Is Tesla On Its Way To Crashing And Burning? Electric Car Company Posts Huge Losses in 2019
Daily Caller,
by
Tim Pearce
Original Article
Posted By: Pluperfect,
4/26/2019 4:55:53 AM
Tesla’s first quarterly earnings report of 2019 showed the company took a massive financial hit after losing a $7,500 electric vehicle tax credit on Jan. 1, Greentech Media reports. Tesla released its Q1 earnings report Wednesday, showing losses greater than the already pessimistic predictions from analysts. The electric car company posted a $702 million net loss. The negative cash flow is the greatest loss the company has ever posted over one quarter. In conjunction with the deficit, Tesla’s car delivery dropped by 31 percent from 90,700 cars in the last quarter of 2018 to 63,000 cars in the first quarter of 2019.
Reply 1 - Posted by:
Califedup 4/26/2019 6:50:26 AM (No. 68832)
Predictable. Without the massive taxpayer subsidy for each car sold Tesla was and is doomed to go the route of all those solar energy companies which were nothing more than a way to funnel billions of dollars to the democrat communist party greedy crooks.
Electric cars are just another green energy scam to sell to the gullible Save the Planet morons.
Elon Musk is the Jim Jones of the Auto Industry leading his electric car cult to financial suicide.
17 people like this.
Tesla vehicles are safer, faster, easier to drive, more durable and more beautiful than any other car in it´s class. Tesla out sold all comparable cars in the last "bad quarter."
Tesla recently demonstrated fifteen minutes of autonomous driving on city streets. The car has two brains, eight eyes, 12 sonar sensors and radar to make it two to three times safer than a human driver.
4 people like this.
Reply 3 - Posted by:
Chabis 4/26/2019 8:16:51 AM (No. 68828)
Oh goodie! It´s Tesla bashing time! I look forward to the comments by lots of people who never even sat in one -- much less actually driven one.
I do add this request; Please save at least some of your vitriol for Alexa. -Another technology about which totally false and misleading stories abound and that thus scares people silly.
Strike up the band! :)
1 person likes this.
Reply 4 - Posted by:
Strike3 4/26/2019 8:24:36 AM (No. 68837)
General Motors put their eggs in that basket too. They are going down and that dizzy woman who manages them is going to look really silly when she asks for another government bailout.
9 people like this.
Reply 5 - Posted by:
jacksin5 4/26/2019 9:02:39 AM (No. 68838)
I buy what I can afford, that suits my needs. Therefore, I have a flip phone, cause I don´t require a 24/7 access to the internet, and a used Rav 4, because it was affordable, and could carry the payload I desire.
Tesla is nice, so is Mercedes, or Jaguar. But not for me.
4 people like this.
Reply 6 - Posted by:
Bazi 4/26/2019 9:37:00 AM (No. 68829)
Okay. I´ll bite and bash Teslas. I live in the DC area where they are prolific and are the ultimate in virtue signaling. Their vanity plates express their coal powered superiority over the rest of us gas guzzling slobs. Naturally, Tesla is also vegan friendly. The seats are made of pleather: which is made from...oil. Eye roll.
My 2018 Volvo is very safe, has sonar, radar, Pilot Assist, a 360° camera, it tells me here all the speed cameras are(very useful around here) ....and it does not look demonic.
That being said, I can live with the virtue signaling Teslas. It´s the brazen bicyclists that make me want to tear my hair out.
2 people like this.
Reply 7 - Posted by:
jfodoch 4/26/2019 10:37:00 AM (No. 68826)
Bottom line: Except for the emotional/irrational appeal, why would anyone want one?
0 people like this.
Reply 8 - Posted by:
VietVet68 4/26/2019 11:43:38 AM (No. 68836)
The comments here re interesting but aside from the first comment most miss the point. Investors look at cold hard facts and the fact is...a car company can´t last if it never makes a profit, pure and simple.
Without subsidies the cost of an electric car becomes even more prohibitive so as far as I see it the countdown to Tesla´s demise begins and without a democrat in the WH to bail them out it´s only a matter of time.
10 people like this.
Reply 9 - Posted by:
DVC 4/26/2019 12:45:37 PM (No. 68831)
Yeah, believe the space cadet. /s off
Electric cars are forever the car of the future. Too expensive to actually compete, too short ranged and too slow to "refuel".
Without subsidies, they wouldn´t sell 10% of what they do. And still losing money massively.
The sooner they are gone, the better.
5 people like this.
Reply 10 - Posted by:
coldborezero 4/26/2019 12:57:45 PM (No. 68834)
Any product or industry (regardless of what the product actually is) that cannot survive in a free market without a government subsidy does not have a legitimate reason to exist. If enough people do not purchase the item and it is still on the market due to government intervention (subsidies), then it is being forced upon us using our own money.
That is all.
5 people like this.
Reply 11 - Posted by:
Strike3 4/26/2019 1:04:45 PM (No. 68830)
I´m glad you added "in its class" #3. If I bought a car for beauty and performance it would be a Ferrari with 12 cylinders of carbon-producing horsepower. Fortunately I do not have to race anybody to work, I just need to get there. Honda and Toyota will still be producing the best cars long after Tesla is gone.
7 people like this.
Reply 12 - Posted by:
Smart11344 4/26/2019 1:33:21 PM (No. 68833)
Nikolai Tesla is probably glad he is dead after Musk has sulleied him name. I am glad I am not a rich eliteist, I have drive Camry´s since 1975. My current Camry is from2002 and for the first time ever the red engine light has come on.
5 people like this.
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