Wednesday, 20 February, 2019

  • Economy
  • Tesla Model Y is on the way -- in 2020

Tesla Model Y is on the way -- in 2020

Vermont's Renoun Skis created a pair of custom sticks for Elon Musk. Renoun Vermont's Renoun Skis created a pair of custom sticks for Elon Musk. Renoun
Conrad Doyle | 31 January, 2019, 18:55

CEO Elon Musk said past year that he expects "positive net income and cash flow" in the fourth quarter.

During Wednesday's fourth-quarter earnings call, Musk shared more about the newest electric vehicle to complement the Model S, X, and 3 cars.

Musk predicted that 2019 would be "an fantastic year for Tesla", and that the days of Tesla reporting losses are in the rear-view mirror.

Wall Street is expecting profits to fall compared to last quarter.

The company announced this month it would cut seven percent of its workforce in a push to lower the price of its Model 3 to keep it affordable, especially as United States subsidies for electric cars are phased out.

In the fourth quarter, customer deposits decreased by $113 million from the prior quarter to $793 million.

Elon Musk, the electric-car maker's CEO, warned investors and employees two weeks ago that pressure to achieve a profit and make the Model 3 more affordable led to more than 3,000 job cuts at the company.

FILE PHOTO: A 2018 Tesla Model 3 electric vehicle is shown in this photo illustration taken in Cardiff, California, U.S., June 1, 2018.

Bullish Tesla analyst Colin Rusch of Oppenheimer told clients Monday that "Model 3 demand, production, and margin" will be the primary drivers of the stock this year.

Tesla reported its cash position improved by about $1.5 million during the quarter even as it repaid $230 million in convertible notes. "The demand for Model 3 is insanely high".

"The real surprise in fourth quarter" was the free cash flow, which tracked a much stronger US$910 million vs JPMorgan's US$349 million and consensus US$412 million. Total fourth-quarter production grew 8% from the third quarter to 86,555 vehicles.

"Tesla serves the objective of a "stalking horse" to the fast growing domestic Chinese EV industry, but we believe it has limited to zero terminal value in a region where a number of domestic champions should emerge", Morgan Stanley analysts said.

Tesla Inc's chief financial officer will leave the company as the automaker on Wednesday promised cheaper Model 3 sedans, the launch of Chinese production this year and profits in every quarter in 2019. Tesla's staff had increased by 30% in 2018, which Musk said was more than the company could support as it seeks to reduce costs.

Trump Slams John Roberts, Gillian Turner Of Fox Information For Wall Protection
Japan coach happy to keep winning ugly in Asian Cup semis

Recommended

loading...
...

Japan coach happy to keep winning ugly in Asian Cup semis Japan coach happy to keep winning ugly in Asian Cup semis While Iran and others can have reservations about the validity of Japan's first two goals , Osako still had to make sure he was decisive.

Chad Ochocinco Watched The Roger Stone Arrest Go Down Chad Ochocinco Watched The Roger Stone Arrest Go Down Stone was charged with lying about his efforts to leverage Russian-hacked emails damaging to Hillary Clinton's 2016 election bid. Stone still possessed many of those communications when he gave false testimony about them, prosecutors said in the indictment .

Howe delighted as Bournemouth thrash Chelsea Howe delighted as Bournemouth thrash Chelsea But for Chelsea fans, fortunately, they can continue singing "Hudson-Odoi, we want you to stay" for a few more months at least. But 45 minutes of largely listless possession and a second-half collapse brought the naysayers to the fore.

Child abuse is ‘a human problem,’ Pope says, tamping down summit expectations Child abuse is ‘a human problem,’ Pope says, tamping down summit expectations The Pope reminded us that every time we fall, God helps us back up and that he is always there to help us. On Sunday, the pontiff asked for prayers for all those who died.

Alibaba's single-quarter revenue hits US$17.46 billion Alibaba's single-quarter revenue hits US$17.46 billion Chinese consumers are still fundamentally very strong and consumption is going to grow over the next 5 to 10 years, he added. Chinese consumers are spending strongly despite an economic slowdown, the chief executive of Alibaba said yesterday.

Xiaomi’s Redmi Note 7 Pro to have 6GB RAM and 128GB storage? Xiaomi’s Redmi Note 7 Pro to have 6GB RAM and 128GB storage? Powering the Redmi Go is a modest 3,000mAh battery which charges via microUSB and it also lacks a fingerprint sensor. The Redmi Note 7 is ahead of the competition here too, coming with Android Pie 9.0 with Xiaomi's MIUI 10 on top.

Report saying joblessness reached 45-year high ‘not verified’: NITI Aayog Report saying joblessness reached 45-year high ‘not verified’: NITI Aayog The unemployment rate was much higher in urban areas with 7.8% rather than rural areas of 5.3%. And critics say the government's claims of economic success have sounded increasingly hollow.

Student Dies After Eating Leftover Pasta That Was Five Days Old Assuming he was suffering from a common case of food poisoning , he drank water and went to bed, hoping to sleep it off. Bacillus cereus is a spore forming bacteria that produces toxins, causing cause vomiting and diarrhea.

Upcoming iPad And iPad Mini May Not Come With Face ID Upcoming iPad And iPad Mini May Not Come With Face ID For the last few months we've heard rumors about a new iPad Mini for 2019, while word of a new iPod Touch is a surprise for many. Data stemming from iOS 12 .12 beta suggests that Face ID authentication may not be supported with the new iPad and iPad mini .

Highly impressed by Kangana Ranaut in Manikarnika: Waheeda Rehman Highly impressed by Kangana Ranaut in Manikarnika: Waheeda Rehman Krish has accused Ranaut of hijacking the filmmaking process even though he had been brought on as solo director. Krish said that he had to defend his filmmaking abilities because of the lies of Kangana Ranaut .

Trump Administration Begins 'Remain In Mexico' Policy, Sending Asylum-Seekers Back Trump Administration Begins 'Remain In Mexico' Policy, Sending Asylum-Seekers Back The development came on the same day Homeland Security Secretary Kirstjen Nielsen visited the San Diego border crossing. A Mexican official, speaking on condition of anonymity, also said the first group would be sent across on Tuesday.

Ole Gunnar Solskjaer's arrival prompts Anthony Martial to sign new deal Ole Gunnar Solskjaer's arrival prompts Anthony Martial to sign new deal The report claims that United are refusing to confirm if a fee has been agreed for the midfielder. Fellaini will find it tough to get regular games at United , given Solskjaer's magic at the club.

Battered by wildfires and scandals, PG&E files for bankruptcy Battered by wildfires and scandals, PG&E files for bankruptcy Wildfire victims have little chance of getting punitive damages or taking their claims to a jury in a bankruptcy proceeding. Legal experts say the bankruptcy will likely take years to resolve and will result in higher rates for PG&E customers.

ICC Women’s Championship: Mandhana stars as India thrash New Zealand ICC Women’s Championship: Mandhana stars as India thrash New Zealand While Shikha Pandey picked one wicket, Ekta Bisht, Deepti Sharma and Poonam Yadav contributed with two wickets each in the match. Veteran pacer Jhulan Goswami struck thrice in the second ODI while the spinners shared six wickets amongst themselves.

Gunners enter race to sign Idrissa Gueye ahead of PSG Gunners enter race to sign Idrissa Gueye ahead of PSG There have been no new offers". "For our players, I want their full focus even if we know the market is still open until the 31". If Gueye is to leave Goodison Park before tomorrow's deadline, any potential deal is set to go right to the wire.