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On Wall Street, Tesla's quarterly report was deemed surprisingly positive. It has exceeded most analysts' forecasts with horse lengths and the Tesla stock price rose 12% on Wednesday. Elon Musk managed to promise to publish his results in the third quarter of 2018.
Tesla has long suffered from the decline with the production of model cars 3, which means they can not deliver the promised cars on time. Musk had promised to produce 5,000 cars a week already last year, but it is only this summer that they have managed to achieve that goal. Due to these delays, many buyers started to cancel their cars and during the year, an increasingly frustrated Musk seemed to have constant flames of anger on Twitter and in media interviews.
After increasing the efficiency and lowered the forecasts for how much they could produce, they have now captured. Elon Musk called it "a historic district" for Tesla. This is the first time they are profitable, even if they deny the powerful subsidies given to Tesla, notably by the State of California, which during this quarter paid Tesla a contribution of $ 51 million under the Zero Emission Vehicles initiative, which will encourage the manufacture of electric cars. and climate friendly transport. Therefore, in Silicon Valley, many consider this quarterly report as the first "real" benefit of Tesla.
"This is a turning point – they have dramatically changed the buying behavior of the automotive market," said Salim Morsy, a transportation analyst at Bloomberg, at the end of the report. However, analysts warned that Tesla was now tracking the number of car loading stations in the United States.
According to the journalists who participated in the conference call during which Musk announced the numbers, he would have been very tactful in thanking those who worked overtime for Tesla to catch up on Model 3 production.
Read more: The wild months of Elon Musk shaking Tesla
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