autoevolution
cars
moto
news
car reviews
spyshots
driven cars
space junk
green
newspaper
Compare Cars
BAC Calculator
Editorial
Coverstory
Motorsport
Testdrives archive
Auto Shows
Tuning
Car Finder
Photo of the Day
Glossary of automotive terms
Masthead
RSS Feeds
More on this:1 After Flamethrowers and Teslaquila, Elon Musk Will Make Electric Leaf Blowers2 Tesla Updates Model S and X with Increased Range, New Suspension and More3 Video of Full Self-Diving Tesla Shows How Boring the Entire Experience Can Be4 Elon Musk Announces Gigantic Uber-Like Service with Self-Driving Cars5 Tesla to Reveal Full Self-Driving Tech on Monday, April 22
Space Junk
Dusty InSight Shows Up in Martian Selfie
Tesla Bleeds Money Again Despite EV Hype
25 Apr 2019, 9:44 UTC ·
by Daniel Patrascu
Home > News > Industry
It was a very busy week for the world’s iconic electric carmaker, Tesla. It started on a high note on Monday, with Elon Musk outlining plans for the future, but reached a dramatic climax as the financial results for the first quarter of the year were released on Wednesday.
7 photosIf we didn’t know better, we’d think Musk's presentation on the first day of the week was designed to soften the blow of a negative financial performance, by announcing a million autonomous cars on the roads next year. But on Wednesday, the company announced its financial proficiency for the first three months of the year, and it’s all dramatic.
In spite of the positive way in which the company came out of 2018, at the end of March 2019 Tesla posted a net loss of $702 million, including $188M of non-recurring charges, and exceeding some of the most pessimistic expectations of the market.
The loss, huge for a carmaker the size of Tesla, comes on the background of an increased production of cars. In the first quarter, there were some 63,000 electric cars made, a rise of 3 percent over the previous quarter and an encouraging sign the company might meet its 400,000 targets for this year.
The carmaker blames part of the loss in the past few months on dropping prices, the start of production overseas and the reduction of the tax credit.
“This required significant effort for Tesla and resulted in an inventory build for overseas markets at the front half of the quarter, with shipments loaded into the back half of the quarter,” the carmaker said according to Clean Technica.
“The last 10 days of the quarter, specifically, saw the bulk of the deliveries as Tesla pushed to unload the inventory it had built up in the front half of the quarter. Dropping prices in Q1 puts pressure on automotive margins. We need to work through this in Q2, impacting profitability.”
click to load Disqus comments for this storyThis enables Disqus, Inc. to process some of your data.
Smoke and Mirrors: Volvo's New Top Speed Limit
Let's Get Wet: A Simple Guide for Driving in the Rain
The Fascinating Unknown Cars of the 2019 Geneva Motor Show
Manipulated Into Liking Cars
The Dos and Don’ts of Washing a Motorcycle, Part One
2019 Formula 1 Round-Up: Cars, Drivers, Regulations
The Engine Start-Stop Systems Conspiracy
What Is the Green NCAP?
The Biggest Anticipations in Motorcycling for 2016, Part 1
Could Volkswagen Group's Electric Plans Include Ducati?
How the Aston Martin Aeroblade Works
Headwave TAG Helmet Music and Navigation System Reviewed
On Electric Harleys and New Generations
The Dos and Don’ts of Washing a Motorcycle, Part Two (Final)
Aprils Fools' Pranks We’d Love or Hate to See Come True
The Perversion of the Fast and the Furious
How to Use the Tesla Autopilot No-Confirmation Lane Change Option
Alfred Neubauer: the First “Don” of Motor Racing
Car, Go Make Me Some Money!
How Cadillac Super Cruise Hands-Free Driving System Works
Lamborghini: the Italian Supercar Dynasty That Was Created Out of Vengeance
TESLA MOTORS models:TESLA MOTORS Model Y CrossoverTESLA MOTORS Roadster Coupe CabrioTESLA MOTORS Model S LuxuryTESLA MOTORS Model 3 Medium PremiumTESLA MOTORS Model X Large SUVAll TESLA MOTORS models
googletag.cmd.push(function(){ window.slot4 = googletag.defineSlot(“/1004334/AE_news_300x600_noref”, [300, 600], “AE_news_300x600_noref__slot_4”).addService(googletag.pubads()); googletag.display(“AE_news_300x600_noref__slot_4”); });if(typeof window.REQUEST_NONPERS !== “undefined”) { console.log(“manref”); googletag.pubads().refresh([window.slot4]); } '+'ipt>';
if(i==3) txt+='googletag.cmd.push(function(){ window.slot5 = googletag.defineSlot(“/1004334/AE_news_300x250_noref”, [300, 250], “AE_news_300x250_noref__slot_5”).addService(googletag.pubads()); googletag.display(“AE_news_300x250_noref__slot_5”); });if(typeof window.REQUEST_NONPERS !== “undefined”) { console.log(“manref”); googletag.pubads().refresh([window.slot5]); } '+'ipt>';
}
txt+=””+
“”+
“”+data[i][0]+””+
“”+
“”+
“”+data[i][2]+”
“+
“”+
“”+
“”;
}
txt+=””;
$('#morescroll').html(txt);
nxloaderactive=false;
});
}
function aenext_lzy() {
$(window).on(“scroll”, function() {
if(nxstories!=false) return;
var footOffset = $(“#footer”).offset().top;
if($(window).scrollTop() > footOffset – $(window).height() – 600) aenext_load();
});
}
function aenews_fixoverlaps_actual() {
window.aeoverlapst=-1;
var $rsoc=$(“.rightsocial”).first();
if($rsoc.length!=0) {
var rsocofs=$rsoc.offset().top;
var $newsgal=$(“.newsgal”).first();
if($newsgal.length==0) return;
var ngofs=$newsgal.offset().top+$newsgal.height();
if(rsocofs