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00:00:00
>> One is this->> After months of turmoil involving the Twitter antics of Tesla's CEO Elon Musk, resulting in him stepping down as chairman in a settlement with the SEC, the electric carmaker is trying to get back down to business. Tesla announcing Tuesday that it delivered a record 83,500 new cars during the third quarter, which was better than expected.
00:00:22
The electric carmaker is making progress in emerging from the self-described production hell that has dogged the company in recent months, churning out more vehicles in the quarter before. Especially when it comes to the mass-market Model 3s that are key to the company's future. Reuters correspondent Alexandria Sage.>> This is a huge incremental jump for Tesla, and it certainly shows that they've made a lot of strides in producing and delivering this Model 3 sedan to customers.
00:00:54
However, it still does not address underlying concerns around Tesla. Tesla did not reiterate a statement that it has made in recent months that it would be profitable and cash-flow positive in both the third and fourth quarters. A lot of analysts noted the lack of the statement in today's release and wonders what that portends for results when they're announced next month.
00:01:23
>> That lack of clarity may be tied to headwinds coming from worsening US-China trade relations. Tesla warned that a 40% tariff on the vehicles it sends to China was blocking sales in what has become the world's biggest electric car market. In order to get around that, Tesla says it is speeding up construction of a Shanghai Gigafactory to combat what it called the huge disadvantage it faces when compared to carmakers from other countries.
00:01:51
That wasn't enough to soothe investors' concern, they pushed the stock lower.