Tesla has reported its income, liquid assets and production numbers to wrap up the year 2017. Despite increased sales of the Model S and Model X, Teslas’ Q4 2017 represents their largest quarterly loss yet.
The Q4 net loss of 675.35 million dollars came about despite a 10% increase of Model S and Model X deliveries compared to the previous Q3. The loss can be attributed to Teslas continued investment and planning .
Resources are reallocated to meet the incoming Model 3 production quotas for 2018, which have already encountered delays. Tesla insists they will be able to meet quota and have concrete plans to double production capacities, once the current planned quota of 5,000 units per week has been reached.
They also expect a big increase in profit for 2018, which is not unlikely as Teslas is not only scaling up EV production for the private market, but is also interested in assisting a change to more sustainable transportation in the work place and commercial areas.
Despite the negative news, Elon Musk whipped up some excitement for the Model Y, saying a production plan will be revealed in the next 3-6 months – once the production model for the Model 3 is more established and has fully taken swing.
Musk also commented that he is looking forward to the production of the Model Y, and to “avoid all the pain that they went through with Model 3 production ramp up.”
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