Deliveries kicked off Friday night with the company's usual amount of fanfare.
Investors should look for Tesla to provide an update on its outlook for Model S and Model X vehicle deliveries, as well as for its expectations for its Model 3 deliveries as the company ramps up production.
Musk has revealed updated reservation numbers for the Telsa's first mass market auto. (NASDAQ:TSLA) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The automaker reported that number to a select group of media members.
The "sports car" was Tesla's first vehicle, the Roadster, which has since gone out of production. In 2006, Musk said Tesla would eventually build "affordably priced family cars" after establishing itself with high-end vehicles like the Model S, which starts at $69,500.
Tesla's stock was down $11.85 at $323.21 at mid-afternoon. A customer pre-ordering a Model 3 today would have to wait until late 2018 to receive the vehicle.
"The Model 3 aims to be more affordable and will bring the brand's most price-sensitive buyers to date, so the availability of tax credits could have major bearing on the decision of buyers on the waiting list", said Jeremy Acevedo, Edmunds senior analyst of data strategy.
The Model 3 will come with a 220-mile-range (354-mile) battery as standard, with the option to upgrade to a long-range battery with a capacity of 310 miles (499 kilometres).
The launch of the Model 3 realises the ambitions of Musk's first master plan for Tesla, written in 2006. Musk said that he is confident that the Model 3 will turn out to be the best vehicle in its class. Tesla's strategy is to become a profitable mass market electric auto producer.
Combating the projections of some stock decreases is the fact that the Tesla Model 3 pricing is still pretty fair for the EV market.
They also note that the vehicle lacks a traditional instrument cluster, which looks a little odd the first time you see it.
The interior of both the versions comes with a 15-inch touchscreen display in a landscape mode, rather than a portrait mode as in Model S. It also comes with a dual cone climate control system, WiFI & LTE connectivity, Tesla app for keyless entry and all the other key elements from Model S. GM's Bolt model also sells at $35,000, but poor sales have recently prompted a pause in its production. Many ordering the Model 3 have been told not to expect their cars until next year.
Squeamish about producing non-luxury cars??
The production of the all-wheel-drive variant of the Model 3 will commence next year.
"As far as service is concerned, we're adding a tonne more service centres, as well as...the ability to service cars at people's homes".