Tesla posted mixed results on Wednesday and promised to make every quarter a profit in 2019 despite the cuts in US tax credits for electric vehicles.
The electric vehicle manufacturer has also ensured that he will have a fixed backpack to immediately meet $ 920 million and he will not have to re-engage with the financial markets again. As of December 31, the cash was $ 3.7 billion.
"We have enough cash to repay" bondholders maturing in March, said CEO Elon Musk and Chief Financial Officer Deepak Ahuja in a letter to shareholders.
The decline in green bonuses considered the demand for branded cars that returned to greenery in the fourth quarter of 2018, reaching $ 139.48 million in the same period in 2017 from a loss of $ 675.3 million.
This is, however, significantly less than 311.16 million earned in the third quarter. Shared and adjusted for extraordinary items, the gain of the manufacturer of electric vehicles, batteries and solar panels has reached only $ 1.93 in the last three months, while analysts estimate an average of $ 2.19.
Turnover has more than doubled to $ 7.2 billion thanks to the launch of a new model 3 model to produce Tesla. It is higher than the expected 7.07 billion.
Electric pickup this summer
Tesla, which has recently decided to cut more than 3,000 jobs (7% of its workforce) to save money and remain competitive with Audi, Porsche and Jaguar, plans to ship between 360,000 and 400,000 vehicles this year. This is between 47% and 63% more than in 2018 (245,000 units).
"Global demand for Model 3 at economic growth is between 700 and 800,000 units per year, but in recession it is 40% less", said Elon Musk, confirming that Tesla would take it "Mid-term" cheaper version of this car, whose base price is currently $ 44,000.
The manufacturer also plans to detect an electric sensor in the summer.
Demand for Tesla – model S, model X and model 3 – market concern for car maker cuts prices to reduce the impact on sales from 1 January to a federal tax credit of $ 7,500 to $ 3,750.
Faced with these doubts, the group presented a plan to release and "Very small" profit in the first quarter, as it expects to provide a limited number of cars for that time due to harassment associated with the first sale of Model 3 in Europe and China.
After the adaptation time, "We are focusing on net income and positive cash flow for each quarter in 2019"says Tesla, who also relies on his extensive restructuring to achieve this goal.
The budget package should save him $ 400 million a year.
Tesla, who just opened a giant battery factory in China, plans to accelerate the production of Model 3 after 2018 "Difficult" characterized by the obstacles that led his boss to sleep in the factory.
It hopes to reach a production level of 500,000 between the fourth quarter of 2019 and the second quarter of 2020 "Model 3" per year.
In the United States, production of Model 3 has increased in the fourth quarter and is expected to reach 7,000 units per week from the end of the year. To this figure, it will be necessary to add a Chinese factory of 3,000 copies per week, which will increase the initial target set by Tesla to 10,000.