Tesla shares down nearly 8% after Musk forecasts red ink till 2020

SAN FRANCISCO (MarketWatch) — Shares of Tesla Motors Inc. TSLA, -6.25% opened at an 8-month low on Wednesday, losing more than 7% in early trading. Speaking late Tuesday at the Detroit auto show, Chief Executive Elon Musk said the electric car maker won’t turn a profit until 2020, when its mass-market electric car, the Model 3, is in full production. Musk also told The Wall Street Journal that sales in China declined significantly in the fourth-quarter and had not been a large contributor to global sales. Tesla shares have lost 15% so far this year, and gained 17% in the past 12 months.

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