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Musk Urges Tesla Staff To 'Go All Out' Through End Of Q2: Report

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Musk Urges Tesla Staff To 'Go All Out' Through End Of Q2: Report

Lending credence to the theory of a quarter-end wave boosting Tesla Inc's (NASDAQ: TSLA) performance, CEO Elon Musk is marshaling the troops for one last push that could buoy what is widely believed to be an otherwise weak quarter.

Musk's Rallying Cry: For many reasons, Tesla's execution worldwide is concentrated on the final week of the second quarter that ends June 30, Electrek reported, quoting an internal email sent by Musk to the electric vehicle manufacturer's employees.

"It is very important that we go all out through end of June 30 to ensure a good outcome. Wouldn't bring this up if not very important," Musk reportedly said in the email.

Tesla's Quarter: Tesla has contended with both supply and demand side disruptions in the quarter. The raging COVID-19 pandemic has forced consumers to tighten their purse strings, dimming the sales outlook for premium vehicles such as the ones sold by the company.

The company also had to halt production at its Fremont, California facility due to the lockdown enforced by Alameda County.

Operations at Tesla's Shanghai Gigafactory were halted briefly in May due to a shortage of components. The Shanghai outlet began normal operations just ahead of the second quarter following COVID-19 disruptions for much of January and February.

Early data points suggest weak sales performance across the U.S.

Tesla new car registrations for the April-May period fell 33% to 14,15 units in 24 markets that accounted for about 65% of the automaker's U.S. market, according to Dominion Enterprises' Cross-Sell report.

From around 550,000 deliveries estimated for 2020 ahead of the pandemic, Street estimates have come down to around 400,000 units.

At last check, Tesla shares were advancing 1.35% to $1,007.74.

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Tesla Bear Gordon Johnson Says Production Cutback Imminent At Giga Shanghai

Elon Musk photo by NASA via Wikimedia

 

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