Tesla Motors Inc (NASDAQ:TSLA)‘s second-quarter figures were mixed, according to Bloomberg‘s Cory Johnson, who considers that some facts were good while others weren’t that good.
“[…] They showed a revival in sales. The company has seen a decline in sales in a quarter-over-quarter basis. And that wasn’t a good thing. March quarter going into June quarter, you thought maybe in the early parts of summer they would sell even fewer cars. But, in fact, Tesla Motors Inc (NASDAQ:TSLA) saw an increase in the number of cars sold. They sold about 1,200 more model S cars, and that meant a 17% quarter-over-quarter increase. They need to do that,” pointed Johnson.
Another interesting fact that Johnson highlighted was with respect to Tesla Motors Inc (NASDAQ:TSLA)’s guidance as per which it has kept the sales target of 35,000 units unchanged, but have lowered the number of cars they will produce for the upcoming quarter. That suggests that Tesla Motors Inc (NASDAQ:TSLA) aims to sell 14,000 models in the fourth quarter alone, twice as much as it has ever sold in any of the previous fourth quarter.
Further, Johnson feels that Tesla’s plan to sell 100,000 cars per year by the end of next year is not realistic. He argued that Tesla Motors Inc (NASDAQ:TSLA) cars cost as much as $125,000, while the limitation related to charging and gas stations are not expected to resolve anytime soon. Thus, it will need an equally excessive and incredible rate of demand to meet that target at such expensive price, added Johnson.
Lastly, Johnson uncovered one of the significant developing stories with respect to Tesla Motors Inc (NASDAQ:TSLA)’s Gigafactory plan, but the percussions of which remain unclear though. He cited from the company’s 8-K filing, “In June, we broke ground just outside of Reno, Nevada on a site that could potentially be the location for the Gigafactory,” which implies that the company is not so far along on this front though they want to convey otherwise.