Jump to content
  • William Maley
    William Maley

    Tesla Posts Their 13th Straight Quarterly Loss

    Sign in to follow this  

      $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

     

    Sign in to follow this  


    User Feedback

    Recommended Comments

    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.

    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.

    • Upvote 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.

    • Upvote 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 ;)

    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:

    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
    • Upvote 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:

    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. ;)

    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

    Share this comment


    Link to comment
    Share on other sites

     

     

     

     

     

    I remember that video, the wife is smoken hot and the race is cool, nothing wrong here. :metal:

    Share this comment


    Link to comment
    Share on other sites


    Join the conversation

    You can post now and register later. If you have an account, sign in now to post with your account.
    Note: Your post will require moderator approval before it will be visible.

    Guest
    Add a comment...

    ×   Pasted as rich text.   Paste as plain text instead

      Only 75 emoji are allowed.

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

    ×   Your previous content has been restored.   Clear editor

    ×   You cannot paste images directly. Upload or insert images from URL.




  • Similar Content

    • By Drew Dowdell
      The Tesla Model 3 nearly broke into the top 10 best selling vehicles in Europe for September 2019, missing the mark by just 217 units.  Overall, sales growth in the EU is strong with 14 markets reporting positive numbers.  Germany came in at 9.1 percent and Italy came in at 6.5 percent.  Battery electric vehicles were up sharply, increasing 119 percent, of which Tesla controlled nearly 50% of that number.  Total Tesla registrations were 19,500 out of the 40,700 BEVs registered.  That put the Tesla Model 3 as the best selling BEV in Europe. 
      For September, the Volkwagen Golf was the best selling vehicle in Europe with 32,398 units registered. 
      Tesla shares jumped 18 percent yesterday after a surprise profit for Q3 of $1.86 per share, up from an expected loss of 42 cents per share. 

      View full article
    • By Drew Dowdell
      The Tesla Model 3 nearly broke into the top 10 best selling vehicles in Europe for September 2019, missing the mark by just 217 units.  Overall, sales growth in the EU is strong with 14 markets reporting positive numbers.  Germany came in at 9.1 percent and Italy came in at 6.5 percent.  Battery electric vehicles were up sharply, increasing 119 percent, of which Tesla controlled nearly 50% of that number.  Total Tesla registrations were 19,500 out of the 40,700 BEVs registered.  That put the Tesla Model 3 as the best selling BEV in Europe. 
      For September, the Volkwagen Golf was the best selling vehicle in Europe with 32,398 units registered. 
      Tesla shares jumped 18 percent yesterday after a surprise profit for Q3 of $1.86 per share, up from an expected loss of 42 cents per share. 
    • By Anthony Fongaro
      EV-curious. That’s what I would call myself. Someone that is interested in EVs but just hasn’t found the right one. There are many aspects of an EV that is appealing to me. Instant torque, quick acceleration, the ability to charge at your house or apartment, and the continuation of creating semi-autonomous driving. It’s all so exciting! I’m ready to go out and trade in my 2016 Volkswagen GTI for one now! Or am I? Let’s take a quick look at a small field of electric vehicles, starting with the brand new 2020 Porsche Taycan.
      The release of the 2020 Porsche Taycan is a feat in and of itself. The car itself is downright sexy, is has a handsome interior, and performance that is pure Porsche. Over 700 HP for the Turbo S model is impressive. It also costs what you would expect an electric super-Porsche would be since the range topping Taycans are coming out first. These are the Turbo and Turbo S which cost over $150,000. After these come onto the market, less expensive and less powerful versions will come. Would this be the car that I will buy? Sure, once I get that CMO position at a major company. This is a dream electric car, but not one that I would consider just yet. 
      What about an attainable electric car? There are a few on the market that cover the bases. Vehicles like the Hyundai Kona Electric, Chevy Bolt, Nissan Leaf, and others have good to respectable range, decent features, and are not the most expensive vehicles. Average prices of $40,000-$45,000 is a bit steep, but electric cars usually command a premium over gasoline vehicles. They also have good driving aids such as blind spot monitoring and adaptive cruise control, something that my current car has and is top priority for me. They’re all very good cars but with flaws such as build quality and designs that keep me from considering one. My problem is simple: performance. Electric cars have instant torque at 0 RPM and can be extremely fast. These EVs just don’t cut the mustard for me since they are more about range than blistering speed. For around $45,000, I can get a gas-powered car such as a Genesis G70 3.3T that is faster, has better range, and the safety features I want. Let’s continue from good electric vehicles to “the best”.
      Right now, you are probably thinking: “Anthony, you are forgetting the king of electric vehicles. They are synonymous with electric cars and have a huge cult following.” Guess who that is? Yes, that is of course Tesla. You can’t write about electric cars without talking about Tesla. They are a very S 3 X Y R brand indeed. The Model S introduced expensive but seriously quick electric vehicles. The X brought us an odd but much-needed crossover. The 3 is the bread-and-butter maker with a starting price around $40,000, and acceleration that beats almost all vehicles in its class. The Y hasn’t come out yet but is a crossover version of the 3, and the Roadster is a $250,000 supercar. Even though there are three models currently available, I will focus on the Model 3 Performance since that is the one I am most interested in.
      There is a lot to like about the Model 3 Performance. It has “performance” in its name and with 450 HP, it is one of the quickest sedans I’ve ever driven. The instant torque from the motors is intoxicating and it handles well for a heavy vehicle. Does it tick all the boxes to convert to a Tesla-fanatic? No. Why? The interior. I am not a fan of controlling absolutely everything with a touchscreen and not having my speedometer in front of me.
      The Model 3 Performance can have semi-autonomous driving, but it is a $7,000 option. Tesla’s Autopilot driver-assist system is standard and is regarded to be one of the best, if not the best driver-assist system. Tesla has sold over 250,000 Model 3 vehicles and it is a genuinely amazing feat for a young company. The range is good at over 310 miles. Pricing starts at $55,000 and is fully-loaded around $64,000. If you are okay with the minimal interior and styling, get yourself a Model 3. I personally am not a fan of either of those, so onward we go.
      This brings me to a car I am waiting for: The Polestar 2 fastback. Polestar used to be a sub-division of Volvo, like AMG is to Mercedes-Benz. You can still get Polestar-tune Volvos, but Polestar has branched out into their own brand. The Polestar 2 is their first all-electric car. It has over 250 miles of range, 400 HP, and most import to me, gauges that are straight in front of the driver. The design is bold yet looks like an even more modern version of a Volvo. Since Polestar is a sporty company, the performance upgrades include upgraded shocks, brakes, and bigger wheels with Swedish gold seat belts. You get this package mainly for the gold seat belts. Is it pricey at over $60,000? Yes, but it feels justified for the 408 hp and range of 275 miles. 0-60 is said to be around 4.7 seconds but I suspect it will be lower. Will they sell Tesla Model 3 numbers of them? I highly doubt it since they area new brand, but it should be a great competitor to the Tesla Model 3.
      I like the concept of electric vehicles. I know that one day, there will be one charging at my house. Am I ready for an electric car? Yes. Is there any on the market that jumps out at me and gives me the satisfaction I have for my current car at a reasonable price of around $40,000 new? No.
      Do not get me wrong; there are electric cars that make sense for a multitude of situations. Range and charging are getting better, more features are getting added, and manufacturers are creating electric-only ranges of vehicles that will bring down the costs of more performance-oriented vehicles. I can go in-depth about certain electric cars in a future article. For now, I think I will keep my car and wait until something really catches my eye. That, or wait a few years and hope the Porsche Taycan depreciates enough that I can buy one.
       

