November 2, 2017

Tesla: A Massive $619 Million Quarterly Loss Isn't The Company's Only Bad News

Tesla.  Wouldn't want to be ya.
  • Massive quarterly loss of $619 million big ones.  Check.

  • Continued production problems.  Check.

  • A wee bit of a backlog order problem:  435,000 Model 3 vehicles are on back order.  At its current Model 3 production rate - 260 whole Model 3 vehicles were produced in the 3rd quarter of this year - Tesla will require more than 418 years to fulfill current Model 3 orders. And that time frame doesn't take into account the 1800 additional Model 3 orders, give or take, Tesla is currently receiving.  Each day.

  • Yet new "promises" about future weekly production units.  Check.
Ok, so what else could possibly go wrong?

Well, you know that $7500 federal tax credit for purchasing an electric automobile ... that tax credit that helps drive electric vehicle sales?  Well, it's scheduled to be eliminated - immediately - if the House version of the tax reform act making its way through Congress is passed.

Learn more by reading this Reuters article.

Mary Rae Fouts

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