Home News Tesla ended 2018 with a net loss of USD976 million despite profitable Q4 – cash reserve at USD3.69 billion

Tesla ended 2018 with a net loss of USD976 million despite profitable Q4 – cash reserve at USD3.69 billion

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Tesla ended 2018 with a net loss of USD976 million despite profitable Q4 – cash reserve at USD3.69 billion

Tesla recently released its small organization performance results for the quarter of 2018, with the company continuing to stay profitable after successfully turning its own tides at Q3 2018.

However, whilst Q3 2018 saw a net profit of USD311.5 million, the provider only enrolled USD139.5 million in net income for Q4 2018. Across all four quarters, Tesla finished 2018 with a net loss of USD976 million, which is an improvement from the USD1.96 billion decrease it recorded in the end of December 31, 2017.

Looking at other characters, operating revenue for Q4 2018 had been higher than Q3 2018 in USD7.22 billion in comparison to USD6.82 million. The rush to snap up electric cars until the US government decreases the tax incentives on electric vehicles is mainly the cause of the increase.

The company delivered 63,359 Model 3 automobiles at Q4 2018, eclipsing the 56,065 units. Meanwhile, the 27,607 Model S and Model X automobiles were delivered in Q4 2018 in comparison units in Q3 2018.

Revenue from automotive earnings alone stood in USD6.07 billion (Q4 2018) in comparison to USD5.88 billion (Q3 2018). For the last quarter of this year, Tesla’s no money book ended at USD3.69 billion, slightly higher compared to USD3.37 billion it recorded during the exact corresponding period in 2017.

The downward trend in capital expenditure (capex) lasted into Q4 2018 in USD325 million in comparison to USD510 million in Q3 2018. However, the company notes that its USD141 million property purchase in China is reflected in cash flow, and is deducted from capex.

In 2019, the provider expects Model 3 production to grow to a continuing speed of 7,000 units each week at the end of the year. With the addition of Gigafactory Shanghai, which can be predicted to output 3,000 Model 3 vehicles Tesla is intending to produce 10,000 vehicles each week.

Between Q4 2019 along with Q2 2020, the provider is targeting annualised Model 3 production in excess of 500,000 units. The Model 3’s expansion into Europe and China can help the company reach its goal of delivering between 360,000 to 400,000 vehicles at 2019 — a 45 percent to 65% increase in comparison to 2018.

The article Tesla ended 2018 with a net loss of USD976 million even though profitable Q4 – money book at USD3.69 billion appeared initially on Paul Tan's Automotive News.

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