Tesla's controversial chief defines 2018 as "the heaviest," but in a letter to the markets that accompany the results of the fourth and last quarter, issued Wednesday night, the lead electric car manufacturer favors the adjective: "essential." And that may also be due to a car that is worth delivering, Model 3, but it has helped Californian companies to end the year in beauty: revenue has risen, quarter-on-quarter profit (that's only a fourth time), stable range, cash flow to climb and model bonus "This is the first time in many decades when the US manufacturer has managed to keep this first place," the letter said.
In financial terms, the expectation of most optimistic market analysts does not reach the outcome. And the company's price, which climbed slightly more than 3% on Wednesday, immediately reflected this result and dropped by 2% during the first minutes after Wall Street was closed.
Compared to the quarterly accounts reported in October 2018, the end of the year allowed revenue from sales of cars to increase by $ 230 million from $ 6098 million to $ 6323 million. This is an increase of 4% in succession, but on the basis of a similar result, the result is projected to 134%, compared with 2700 million in the last quarter of 2017.
Including other business lines (energy, batteries and services), the total revenue was $ 7225 million, or more than $ 400 million, compared to $ 6,824 million in the previous quarter.
The margin has fallen from 25.5% in the third quarter of 2018 to 24.7%, reflecting the company's growth pain, which last year was two redundancies – the latest in December – by 91,000 cars in the quarter, or 63,359 model 3 will appear on the European market in February.
Though the market expected another quarter of the gains in terms of released indicators – $ 139 million (311 million in the previous quarter) – this announcement of results was highly anticipated because within a month Tesla sees a $ 920 million bond issue was launched in 2014.
It is the biggest debt that Tesla has ever faced. But according to this letter, shareholders and investors can stay easy. "We have enough money to settle the liabilities to be due in March 2019," says the results report.
From the executed accounts, the company sold approximately 140,000 models in the US in 2018, which is more than 115,000 Lexus RXs second, the large distance of Audi Q5 and Mercedes GLC, which sold approximately 70,000 units. Tesla notes that it alone ensures the growth of the domestic electric vehicle market, which is still only 2% of the volume, but for the first time in the fourth quarter of 2018, sales of 100% of the electricity flow over US hybrid sales have been achieved.
It follows that in the USA the electric propulsion vehicle relatively easily defeats old middle-to-high-range drivers with an internal combustion engine. By 2019, the question is whether Tesla manages this advantage without a tax credit that the government in Washington has decided to cut this year by 50%.
By the end of 2019, Tesla expects Model 3 to be built in China in the Giga 3 factory, which is under construction in Shanghai. It is a high investment that the company has become accustomed to, and typical of automakers built 15 years ago. In 2018, the investment reached $ 2240 million.
In order to satisfy domestic demand as well as the first customers of the European model 3, we expect the Freemont factory to produce 7,000 units per week.