will start in February. This is despite the electric vehicle maker only producing mid and high-priced variants for the Model 3, and deliveries only being exclusive to North America.

"There remain significant opportunities to continue to grow Model 3 sales by expanding to worldwide markets, introducing lower-priced variants and offering leasing", Tesla said in a press release.

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