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Tesla did not have to welcome his quarterly report with a big smile. Yet the automaker has broken a record over the last three months, with 95,200 vehicles found, making it better than the 90,700 models delivered in Q4 2018. On Wednesday, Elon Musk's company announced that it has registered a turnover increase, logically, but also and especially losses even larger than expected, because of low margins.
Some sun rays for Tesla
The turnover has increased from 4.5 billion in the first quarter to 2019 6.35 billion in the second, a nice increase of 40 %, which can be largely put to the credit of the Model Sales 3, whose prices have just dropped, which equates to 80% of sales.
Another positive sign for Tesla: the increase in its cash. At the close of its second quarter, it reached its all-time high with reserves climbing to five billion dollars. The US firm generated a free cash flow of $ 614 million over the period, after losing $ 920 million in the prior quarter.
Losses that remain very high
But these positive figures are to be offset by the losses of the group, which reached $ 408 million over the last three months, or $ 2.31 per share. In the first quarter, Tesla had already widened its losses by $ 700 million. Analysts were expecting a much weaker result and higher turnover. The company thinks that it can reach equilibrium by the end of the year.
Now place in the second half. For this one, Tesla has great ambitions. With Elon Musk still thinking of selling 400,000 vehicles in 2019, he will have to sell more than 100,000 units in each of the next two quarters. To optimize your finances, Tesla counts continue to reduce its production costs.
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