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Tesla promises to be profitable in 2019 after mixed results



Tesla announced mixed results Wednesday, promising to be profitable in every quarter of 2019, despite the cut in US government tax credits on electric vehicles.

The electric vehicle manufacturer also assured it had a solid backing position to meet the inevitable $ 920 million and would not have to go back to debt with the financial markets. On December 31, the money was $ 3.7 billion.

"We have enough cash to make money" bondholders with maturities in March, said Executive Director Elon Musk and Chief Financial Officer Deepak Ahuy in a letter to shareholders.

Greening the green carousel has fueled demand for car brands, which returned to green in the fourth quarter of 2018 and recorded $ 139.48 million from a loss of $ 675.3 million in the same period of 2017.

This is, however, significantly less than the 311.16 million earned in the third quarter. Stock Report and tailored for exceptional items, the gains from electric vehicle manufacturers, batteries and solar panels reached only $ 1.93 in the last three months against $ 2.19 expected by an average analyst.

Turnover more than doubled to $ 7.2 billion thanks to the market for a new Model 3 vehicle that would make Tesla a massive manufacturer. It is higher than the expected 7.07 billion.

Electric truck this summer

Tesla, who recently decided to cut more than 3,000 jobs (7% of its workforce) to save money and remain competitive with Audi, Porsche and Jaguar this year, plans to deliver between 360,000 and 400,000 cars, which is slightly lower than expected investors. This is between 47% and 63% more than in 2018 (245,000 units).

"Global demand for model 3 during economic growth is 700 to 800,000 units per year, but in recession is 40% less", said Elon Musk, confirming that Tesla would present "Mid Year" a cheaper version of this car, whose basic price is currently $ 44,000.

The manufacturer also plans to uncover the electric hoist this summer.

Demand for Tesla's cars – model S, model X and model 3 – worries the market after the manufacturer has lowered prices to limit the impact on sales on January 1, by reducing federal taxes from $ 7,500 to $ 3,750.

Faced with these doubts, the group has published a roadmap to which it will publish "Very little" gain in the first quarter as it expects to deliver a limited number of cars during that period due to the harassment associated with the first sales of model 3 in Europe and China.

After the time of adjustment, "Our goal is to achieve net profit and positive cash flow for each quarter in 2019."says Tesla, who also relies on his broad-based restructuring to achieve this goal.

The savings package should save $ 400 million a year.

Tesla, which has just opened a huge battery factory in China, intends to speed up production of model 3 after 2018 "Heavy" marked by the narrow throats that led his boss to sleep at the factory.

It hopes to reach a production rate of 500,000 in the fourth quarter of 2019 and the second quarter of 2020 "Model 3" per year.

In the United States, model 3 production has increased in the fourth quarter and is expected to reach 7,000 units a week since the end of the year. This number will need to add 3000 copies a week to the Chinese factory, which will bring about 10,000 initial goals that Tesla stopped.


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