This is due to the rapid growth of expenses of the company.
The American automaker Tesla Motors increased its net loss in the first quarter of 2017, 40%. This is due to the rapid growth of costs. The company’s revenue has more than doubled.
Tesla’s net loss in January-March amounted to $397,2 million, or $2,04 per share, compared with a loss of $283 million, or $2,13 per share, for the same period a year earlier. Adjusted loss was $1.33 per share against USD 1.46 a year earlier, while analysts surveyed by Thomson Reuters predicted a loss level of only $0,81 a share.
In an address to shareholders, CEO Elon Musk expressed confidence that the serial production of the sedan Tesla Model 3 will commence in strict compliance with the schedule, that is in July. The yield on the commercial volumes are still expected before the end of September.
Tesla has already received more than 400 thousand pre-orders for the “budget” Model 3 starting price which is $35 thousand, and orders continue to come in.
Quarterly revenues automaker jumped to $2.7 billion with expected growth to $2,61 billion.
Sales of Model S sedans and Model X SUVs grew in January-March of 69%, to about 25 thousand – a new record in the history of the company. Revenue of automotive business soared by 123% to $2.3 billion units of solar energy – 841% to $213,9 million
For 2017, Tesla hopes to bring the production Model approximately 3 to 5 thousand a week for 2018 is expected to increase to 10 thousand in a week, says the appeal of the company to the shareholders.
The company still expects to increase the combined production volume of 84 thousand cars last year to 500 thousand in 2018 and 1 million in 2020.
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