Tesla posts bigger-than-expected loss, bigger-than-expected revenue [Updated]

However, during the call, Musk assured investors that no new capital expenditures were expected. He also said Tesla is comfortable with cash. “Do we have a low bank balance? The answer is no.” We don't have any cash shortages,” Musk said on Wednesday. He added that he was “very confident of positive cash flow and net income in the third and fourth quarters.”

“It could be force majeure“Like an earthquake or a massive recession, but without it…” Tesla will be able to achieve its targets, Musk said.

These production figures

While the dollar signs in Tesla's Q2 2018 financial report weren't much to cheer about, investors were apparently encouraged by Tesla's production performance. Last week, Tesla shipped 7,000 Model S, X and 3 vehicles from its Fremont, California, plant to customers, according to a financial report. That happened “multiple times” in July with 5,000 Model 3s and 2,000 Models S and Xs, the company said.

During the third quarter, Tesla forecast several times that it would produce 6,000 Model 3 vehicles per week “while maintaining additional capital expenditures.” [capital expenditure] limited.” This is important for investors who saw the company burn cash during the Model 3 launch and are looking forward to some profits from the fast-growing company. Tesla plans to produce between 50,000 and 53,000 Model 3s in the third quarter.

The financial report added that Tesla will be able to produce 10,000 Model 3s sometime next year.

However, one criticism of these Model 3 numbers is that Tesla is not producing the low-cost Model 3s it promised years ago. Model 3s delivered so far have been $49,000 or $79,000 high-performance versions with longer batteries or all-wheel drive. The $35,000 car that was supposed to be the Model 3 still hasn't arrived.