Jump to content
News
Reviews
Discussons
Activity
Create New...
Close
  • William Maley
    William Maley

    By William Maley •

    Tesla Posts Their 13th Straight Quarterly Loss

      $293 million loss for this quarter

    Tesla announced their second quarter results yesterday and the news wasn't great. The electric automaker posted a net loss of $293 million for the quarter. It also looks like Tesla might fall short of delivering 80,000 vehicles goal for this year. The quarter saw Tesla move 14,402 vehicles (9,764 Model S and 4,638 Model Xs). Add in the first quarter deliveries of 11,507 vehicles, and Tesla is very short of meeting this goal.

     

    "We are clearly disappointed with our delivery numbers," said Tesla CFO Jason Wheeler.

     

    It should be noted that 'almost half' of Q2's deliveries took place within the last four weeks of the quarter.

     

    "We were in production hell for the first six months of the year. Man, it was hell. And we managed to climb out of hell partway through June and now the production line is humming and our suppliers mostly have their $h! together," said Tesla CEO Elon Musk during a conference call with analysts.

     

    There was some good news for Tesla in the second quarter. The company posted $1.6 billion in revenue for the quarter.

     

    Source: Tesla, Reuters

     

    Go to articles

    User Feedback

    Recommended Comments

    balthazar

    How much are Tesla's revenue numbers bolstered by deposits for cars not remotely in production yet?
    When those cars are produced/sold, their revenue per unit there is automatically $1000 less… that's $400 million less over however many quarters it will take to produce 400K Model #3s.

    Link to comment
    Share on other sites
    G. David Felt

    This was expected, just another money loss and the announcement this week of using tesla stock to buy up his cousins money losing solar panel business is to divert attention from the fact that this company has not really delivered on what they say.

    • Agree 1
    Link to comment
    Share on other sites
    Suaviloquent

    The monies collected as deposits is NOT revenue, it's treated as restricted cash under GAAP and IFRS.

     

    Revenue is recorded when it is EARNED, therefore there will be no reduction in revenue. Restricted cash is not exactly an asset, because there is a corresponding liability.

    • Agree 3
    Link to comment
    Share on other sites
    ccap41

    How much are Tesla's revenue numbers bolstered by deposits for cars not remotely in production yet?

    When those cars are produced/sold, their revenue per unit there is automatically $1000 less… that's $400 million less over however many quarters it will take to produce 400K Model #3s.

    Time value of money plays a part here as well though which would work slightly in their favor, even though it is only 1-3 years.

    The monies collected as deposits is NOT revenue, it's treated as restricted cash under GAAP and IFRS.

     

    Revenue is recorded when it is EARNED, therefore there will be no reduction in revenue. Restricted cash is not exactly an asset, because there is a corresponding liability.

    Somebody here has taken a few accounting classes ;)
    Link to comment
    Share on other sites
    oldshurst442

    Troubling news for ninnies who are Tesla devotees.  Plus the autopilot crash in China that just happened just makes the smile look even more "forced".  :smilewide:

    Trouble is..

    The Chinese driver did not have his hands on the steering wheel at the time of the accident...regardless if the Model S was on "autonomous" mode...

     

    Too bad for the 33 year old Chinese programmer and much to your chagrin that Tesla has NEVER said 'autonomous' driving is full on autonomous....

    There was a human sitting at the driver's chair, but a human was not paying attention to what was going on and THAT is how this is gonna play out.

    Much like the last time you had a hard on for a Tesla failure...

     

     

    Party On!!!

     

    http://www.roadandtrack.com/motorsports/videos/a30357/watch-this-tesla-model-s-run-a-record-breaking-10-second-quarter-mile/

     

    Edited by oldshurst442
    • Agree 1
    Link to comment
    Share on other sites
    ocnblu

    Didn't he testify that the Tesla salespeople before he took delivery, in his estimation, misrepresented or oversold the purpose of "autopilot"?

     

    And yes sir... Tesla's troubles are better than Viagra *wink*wink*  :AH-HA:

    Link to comment
    Share on other sites
    oldshurst442

     

    Party On!!!

    I believe you will soon be schooled… that luxury sedan owners don't care to, nor are remotely interested in, drag racing. ;)

     

    As long as I keep on being a party animal, I dont care what others do.

