Among the details shared in the company's letter to shareholder were sales updates on each of Tesla's three models, and demand for its original two, the S and X, appears to be struggling.
"Deliveries of Model S and Model X declined to 12,100 vehicles in Q1 compared to our two- year run rate of roughly 25,000 units per quarter,""This decline was mainly caused by weaker Q1 demand due to seasonality, pull-forward of sales into Q4 2018 in the U.S. due to the first scheduled reduction of the federal EV tax credit in Q1 and discontinuation of our 75 kWh battery pack."
There were some fears that the Model 3, which now comes at a much cheaper price than its larger counterparts, but executives were quick to discount those fears on a conference call following the earnings report. "3.5% of trade-ins for the Model 3 are coming from the Model S," CEO Elon Musk said in response to a question, adding that its a"tiny portion" of all trade-ins. '
Tesla said the average selling price for Model 3, which currently starts at $39,500 in the US, is currently around $50,000. For comparison Models S and X start at $78,000 and $83,000, respectively.
when are their reports not abysmal
Over $700M loss this Q. Rough times! My unpopular opinion, this is the time to put some money in Tesla stock if you’re willing not to touch it for the next 7-10 years
What? Mr Musk ISN'T the God he thinks he is in his own mind?
😂😂😂😂😂😂😂😂😂😂
Right, doomed to fail just like that shit Amazon company who didn't turn a profit for over a decade...
Gotta take a loss for a good comeback
If I ran things at Tesla, I'd drop everything I'm doing to buy off whatever is left of Sears. Transform old Sears stores into Tesla showrooms/sales departments and the old Sears auto shops could be used as a service department. You're welcome, elonmusk.
DavidDobrik oh
Lol Tesla too much focus on the R&D department and less on the production line. You should look into investing in GM plant make modification as needed and get it going chap! chap! homie elonmusk
Ouch
Lol Tesla too much focus on the R&D department and less on the production line. You should look into investing in GM plant make modification as needed and get it going chup! chup! homie elonmusk
Ouch
Because his eyes are too close together
podslurp
180
Tesla Models are S3XY
This is our of context. Look at what other car manufacturers are reporting! They’ve all made a loss! It’s not just Tesla it’s the time of year and the market as well.
Umm yeah because it takes time to ship cars and they report their financials every quarter rather than year. If you compare this to last year they’ve made a huge profit.
Yeah cause not a lot of people can afford a $50k car. It's not rocket science
Just donate the remainder of the inventory to folks who need vehicles. The oil industry weren’t gonna let it last.
Ouch
They could reduce the price Tesla
When your primary market is those with wealth, you're going to suffer when they move on to the next trend.
Tesla should just give their cars out for free with an insurance. It might solve the problem
See what happens when we try to go to Mars? This is why we can’t have nice things. tesla
Elon walking into the office tomorrow ready to fire some execs:
good god I hope my boyfriend sees this, i’m tired of fighting
This loss is irrelevant in the grand scheme of things. By the end of 2020 Tesla will be riding high 👍
OMG. Can some grab the government a rake? They have trouble grabbing all the 💰.....
Most companies don’t do well Q1, its after the holiday season and nobody wants to spend any more money. 🤷♂️
And we find out from Germany that EV batteries take more CO2 to produce than 400,000 miles in a oil fueled car. Has it all been a con?
Reduce the price, give the public more options. Different styling.longer guarantees. Learn from the Japanese and Koreans. The public wants more. So deliver.
Aw tesla bears will be bears
The $7,500 Tax Credit was reduced 50% in Q1. After announcing the $35K Tesla, it was almost immediately discontinued. The S and X Model have not had a redesign since they were introduced.
It’ll bounce back very soon. This is a perfect time to buy tho.
Wow shocker. It’s almost like they make junk overpriced POS cars....
FOLLOW US FOR FREE FOREX SIGNALS abl_fx
I wonder if it has anything to do with donating to Republicans?
How/why is this still a viable product?
no shit
Well yeah. Without government subsidies they’d be gone already
Tesla’s selling points were: unique in the market, quirky company and fast as hell. But now that they are no longer unique (see other electric cars), that the novelty of the quirkinesses has worn off the only thing left is fast as hell. Fast as hell is cool, but they need more.
