Oct 06, 5:55 PM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Business By Adam Levine-Weinberg 10/06/19 AT 5:53 PM On the surface, Tesla (NASDAQ:TSLA) had a great third quarter. The company built a record number of vehicles. It also achieved a record number of deliveries, although it fell short of its internal goal of delivering 100,000 vehicles. Finally, Tesla continued to rebuild its order backlog during the period, as orders exceeded deliveries.However, some aspects of Tesla's performance were far less rosy. Demand for the Model S sedan and the Model X crossover -- the electric vehicle pioneer's most lucrative models -- continues to drop off. Furthermore, Tesla reduced the prices of most of its models (again) in July. The resulting decline in its average selling price is making it hard for Tesla to turn a profit, despite its record sales.Tesla's quarter by the numbersOn Wednesday, Tesla updated investors … [Read more...] about Tesla News: Breaking Down The Record Q3 Deliver Results
Tesla q2 earnings
By Shawn M. Carter Published August 20, 2019 Retail FOXBusiness Facebook Twitter Comments Print video SolarCity CEO on the benefit of solar bonds SolarCity CEO Lyndon Rive on offering investors solar bonds. Retail giant Walmart is suing Elon Musk’s electric vehicle and energy company Tesla, saying solar panels supplied by the company apparently caused fires at seven of its stores. Continue Reading Below The fires damaged large amounts of store merchandise and required extensive repairs, according to Reuters, ending in hundreds of thousands of dollars in out-of-pocket losses. MORE ON FOXBUSINESS... ROBOT 'ASSOCIATES' REPORTEDLY HELP WALMART BEAT EARNINGS EXPECTATIONS TESLA SHARES DOWN AFTER Q2 EARNINGS MISS HOW WALMART GAINS FROM FALLING MORTGAGE RATES According to the court filing, Walmart representatives said the fires and subsequent damage is a breach of contract, “arising from years of gross negligence and … [Read more...] about Walmart sues Tesla over fires at seven stores
May 26, 9:14 PM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Business By Adam Levine-Weinberg 05/26/19 AT 9:12 PM Tesla (NASDAQ:TSLA) has been a battleground stock for many years. But for most of 2019 -- and especially the past couple of months -- the news has been almost all bad.As a result, Tesla shares have lost nearly half of their value since mid-December. Last week, the stock broke below the $200 mark for the first time since late 2016. Some Wall Street experts are now saying that Tesla may need to restructure or even declare bankruptcy in the face of falling demand for its electric vehicles.Does this mean that Tesla is doomed? Let's take a look.Demand is saggingWarning signs have been piling up for Tesla investors since the beginning of the year. The first sign that something was amiss was when Tesla implemented multiple price changes for its vehicle lineup during the first quarter. This seemed to suggest … [Read more...] about Is Tesla Doomed?
Apr 25, 4:06 PM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Business By Arthur Villasanta 04/24/19 AT 11:31 PM Tesla’s intractable logistics problem, which means it makes cars only in the United States for shipment to the entire world, badly dented its fiscal first quarter results released Wednesday.The world’s leading maker of electric vehicles (EVs) reported a loss of $702 million in the first quarter of 2019 after recording back-to-back profits for the first time during the third and fourth quarters of 2018. The loss was the company’s fourth-worst quarterly loss since becoming a publicly traded firm in 2010, and was also far larger than analysts’ estimates.That Tesla was headed for a bad Q1 was first revealed in late February when Tesla CEO Elon Musk predicted the company would slide back into the red in the first quarter. This has come to pass but in the worst possible way.“Everyone expected a Q1 … [Read more...] about Tesla Faces ’Most Difficult Logistics Problem,’ Loses $702M In Q1
By Joe Williams Published February 25, 2019 Tesla FOXBusiness Facebook Twitter Comments Print video Tesla in focus after fatal Model S crash in Florida Gerber Kawasaki CEO Ross Gerber and Wall Street Journal automotive reporter Tim Higgins on the concerns surrounding Tesla and how a driver was killed after crashing his 2016 Tesla Model S into a tree in Florida. The Securities and Exchange Commission alleged in a federal filing on Monday that Tesla-founder Elon Musk violated a settlement with the agency when he tweeted in February about the electric carmaker's 2019 production targets. The news sent the company's stock into decline in after-hours trading on Wall Street. Continue Reading Below The tweet stated Tesla would produce 500,000 cars in 2019, a figure Musk later clarified to mean the annualized production rate and said the company would actually ship 400,000 vehicles in the year. The SEC confirmed that the initial tweet … [Read more...] about Tesla’s Elon Musk in violation of SEC settlement, agency alleges