caroline: coming up, analysts was concern about the tesla model s and model x cars. s tesla have to say about the model 3? we talk to the man who wrote the book on elon. this is bloomberg. ♪ caroline: tesla stock fell back this week. analysts have growing concerns of the company reported deliveries flatlining in the second quarter. goldman sachs issued notes saying the demand for the company's higher-priced model s sedan and model x might hit a plateau. we started off by asking ashlee vance how important the company's upcoming model 3 will be for investors. ashlee: we can look at the s and x sales, but the model 3 is this make or break product for tesla. over the weekend we heard from elon they will ship about 30 model 3's this month. the good news is the car is arriving much earlier than tesla products tend to arrive. it is almost on-time. the bad news, of course, they are talking about hand making 30 cars and this is definitely not mass production like we're used to seeing from other automakers. but over the next year to two ears it is how the model 3 sells that wil

just as tesla's model-3 prepares to hit the road, a speed bump for the electric car giant. ile tesla's sales shifted down a gear. first, a massive deal in the digital payments ace -- payment space. this comes after j.p. morgan showed interest, but ultimately backed away from the takeover offer. they hope to gain greater exposure to e-commerce retailers and small businesses through the acquisition. for more, we are joined by bloomberg's editor at large, cory johnson. with me for the hour as guest host is martin mignot. now, i want to kick off with cory first. give us the background of this deal. big exposure to e-commerce, bigger exposure to small business. cory: why is it based out of cincinnati for a global payments business? it is a spinoff from fifth third bank, which tells you the history of this business of payment transactions. with the way this business works, when you go into a store and you use your credit card, the credit -- they find out if you have the money in your account and come back and approve the credit or not, but there are a number of steps that happen b

tesla model three is rolling off the assembly line.hose stories are ahead in business. >> a young man is bruised without any warning by a bear. you'll hear that coming up next. ♪ this summer in a place where flavor runs deep, any dish and every glass might be the best you've ever tasted as long as you don't forget your appetite. new york state. it's all here. it's only here. plan your trip to the finger lakes at iloveny.com ♪ [brother] any last words? [boy] karma, danny... ...karma! [vo] progress is seizing the moment. your summer moment awaits you, now that the summer of audi sales event is here. audi will cover your first month's lease payment on select models during the summer of audi sales event. >> reporter: looking live, what a beautiful shot that is, a few clouds passing in front of the moon, a little spooky and gorgeous, as we admire the shots we've had lately of the moon. let's check the roads for you, looking good on monday morning, i-95 at cottman, southbound traffic heading toward center city moving just fine, no delays, no

3 much cheaper than tesla's previous models. c business correspondent jolene kent is at the tesla factory in fremont, california. hi, good morning. >> reporter: guys, good morning. this is it. the much-anticipated tesla model 3. we got to take it for a test drive fresh off of the factory lines. it's got a pretty good zip to it, and it's also elon musk's biggest gamble yet. at last, after more than a year of hype and anticipation, the wait is over. tesla's model 3 electric sedan is here. >> let's head over to some cars. the first production cars -- >> reporter: 30 tesla employees got the first vehicles that start at $35,000 for the basic model. they'll drive up to 220 miles after just one charge. the higher end, $44,000 edition, will go up to 310 miles per charge. >> and be about roughly five seconds, zero to 60, 1 140-mile-an-hour top speed. >> reporter: elon musk 11 years ago declared he wanted to build a sports car and used that income to build an affordable car. >> the tesla model 3 has the potential to be as game-changing as

there are officially 30 new tesla model three cars on the road. lucky drivers are all employees of the company. the car starts at $35,000 which is half the cost of tesla's previous model. tesla says they already have about 500,000 people worldwide who have paid a thousand dollars just to reserve a car. >>> and this pile of melted rubble used to be a ferrari one hour after buying this vehicle in south yorkshire the unidentified driver lost control causing the car to go airborne and roll over in a field. the driver who was nearby walked away with only minor bruises and cuts. no other vehicles was involved in this crash. >>> the parents of charlie gard are speaking out about the death of their little boy who died from a rare condition. his case raised ethical and legal questions. back in march doctors treated charlie in london. they argued that he could be cured and should be taken off life support;, he couldn't be insured that is but his pants parents warranted to take the baby to the u.s. for treatment. charlie was taken off life support. >> our son