Maybe if their cost was lower, more people would buy....
And why do u want one again jdshul01 ? 🤔🤔
I hate the man but I love the car. Please let this business stay afloat in 5 or so years when I’m actually ready to invest in a tesla
😅
giustin0 o sheeet
since the tax credit ended
OsborneP94
Why is the stock worth money ? Big lost of money each quarter , massive debt vs assets ratio on its balance sheets .
that's what you get for blogging about anime, Elon Shmuck
Yep. I was listening. 😢
You fuckers don’t see 4.5 billion revenue? Idiots. I personally hate Elon musk and the billionaire class but if anyone misses that revenue figure they aren’t serious
The company has never made a profit. It relies on government grants. It’s a joke.
Time for Apple to buy Tesla
Just an excuse to jack up the price even higher🤔
$702 Million loss. Dang that hurts!!
Doubt elonmusk gives a shit as Tesla isn’t a short term brand. He’s also plotting to put people on Mars. I do NOT see anyone else trying.
It's valued at 50 Billion, they are building and expanding, earnings will come later .. if I was worth 500 loosing 2.5 to expand in a year is actually an excellent situation to be in
Did you know it looked like T series
Burning cars, burning business and more targets missed, Tesla needs to raise another $ 3 billlion still no profits
What’s up. Government green subsidies you were mining run out?
In understanding societies electric cars are more polutant than gas cars. For a gallon of gas to be burned in a distant powerplant & all the power losses electric car goes less than a mile while gas car run cleaner & at least 25 miles. EV is doomed to lose it's fake clean base.
“Tesla finished the quarter with US$768 million in customer deposits, holding fairly steady relative to the US$793 million at the end of last year.” Not demand falling off the cliff. Out of context and in accurate article
I freak when I lose at $5. This I can only imagine.
Absolute value
Is this bad?
But how was the tax return?
Please go to Tesla website and read the reports yourself and get first hand information. Public need to be aware of how ad dollars and non disclosed agenda drives publication to publish distorted facts and that poisons society.
Wikipedia on CEO of Henry Blodget : 2003, he was charged with civil securities fraud by the U.S. Securities and Exchange Commission.[7] He agreed to a permanent ban from the securities industry and paid a $2 million fine plus a $2 million disgorgement.[2]
The fact that people still call this 'clickbait' is what worries me. People need to start seeing the US mainstream media for what they REALLY are.... THIS IS NOT CLICKBAIT! THEY HAVE A CLEAR AGENDA!!!
I’ve been shorting this stock since December 18’ ! Thank you musk for your continued malignant narcissistic personality and the continued profits ! LoL 😂
This dude has got to reading this..
Well no shit. You seen the prices on them cars? Everybody that could afford them...already fucking has them.
Jeep
jappadog 😂
Hmmmm... Still gotta give tesla little More Time before I pull the plug.
Imagine they reported on Amazon like this? It took almost 20 years of negative growth. Ah but Bezo's is a comrade. Musk is a Free born individual. And people like him cannot be admired in a socialist society. cdnpoli onpoli TOpoli
kevincorke Rich people not getting enough taxpayers credit to buy? Just another sacred cow in DC.
_kevinquintero
Sell the technology to the Big 3 and other automakers.
elonmusk Tesla you guys should start making scions. They are WAY better cars. I’ve done better with dates in scions too. I can provide u stats
In elonmusk we trust
This is GOOD for Tesla blockchain
Abysmal LOL
Please please don’t give up elonmusk. You’re an inspiration to me and your work is incredible in the automobile and space industry.
And you wanna be my latex salesman!? 🤷🏻♂️
Ouch
Not overly concerning as long as they fix the issues. This company is undergoing exponential growth.
The Tesla peak of 2018 is obvious, the decline is consistent. The body styling is stale, the interiors poor, the battery life not per spec, & the innovation non existent. The low price point & squeezed margin is going to spell disaster for this company. A take over target for GM
Not at all. Reduction in S/X was for retooling now spooling back up. Model 3 deliveries down because so many were in transit to Europe and China. If they are on a boat for 6 weeks that is a lot out of any quarter. Outselling anything in Norway Switzerland
RamLover69
Lol abysmal? This looks like some unbiased journalism
Beginning of an end
I wonder how they are going to handle the competition once the major automakers start selling competitive all electric vehicles. My Ford, plug-in hybrid is getting 130 miles per gallon
Good
How do you stay open as a business when you lose 700 mill in a quarter lol mind boggling
The new hip-hop single released by elonmusk doesn't seem to be doing tesla any justice. Welcome to the zoo, i think it was, or something along those lines.
