In this briefing:
1. Tesla’s New Plan – Buy Before You Try
Tesla Motors (TSLA US) revealed that’s its big news teased since Wednesday night was the long-promised launch of the “Everyman” version of its flagship Model 3 priced at $35k, give or take depending on new options for range and interior selections.
Buried in the lede is that Tesla also is initiating additional price cuts across the board, including for Models S and X. It’s moving to an online-only sales strategy and closing hundreds of stores which will trigger additional layoffs.
Oh, and the first quarter will not be profitable after all, according to CEO Elon Musk on the conference call today to discuss Tesla’s announcements.
So is Telsa pursuing a new, evolving strategy for the future or is it being pushed to retrench?
Read on for Bond Angle analysis.
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