the tesla model s got the highest good rating for four of five crash worthiness tests but received ancceptable rating for what's called an overlap front crash test. tesla says, quote, the iihs and dozens of other private industry groups around the world have methods that suit their own subjective purposes. three vehicles did earn the top pick safety ratings lincoln continental mercedes-benz e class and toyota avalon. >>> happening today the highly anticipated tesla model 3 set to come out. delivery number for its model s and x cars is the second quarter were down. it's a big test for the carmaker moving into mass production. >>> stay with us. "news4 today" continues at 5:00 a.m. >>> "news4 today" starts now. a foggy start in some areas. take a look at this live picture here in the district. waking up to low visibility for a second day in a row. good morning, everybody. i'm aaron gilchrist. >> i'm erika gonzalez in for eun yang. it's not just the fog that people are dealing with this morning. >> if your drive into work includes interstate 66 or 95 you might need the wipers too. >> tarp

elon musk revealing first look at the tesla model 3 tweeting a photo of the four door sedan over the. production of the $35,000 car began last week. first deliveries expected later this month this is going to be the challenge. >> i think it looks splashy. >> this is a significantly lower price. theoretically should have the same tesla technology, it is electric. >> just not high performance. >> volvo is going electric last week didn't help the mood around tesla. shares at one point are lower in market value than general motors >> we have to see, if they can nail production of this model. >> that would be a big deal. >>> alec baldwin getting buzz off tv, his former "snl" co-star and former president bill clinton took to the stage at new york apollo theater. >> this is supposed to be a surprise for alec. it is certainly a thrill for me. maybe not so much for him. i mean, tonight he is stuck with a boring former president, trapped in the reality based world. i wouldn't know an alternative fact if it hit me in the face. >> bill clinton was always a good performer. >> so is alec baldwin,

elon musk watch the tesla model three.00, elon musk watch the tesla model three. with a price tag of $35,000, it is supposed to be more affordable than tesla's previous efforts to cost up to 100 grand. faraday future has scrapped its plans to build a billion—dollar factory in the us state of nevada. this is google‘s deep mined artificial intelligence attending to learn how to walk. so far the research is being conducted in virtual environments but could one day help robots learn how to make of it in complex or unfamiliar spaces. and finally a former nasa scientist build a super—sized super soaker which can fire a jet of water at 272 mph. but it's so big, at least you will see him coming. it says beds. it says — fashion, style, outfit, that's you. sometimes it's not that easy to put into words what you want to search for online, and that's why companies are working on ways of us being able to take a simple picture and then search using that image. pinterest is a place all about images and ideas, they've had a form of visual

why such a high demand. >> reporter: tesla's model 1 demand starts $70,000 and the model 1 is about the half not including a $7,500 car credit. the sedan will get 1,500 miles per charge. it will go from 0 to 60 in under six seconds. >> it's a henry ford vision, mass produced automobile with an electric twist to it. >> reporter: reservations for model 3s are being taken online, but did i talk to a tesla employee who told me if you make that reservation now you likely won't get that delivered delived couple years. >> thanks, matt. after a cloudy start, the sun starting to come out. of a live look outside from our camera on the top of mt. tam there. you can see a layer still and meteorologist mike nicco is here with a look at the pre-fourth of july forecast. >> can't call it clear just yet. starting to get sunny, especially inland and most of the bay. parts of the beaches where i know you want to flock to those. look at how cloudy it is in santa cruz. thought we'd start there. mainly gray and cool with santa cruz at 66, one of the warm spots, places like half moon bay. places like 56 degre

here is a basic guide to tell the tesla models apart. new model 3 is the smallest and starts at $35,000. the model s is the original sedan, starting at $69,500. and the model x crossover seats seven and will set you back at least $82,500. >>> wells fargo struggling to overcome last year's fake account scandal says it is cutting 70 senior executive jobs. that's according to a memo obtain by bloomberg today. wells fargo is now facing a second customer account scandal. the bank has admitted that it signed up thousands of its customers for auto insurance that they didn't need. wells fargo says it noticed the problem last year but was waiting for the right time to tell customers. >> all right. much more ahead on "abc 7 news at 11:00." it may seem obvious, but a warning for residents in one east bay community. stay away from bats. >>> also a company that producing life-saving drugs is revealing the night a cyberattack impacted its production. >> i'm spencer christian. it is a little cooler outside tonight than at this hour last night. what does

