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Tesla loses money again as shipments decline



2019 was stony for the electric car maker Tesla: He announced to bring Model 3 sedans with a price of 35,000 US dollars on the market, which made the order more difficult. It said it would shut down all of its showrooms, then said it would keep some open – and raise prices to make up for it. CEO Elon Musk predicted that 1 million of his fully self-propelled robot axes will be moving through the country next year, despite the fact that the autonomous technology is not yet complete. Musk continued to struggle with the US Securities and Exchange Commission for its Twitter habit.

The rollercoaster continues: On Wednesday, Tesla said he cracked his second-quarter profit by earning a $ 702 million loss on supply and logistics issues for the first. The loss was worse than the expected expected purchase price of Wall Street, which is $ 2.90 per share, compared to the predictions of a 69-cent loss.

As the company further eliminates production and Musk makes allegations about autonomous vehicles, the numbers prove that driving a car company is sometimes due to fundamental issues, such as driving people into people's garages.

The report also left a long question: Can Tesla make enough money to survive as an "affordable" electrical company, Model focuses on selling models 3s instead of luxury and vehicles with higher margins of models S and X? Now that shoppers have the opportunity to buy a more affordable vehicle, Musk will never sell as many of those more expensive and profitable cars as it once sold, "says Karl Brauer, chief editor of the automotive research publication Kelley Blue Book. "Now Tesla lives and dies on the model 3."

Tesla says it does not believe the Model 3 is not capable of selling its luxury cars. "It actually seems to be different market segments," Musk said in the call.

Tesla relied on the quarterly loss ̵

1; the largest since last summer – on a number of factors, notably the challenges of delivering overseas vehicles. Tesla delivered only 63,000 vehicles in the first quarter, down 31 percent from the fourth quarter of 2018, and just 12,100 S and X luxury models, half of the fourth quarter. Bringing cars to customers in China and Europe "was the most difficult logistics problem I've ever encountered, and I've seen some difficult ones," Musk said on a call. He reiterated what the company reported earlier this month: half of the quarterly deliveries were made in the last 10 days of the quarter. This resulted in a crisis that was unpleasant for both employees and customers alike. The company will work to rethink and refine its delivery strategies later this quarter, Musk said, but advised shareholders not to expect further earnings by the second half of the year.

An upcoming factory in Shanghai could also help Tesla overseas. and it will become firmly established in a protectionist country seriously concerned with electric vehicles. Musk said the construction is "surprisingly good" and said he expects to reach mass production in Shanghai by the end of the year. Musk has previously said that Tesla is considering building an assembly plant in Europe.

The company also said the sale suffered from the planned and phased exit of the federal electric vehicle loan – a problem for a car maker who wants to sell his electrics to the masses In January, potential buyers of Tesla could get the original loan of 7,500 Halve the USD, to $ 3,750. This means that in the last quarter of 2018 the company proposed motivated buyers for the purchase of vehicles. However, in the coming months, credit will continue to decline to $ 1,875

Tesla said its compact SUV, the Model Y, will be produced by 2020. Musk said Tesla has begun ordering the equipment needed to build the vehicle, although it has not yet decided whether the Model Y will be manufactured at its Fremont, California facility or at the Gigafactory facility in Reno, Nevada.

Musk dismissed questions about a slowdown in demand for the company's cars, which was fueled by frequent price shifts and overpacks in the last quarter. "We see a strong demand for vehicles," said Musk, calling the Model 3 Standard Plus $ 39,500 "an incredibly compelling vehicle affordable to the top 40 percent of US and European earners." (The car now comes with the company's semi-automatic autopilot feature as standard.)

The Tesla share fell only 0.3 percent in the aftermarket trade on Wednesday night, suggesting that investors are preparing for the bad news were. In fact, the company's stock had already suffered a major blow earlier when Detroit giant Ford announced it would invest $ 500 million in electric car starter Rivian – a small but growing Tesla rival, the two 400-mile Range has promised electric vehicles by the end of next year. Ford said it would work with Rivian to develop a new EV. Which points to another challenge for Tesla on the horizon, which is partly due to its own success: The best-selling electric vehicle in the world will soon have much more competition.


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