Tesla once again has updated the record losses

2 August 2018

The company published the report for the second quarter

It seems only recently we discussed the losses Tesla, and now the company has once again updated the historical record. It's funny that the world media headlines do not change: they mostly sound like "Tesla recorded record losses".

As we remember, in the first quarter of 2018 Tesla officially lost $710 million. Now financial publication talking about the fact that the capital outflow for the second quarter more than doubled. However, in this case the reference point is taken the same period last year, the second quarter of 2017, when the losses amounted to $336,4 million. Now loss increased to $717,5 million.

It turns out that even with the headlines about the new record as a whole the situation has remained the same: when comparing the second quarter of 2018 with the first, the loss increased by only 1 %, which can be called the statistical error.

However, even with the growth of losses analysts generally reacted positively to the new financial report. Moreover, the experts admitted that the published data has surpassed expectations. So, many had expected in the second quarter Tesla lost $900 million.

Analysts also draw attention to the fact that producer profits jumped by half: from $2,79 billion in the second quarter of 2017 to almost $4 billion over the same period this year. Rapidly growing sales: last year, the company has delivered to customers slightly more than 22 thousand electric cars now — 40 740. However, it is worth considering that now the most popular model in the clip "Tesla" became the Model 3, which is significantly cheaper than the Model S and Model X, so that money brings less.

At the same time we cannot ignore the fact that recently the Tesla Model 3 was recognized the most cost-effective electric vehicle in the world: that by selling one car manufacturer earns about 30 %, an unprecedented figure for the industry.

The head of Tesla Elon Musk has confirmed plans to increase production of Model 3 up to 6 000 cars a week by the end of August. By year-end, the conveyor must accelerate to 10,000 electric cars per week. But it is worth remembering that before, billionaire were constantly mistaken in their forecasts.

Previously Elon Musk obadal make Tesla profitable in the second half of this year. In addition to increasing production and profit growth businessman rapidly reduces costs. He hopes to reduce capital expenditures from $3.4 billion in 2017 to $2.5 billion in 2018. One of the ways is to optimize the state: recently, Tesla announced a reduction of 9 % of the staff.

The reaction of the stock market has not kept itself waiting: according to Reuters, the cost of Tesla stock after the publication of the report jumped by 11 %.