Analysts ignore Musk's lockdown rant to praise Tesla results

Analysts ignore Musk's lockdown rant to praise Tesla results

Analysts ignore Musk's lockdown rant to praise Tesla results

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For those unaware, Tesla's Autopilot service allows the vehicle to initiate lane keeping functions, while Full Self-Driving does that and more, including autonomous parking and a summon feature that brings the auto to you.

The first-quarter net profit was the first in its history for the seasonally weak quarter. COVID-19 has, undoubtedly, made it even tougher.

Excluding items, Tesla posted a profit of $1.24 per share.

According to Fortune, "Wall Street analysts could hardly have gotten it more wrong". This marks the third consecutive quarter of Tesla outperforming analyst predictions.

Tesla on Wednesday said it expected production at its vehicle factories in Fremont, California and in Shanghai, China to ramp up gradually through the second quarter. Tesla said its new "simplified and scalable" approach to manufacturing is beginning to take effect with the new Model Y crossover.

Zuckerberg said: 'I worry that reopening certain places too quickly before infection rates have been reduced to very minimal levels will nearly guarantee future outbreaks and worse longer-term health and economic outcomes'.

Tesla reported stronger-than-expected first quarter global sales.

Tesla also reported strong production numbers at its factories in the US and China, The company built 102,672 vehicles in the quarter, even after its Fremont, California factory was forced to suspend operations in March during the coronavirus pandemic.

Nevertheless, tough times are looming with COVID-19.

On the biggest disruptions to Tesla has been the government-ordered shutdown of its factory in Fremont, California, which sits idle since March 24 with stay-at-home orders running until at least May 31.

Elon Musk has confirmed that Tesla's Full Self-Driving service will be available by monthly subscription later this year.

Musk, 48, later spat, "The expansion of the shelter-in-place - or as frankly I would call it, forcibly imprisoning people in their homes, against all their constitutional rights, but that's my opinion, and breaking people's freedoms in ways that are awful and wrong, and not why people came to America or built this country". "It's like somebody should be, if somebody wants to stay in the house, that's great".

Musk, who has often made outspoken and even inflammatory comments on conference calls and on Twitter, said in comments to analysts on Tesla Inc's earnings call that it was "fascist" to say people can not leave their homes.

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