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Tesla Forecasts Ease Sting as Quarterly Loss Trails Estimate

  • Loss was $1.06-share on added engineering costs for Model 3
  • Musk says demand on pace for 50,000 sales in second half

Tesla Motors Inc. reassured investors it can ship roughly 50,000 cars in this year’s second half and 500,000 in 2018, easing the sting of a second-quarter loss that was wider than analysts estimated.

The loss, excluding some items, was $1.06 a share, the company said in a letter to investors posted on its website Wednesday. The average estimate in a Bloomberg survey of 17 analysts was for a loss of 60 cents a share. The stock fell less than 1 percent in aftermarket trading to $225.60.

Investors were comforted by Chief Executive Officer Elon Musk’s confidence that the company will hit its sales targets and that the...