The next delorean
Not claiming direct comparison here - but growing and taking market share ain’t cheap.
Everybody that whines about Tesla not being profitable forgets that Amazon didn't turn a profit until like 20 years into its existence.
Rich people problems!
Are people still surprised by elonmusk's Tesla failing? They're Hotwheels cars that destroy the environment more than any other vehicle and they have only survived up until now because of billions in gov. grants. lol The company has lost money every quarter. Stick with SpaceX
elonmusk things like this take time for an ‘intelligent’ species to “understand” why people just do things to survive Tesla’s roll forward probably by the power of the sun one day, it’ll be worth the investment for, at the minimum, a solar-powered wagon :) cool
Godamn you joerogan
Waiting for $420
Aoc
Elon right now....
Close it down
Aw, tax break for the rich $Tslaq is suffering?
that money went into genetically modified catgirls
In other news, Exxon is still an excellent stock to own.
Go Tesla go. It’s just a bump. I always believe in you. I’m holding your stock as well.
That's not so bad considering they provide something actually usable, unlike Netflix who is $3 Billion over budget for shows & documentaries that just keep us inside being lazy
Your car is cheap to manufacture , make the msrp reflect that. Your alienating a lot of potential customers.
Naw. Y'all ain't felt them yet is all🤗.
The United States lost $3.9B last year in the post office which is a dying industry. We’re only investing In the future with Tesla. Energy is disruption. By 2025 all gas powered cars will be essentially gone from production.
Now Musks proclamation about self driving cars makes more sense. Ease the blow of a bad quarter. Fuck it, at this point, we need a T$ buy back of cars in cities and a T$ put into producing electrics to trade rural Americans. Car culture as a way of life must end tho.
Lol
It’s only first quarter tho......
There’s absolutely no substance in this trash article 😂😂😂😂 Journalism has gone to the gutter and Graham should be embarrassed 😂😂😂😂 it’s all about click bait and ad rev and he got it done with a dramatic headline!
Lol
They should sell their tech to other car companies. They don't have to make their own cars and worry about shipping them. A Toyota Prius upgraded with self driving tech would sell incredibly well.
I bough a Maserati.
sentiment bot doesn't need to see this one
Come on elonmusk do a special like teslaforteachers financing. Teachers would really be happy replacing their 99 Toyota Corollas. Teacher appreciation week is coming up!
There is no that’s fucked button
Buy buy buy. To the moon baby. Lambo soon.
Puts the company in a perfect position to place 1,000,000 driverless cars into service next year (not)
Time for elonmusk to call it a day with Tesla and put all his energy into SpaceX. Good try. Maybe we will get a Back To The Future remake out of it someday using Teslas.
elonmusk The population isn’t birthing enough new citizens to replace the death rates at this point. I think that any type of technology will eventually plateau like Apple, when most customers already have a car that goes from point A to point B or just hitch a ride with friend
Damn Elon!!! You got to roll out the full autonomy before these Hoosiers blow shit out of proportion lol. I don’t know if people understand the blmonitary value of Tesla’s future asset. Is there a way to quantify that? It’s like IP but in Tesla’s case it’s data driven autonomy
Define 'loss'. Seriously is all of it really lost money, or is it expenses, they could have spent a ton in manufacturing m3, building chip etc Simply calling it loss doesn't help, gives us some breakdown/analysis..
Building a brand costs cash. This dude will be fine
That sucks🤦🏾♂️we need electrical cars more then ever🌋
Me too
Lol! Remind me again which auto company is going to make it through the next economic downturn...
I needed a supply chain case study and I just got one. Thank you elonmusk
Disrupting the auto industry status quo is an uphill battle, but it’s a battle worth fighting. CleanEnergyWillWin
elonmusk has created an unbelievable product. Just need to figure out how to sell more. I would love for my next car to be a Tesla!
