[kire2345]

I agree that the growth is likely to slow down somewhat in 2019. On a years view they produced about 253.000 cars in 2018 and will likely land at 360.000 in 2019. Nevertheless it is still 30% Growth YoY.

I would argue that slow down is mainly due to the nature of the production ramp, which goes exponential in the beginning but is now starting to flatten out. As it flattens though margins should continue to get better. If they get additional factories like the one in China it should reinvigorate the growth rate.

For me the bull story goes something like: they sunk a lot of money building out their very first mass producing production line, making a lot of mistakes on the way. Although they have some quality and service and margin issues people still keep buying their cars, which is the most important. Fixing the margin and other secondary issues is just a matter of time and continuous optimization.

So the most important of Musks hypotheses that people like buying electric cars if they are better in every important category is pretty much proven by now.

The second, that they are able to produce them at a profit is still to be proven, but economies of scale play a big role in that and they are first beginning to really leverage those.