Sunday, 17 February, 2019

Tesla Celebrates Back-to-Back Profit for the First Time

Musk predicts demand for Model Y could be double that of Model 3 Tesla Model Y is on the way -- in 2020
Laurie Berry | 01 February, 2019, 23:27

Musk said that Ahuja's retirement will not be immediate, and that he will continue to serve as a senior adviser to the company.

In an official blog post, Musk said that the electric vehicle maker company will not initiate a lawsuit against those who'd use the patented technology for a good cause. Stretching beyond that will require the seamless start of the company's planned factory in Shanghai, which Tesla says should be operational by the end of the year.

The quarterly profit was less than half of the $311.5 million the company had earned in the three months to September.

"That's our biggest challenge", Tesla chief executive Elon Musk said.

We last heard about the Model Y crossover mid-size SUV vehicle a year ago and it sounded like it was going to be revealed sooner rather than later.

A new plant in China could boost the Model 3 production rate even higher.

That valuation relies on spectacular growth in the years ahead, but recent price and staff cuts suggests Tesla might find it more hard than expected to deliver that growth profitably.

Musk announced a 7 percent workforce reduction earlier this month, saying it was crucial to cut costs to roll out a lower-priced, yet still profitable, Model 3. This is because Model Y will share about 3/4 of the components from the Model 3.

E-commerce norms to hurt consumers, pricing: Amazon CFO Brian Olsavsky
The company had a few years ago made a conscious decision to move away from driving sales through its in-house retailer WS Retail. Amazon and Flipkart themselves remain tight-lipped about the expected impact.

That long-promised $35,000 version is not yet on sale, though it's scheduled to arrive this year sometime.

USA electric vehicle maker Tesla Inc said it will start taking orders in China on Friday for a lower-priced version of its Model 3 auto, as it seeks to accelerate China sales hit by trade friction between Washington and Beijing. The electric auto maker has a $920 million convertible bond due on March 1. For the full year, Tesla also made a loss of $976.09 million.

Revenue at the company, run by maverick entrepreneur Elon Musk, hit £5.5billion - fractionally above analysts' forecasts of £5.4billion.

In more concrete terms, Tesla is "expecting to deliver 360,000 to 400,000 vehicles" throughout 2019.

"Tesla has a fantastic brand, and by all accounts a fantastic product, but we're anxious it's also fantastically expensive", said Nicholas Hyett, Equity Analyst at Hargreaves Lansdown.

The bull vs bear debate is heating up again following Tesla Inc.'s fourth-quarter results.

"The 2019 outlook was a mixed bag with lower than expected unit volume, a target for improved margins, restructuring-led cost savings, and lower capex". The energy sector with Tesla battery storage units and solar systems from SolarCity generated around 1.5 billion dollars, with a further 1.4 billion coming from the service business and other areas such as the sale of zero-emission vehicle credits.

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