Friday, 26 February, 2021


Spacefaring Tesla Roadster will miss Mars and asteroids

Tesla stock price earnings Markets Insider
Kristine Garrett | 10 February, 2018, 09:20

Tesla - which has pushed back its Model 3 production targets several times - is banking on the more affordable model to propel it from niche electric-car maker to mass-market manufacturer.

Tesla's free cash flow was negative at $276.8 million in Q4, way lower than the $1.4-billion cash the company burnt in Q3 and the $969.8 million cash burnt in Q4 2016. On an adjusted basis, the company lost $3.04 per share, less than the $3.12 per share loss predicted by analysts. Shares of Tesla have fallen 10 percent since September, but are up 10 percent from January.

The dual-motor all-wheel drive Model 3, meanwhile, is also expected in late 2018.

"We expect investors will remain split on results and that shares will trade sideways as bulls remain patient on Model 3 production", he wrote.

"My bad @Tesla Model 3 news finally came, friends".

In January, CNBC reported that production of the company's Model 3 sedan could be even further delayed thanks to an ongoing battery assembly issue. We'll remind you that Tesla moved this target to the end of Q1 after missing it last December, so there's no real guarantee we'll see it by the end of Q2, either.

Chief Executive Elon Musk revised the production targets for the new model in January.

If there's one saying that Tesla CEO Elon Musk must be familiar with, it's "shoot for the stars". The firm has twice delayed its 5,000-cars-per-week production target, which still stands at sometime between April and June, Tesla announced during a conference call with analysts February 7.

Tesla Inc. posted a record quarterly net loss of $675 million in the fourth quarter, up from a net loss of $121 million in the same period a year ago. The stock was up about 11 percent this year through Wednesday's close after surging 46 percent in 2017. He said there was no actual assembly done by hand, with the workers rather moving the parts between the machines. Until Model 3 production ramps up, high per-unit costs will likely hurt Tesla's bottom line. Tesla will also start investing this year to add production of the Model Y, a small electric crossover that will be the next vehicle in its lineup.

His expectations for Model Y, which hasn't yet been unveiled, are enormous. CNBC sources claimed the company is "not close" to producing the batteries required for its most affordable electric vehicle yet. Lyft said it hired McNeil as its chief operating officer. "This is a revolution, " Robert Zubrin said in a statement.

The question to be answered in Washington now is why would Congress continue to spend billions of taxpayer dollars a year on a government-made rocket that is unnecessary and obsolete now that the private sector has shown they can do it for a fraction of the cost?

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