but, really, over the next year, two years, it's how the model-3 sells that will define tesla. company, the only way to share price makes any sense right now is if the model-3 -- the only way the share price makes any sense right now is if the model-3 does well. caroline: the selloff we saw today -- that seems to be digesting those numbers we got late monday, prior to the u.s. holiday, coming from model s, model x sales, and they did seem to disappoint. is there an issue that potentially there is a plateau going on? ashlee: a little bit. tesla seems to blame the lackluster sales on trouble getting a battery pack. that has been concern been haunting the company forever. how many rich people are there that can buy a car that really starts at about $100,000 after you start a clipping it with a few things -- start equipping it with a few things? i've been amazed to see how many are out there in silicon valley. there's more wealthy people here than i ever imagined. the same in los angeles. you wonder how this plays out globally. maybe, finally, that car is starting to stall a little

elon musk says by the end of the year, tesla will be producing you 20,000 model threes a month. the price, $35,000, much less than tesla's other two models. >>> in a few hours, it's time for the big main event. >> yesterday was the big weigh-in for the nathan's hot dog eating contest. defending champs, chestnut and sudo were back. >> but in the nation's capital, it was all about the burgers, four contestants lined um fp fo the burger-eating championship. molly shower devoured the competition. the mother of four down to 21 burgers in just ten minutes. >> i don't like this. i find it unsettling. >> how many burgers do you think you could eat in 21 minutes? but i think it's unsettling. >> okay. sounds a little scared. i think we need to have our own little burger battle. >> my favorite joey chestnut thing, he has won, he wins almost every year. the year that he lost, 2015, was the year that he broke up with his fiance. that threw him off. >> see, heartbreak! heartbreak, you can't eat a thousand hot dogs when you have a broken heart. >> i thought you'd be eating more as like comfort.

. >>> on the cbs "money watch," possible insight into the fed's balance sheet and tesla's model 3 hitse have more from the new york stock exchange from roxana saberi on that and more. good morning, roxana. >> reporter: good morning, anne-marie. u.s. stock markets return to business today following yesterday's holiday. traders will be watching for the minutes from the federal reserve's latest meeting due out later today. >>> on monday, the dow gained 129 points. the s&p added five points. the nasdaq lost 30. >>> when the minutes of the june fed meeting are released, investors will be watching closely for clues about the fed's balance sheet. the fed reportedly plans to reduce its assets, and that could lead to higher interest rates. the question is when. >>> samsung is expected to report its best-ever quarterly profit later this month. and with soaring memory chip sales, the south korean tech giant would move past intel as the largest semiconductor maker by revenue. samsung's second-quarter operating profit is expected to jump 67% from a year earlier. the news comes despite samsung's cos

tesla employees and vips. the other 20 will be used for engineering validation. the model 3 is tesla's first mass market electric car, and the cheapest tesla to date with a starting price of $35,000. the range? 215 miles on a charge. it goes 0 to 60 in six seconds, and comes fully equipped with cameras and sensors for self- driving, though the auto pilot activation costs more. >> and you can preorder a model 3 today, but you may have to wait until the end of 2018 to actually get the car. >>> and coming up, a woman attacked by her own pet snake. her desperate 911 call with a boa coiled around her face. >>> and the police vehicle that could be harming officers. the concerns over carbon monoxide leaks. >> and the forecast coming up in a minute. changes are on the way, you may or may not like them. care act... admit it still needs some work >>> health care concerns. bay area protesters fighting to keep the affordable care act admit it still needs some work as congress continues to sort through the health care controversy. jackie ward shows us people all over the bay area are r

here is a basic guide to tell the tesla models apart. new model 3 is the smallest and starts at $35,000. the model s is the original sedan, starting at $69,500. and the model x crossover seats seven and will set you back at least $82,500. >>> wells fargo struggling to overcome last year's fake account scandal says it is cutting 70 senior executive jobs. that's according to a memo obtain by bloomberg today. wells fargo is now facing a second customer account scandal. the bank has admitted that it signed up thousands of its customers for auto insurance that they didn't need. wells fargo says it noticed the problem last year but was waiting for the right time to tell customers. >> all right. much more ahead on "abc 7 news at 11:00." it may seem obvious, but a warning for residents in one east bay community. stay away from bats. >>> also a company that producing life-saving drugs is revealing the night a cyberattack impacted its production. >> i'm spencer christian. it is a little cooler outside tonight than at this hour last night. what does

