• Sign in to follow this  
    Followers 0

    Tesla Posts Their 13th Straight Quarterly Loss


    • $293 million loss for this quarter

    Tesla announced their second quarter results yesterday and the news wasn't great. The electric automaker posted a net loss of $293 million for the quarter. It also looks like Tesla might fall short of delivering 80,000 vehicles goal for this year. The quarter saw Tesla move 14,402 vehicles (9,764 Model S and 4,638 Model Xs). Add in the first quarter deliveries of 11,507 vehicles, and Tesla is very short of meeting this goal.

     

    "We are clearly disappointed with our delivery numbers," said Tesla CFO Jason Wheeler.

     

    It should be noted that 'almost half' of Q2's deliveries took place within the last four weeks of the quarter.

     

    "We were in production hell for the first six months of the year. Man, it was hell. And we managed to climb out of hell partway through June and now the production line is humming and our suppliers mostly have their $h! together," said Tesla CEO Elon Musk during a conference call with analysts.

     

    There was some good news for Tesla in the second quarter. The company posted $1.6 billion in revenue for the quarter.

     

    Source: Tesla, Reuters

     

    0


    Sign in to follow this  
    Followers 0


    User Feedback


    How much are Tesla's revenue numbers bolstered by deposits for cars not remotely in production yet?
    When those cars are produced/sold, their revenue per unit there is automatically $1000 less… that's $400 million less over however many quarters it will take to produce 400K Model #3s.

    0

    Share this comment


    Link to comment
    Share on other sites

    This was expected, just another money loss and the announcement this week of using tesla stock to buy up his cousins money losing solar panel business is to divert attention from the fact that this company has not really delivered on what they say.

    1

    Share this comment


    Link to comment
    Share on other sites

    The monies collected as deposits is NOT revenue, it's treated as restricted cash under GAAP and IFRS.

     

    Revenue is recorded when it is EARNED, therefore there will be no reduction in revenue. Restricted cash is not exactly an asset, because there is a corresponding liability.

    3

    Share this comment


    Link to comment
    Share on other sites

    How much are Tesla's revenue numbers bolstered by deposits for cars not remotely in production yet?

    When those cars are produced/sold, their revenue per unit there is automatically $1000 less… that's $400 million less over however many quarters it will take to produce 400K Model #3s.

    Time value of money plays a part here as well though which would work slightly in their favor, even though it is only 1-3 years.

    The monies collected as deposits is NOT revenue, it's treated as restricted cash under GAAP and IFRS.

     

    Revenue is recorded when it is EARNED, therefore there will be no reduction in revenue. Restricted cash is not exactly an asset, because there is a corresponding liability.

    Somebody here has taken a few accounting classes ;)
    0

    Share this comment


    Link to comment
    Share on other sites

    Troubling news for ninnies who are Tesla devotees.  Plus the autopilot crash in China that just happened just makes the smile look even more "forced".  :smilewide:

    0

    Share this comment


    Link to comment
    Share on other sites

    Troubling news for ninnies who are Tesla devotees.  Plus the autopilot crash in China that just happened just makes the smile look even more "forced".  :smilewide:

    Trouble is..

    The Chinese driver did not have his hands on the steering wheel at the time of the accident...regardless if the Model S was on "autonomous" mode...

     

    Too bad for the 33 year old Chinese programmer and much to your chagrin that Tesla has NEVER said 'autonomous' driving is full on autonomous....

    There was a human sitting at the driver's chair, but a human was not paying attention to what was going on and THAT is how this is gonna play out.

    Much like the last time you had a hard on for a Tesla failure...

     

     

    Party On!!!

     

    http://www.roadandtrack.com/motorsports/videos/a30357/watch-this-tesla-model-s-run-a-record-breaking-10-second-quarter-mile/

     

    Edited by oldshurst442
    1

    Share this comment


    Link to comment
    Share on other sites

    Didn't he testify that the Tesla salespeople before he took delivery, in his estimation, misrepresented or oversold the purpose of "autopilot"?

     

    And yes sir... Tesla's troubles are better than Viagra *wink*wink*  :AH-HA:

    0

    Share this comment


    Link to comment
    Share on other sites

    Party On!!!

    I believe you will soon be schooled… that luxury sedan owners don't care to, nor are remotely interested in, drag racing. ;)

    0

    Share this comment


    Link to comment
    Share on other sites

     

    Party On!!!

    I believe you will soon be schooled… that luxury sedan owners don't care to, nor are remotely interested in, drag racing. ;)

     

    As long as I keep on being a party animal, I dont care what others do.

    As long as M-B keeps on making E and S Class AMGs, Cadillac CTS Vs, and Tesla makes Ludicrous mode Model S and possibly Model 3...and so forth and so forth

     

     

    Im gonna Rock Around The Clock. Until Broad Day Light.

    I wanna Rock N Roll All Night And Party Every Day!

    party.jpg

     

     

    giphy.gif

    Edited by oldshurst442
    0

    Share this comment


    Link to comment
    Share on other sites


    Your content will need to be approved by a moderator

    Guest
    You are commenting as a guest. If you have an account, please sign in.
    Add a comment...

