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10-24-2018, 06:10 PM
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#652 (permalink)
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Human Environmentalist
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...and also decreases price of long range dual motor by $1,000.
Tesla is incentivizing people to purchase the highest margin vehicles they can. Get those waiting for base model to purchase mid, and those happy with mid to purchase long.
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10-24-2018, 07:11 PM
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#653 (permalink)
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Master EcoWalker
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Whatever, they are making money.
https://www.cnbc.com/2018/10/24/tesl...s-q3-2018.html
Quote:
Tesla posted net income of $311.5 million, or $1.75 per share, compared with a loss of $619.4 million, or $3.70 per share, a year ago.
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__________________
2011 Honda Insight + HID, LEDs, tiny PV panel, extra brake pad return springs, neutral wheel alignment, 44/42 PSI (air), PHEV light (inop), tightened wheel nut.
lifetime FE over 0.2 Gmeter or 0.13 Mmile.
For confirmation go to people just like you.
For education go to people unlike yourself.
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10-24-2018, 08:30 PM
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#654 (permalink)
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AKA - Jason
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Quote:
Originally Posted by RedDevil
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I suspect the people that put down a deposit years ago for a $35,000 Model 3 care that Tesla will only make $46,000 cars.
Good on them for finally showing a profit. Hopefully Musk is saving his pennies because he has some BIG bills coming due: $487 million in 4Q2018 and $920 million in 1Q2019. That is just bond debt.
They also owe their suppliers $3.6 billion in account payables. So it appears that Musk did convince suppliers to take delayed payments so he could show a paper profit for the 3rd quarter.
Tesla's working capital (assets - current liabilities) stands at -$1.86 billion.
So Tesla is underwater but is somehow going to tool up the Model Y, Roadster, Semi and build a $2 billion dollar plant in China. Interesting times ahead.
Last edited by JSH; 10-25-2018 at 01:00 PM..
Reason: $3.6 million to 3.6 billion
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10-25-2018, 04:06 AM
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#655 (permalink)
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Master EcoWalker
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This is not the base model yet. It is an in between model.
Many who signed up for the base model won't take the top range model but might be lured to buy this one instead. Better range than base and available at short notice.
Yes, Tesla is under water but moving in the right direction now.
__________________
2011 Honda Insight + HID, LEDs, tiny PV panel, extra brake pad return springs, neutral wheel alignment, 44/42 PSI (air), PHEV light (inop), tightened wheel nut.
lifetime FE over 0.2 Gmeter or 0.13 Mmile.
For confirmation go to people just like you.
For education go to people unlike yourself.
Last edited by RedDevil; 10-25-2018 at 06:19 AM..
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10-25-2018, 10:49 AM
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#656 (permalink)
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AKA - Jason
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Quote:
Originally Posted by RedDevil
This is not the base model yet. It is an in between model.
Many who signed up for the base model won't take the top range model but might be lured to buy this one instead. Better range than base and available at short notice.
Yes, Tesla is under water but moving in the right direction now.
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I know it isn't the base model. That is the problem. In 2016, Musk promised a $35K Model 3 for delivery in 2017. If he delivers to his latest schedule he will be 2 years late and most customers won't get the tax credit. Yes, it is a bait and switch to convince people to buy a more expensive model under the threat of losing the tax credit if they wait. Yes, he is trying to pull sales forward. None of that helps long term sales / profitability.
No, Tesla isn't moving in the right direction (financially). Their debt liabilities increased more than the paper profit he is showing. Musk can't continue to use accounting tricks quarter after quarter.
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10-25-2018, 11:12 AM
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#657 (permalink)
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Moderator
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Quote:
Originally Posted by JSH
They also owe their suppliers $3.6 million in account payables. So it appears that Musk did convince suppliers to take delayed payments so he could show a paper profit for the 3rd quarter.
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Am I missing something here? Various news outlets report a Q3 profit of $312 million, large enough that $3.6 million wouldn't make a difference either way, and an increase in cash reserves of $731 million, to $3 billion on hand.
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10-25-2018, 11:21 AM
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#658 (permalink)
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Somewhat crazed
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Been my experiences that Musk doesn't ask, he just doesn't pay you. Pretty common anymore in business. GE is famous for it as was Hughes A/C.
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casual notes from the underground:There are some "experts" out there that in reality don't have a clue as to what they are doing.
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10-25-2018, 01:00 PM
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#659 (permalink)
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AKA - Jason
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Quote:
Originally Posted by Vman455
Am I missing something here? Various news outlets report a Q3 profit of $312 million, large enough that $3.6 million wouldn't make a difference either way, and an increase in cash reserves of $731 million, to $3 billion on hand.
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My original post has a typo it should be $3.6 Billion not million. I'll correct the original post.
Musk reduced capital spending and slowed payments to suppliers in the 3Q to conserve cash and show a profit. That isn't a long term strategy.
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10-26-2018, 06:41 PM
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#660 (permalink)
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Moderator
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Quote:
Originally Posted by JSH
My original post has a typo it should be $3.6 Billion not million. I'll correct the original post.
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That makes more sense!
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