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Tesla promises to be profitable in 2019 after mixed results

Tesla announced mixed results Wednesday, pledging to be profitable every quarter in 2019 despite the reduction in tax credits granted by electric vehicles by the US government.

The manufacturer of electric vehicles also ensures that there will be solid doors to meet the inevitable $ 920 million and that they will not have to repay the financial markets again. The index was $ 3.7 billion as of December 31.

"We have enough money by hand to get them back" bondholders with maturity in March, said CEO Elon Musk and Chief Financial Officer Deepak Ahuja in a letter to the shareholders.

The drop in green bonuses was measured in demand for branded cars, which returned to green in the fourth quarter of 2018, generating $ 139.48 million from a loss of $ 675.3 million in the same period of 2017.

This, however, is significantly less than $ 311.16 million earned in the third quarter. A share report tailor-made for exceptional items, the profit of an electric vehicle manufacturer, batteries and solar panels has reached just $ 1.93 in the past three months, compared to $ 2.19, which is expected on average by analysts.

Turnover rose more than double to 7.2 billion dollars thanks to the sale of a new vehicle, the 3 model, which Tesla was supposed to make as a mass-market maker. It is higher than predicted 7.07 billion.

Electric pickup this summer

Tesla, which recently decided to cut more than 3,000 jobs (7% of its workforce) to save money and remain competitive against Audi, Porsche and Jaguar, intends to deliver between 360,000 and 400,000 cars this year, a forecast slightly lower of the expected investors. This is between 47% and 63% more than in 2018 (245,000 units).

"Global demand for model 3 at a time of economic growth is 700 to 800,000 units per year, but in a recession it is 40% less", said Elon Musk, confirming that Tesla will be presented "Middle Year" cheaper version of this car, whose basic price currently stands at $ 44,000.

The manufacturer also plans to present the electric pickup this summer.

The demand for cars Tesla – Model C, Model X and Model 3 – caring markets by cars has cut prices to limit the impact of sales on January 1, reducing the 7.500 US federal tax credits from $ 3,750.

Faced with these suspicions, the group presented the road map it would publish "Very Small" profit in the first quarter because it expects to deliver a limited number of cars during this period due to an upset associated with the first sale of the Model 3 in Europe and China.

Once the past time of adaptation, "We are striving for net profit and a positive cash flow for each quarter in 2019"says Tesla, who also relies on his extensive restructuring to achieve this goal.

The savings package should save $ 400 million a year.

Tesla, which just opened a gigantic battery factory in China, intends to accelerate the production of Model 3 after 2018 "Tough" marked by bottlenecks that made his boss sleep at the factory.

It hopes that between the fourth quarter of 2019 and the second quarter of 2020 it will reach 500,000 "Model 3" per year.

In the United States, the production of the Model 3 increased in the fourth quarter and is expected to reach 7,000 units a week from the end of the year. On this figure, it will be necessary to add 3,000 copies a week to the Chinese factory, which will lead to a total of 10,000 initial targets that stopped Tesla.

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