    ×   You have pasted content with formatting.   Remove formatting

      Only 75 emoticons maximum are allowed.

    ×   Your link has been automatically embedded.   Display as a link instead

    ×   Your previous content has been restored.   Clear editor




  • Popular Stories

  • Today's Birthdays

    1. 94commo
      94commo
      (50 years old)
    2. Aerodynamic
      Aerodynamic
      (30 years old)
    3. LPE427Fbird
      LPE427Fbird
      (42 years old)
  • Similar Content

    • By William Maley
      The Model 3 is Tesla's most anticipated vehicle and biggest gamble the company has undertaken. But this gamble has become more risky thanks to a decision concerning the production line.
      Reuters reports that Tesla is skipping a step most automakers undertake when producing a new vehicle. Prototype tools are bought in on the production line to help determine issues in terms of fit and finish. Once these issues are worked out, the prototype tools are scrapped and automakers place orders for permanent and expensive tools. But Musk told investors last month, Tesla was jumping into the permanent and expensive part first so they can meet their self-imposed volume production deadline of September.
      "He's pushing the envelope to see how much time and cost he can take out of the process," said Ron Harbour, a manufacturing consultant at Oliver Wyman.
      According to a source, this 'soft tooling' caused problems for Model X. Due to a tight timeline to get the vehicle into production, Tesla was unable to take any of the lessons learned from this before ordering the final production tooling.
      "Soft tooling did very little for the program and arguably hurt things," said the source.
      Musk said computer simulations has helped with skipping the prototype tooling stage.
      This move fits Elon Musk's tendency to take big gambles and do things a bit different than what is expected in the industry. Most of the time, it has paid off. 
      The problem is if this equipment proves to be flawed in some way, it could cost Tesla millions to fix the issue and introduce production delays. 
      "It's an experiment, certainly," said Jake Fisher from Consumer Reports. Tesla could possibly fix these errors quickly, "or it could be they have unsuspected problems they'll have a hard time dealing with."
      Source: Reuters

      View full article
    • By William Maley
      The Model 3 is Tesla's most anticipated vehicle and biggest gamble the company has undertaken. But this gamble has become more risky thanks to a decision concerning the production line.
      Reuters reports that Tesla is skipping a step most automakers undertake when producing a new vehicle. Prototype tools are bought in on the production line to help determine issues in terms of fit and finish. Once these issues are worked out, the prototype tools are scrapped and automakers place orders for permanent and expensive tools. But Musk told investors last month, Tesla was jumping into the permanent and expensive part first so they can meet their self-imposed volume production deadline of September.
      "He's pushing the envelope to see how much time and cost he can take out of the process," said Ron Harbour, a manufacturing consultant at Oliver Wyman.
      According to a source, this 'soft tooling' caused problems for Model X. Due to a tight timeline to get the vehicle into production, Tesla was unable to take any of the lessons learned from this before ordering the final production tooling.
      "Soft tooling did very little for the program and arguably hurt things," said the source.
      Musk said computer simulations has helped with skipping the prototype tooling stage.
      This move fits Elon Musk's tendency to take big gambles and do things a bit different than what is expected in the industry. Most of the time, it has paid off. 
      The problem is if this equipment proves to be flawed in some way, it could cost Tesla millions to fix the issue and introduce production delays. 
      "It's an experiment, certainly," said Jake Fisher from Consumer Reports. Tesla could possibly fix these errors quickly, "or it could be they have unsuspected problems they'll have a hard time dealing with."
      Source: Reuters
    • By dfelt
      G. David Felt
      Staff Writer Alternative Energy - www.CheersandGears.com
       
      200 MPH plus EV, Do we care?
       
      Yesterday April 13th 2017, Lucid sent out an email about how their near production test car hit a top speed of 217 mph at the Ohio's Transportation Center banked oval test track. Many of us that follow the industry know that Tesla limits their auto's to 155 mph.  Lucid is on record that they intend to meet the needs of the high-speed cruising market of Europe and Middle east. Simulations can only go so far on a computer and then you have to put rubber to the road. This allows the engineers to monitor and tweak everything from the power train, suspension, body fluidity and so much more. This will allow them to review the data, make adjustments and come back later to push the limit even higher.
      We know that Lucid is planning on a $60,000 dollar 400hp, 240 mile range RWD EV with the top model being a six figure AWD 1,000 HP and 400 miles of range on a super dense battery pack.
      This begs the Question, other than the few places you can push this kind of Speed, Does it matter any more if an auto can go over 100 plus mph?
      This question comes from seeing so many auto's that are now breaking that 6 second 0-60 speed showing they have the torque and hp to maintain the speed needed for daily driving.
      Lucid News 
    • By dfelt
      The first hyperloop test bed is built and ready for it's first run according to this story.
      http://www.msn.com/en-us/news/technology/high-speed-hyperloop-track-ready-for-first-trial-run/ar-BBzziBe?OCID=ansmsnnews11
    • By dfelt
      First Video of Tesla 3
       
  • Recent Status Updates

  • Who's Online (See full list)