but over the next year to two years it is how the model 3 cells that will define tesla. re an investor, the only way the share price makes any sense is if the model 3 does well. caroline: when looking at the slight selloff we saw today in tesla share price, that seems to also be digesting those numbers we got late monday, prior to the u.s. holiday. coming from model s and x sales. they did seem to disappoint. is there an issue that potentially that there is a plateau going on here? ashlee: tesla seemed to blame some of the lackluster sales on trouble getting a battery pack into production. this has been a concern that is haunting the company forever. how many rich people are there that can buy a car that starts at about $100,000 after you start equipping it with a few things? you look around silicon valley where i live, i'm amazed to see how many are out there. there are more wealthy people here than i ever imagined. the same in los angeles. you wonder how this plays out globally. maybe, finally, it is starting to stall a little bit. that is where they made much higher ma

dana: the model three was teslas main reason for being. ted to bring an affordable electric car to the main stream. this is the reason for the company's being. it is critical. model three is make or break. they have to be able to sell cars. they have to be able to make cars and sell cars at high volumes. caroline: we will see if they can live up to the high volumes and indeed to those profits. thank you. brilliant reporting as ever. eileen is sticking with us in london. coming up, amazon's deal to acquire whole foods is shaking up the grocery market. what sector will the tech giant disrupt next? this is bloomberg. ♪ whoooo. you're searching for something. like the perfect deal... ...on the perfect hotel. so wouldn't it be perfect if there was a single site where you could find the right hotel for you at the best price? there is. because tripadvisor now compares prices from over 200 booking sites... ...to save you up to 30%... ...on the hotel you want. trust this bird's words. tripadvisor. the latest reviews. the lowest prices. >> these of t

tesla began delivering the model 3 to select owners on friday. >>> dead heads will soon have a chance one of the founder members of their band. bob weir owned this dolphin gray 2014 tesla. an auction house says it's in pristine condition. bidding starts at $100,000. the money raised will go to two environmental nonprofits. they include the leonardo dicaprio foundation. very nice. >> okay. let's take a look at the weather. of course, the last day of july, and summer is definitely here. >> yeah, it's going to feel like it, especially away from the coast. we're going to have a huge summer spray. hi, everybody. about 30, 35 degrees. sunshine as we look northbound on 101 in san rafael. afternoon sunshine and warming begins. hottest highs tomorrow and wednesday, and more comfort this weekend instead of the heat building towards the weekend, this time, it's going to decrescendo towards the weekend. here's a look at the cloud cover. through about 8:30, a deep penetration and then quickly by about 11:00, 11:30, back to the coast. a little stubborn along the coast. pockets of sunshine here and

elon musk launched the new all electric tesla model three.t is supposed to be more affordable than their previous effort which cost 200 grand. rival automobile company has scrapped its plans to build a billion—dollarfactory scrapped its plans to build a billion—dollar factory in the us state of nevada. this leaves a big question mark over than launch next year of the new model. no, this is not a digital version of the ministry of silly walks but this is google ‘s deep mined attempting to learn how to walk. the research has been conducted in virtual environments that one day it should help robots learn how to navigate complex spaces. and, finally, a former nasa scientist to build a super soaker, giant sized. former nasa scientist to build a supersoaker, giant sized. it former nasa scientist to build a super soaker, giant sized. it is so big you will at least see him coming. almost everyone in the world who works pays tax on the money they earn, but at this restaurant in san francisco there are no waiting staff and robots plate the food. that w

the derailment and cars were running at limited speeds. >>> new information about the release of tesla's modelhree. the car passed all the requirements. the company plans to produce 100 versions of the model three and another 20,000 in december. preorders opened a year ago. and there's already a backlog. not surprising, right? get your order? >> got my down payment right here -- not. [ laughter ] >> a year's salary. >> i like the suv version. >> they're all cute. >> out of my price range. >> i'll stick with a toyota. >>> we have some serious traffic news right now. and this is just a reminder of how bad things can get on a holiday weekend. and today is no exception. we have a deadly crash that has shut down all of westbound 80 lanes at el portal in san pablo. and they can take it to san pablo dam road or richmond parkway. we're seeing sensors on richmond parkway. the traffic is backed up to hill top at this point. you'll need to give yourself extra time as you make your way along westbound 80 on the east shore freeway. chp has issued a sig-alert. and they have not given us a time. you can fact