      View full article
    • By Anthony Fongaro
      EV-curious. That’s what I would call myself. Someone that is interested in EVs but just hasn’t found the right one. There are many aspects of an EV that is appealing to me. Instant torque, quick acceleration, the ability to charge at your house or apartment, and the continuation of creating semi-autonomous driving. It’s all so exciting! I’m ready to go out and trade in my 2016 Volkswagen GTI for one now! Or am I? Let’s take a quick look at a small field of electric vehicles, starting with the brand new 2020 Porsche Taycan.
      The release of the 2020 Porsche Taycan is a feat in and of itself. The car itself is downright sexy, is has a handsome interior, and performance that is pure Porsche. Over 700 HP for the Turbo S model is impressive. It also costs what you would expect an electric super-Porsche would be since the range topping Taycans are coming out first. These are the Turbo and Turbo S which cost over $150,000. After these come onto the market, less expensive and less powerful versions will come. Would this be the car that I will buy? Sure, once I get that CMO position at a major company. This is a dream electric car, but not one that I would consider just yet. 
      What about an attainable electric car? There are a few on the market that cover the bases. Vehicles like the Hyundai Kona Electric, Chevy Bolt, Nissan Leaf, and others have good to respectable range, decent features, and are not the most expensive vehicles. Average prices of $40,000-$45,000 is a bit steep, but electric cars usually command a premium over gasoline vehicles. They also have good driving aids such as blind spot monitoring and adaptive cruise control, something that my current car has and is top priority for me. They’re all very good cars but with flaws such as build quality and designs that keep me from considering one. My problem is simple: performance. Electric cars have instant torque at 0 RPM and can be extremely fast. These EVs just don’t cut the mustard for me since they are more about range than blistering speed. For around $45,000, I can get a gas-powered car such as a Genesis G70 3.3T that is faster, has better range, and the safety features I want. Let’s continue from good electric vehicles to “the best”.
      Right now, you are probably thinking: “Anthony, you are forgetting the king of electric vehicles. They are synonymous with electric cars and have a huge cult following.” Guess who that is? Yes, that is of course Tesla. You can’t write about electric cars without talking about Tesla. They are a very S 3 X Y R brand indeed. The Model S introduced expensive but seriously quick electric vehicles. The X brought us an odd but much-needed crossover. The 3 is the bread-and-butter maker with a starting price around $40,000, and acceleration that beats almost all vehicles in its class. The Y hasn’t come out yet but is a crossover version of the 3, and the Roadster is a $250,000 supercar. Even though there are three models currently available, I will focus on the Model 3 Performance since that is the one I am most interested in.
      There is a lot to like about the Model 3 Performance. It has “performance” in its name and with 450 HP, it is one of the quickest sedans I’ve ever driven. The instant torque from the motors is intoxicating and it handles well for a heavy vehicle. Does it tick all the boxes to convert to a Tesla-fanatic? No. Why? The interior. I am not a fan of controlling absolutely everything with a touchscreen and not having my speedometer in front of me.
      The Model 3 Performance can have semi-autonomous driving, but it is a $7,000 option. Tesla’s Autopilot driver-assist system is standard and is regarded to be one of the best, if not the best driver-assist system. Tesla has sold over 250,000 Model 3 vehicles and it is a genuinely amazing feat for a young company. The range is good at over 310 miles. Pricing starts at $55,000 and is fully-loaded around $64,000. If you are okay with the minimal interior and styling, get yourself a Model 3. I personally am not a fan of either of those, so onward we go.
      This brings me to a car I am waiting for: The Polestar 2 fastback. Polestar used to be a sub-division of Volvo, like AMG is to Mercedes-Benz. You can still get Polestar-tune Volvos, but Polestar has branched out into their own brand. The Polestar 2 is their first all-electric car. It has over 250 miles of range, 400 HP, and most import to me, gauges that are straight in front of the driver. The design is bold yet looks like an even more modern version of a Volvo. Since Polestar is a sporty company, the performance upgrades include upgraded shocks, brakes, and bigger wheels with Swedish gold seat belts. You get this package mainly for the gold seat belts. Is it pricey at over $60,000? Yes, but it feels justified for the 408 hp and range of 275 miles. 0-60 is said to be around 4.7 seconds but I suspect it will be lower. Will they sell Tesla Model 3 numbers of them? I highly doubt it since they area new brand, but it should be a great competitor to the Tesla Model 3.
      I like the concept of electric vehicles. I know that one day, there will be one charging at my house. Am I ready for an electric car? Yes. Is there any on the market that jumps out at me and gives me the satisfaction I have for my current car at a reasonable price of around $40,000 new? No.
      Do not get me wrong; there are electric cars that make sense for a multitude of situations. Range and charging are getting better, more features are getting added, and manufacturers are creating electric-only ranges of vehicles that will bring down the costs of more performance-oriented vehicles. I can go in-depth about certain electric cars in a future article. For now, I think I will keep my car and wait until something really catches my eye. That, or wait a few years and hope the Porsche Taycan depreciates enough that I can buy one.
       
