Wednesday, 21 August, 2019


Tesla reports profit as issues stabilise

Elon Musk Tesla Tesla reports profit as issues stabilise
Conrad Doyle | 01 February, 2019, 23:23

Speaking to analysts following Tesla's Q4 earnings report, CEO Elon Musk said he estimates global Model 3 demand to reach 700,000 to 800,000 units per year in a strong economy.

Whether or not Tesla can continue its momentum will be determined by the future of the Model 3, the electric sedan to which Tesla has tied its fortunes, amid economic headwinds that include potential tariffs and the end of electric vehicle tax credits in the United States.

"Zach's incredibly talented, has made a huge contribution to Tesla over the years, and obviously very well known to the whole team and has the respect of the whole team", Musk said.

The California-based firm said in a statement that Chinese customers will be allowed to place orders for a long range, rear-wheel-drive Model 3 variant whose price will start at 433,000 yuan ($64,300.56).

Yet, as Model 3 expansion efforts and production ramp progress in 2019 across the globe, Tesla should realize significant economies of scale.

At the time, CNBC reported that Morton had clashed with Musk over the latter's plans to take Tesla private. "And it could be a lot more than that, but even with tough economic times to see 50 percent growth is pretty nutty". In this, it'll be something more aligned with the Model X SUV's pricing.

But in a letter to investors published last night, he conceded that Tesla should be able to make 10,000 of the vehicles by the end of 2019.

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

Despite the great quarter, Tesla still posted a $1 billion loss across the year. The company says it is snagging customers from beyond conventional notions of its segment. In 2018, according to Tesla's Shareholder Letter, "Model 3 then went on to become the best-selling passenger vehicle in the USA in terms of revenue in both Q3 and Q4". He said back then that the "true competition is not the small trickle of non-Tesla electric cars being produced, but rather the enormous flood of gasoline cars pouring out of the world's factories every day". Reads the filing: "In 2019, full-year Model 3 volumes will grow substantially over 2018 due to a full year of high production rates at our Fremont facility". "We need to bring the Shanghai factory online, and that's the biggest variable in us getting to 500,000" units for the Model 3, Musk said. "Our auto is very expensive going into China with import duties and the higher cost of labor here". Musk said the company has revamped a system in which spare parts were stored at regional warehouses.

Musk said Tesla is also focused heavily on improving service operations in North America after reports of poor customer service and fix delays.

Recommended

loading...
...

Janssen to get another chance at Tottenham Hotspur Janssen to get another chance at Tottenham Hotspur For different reasons he can't go. "For different reasons he can't go away - reasons that are hard of course to understand for me".

Kentucky gov gets heat for criticizing cold-weather closures Kentucky gov gets heat for criticizing cold-weather closures Louisville teacher, Tiffany Dunn, tweeted: "These elitist comments don't shock me anymore, but they're still appalling". Governor Mark Bevin made the remarks during a a radio interview Tuesday on 840 WHAS , calling America "soft".

Canada to cut Cuba presence after another diplomat falls ill Canada to cut Cuba presence after another diplomat falls ill Canada will continue to have an ambassador in Havana and officials said full consular services will be available to Canadians. In a statement, the Canadian government acknowledged the case, and announced that diplomatic staff in Cuba would be halved.

How To Search Showtime Posters: Fortnite Challenges For DJ Marshmello Concert How To Search Showtime Posters: Fortnite Challenges For DJ Marshmello Concert Are there any special challenges? If you need help finding a Showtime Poster, we have a guide for that as well. The second Showtime challenge is available to complete, requiring players to visit the Showtime venue.

Beyoncé, Jay-Z offer lifetime concert tickets for fans who go vegan Beyoncé, Jay-Z offer lifetime concert tickets for fans who go vegan The Greenprint website provides some visual information on how exactly eating plants is supposed to impact the environment.

FIJI Water Girl Is Suing FIJI Water Over Cardboard Cutouts FIJI Water Girl Is Suing FIJI Water Over Cardboard Cutouts "The fake document was not signed by Fiji Water and was later destroyed by Steinbach". Including celebs who don't like being stalked ...

Ebola spreading into "high security risk area" of DRC Ebola spreading into Hundreds of buildings, including churches, schools and health centers, were damaged in the violence, it said. It is the biggest Ebola outbreak since the virus ravaged West Africa between 2014 and 2016.

Massive Hole Two-Thirds the Size of Manhattan Discovered in Antarctic Glacier About the size of Florida, Thwaites Glacier is now responsible for approximately 4 percent of global sea level rise. Despite this high rate of retreat, melt rates are still higher on the western side , where the void is located.

Second Apple staffer charged with stealing self-driving vehicle secrets Second Apple staffer charged with stealing self-driving vehicle  secrets A June 20 image found on Chen's personally owned computer showed "an Apple-designed wiring harness for an autonomous vehicle". NBC reports that investigators found about a hundred photographs taken inside an Apple building on his hard drive.

'Alexa was very busy': Amazon reports record profits and strong holiday season Looking at the company as a whole, holiday quarter sales hit $72.4 billion, up 20 per cent compared to the same period past year . Sales for the full year grew 31 percent to $232.9 billion. "That number will move around", Olsavsky said on the earnings call.

Details Set for Trump’s Summit With North Korea’s Kim Jong Un Details Set for Trump’s Summit With North Korea’s Kim Jong Un He defended his handling of foreign policy, pointing to "tremendous progress" with North Korea over its nuclear weapons program. North Korea has balked at such a demand, claiming an inventory will give the US a list of targets to destroy.

Dwayne Johnson Reveals 'Hobbs & Shaw' Trailer Launch Date, Potential Jason Momoa Position Dwayne Johnson Reveals 'Hobbs & Shaw' Trailer Launch Date, Potential Jason Momoa Position In another Instagram post, Johnson hinted at the film's major themes: family and smashing stuff. Unfortunately for these critics, there are more Fast and Furious spin-offs in the work.

US announces withdrawal from nuclear arms treaty with Russia US announces withdrawal from nuclear arms treaty with Russia The U.S. has informed its North Atlantic Treaty Organisation allies of its intention, according to the information. Moscow expects to receive "some sort of notice" from Washington about its withdrawal on Saturday, Peskov said.

Students killed in walkway collapse at South African school, say officials Students killed in walkway collapse at South African school, say officials The reason for the walkway's collapse was not immediately known, but all relevant authorities were on the scene to investigate. Netcare 911 reported earlier that "multiple people have sustained injuries ranging from minor to moderate".

Mizzou football banned from 2019 bowl over academic violations Mizzou football banned from 2019 bowl over academic violations He argued that the infraction was based on the actions of one person who acted outside their expectations for staff members. That means that the Tigers' highly regarded football team won't be eligible for the SEC title game or a bowl game this fall.