amanda, whose twitter hand is @tesla model 3 fan is one of several customers on the waiting list. f the first ones and i can't wait to get it. >> reporter: until now, teslas were luxury cars reserved for the wealthy, some with six-figure price tags but with the model 3, the company hopes to bring electric vehicles to the masses, a car that can travel 215 miles on a single charge. >> this is really important for the future of the world. we have record high co2 levels. >> reporter: it's latest way musk is trying to transform transportation from spacex, which hopes to send humans to other planets, to hyperloop, which aims to move earthlings around even faster. he's even exploring whether tunnels can be a solution to l.a. traffic. now comes the model 3. amanda doesn't know when she'll get hers but the mere news of its arrival is giving her a charge. nbc news los angeles. >> i'll have to take a second look at that tesla. >> apparently you can get a tax credit for getting an electric car too. we'll se >> okay. mo's interest. >>> some road work in northern virginia could get a little nois

. >>> the new tesla model three is being called more affordable.hey are beefing up their repair crews as well to service the new cars, we are breaking it all down next >> we have more coming up on ktvu news right after the break food. water. internet. we need it to live. but what we don't need are surprises, like extra monthly fees. i see you, fee, played by legendary actress anjelica huston. you got me, mark. we just want fast internet for one, simple rate. for all the streaming and the shopping and the newsing, but most of all... for the this. internet for one everyday simple price and no extra monthly fees. you know what i could go for righhmmmw? some sweet barbeque. (over speaker) - or spicy! we got a craving! go go go!!! crashing cravings in the crave van. jack's gonna crash your crave! here, try my barbeque bacon cheeseburger with your choice of sweet or spicy barbeque sauce topped with bacon and onion rings. thanks jack. ha ha! piece of cake. oh, jack! you crave it, we serve it. my new sweet or spicy barbeque bacon cheeseburger and chicken s

everything we possibly can to get you the car as soon as possible. >> right now, the model 3 is pretty much everything to tesla car they have to get right to ensure that their business continues. >> reporter: the model 3 costs around $35,000 with an all-electric range of more than 200 miles. tesla's previous models start at nearly $70,000. has there even been a car salesman like elon musk? >> elon musk i think is beyond a car salesman. he's more like a hero for a lot of folks and i think the opportunity to buy a car from his company, being part of his movement is attractive to a lot of people. >> reporter: so attractive that since the model 3 was unveiled in march last year, more than 400,000 people have put down $1,000 each to get on the waiting list to buy one. to satisfy all those orders, musk says tesla will build 500,000 cars a year by the end of 2018. but in all of 2016, tesla built fewer than 90,000 cars. >> some of the production targets are pretty ambitious. you know, people have doubted tesla before, but the fact that they are, you know, rolling cars off that people are going to drive, you know, says

inside this tesla model is in thai german.sed automated driving car developed by bosch. the blue parties where we are driving automated and while you're doing that, could connect with your smart fridge at home. a motorcycle just told us it was coming from the left. the red and white dots others laser points. —— aviles appoints. the cartels now can activate the system. i pushed the two buttons. voiceover the car is now control i'iow. voiceover the car is now control now. the card now turned to orange. —— the road now turns. now. the card now turned to orange. -- the road now turns. thanks very much. the german government has approved the law to allow safe driving cars on regular roads but the question now is whether it german manufacturers can beat their american competitors and bosch is pinning its hopes on its relationship with mercedes. it's not just the technology but the question of the legals and insurances to come in the market. it's notjust about regulation, germans may still need some convincing to embrace automation o

he left the first model vehicle to even on musk as a birthday gift. the tesla is set to host a party for the owners of the first 30 model free cars. structs" is cutting about 40% of its work % cutting -- closing its office in san francisco. bloomberg reports that the cuts will help them on a path to profitability. sound cloud offers mostly free content. it is a service launched last year. has not raised as much revenue as hoped.>>> a new p on real estate transactions to help generate hundreds of millions of dollars. david and a $75 fee on to document suggest you the notices with a cap of $25 per transaction. it is expected to generate between 200 and $300 million per year for low-income housing in the state. republicans oppose the measure saying it will just hurt middle- class homebuyers it was passed by the state senate just last week.>>> a company looking to build new housing in the south bay is one step closer to approval. they wanted to build a complex across the street from the former stadium. a former landfill site would need a lot of work to block the wa

