Tesla reported a record loss

3 May 2018

As Elon Musk joked at this time?

Tesla has published the financial report for the first quarter of 2018. It was not unexpected: the company again announced record loss. This time it reached $710 million. In addition, the electric car is experiencing a number of serious problems in different sectors from a tense relationship with the authorities after a fatal accident to care of a large number of key employees.

The head of Tesla Ilon Musk (Elon Musk) has long been trying to make a good mine at bad game. The company's losses are no longer unusual. Investors have long been accustomed to this and not even consider capital outflow negative factor: by and large, they invest money in the future. However, as the innovative brand has continued to deteriorate.

For the first quarter of 2017, "Tesla" recorded a loss of $330 million. For the fourth quarter of 2017 financial report was drawn up with a total of minus $675 million. The company relentlessly updates its own negative records.

Musk is trying to rein in uncontrolled spending. It not only makes their subordinates to cut back spending recently leaked internal email, according to which any expenditure in excess of one million dollars, requires his personal approval. However, recent evidence suggests that Tesla is not just continues to burn his own money, but also closer than ever to the financial gap: at the current rate, all funds will end in six months.

Interesting statistic quoted by the Agency Bloomberg. According to estimates of analysts, Tesla every minute burns about $6 500. This amount shows the free cash flow, i.e. the amount of cash generated by a company after accounting for capital expenditures. The specialists agree with Bloomberg colleagues from Reuters: if nothing will not change dramatically, Tesla will be left without money this year.