Musk touting Tesla with over 650km range in the near future

Tesla is serious about a possible record quarter, not so serious about a submarine car

Tesla Inc has "a decent shot at a record quarter on every level", Chief Executive Officer Elon Musk said at the company's annual shareholder meeting on Tuesday, soothing concerns about weak demand for the electric vehicle maker's sedans.

Among the anecdotes revealed during Musk's speech or in response to questions from investors, we heard that Tesla plans for the Model Y crossover to be "vegan" and free of animal products like leather, even though making a heated steering wheel without it has been tough.

"There is not a demand problem".

Musk also hinted that the company has a design for what he called a "submarine vehicle", which he believes would attract a small, yet enthusiastic, market.

"We're actually doing well and we've got a decent shot at a record quarter on every level".

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To do that, it will have to beat the $US312 million ($A448 million) profit Tesla reported for the third quarter of 2018, which was the company's first profitable quarter ever reported and notably included a 20% margin on its Model 3 alone.

Tesla's current quarterly records came during the final three months of previous year when it manufactured more than 85,500 vehicles and delivered 90,700.

The company enjoyed two consecutive quarters of profitability at the end of last year but returned to a deficit in the first quarter of this year, losing $702m.

He noted that Tesla's sales target struggles are not due to a lack of demand, claiming that 90% of sales are going to customers who haven't reserved a vehicle.

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