Tesla Cuts Number of Stock Colors to Streamline Production

Tesla Cuts Number of Stock Colors to Streamline Production

Tesla Cuts Number of Stock Colors to Streamline Production

The colors being scrapped by Musk. Tesla hasn't been able to get producing 5,000 cars this quarter.

But if you're willing to pay more you can still get them, Musk said in a tweet.

Shares in Tesla tumbled as the markets opened on Friday after company boss Elon Musk appeared to smoke marijuana during an interview and the company's accounting chief left after a month in the job. Elon Musk is scrambling to ramp up Model 3 production fast enough to turn a profit - and use that money for looming debt payments.

The electric auto manufacturer has warned customers that they have a small window of opportunity to order the colors before its too late.

Automotive news website Electrek said Tesla was now launching its own in-house "Body Repair centers" to reduce repair time with the first nine locations, Reuters also reported.

"With the launch of the Model 3, we saw that consumers were willing to forego compelling alternatives despite extended wait times and a premium price point".

The "Obsidian Black" color which is being shelved.

Tesla fans can still choose as standard colors solid black and "midnight silver metallic", as well as pearl white, deep blue metallic and red.

The "Silver Metallic" colour which is being shelved by Musk.

When the news came out late last week about Elon Musk smoking weed on a podcast, TSLA shares plunged almost 7% early Friday.

It said: "We are about to have the most unbelievable quarter in our history, building and delivering more than twice as many cars as we did last quarter".

"While we expect investors will continue to question management turnover, particularly given intense scrutiny on the company, we do not think the turnover is indicative of problems with financial reporting at the company", they added. Tesla Inc shares were trading at $285.34 per share on Monday afternoon, up $22.10 (+8.40%).

Some senior employees have recently jumped ship too, including head of HR Gabrielle Toledano. "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".

Tesla's Gigafactory, its lithium-ion battery-production facility, "creates a significant barrier for competition and manufacturing capability" that should benefit Tesla over the long term, Kallo and Katter said.

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