Tesla's Second-Quarter Losses Deepen
Tesla Inc. more than doubled revenue to $2.8 billion in the second quarter. But the company’s net loss expanded to $336 million from $239 million.
#economics
Tesla Inc. more than doubled revenue to $2.8 billion in the second quarter. But the company’s net loss expanded to $336 million from $239 million. Both figures were better than analysts expected.
Deliveries of Tesla’s pricy Model S sedan and Model X crossover in April-June climbed 53% to 22,000 units. The carmaker predicts demand for both models will top the 47,000 units it sold in the first half of 2017.
The increased quarterly loss reflects the cost of launching Tesla’s first moderately priced model, the $44,000 Model S. A $35,000 base-price version will go into production later this year.
RELATED CONTENT
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.