tesla announcing it's rolling out the model 3 earlier than expected we have details on that.ake another look at the premarket. nasdaq coming off the worst week of the year but the best first 'rba ia nu '09 wee ckn mite >>> it was declined to 5.5%. retail sales in line with expectation. as for toyota an increase in sales last month of 2.1% expecting an increase of 0.1% so ford and toyota reporting a little bit better than expected. we'll get the gm numbers in about 15 minutes and don't forget later on today we'll find out what the sales pace is most believe it will be about 60.8 million vehicles with these first two coming in better than expected we could get back to that 17 million mark though. most believe 16.8. >> elon musk tweeted out the first model will be produced on friday when they ramp up producti production the first 30 molds will be at the end of the month on the 28th and then gradually increase production through the end of the year with the production rate hitting 20,000 for the month of december. that's production rate doesn't mean they're going to crank out 20,

. >>> development surrounding tesla's model 3. distribution could start this month. >>> things are looking much better. the significant problem, the fatal crash all morning in san pablo. all lanes are back open. all lanes are back open. 24, 45, miles an hou where a walk down main street... there's a place like no other... where a walk down main street... blah blah blah .. hey! the name's rocket and i need your help! the collector has trapped my friends, the guardians of the galaxy in this weird...freakshow... check it out...this is the joint we're in... and we need you to help us break out! got it?...good...now move it!...i gotta go! ...here there is magic for days! >>> just shy of 6:30. a deadly crash that shut down interstate 80 in san pablo this morning has cleared. now there is a new problem. >> straight to tiffany wilson live on i-80 with the details. >> reporter: good morning, natasha and reggie. we are back on i-80 exactly where we had the live shot at 6:00 this morning. stuck in traffic again. just about ten minutes after

the model sedan is here tesla employees got the first vehicle to start at $35,000 for the basic modelshigher end, $44,000 edition, will go up to 310 miles per charge. >> and be about roughly five seconds, zero to 60, 1 140-mile-an-hour top speed. >> reporter: elon musk 11 years ago declared he wanted to build a sports car and used that income to build an affordable car. >> the tesla model 3 has the potential to be as game-changing as the introduction of the iphone. >> reporter: musk wants the price point to appeal to the masses on. average, americans spend $34,000 on a vehicle. the model 3 is entering a competitive field of electric vehicles. musk promising to produce an ambitious 500,000 cars next year. >> it's a huge number of cars for a startup company. they've got to figure out how to keep quality up. >> reporter: the inside of the model 3 does feel different than mode e most sedans. there's nothing on the dash. it's all controlled by this tablet. tesla says this will allow them to control the car and eventually make it autonomous as in it will drive itself. >> quite controversial.

here is what's coming up on the show the official party for tesla model 3 is hours away. investors may not want to celebrate too soon did this week's tech wreck make you nervous of apple earnings? don't be we have a way to buy protection. dan will break it down >> later crude oil just made a run to $50. there is something in the chart that can spell trouble for black gold we'll tell you what it is. the action begins now. >> welcome back everybody, it has been a wild couple of days for technology nasdaq posing its back-to-back losses after earning its alphabet google. the biggest name in space, the biggest name in the world reports that's apple two request, what can we expect from apple and should investor be bulished? >> dan >> over the last week and a half, it makes sense to go back and look at the biggest name drive. we had amazon and facebook and google and microsoft, that's about $2.3 trillion on market cap. a 4% move in either direction of those. they under performed those moves. these are stocks that are up 30% or 40% i think that's incentiv structie you can assume

but, first, tesla model 3s will be delivered today. the $35,000 all electric car is tesla's attempt to enter the mass market. >>> let's check out your five-hour day planner. the clouds arriving through 5:00 and back at the coast at noon. temperatures near 60 at the coast and around 80 near the bay and those 90s sticking inland. >> a friday light commute. here's a live look at golden gate commute. foggy but no major delays anywhere. metering light flipped on 15 minutes ago. >>> number seven, the annual gilroy garlic festival kicks off today. more than 100,000 people expected over the three-day event. >> so fun. we're looking at the flames that singed off matt keller's eyebrows. you said it on twitter that it did happen. >> i was kind of worried about that. >> chef keller. sorry. >> there's a live look. i also brought some altoids i'm passing around right now. >> enjoy. enjoy the festival. things are heating up on the wta time to play when the us open series hits stanford... for the bank of the west classic, join the celebration of summer

