Tesla loss grows as it falls short of sales goals

Tesla delivered 14,402 vehicles in the second quarter, below its goal of 17,000.

“We were in production for the first six months of this year – man, it was hell”, chief executive Elon Musk said on the company’s investors’ call. Production issues, however, caused the company to miss goals for the second quarter in a row.

For the first time in years, no one really has any expectations from Tesla as the company prepares to report second-quarter earnings on Wednesday after the markets close.

Musk originally gave a rough estimate of $400-500 million in revenue for Tesla Energy during the year, but now it looks like it’s been revised to account for production constraints.

The Model 3 beefs up a Tesla lineup that includes the Tesla Model S sedan and Model X SUV.

Shares of the company, which has offered to buy SolarCity for .6 billion, were little changed in after-hours trading.

Tesla on Wednesday said 5,150 vehicles were still in transit at the end of the quarter and would be delivered early in the third quarter. With these improvements, Tesla stated it is on track to deliver 50,000 vehicles in the latter half of this year, which reaffirms its previous guidance.

They aim to increase that weekly figure to 2,200 by the end of the third quarter, and 2,400 by December 31.

Oops! This makes us think now – was the model naming intentional by Tesla to read as “SEXY”.

Also during the quarter, Tesla announced its intention to merge with solar panel company SolarCity Corp., which is chaired by Musk and run by his cousins. The Model Y could cost even less than the Model 3, but seeing as it is placed higher up in the S-3-X-Y lineup, I seriously doubt that is going to be the case.

“When all of that’s lumped together, (it) can be confusing”. It aims to further increase the production and reach 2,400 vehicles per week in the fourth quarter. Model 3 is billed as Tesla’s first mass-market electric auto, with an expected sale price of only $35,000, less than half that of its Model S.

Musk described the Tesla Semi in his updated Master Plan, promising to reduce the cost of cargo transportation while also improving safety and making it fun to drive.

What people do want to know is whether the 2018 Tesla Model Y is going to have the falcon wing doors and would it be better off without them.

Tesla Motors Inc (NASDAQ:TSLA) goes through a lot of cash and has a lot of plans right here in 2022 including that Gigafactory and a couple of new models.