May 3, 2018 - 01:51 pm

Tesla Q1 2018: Record losses, but Model 3 on track

tesla-model-s-model-x-supercharging

Tesla has released their Q1 results past Thursday. A record loss does not look amazing, however it is balanced by the Model 3 production catching up. Analysts see a positive trend.

Three values most notably mark the Q1 report: a 26% increase in revenue to 3.41 billion dollars exceeded expectations of most analysts. The loss of 709.6 million dollars marked the highest in Tesla’s history. Finally, the 2,270 Model 3’s produced in the last week in April indicate that the factory is back on track – compared to the 2,020 at the end of March.

Particularly the last number is of import to the stakeholders, as the middle-class model has caused Tesla some headaches in the past. This provides fresh hope that Musk will bring the company on track for the targeted production of 5,000 units per week by the end of June. As a result, it should be no surprise that the Tesla stock has been rising again. The fact that Tesla has been burning some major funds on their production thus does not scare investors. The investors are wagering that the big years for Tesla are about to begin, as they are on track to produce affordable EVs before their competitors on a large scale. That the Q4 losses from 2017 stood at 330.2 million dollars, less than half the current losses, is an expected hurdle. Ironically, Tesla was able to make some gains in the Tesla Energy area with stationary battery storage, an area from which Daimler recently exited.

Tesla has meanwhile stated that the production numbers for Q1 of the luxury models Model S and Model X were at a combined 21,815 vehicles, as well as a total of 9,766 Model 3. In summary, Tesla can point to 29,997 delivered vehicles for their first quarter of the year. The company also speaks of new order records, but did not mention exact numbers. There are still around 450,000 standing orders for the Model 3. The Tesla supercharger network was meanwhile also expanded by another 77 locations to a total of 1,205 charging parks with 9,300 charging points around the world.

greencarcongress.com, electrek.co, shareholder.com (PDF)

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Found on electrive.com
https://www.electrive.com/2018/05/03/tesla-q1-2018-record-losses-but-model-3-on-track/
03.05.2018 13:37