Tesla reports back-to-back profitable quarters for the first time

Tesla reports back-to-back profitable quarters for the first time

In the same quarter, 27,607 Model X and Model S vehicles were delivered.

Musk told investors that the Model Y volume production would start towards the end of 2020.

It further goes on to stress that Tesla was created to accelerate the advent of sustainable transport.

After Musk sent an email to workers asking for help improving production efficiency, the automaker has slashed its man-hours per vehicle by 20 percent for the Model 3 in the last quarter. The SUV crossover will get its own production line at the Gigafactory in Nevada. However, Musk did caution that if any obstacles come up, everything could change.

According to past reports, the Model Y would have a central console riser, an IP riser, and a third row of seats in the back. Does she know something about the preparation of the company's financials that made her uncomfortable enough to resign?

The demand for - the demand for Model 3 is insanely high. The sleek tractor as already been unveiled and is now being tested on public roads. The Semi is expected to cost between $150,000 and $180,000. Musk said the company has revamped a system in which spare parts were stored at regional warehouses. It would bring several new features. Tesla's guidance issued earlier in the day projected more modest deliveries of 360,000 to 400,000 units. They predict this will result in a faster production ramp up.

Tesla's CFO Deepak Ahuja has announced he is leaving the company in a few months.

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But in a letter to investors published last night, he conceded that Tesla should be able to make 10,000 of the vehicles by the end of 2019.

Tesla's finance team witnessed a high turnover in the past year with one Chief Accounting Officer, Dave Morton, spending less than a month at the company. Gradient Investments LLC now owns 88 shares of the electric vehicle producer's stock valued at $29,000 after acquiring an additional 83 shares during the last quarter.

Tesla has adjusted prices of its US -made cars in China to keep its cars affordable in the country, a move also aimed at helping it fend off competition from a swathe of domestic electric vehicle startups such as Nio Inc, Byton and XPeng Motors.

"We think people have been too bullish about Tesla showing earnings power, and sustained positive cash from operations", he said.

Tesla CEO Elon Musk is optimistic if nothing else, as proven by the Tesla earnings call this week in which Musk made a number of promises and projections for the future of the electric auto manufacturer.

A man who prefers to stay behind-thescenes, Ahuja flew to India a couple of times in recent years, seeking to know from the government and other key stakeholders whether there was a will to let Tesla enter India. Zach Kirkhorn, the company's vice president of finance, will replace him as CFO.

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