Wednesday, November 4, 2015

Elon Musk: In 20 Years, Non-Autonomous Cars "Will Be Like Owning a Horse"

During regular trade the stock closed up 11.17% at $231.63. Off a couple ticks in early after hours action.
From Road & Track:

On a quarterly earnings call, Musk—who once owned a McLaren F1—predicted that self-driving cars will become ubiquitous within two decades.
This evening saw the quarterly earnings call for Tesla shareholders (and, of course, journalists, analysts, and hangers-on). Financially, it was not very good news—although the third quarter shareholder letter highlighted record vehicle production and deliveries, Q3 losses tallied $230 million, with vehicle production outpacing deliveries.

But when a journalist on the conference call asked Musk about his outlook on autonomous cars, he was characteristically bullish.

"I'm on record saying that all cars will go fully autonomous in the long term," Musk said. "I think it will be quite unusual to see cars that don't have full autonomy, let's say, in new car production, in the 15 to 20-year timeframe. And for Tesla it'll be a lot sooner than that."

Musk went on. "I think at the point at which cars are being made that have full autonomy, any cars that are being made that don't have full autonomy will have negative value," he said. "It'll be like owning a horse. You're really owning it for sentimental reasons."...MORE
Tesla Pops $15 On Earnings Miss (TSLA)
UPDATED--Earnings: "Tesla Motors: Stifel Sees Shares Falling After-Hours" (TSLA)