model. the cost is low. the technology is there. we decide this is good to buy. >> teslatives declined our interview requests and referenced tweets by elan musk. hand over party for customers. production grows exponential. august, 100, september, 1500. it looks like we can reach 20,000 model three cars per month in december. his optimism comes amide troubling news for the electric auto maker. tesla slipped to number three in ranking for autonomous vehicles behind ford and gm. those two car companies and others are investing heavily in self driving vehicle technology that will rival tesla. add to this the steepest tesla weekly stock drop since 2016 due to flat quarterly sales and questions about the company's ability to meet production demands. >> it goes up and goes down and you know, with the luxury that comes with tesla too, i do appreciate that in the vehicle. you know, you're going to pay this much for a car. you might as well get one that's nice inside. >> the ranking didn't matter to you. >> no, i don't think so. >> what doesn't matter to tesla loyalists or industry

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coming up, the rubber has it the road for tesla's new model 3. outlook for the offering and ambitious production plans, next. you can listen on the bloomberg radio app and in the u.s. on sirius xm. this is bloomberg. ♪ tesla is ramping up production of the model 3 after the first car rolled off the line last week. the automaker already has happened billion dollars in deposits for the $35,000 electric car. if tesla achieves elon musk's targets, it will build more battery-powered cars next year than all the carmakers combined in 2016. i spoke with caroline hyde out of london and started by asking about the outlook for tesla filling all the orders. take a listen. caroline: key question. half a billion means everyone pay $1000. car is do not about this the ramp up is enormous. carr, elon musk has his that rolled off this weekend. huge --edition is ambition is huge. they have to deliver 30 in july for a special party on july 28. they want to be hitting numbers such as $20,000 -- 20,000 cars by december. the amount of cars they want to make an 2018 will

tesla's model s starts around $70,000. the model 3 is about half the price starting at $35.a $7,500 federal electric car tax credit. a five-person sedan will be able to get 215 miles per charge and go from 0 to 60 in under 6 second. >> i think that's great. it's progress. it's mass produced automobile. it's the henry ford vision with an electric twist to it. >> reporter: reservations for model 3s are being taken online. i talked to a tesla employee here and he told me if you order now it's likely you won't get your car delivered for at least a year and a half to two years. in san jose, matt keller, abc 7 news. >>> and about an hour ago it tesla ceo elon musk said to thank all no took a risk on a new car company. we won't forget. >>> samsung is launching a new phone made from recalled galaxy note 7s. the refurbished, less expensive phone will be available in south korea later this week. it won't be sold in the u.s. the company is renaming it the fe short for fan edition. samsung was forced to recall galaxy note 7s after a number of devices exploded. the fe has lower capacity

you could now see the tesla model 3 out on bay area roads. how many people received their new cars last night. (justine) there are now 30 official owners of tesla's new model 3. the keys were handed at the tesla manufacturing plant in fremont last night. the model-3 is designed to be a more affordable option. it costs around 35-thousand dollars. c-e-o elon musk says more than half a million people pre-ordered model-3's. if all those reservations turn into actual orders... the sedan will quickly become one of the best-selling vehicles in the country. if you pre-order a model-3 now- you may have to wait until the end of 20-18 to receive the car. (jrstone) katie couric is leaving yahoo after four years as the online company's "global anchor." a representative for couric says she turned down an opportunity for a short-term contract extension. the former "today" show host and "c-b-s evening news" anchor joined the yahoo team in 20-13. her decision to leave the company follows the merger between yahoo and verizon earlier this year. 60-year-old couri

. >>> we're getting a first look alt the new battery powered tesla model 3.lon musk tweeted photos of the car over the weekend. the model 3 sedan will cost $35,000. tesla says it can travel 216 miles on a single charge. it already has orders for more than 370,000 cars. >>> and a big debut for "spider-man" homecoming. >> wait a minute. you guys aren't the real avengers. >> the latest movie in the "spider-man" franchise exceeded expectations pulling in $117 million in ticket sales its opening weekend. last week's top film "despicable me 3" finished second, and "baby driver" finished third. >> roxana saberi at the new york stock exchange. thank you so much, roxana. >>> ahead, amazon prime day kicks off tonight. dan ackerman of cnet shows us the deals including special deals on voice ordering on alexia devices. >>> and still to come, pumping iron. we will take you to a gym that helps disabled people get fit. i'll go for that too. eliquis. eliquis reduced the risk of stroke better than warfarin, plus had less major bleeding than warfarin. eliquis had both. don't s