Uh yea cuz News Flash: Nobody can afford that shit.
Why doesn't Tesla just supply electric powertrains to the big assemblers that can actually deliver?
All the people who can afford them already own one.
The writer at BI must be short TSLA
Because everybody who can afford it bought one already lol
🥴
Lol
This is like posting that the United States had an abysmal quarter. Budget deficit does not equal loss nessesssarily. With the expansionary model they have it likely means they are shifting to physical assets. businessoutsider
I think if they bring on more reasonably priced models they can bounce back. The model S and X fully loaded both exceed the 100k mark.
Mouths writing checks their business can’t cash.
They're bound to make a mistake sometimes. Tesla still has an excellent brand!
Honestly, I think that tiny submarine debacle etc etc might have cooled the field. And the exploding car thing.
BUT that GOPtaxScam bill tho🤷🏾
sydneylkaster He looks camper(not a bad thing!) than David Walliams.
HAHAHAHAHAHA 🤣🖕💩 tesla
Change the logo. It’s red. Change it to black and white.
That's what happens when a man child runs a company
Bro hold this icyweiner11
It’s because of his anime profile picture
Elon Musk be like “Calm Down clam down your money is save Mars I invested it on Tesla Bank of Mars”
So what. Tesla is our inevitable future. People should be grateful that someone else is pioneering the hard work. The price of innovation and advancement is not zero sum.
Piece of advice, stop taking too many projects at once. Finish what you start before you jump on a new venture. It’s a shame if it all fails bc it’s simply too much. It doesn’t take a genius to figure this out. Telsa
tesla is the yeezy of cars
im_culturevator
Just launch a rocket up again sales will pick up from the government
Kevin_M_Seconds How can anyone believe their guidance after this?
Yeah in other words CEO gets all the money
Well at least have $7M to lose I still can't believe it's not butter
Stugotz790 called it.
Oh yea with a discount I want the best one out
Tesla would communicate with terrafugia I think the possbilty might be impressionable
Bullish
I never worry, there’s always a plan 🧘🏼♀️
That's what happens when you build cars that people don't want to buy
Lol. Hyperbole much.
Here’s an idea: make your cars less expensive, and have them ready to sell when customers want them. How does that sound?
simple reason, too expensive! Please compare it with Porsche! Tesla did well already in that price range, solution is either reduce price , either improve quality and battery range and much better add on services, make people feel it worth to buy
Sounds like some BS to close in some areas. I see that 'less expensive' model everywhere.
Pathetic. I guarantee I could do a better job running that company
Electric leaf blower will get this bk on track🤔
Don't listen to main stream media listen to this live webcast of Tesla. It begins from 14:35
Buy stock in Tesla rn
Delivery overseas will become more streamlined, and once FSD is more common and Robotaxi is happening, it will all come together. Not worried. ThinkLongTerm
Now that ship has sailed. Buying a 6.7-liter Power Stroke turbo Diesel and deleting the DEF and DPF
Business insider just wants to bash Tesla and Elon. I'm personally, sick and tired of seeing it. Weak media.
At over $80K the X and S are geared towards a very limited audience.
One of them had $699.9m in the trunk
It's because they 'charge' too much 😀
$tsla growth company brah!
Got a 3, want an X or an S but they’re just too expensive. 🥺 elonmusk
Just a lil bump. Not worried at all :)
Tesla would thrive in the traditional dealer to customer model.
It is isn’t always easy, innovations and advancements aren’t always cheap and infrastructure wasn’t always enough. See the early days of trains or even cars before highways.
Mmmmm lookit all of those buzzwords
Help him ship them out
I have met several people who wanted to order a new Tesla through their own bank with a certified check (keep in mind - 100% prepaid) for the entire cost of the vehicle, and the Tesla dealer can’t take their order because they ant process a 100% payment. Tesla losingmoney
Doesn’t help that they fail to deliver the spec offered to their customer. Still waiting on my Enhanced Autopilot.
Then elonmusk starts retrofitting cargo ships with Tesla motors 🤷♂️
That's terrible to hear.
Dunno I still love the shit out of the cat
Perhaps because they are not that inspiring a car, just the first with a big iPad on the dash.
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