The new largest quarterly loss was fixed by Tesla

The new largest quarterly loss was fixed by Tesla

May 3, 2018 0 By autotimesnews

The result of January-March of this year was the fifth in a row for the company, which for the past several quarters has recorded record financial losses. According to the official report of Tesla, according to the results of the first three months of 2018, the loss amounted to $ 709.6 million. All the last year the company, headed by Elon Musk, also set “antirecords”.

The new largest quarterly loss is reported by Reuters. According to the results of the first three months of 2017, Tesla’s loss amounted to approximately $ 330 million. This indicates that the indicator for the year has more than doubled. At the same time, compared to the fourth quarter of 2017, the manufacturer’s revenue grew by 1% (then a loss of $ 675 million was recorded).

Analysts assumed that the loss of Tesla in the first quarter of 2018 will be even greater. The company said that profits can be demonstrated by the end of the third quarter of this year, if the manufacturer of the electric cars gets to the previously declared volumes of Model 3 production – 5,000 units per week. Note, in late April, according to the company, it was collected about 2,270 copies of the model.

Recall, the production of Tesla Model 3 started in July 2017, but the company was faced with problems in increasing production volumes. The model promised to become a cheapest in the line, which also includes expensive Model X and Model S. The progress on one charge of the basic version of this electric car will be about 350 km, the top speed is 210 km/h, the 100 km/h 5,6 seconds.

In the US, the price of the initial configuration of the Model 3 should start at $ 35,000.

Tesla planned to produce an all-wheel drive modification of Model 3. However, not earlier than the production of 5,000 cars per week will be achieved. The American car maker plans to achieve this result by July 2018.

Note, the total loss of Tesla for 2017 amounted to approximately 2.24 billion dollars. As a result of 2016, the company lost about 772 million dollars in 2016. At the end of last month, it became known that Elon Musk could lose his post, and it could happen in June, if the board of directors takes a decision.