    • By Drew Dowdell
      After four years of watching Porsche's Mission E concept go through the stages to production, the final product has finally arrived in the Porsche Taycan. In doing so, Porsche has its sights set directly on Telsa. 
      At launch, the Taycan will be available only in the top trims of Taycan Turbo and Turbo S.  Being fully electric, neither of them actually has a turbo of course. Packing a 93.4 kWh battery pack in its floor, the Taycan has a lower center of gravity than a Porsche 911. The top-line Turbo S can generate up to 750 horsepower with overboost mode engage and that will get the 5,100 lb car from 0 to 60 in 2.6 seconds. The standard Turbo makes do with 670 horsepower and a 0 to 60 of 3.0 seconds. Top track speed is limited to 161 mph for both. The Taycan is AWD using a dual motor system with one motor at each axle. Unlike EVs from Tesla and Nissan, Porsche uses a two-speed transmission to gain maximum acceleration and easy highway cruising.
      The Taycan is the first production EV with an 800 volt system instead of the more common 400 volts for other electric cars. With the fastest charging available on the market, the Taycan can recharge from 5% to 80% in just 22.5 minutes under ideal conditions when connected to a 270 kW charger that will be found at all Porsche dealerships.  Home chargers will use a more common 9.6 kW charger.  Higher speed charging using Electrify America's network is available for free for the first 3 years. While EPA ratings for range have yet to be released, the Turbo is rated for 236 miles to 279 miles on the EU cycle and the Turbo S is rated for 236 miles to 256 miles on the same cycle. Assume somewhere in the mid-250s once the EPA gets their hands on one. 
      While the Taycan does get a traditional hydraulic braking system, Porsche says that the regenerative system can handle 90 percent of all braking. A standard adaptive air suspension is also there with Porsche Dynamic Chassis Control. 
      On the interior Porsche mounted 5 screens that surround the front occupants with tech. Up front is a 2.8 cubic foot glove box storage space, and out back is a bit more roomy 12.9 cubic foot storage. Porsche put indents into the floor for rear passengers to give more legroom. 
      The Taycan is expected to go on sales towards the end of this year.  Launch pricing is $154,660 for the Turbo and the Turbo S starts at $186,350.  Cheaper models will come later. 

      View full article
  • Posts

  • Social Stream

  • Today's Birthdays

    1. ichbinjohnk
      ichbinjohnk
      (36 years old)
    2. Paolino
      Paolino
      (43 years old)
  • Who's Online (See full list)

  • My Clubs

About us

CheersandGears.com - Founded 2001

We ♥ Cars

Get in touch

Follow us

Recent tweets

facebook

×
×
  • Create New...