Tesla Posts a Record $671 Million Loss In Q3

Tesla Inc. posted a $671 million loss for the third quarter -- its largest ever quarterly deficit -- dropping from a $22 million net profit recorded for the same period last year. <p>The electric-vehicle company attributed the loss to ramping up Model 3, pushing back its timeline of producing 5,000 Model 3 vehicles a week from the fourth quarter of this year to the first quarter of 2018. The company cited the battery assembly line at its Nevada Gigafactory as the primary constraint in Model 3 production, adding that it will reduce Model S and Model X production by 10 percent in the fourth quarter to move inventory and dedicate more manpower to Model 3 production.</p>
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Dutchman - 11/2/2017 10:19:32 AM

+3 Boost

Read the article. Outside of all the other problems ie $671 million Q3 loss, huge layoffs, bond sale when in 2017 Musk said they wouldn’t need it, 260 total model 3s built thru Oct 2...but the one that’s really rich is Elon the environmental savior is wanting to open a giga factory in China. No pollution issues there huh Elon!

GermanNut - 11/2/2017 10:43:46 AM

+2 Boost

A $671 million loss and a large miss on the number of Model 3s built. Tesla needs to ramp up production ASAP!!!

supermoto - 11/2/2017 11:21:46 AM

0 Boost

I wonder which company will buy Tesla's IP when it gets liquidated a year from now?

TheSteve - 11/2/2017 3:57:22 PM

+3 Boost

I'm curious how Telsa's next stock offering will go, or whether the days of "Tesla Can Do No Wrong" beliefs are numbered.