It's not surprising that we're seeing a Q2 loss from Tesla, Lebeaucarnews reports, but the loss was bigger than expected. Here’s what Tesla reported:
Here's what Tesla reported, versus what analysts expected based on average estimates compiled by Refinitiv:Revenue: $6.35 billion versus $6.41 billion expected
Tesla delivered around 158,200 of its cars to customers in the first six months of 2019. It has to deliver more than 200,000 in the back half of the year to hit the low-end of its guidance. The company says it has a weekly run-rate of 7,000 Model 3 vehicles, and aims to be able to produce 10,000 Model 3s weekly by the end of 2019., it plans to improve production at its existing factories including a battery plant outside of Reno, Nevada and a car assembly in Fremont, California.
The company blamed a decline in the average sales price of its vehicles during the second quarter on the roll out of its Model 3 Standard Range Plus during the second quarter, and sales of inventory Model S and Model X vehicles that lacked an upgraded powertrain, which gives the cars the ability to drive further on a single charge.
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