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Tesla Model 3 prospects in focus in earnings report

Share this article - The sales prospects of (NASDAQ:{13994|Tesla's}) Model 3 electric car will be eyed in its second-quarter earnings report. On Wednesday Tesla (NASDAQ:TSLA) (NASDAQ:{13994|TSLA}) is forecast to report a loss per share of $1.80 on revenues of $2.54 billion.At the launch of the Model 3 on Friday Tesla CEO Elon Musk said there were over half a million advance reservations for the vehicle. The new model is priced at $35,000 and has range of 220 miles on a single charge. A version of the vehicle with a range of 310 miles is priced at $44,000. Musk said it would be 'quite a challenge' to manufacture the car in the early days of production. 'We're going to go through at least six months of manufacturing hell', Musk told reporters. Investors will be looking to updated guidance on production levels. In its first quarter report Tesla said it expects to be producing 5,000 vehicles a week this year. A successful launch could generate sufficient revenues to avoid burning more cash.

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