    As long as M-B keeps on making E and S Class AMGs, Cadillac CTS Vs, and Tesla makes Ludicrous mode Model S and possibly Model 3...and so forth and so forth

     

     

    Im gonna Rock Around The Clock. Until Broad Day Light.

    I wanna Rock N Roll All Night And Party Every Day!

    party.jpg

     

     

    giphy.gif

    Edited by oldshurst442
    Link to comment
    Share on other sites


    Join the conversation

    You can post now and register later. If you have an account, sign in now to post with your account.
    Note: Your post will require moderator approval before it will be visible.

    Guest
    Add a comment...

    ×   Pasted as rich text.   Paste as plain text instead

      Only 75 emoji are allowed.

    ×   Your link has been automatically embedded.   Display as a link instead

    ×   Your previous content has been restored.   Clear editor

    ×   You cannot paste images directly. Upload or insert images from URL.

    ×

  • google-news-icon.png



  • google-news-icon.png

  • Subscribe to Cheers & Gears

    Cheers and Gears Logo

    Since 2001 we've brought you real content and honest opinions, not AI-generated stuff with no feeling or opinions influenced by the manufacturers.

    Please consider subscribing. Subscriptions can be as little as $1.75 a month, and a paid subscription drops most ads.*
     

    You can view subscription options here.

    *a very limited number of ads contain special coupon deals for our members and will show

  • Similar Content

  • Posts

    • ccap41
      Chevrolet News:Walmart deploys Chevrolet BrightDrop electric vans to service 62 million households nationwide.

      By ccap41 · Posted

      Great for Walmart and BrightDrop/GM.  I'd really like to see/read a review on an in-depth comparison of this versus the Rivian/Amazon delivery van. 
    • ccap41
      Random Thoughts Thread

      By ccap41 · Posted

      Those new Sierra EVs seem like one heck of a vehicle overall.  The price (obviously) and the app situation are really the only two downsides I see in that truck.  Well, bye bye freedoms! I'll see them on the other side! Hopefully they only make one trip to my house for my freedoms and guns. No point in making two trips. 
    • oldshurst442
      Random Thoughts Thread

      By oldshurst442 · Posted

      Unfortunately, that is how democracy fails.  When you dont want to worry about…well…about your rights.  It takes EVERYBODY in the village to protect democracy. I understand where you stand. But that kind of attitude and you will be kissing your freedoms away. This is what happens when too many dont worry about it and one nefarious individual with minions attempts to steal several rights away.     
    • Drew Dowdell
      Random Thoughts Thread

      By Drew Dowdell · Posted

      I"m getting the Avalanche inspected today at the dealer where @HoLottaBuicks works and he let me test drive the Denali EV on a short jaunt. I came away very impressed... as I should since the sticker is $102k.  But beyond all the stats we know of about the EV drivetrain, the interior was very nicely made with nice materials and finishes. The exception being parts of the door panels felt a bit plasticy.   It rides like a luxury sedan, though I didn't put it into sport mode or anything to see if the suspension firms up.  I would need more time to explore the screens. It's a bit hard to navigate the main screen because a lot of the icons are the same color, so you have to actually read what the app does.   The back seat is much roomier than my truck.  I still object to having to buy a separate data plan just to use the apps I already use on my phone.  Overall it is a great truck, but $102k is a bit steep. 
    • ccap41
      Random Thoughts Thread

      By ccap41 · Posted

      I do my research on the candidates and vote. That's it. I won't throw a fit whether party B or party A wins. Just because I don't let it bother me, doesn't mean I don't "participate".  I'll let you do that for me, because I don't want to. 

  • Who's Online (See full list)

  • My Clubs

×
×
  • Create New...

Hey there, we noticed you're using an ad-blocker. We're a small site that is supported by ads or subscriptions. We rely on these to pay for server costs and vehicle reviews.  Please consider whitelisting us in your ad-blocker, or if you really like what you see, you can pick up one of our subscriptions for just $1.75 a month or $15 a year. It may not seem like a lot, but it goes a long way to help support real, honest content, that isn't generated by an AI bot.

See you out there.

Drew
Editor-in-Chief

I've whitelisted
Continue without support

Write what you are looking for and press enter or click the search icon to begin your search