The start-up has also announced it will unveil the highly anticipated “Model 3” mid-range on 31 March.
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Tesla-the American automotive company that designs, manufactures, and sells luxury electric cars-has changed the way we view transportation.
In the fourth quarter, the company’s loss was $320 million, compared with a loss of $108 million in the fourth quarter of 2014.
Tesla had been expected to post adjusted earnings per share (EPS) of $0.10, with revenues of $1.81 billion, according to analyst estimates on Bloomberg.
The auto maker expects to deliver 80,000-90,000 new Model S and Model X vehicles in 2016, above the 76,200 vehicles expected by Street analysts.
“While outlook is not unachievable, it does rely on meaningful acceleration of both Model X and total deliveries”, RBC Capital Markets analyst Joseph Spak said.
There’s also the Model 3 to look forward to.
Styling, price and a realistic driving range beyond 300km will be essential if Tesla’s Model 3 is to remain competitive against Chevrolet’s all-new Bolt, the first model built on GM’s new electric vehicle platform.
Musk and the company’s new chief financial officer, Jason Wheeler, used a conference call yesterday evening to assure investors that Tesla is determined to cut costs, hit production targets and stanch losses.
One of the key takeaways from Tesla Motors Inc (NASDAQ:TSLA) was that it generated positive core operational cash flow of $179 million in the fourth quarter. At some point – though Musk was quick to say that there’d be no forecasting when it would occur – Tesla is expecting another period of exponential growth. The company delivered only 206 SUVs in the fourth quarter and it curtailed production last month to work out some quality issues.
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Preparation is underway for production, with Tesla indicating that it will start building battery cells at its “Gigafactory” in Nevada – a joint venture with Panasonic – this year. “I think it will be well received, and then getting into production and delivery at the end of next year”. Investors hold concerns about the initial sales of company’s latest Model X, as well as the planned projections for its soon-to-be unveiled Model 3 sedan.
