Tesla Inc (TSLA) Model 3 About To Face Stiff Competition From BMW

NASDAQ: TSLA | Tesla, Inc. News, Ratings, and Charts

TSLA – Rival BMW is reportedly planning an all-electric 3 Series car to compete with Tesla’s upcoming Model 3.

The long-term fate of Tesla Inc (NASDAQ:TSLA) largely rests on the success of its upcoming Model 3 car, which will be its first truly affordable mass market offering.

Its prospects for success may have just gotten a little dimmer, however, with German luxury carmaker BMW reportedly planning an all-electric 3 Series car of its own. Electrek has some details on the development:

An electric BMW 3 Series has long been rumored and it would make sense to bridge the gap, but it never officially appeared in the company’s plan, while they were not shy about confirming plans for an all-electric BMW X3.

Now German newspaper Handelsblatt reports citing company sources that an electric BMW 3 Series is planned and should be unveiled as soon as in September at the IAA auto show in Frankfurt.

If the rumors are true, Frankfurt could be an interesting show for electric vehicles since Honda, Jaguar, Mercedes-Benz and Volvo are all also rumored to unveil EVs at the event.

Depending on production and delivery schedules, BMW could conceivable beat Tesla’s Model 3 to market — at least in terms of actual deliveries to customers. Many would-be Tesla users will have to wait years to receive their Model 3s, even if they plunked down a $1,000 deposit on the very first day. Many even risk missing out on the key $7,500 EV tax break as a result.

The pressure is mounting for Tesla to live up to its production goals. Unlike its more established auto rivals, Tesla is starting from scratch with its assembly lines, with no experience in producing cars at a mass scale.

The company delivered just 25,000 vehicles in the first quarter. It’ll need to do much better than that very soon, before it loses its early mover advantage and its competitors flood the market with new high-end EVs of their own.

Tesla Inc shares rose $0.95 (+0.26%) in premarket trading Thursday. Year-to-date, TSLA has gained 73.73%, versus a 9.94% rise in the benchmark S&P 500 index during the same period.

TSLA currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #1 of 24 stocks in the Auto & Vehicle Manufacturers category.

TSLA at a Glance

TSLA Current POWR Rating™
Overall POWR Rating™
TSLA Current Price $371.57 1.39%
More TSLA Ratings, Data, and News

TSLA Price Reaction

The day of this event (Jun. 29, 2017)
TSLA Closing Price$360.75 2.83%
TSLA Volume8,221,000
62.95% from avg
Leading up to this event
TSLA 1-mo returnN/A%
After this event
TSLA 1-day return2.66%
TSLA 3-day return13.50%
TSLA 5-day return18.52%

TSLA Price Chart

The Top Stocks For 2019

More Tesla, Inc. (TSLA) News View All

Event/Date Symbol News Detail Start Price End Price Change POWR Rating
Loading, please wait...
View All TSLA News
Page generated in 1.1276 seconds.