Tesla's First 2019 Quarter Didn't Go So Well
Yesterday was not a great day for Tesla as the company announced their first-quarter earnings results and overall Tesla lost $702 Million this first quarter.
Than substantial loss of money caused the stock to drop by $4.10 per share. Compared to Tesla's first quarter in 2018 this is a significant change. One of the primary reasons for the loss in money was Tesla paid off a hefty $920 Million bond back in March.
This doesn't appear to be a bad sign for Tesla thought as the company is still generating a large amount of cash flow. Tesla brought in $4.45 Billion in this quarter, though that is below the estimates by investors.
Tesla sold 31% fewer vehicles int he first quarter than previous ones, but Tesla has plans to re-release the $35,000 Model 3 which could help increase those numbers as people interested in the lower cost Tesla can buy in.
Next quarter Tesla is expecting to produce between 90,000 and 100,000 vehicles, that's 63,000 more than the first quarter. That's a considerable increase in production.
This past week Tesla also released an updated version of the Model S & X with longer-lasting batteries and more extended range which could interest customers to upgrade or buy a new Tesla.