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  • Drew Dowdell
    Drew Dowdell

    By Drew Dowdell •

    Tesla Posts $722M First Quarter Loss

      ...swing from profit to big loss in one quarter...

    Tesla posted a $722M loss for the first quarter of 2019, higher than analysts expectations.  This was a swing from a 4th quarter 2018 profit of $139.5M.  Cash on hand is $1.5B lower than end of 2018, now $2.2B, partially due to a one time payment of $920M in convertible bonds that came due.

    Tesla says that is built 63,000 model 3s in the first quarter gearing up for overseas sales, though only 12,100 of those vehicle were delivered. Tesla is maintaining its projections of 360,000 to 400,000 vehicles total for the year. 

    Tesla recently announced updates to its Model S and Model X vehicles that allow them to travel further on a single charge and also charge up to 50% faster than before. These updates require the purchase of a new vehicle and cannot be simple downloads over the air.  They are also offering current owners who purchase a new Model S or Model X Performance model a free upgrade to Ludicrous Mode. Part of the reason for this upgrade is that the Model S, Model X, and Model 3 now share drive components and that simplification could yield big savings for the company. 

    Tesla is also preparing for the launch of the Tesla Model Y small crossover based on the Model 3 sedan, but deliveries of that vehicle do not start until Fall 2020

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    David

    Pretty much to be expected with the work on the Model Y. I think the big question is this time next year with a full year of Model 3 production and the start of Model Y if they can sustain profitability or not. That will be the key to longer term success and survival as an independent company.

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    Drew Dowdell
    15 minutes ago, dfelt said:

    Pretty much to be expected with the work on the Model Y. I think the big question is this time next year with a full year of Model 3 production and the start of Model Y if they can sustain profitability or not. That will be the key to longer term success and survival as an independent company.

    Well there is also the big fall off on deliveries.  I would think that would be the biggest issue of them all. Can't sustain things if they can't sell. 

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    balthazar

    Profitability has been nearly unobtainable for Tesla since the Model S debuted- that doesn't seem to have any affect on it's longevity, for some inexplicable reason.
    What's probably a bigger issue is the drastic decline in sales. U.S. Q1 2019 was down 61%, yet go find that number published anywhere.

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