Tesla reports record loss but claims outlook is positive
One of the well-known electronic car makers Tesla has registered its biggest quarterly loss and told that they have learned many lessons from its crucial model 3 production plans. As we very well know that, the company’s future hangs on the model 3 sedan, but since last few months it struggled with its production bottlenecks.
In three months to 31st of December, the Tesla reported a loss of $675.4m which compared with around $121.3m a year earlier. But the Tesla officials stated that the revenues increased to $3.29bn high from $2.28bn and it was considered to be model 3 production addressing issues.
On Wednesday, Tesla reported that , “At some point in the year 2018, we as a firm expect to start implementing positive quarterly income on a sustained basis.”
Despite the recent production loss, the electric car maker told that, it would surely continue to target model 3 production rates of almost 2,500 by the end of this year & nearly 5000 by the end of the 2nd quarter.
Elon Musk’s car firm in record loss
However, Tesla added that, “Our successive experience on the model 3 production has released the difficulty of forecasting the specific production rates at the specific points in time.”
Last year, the model 3 went on the sale in the America with price at $35,000. It is said to be a medium sized car which Tesla demonstrates as its most affordable car & expects it will have a mass market appeal.
It’s cheaper than Tesla’s current models including the Model X, an SUV & the Model S. Some analyst stated that the first impressions of the firm’s results were upbeat. No further delays in model 3 production should be taken positively.
On the other hand, investors were not confident as the company’s share declined in after-hours trading.