to tesla, we are sticking with elon musk. modelannounced the three will begin production on friday passing requirements two weeks ahead of schedule. the beginning of the ramp up where tesla expect to make 500,000 vehicles in 2018 and one million in 2020 as it pushes into the mainstream. now joined by dana, a bloomberg news reporter who covers tesla. first of all, talk to us about this announcement. model threes were meant to be rolling off by july, is this sooner than we thought? dana: slightly sooner. what he said in the tweet last night was that the first vehicle should be rolling up their production line this friday. there will be a handover event on july 28 for the first 30 customers. that is good news for customers, investors, and the many fans have been eagerly awaiting details of what july would hold. caroline: i'm looking at the bloomberg chart. quite amazing how much we continue to see a ramp up in mac -- market apple is nation versus gm and ford who had their numbers out today for june sales. he $7t out at that billion in

this is bloomberg. ♪ ♪ emily: tesla is ramping up production of the model three, this after the firstf the line last week. the automaker already has half $1 billion in deposits for the $35,000 electric car. if tesla achieves elon musk's targets, it will build more battery-powered cars next year than all of the worlds carmakers combined in 2016. earlier, i spoke with caroline hyde out of london and started by asking about the outlook for tesla filling all the orders. take a listen. caroline: key question. and half a billion means everyone paying about $1000. that is 500,000 people who have lined up for this particular model three. what we do not about this car is the ramp up is enormous. so far, elon musk has his car . that rolled off this weekend. now the ambition is huge. they have to deliver 30 in july for a special party on july 28. then they want to be hitting numbers such as 20,000 cars by december. they want a fourfold increase by next year, notably amount of cars they want to make in 2018 will be more than were made in terms of electric vehicles worldwide by any automaker in 20

the first 30 tesla model 3 brands are set to be delivered to their owners at a tesla event on july 28ththe communication navigation app waze is offering your own voice prompts including turn-by-turn directions. you can share your reports with family and frechblds. if you don't like your own voice, waze is working with high-profile youtube creators to help them report record their own voice directions for fans. anne-marie? >> i wouldn't trust my own voice giving me directions. i say bring back morgan freeman. that is a voice you can trust. >> i will definitely listen to him. >> roxana saberi of the new york stock exchange. thank you so much, roxana. roxana. >> still ahead, waves of support. dozens of strangers on a beach get together to save a drowning family. so i use restasis multidose. it helps me make more of my own tears, with continued use, twice a day, every day. restasis multidose helps increase your eyes' natural ability to produce tears, which may be reduced by inflammation due to chronic dry eye. restasis multidose did not increase tear production in patients using anti-inflam

. >>> an update on the long awaited tesla model 3.n that, good morning to you. >> good morning. happy fourth of july. while manufacturing numbers are climbing to the highest level in three years, 57.8 the number went up the highest since august. we saw an improvement across the board. the strongest result this is market debate of a weak patch in the data and what that could mean for the fed. the catalyst seem to be a week dollar including global production and stronger u.s. economy. >>> in other news overnight, a double-take on tech stocks globally trading showing prices missed their shares. amazon and google and microsoft all missed and turns out it was a tech nal glitch behind data. >>> and tesla vehicles rolling off the production line and you can still see a problem with production targets. tesla warned a severe shortfall of the 100 kilowatt battery kits. >> a cool looking car there. thanks so much. >>> just ahead, team hot dog or team hamburger? the state by state barbecue breakdown for you. with wimbledon in full swing, serena w

brand-new tesla model 3ss. abc 7 news reporter david louie tweeted this along interstate 880 in fremont yesterday. the $35,000 all electric model 3 car is tesla attempt to enter the mass market. delivery scheduled to start at the end of the month. >> well, this weekend, thousands of people will participate in northern california's largest aids fund-raiser. this is video from last year's aids walk in golden gate park. abc 7 is a proud sponsor. last year's walk raised more than $2.1 million for services and programs. more than $88 million has been raised since the walk started in 1987. this year's aids walk is sunday at sharon meadow in golden gate park. you can still register by calling 415-615-walk. >> it sounds like they have a great lineup this weekend of celebrities and people, like rupaul's drag race. how is that weather going to be? >> you saw everybody was kind of bundled up last year and how gray it was. it will be a little brighter. grab the sunglasses and don't dress quite as warmly. we could get up to