久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Motoring

Tesla misses financial targets, pushes back profit forecast

China Daily | Updated: 2019-07-29 11:13
Share
Share - WeChat
People examine a Tesla model at the Guangzhou auto show in November 2018. [Photo by Li Fusheng/China Daily]

SAN FRANCISCO - Tesla Inc on Wednesday pushed back its profit timeline once again after missing financial targets in the second quarter, while announcing that the pioneer of the company's electric batteries, J.B. Straubel, was stepping down from his role as chief technology officer.

A quarterly loss was deeper than expected, and despite record deliveries in the quarter, revenue came in lighter than analysts' expectations. Moreover, margins narrowed in the quarter, adding to Tesla's challenges in delivering profit going forward.

Under pressure to meet his repeated promises to make Tesla sustainably profitable, Chief Executive Elon Musk is trying to contain costs while still spending on major initiatives from a Shanghai factory and assembly-line to upcoming models such as the Model Y SUV and a semi commercial truck.

Tesla initially promised to be profitable in the third quarter of 2018 and has now pushed back that target multiple times. Now profit is expected in the fourth quarter of 2019, with the current quarter to be break-even, Musk said.

In a statement on Wednesday, Tesla said it was focusing less on profit and more on volume growth, capacity expansion and cash generation.

Musk said the company had grown to the point of "being self-funding", indicating he might not need another cash infusion following a record-setting capital raising earlier this year.

Tesla said on Wednesday it had trimmed its capital expenditure target for 2019 to $1.5 billion to $2 billion, from $2 billion to $2.5 billion. It ended the quarter with $5 billion in cash and cash equivalents.

Tasked with Tesla's groundbreaking battery technology since Tesla's early beginnings, Straubel directed the development of the audacious plan to make a sports car powered by bundled laptop batteries.

The quiet, retiring Straubel has been seen as a good partner for showy Musk.

Straubel had been the last senior executive of long-standing at the very top rank of the company to remain at Tesla.

Even while growing, Tesla has laid off workers and pledged to close some stores to lower costs.

Facing increased competition from a slew of European rivals with electric offerings, it has also tinkered with its pricing.

Most recently, it eliminated the least expensive versions of its Model S sedan and Model X SUV, while cutting the starting price of its Model 3 to $38,990.

Tesla's strong second-quarter deliveries assuaged doubts about demand for the Model 3, but concerns linger, especially since a federal tax credit was cut by half on July 1 and expires at the end of the year.

Many analysts note that Tesla will be challenged not only to meet its deliveries target of 360,000 to 400,000 vehicles this year, but to keep profit margins from further eroding.

Automotive gross margins dropped in the quarter from 20 percent to 19 percent.

Musk gave bold predictions for the long-term demand for the Model 3 and upcoming Model Y combined, saying that it could reach 2 million vehicles per year.

The company repeated a target of producing 10,000 vehicles per week globally by the end of 2019.

Chief Financial Officer Zachary Kirkhorn said orders in the current quarter were so far higher than those seen in the second quarter.

Reuters

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 一区二区三区视频免费观看 | 国产日韩精品一区在线观看播放 | 亚洲视频综合网 | 成人三级做爰在线视频 | 国产在线日韩在线 | 国产伦精品一区二区三区精品 | 国产伦精品一区二区三区四区 | 亚洲热播| 久久精品国产99久久6动漫欧 | 视频偷拍一级视频在线观看 | 久久久久日韩精品无 | 99久久精品国产一区二区小说 | 久久久久国产精品免费 | 国产精品日韩欧美在线 | 久久精品视频播放 | 在线免费观看日本视频 | 草草影院在线观看 | www.av免费| 亚洲 欧美 精品 中文第三 | 日韩视频观看 | 成人精品一区二区www | 中文字幕曰韩一区二区不卡 | 免费一区二区三区 | 亚洲天堂一区在线 | 看全黄男人和女人视频 | 色播亚洲 | 欧美精品人爱a欧美精品 | 国产第二页 | 亚洲午夜在线播放 | 性欧美一级毛片欧美片 | 国产a∨一区二区三区香蕉小说 | 国内视频一区 | 九草在线观看 | 久久免费激情视频 | 国产精品99久久久久久宅男 | 在线久| 日韩三级中文字幕 | 老司机成人免费精品视频 | 欧美国产91 | 亚洲自拍高清 | 久久精品免费视频观看 |