Tesla posts big loss

Tesla has reported a wider-than-expected quarterly loss, according to Yahoo Finance[1]. “Tesla’s negative free cash flow swelled to £1.4 billion, more than analysts had expected,” stated the report. The company said it would cut production of its Model S and Model X vehicles to “redeploy resources toward the Model 3”.

This is set to result in a 10% drop in production for the two models. Tesla then expects to produce 5,000 Model 3 vehicles a week by the end of Q1 2018. This follows Tesla head Elon Musk recently describing the Model 3 as being “deep in production hell”.

Its Q3 statement also reported revenue of £2.98 billion and an adjusted loss per share of -£2.92.

Now read: AutoTrader now part of Naspers[2]


  1. ^ Yahoo Finance (finance.yahoo.com)
  2. ^ AutoTrader now part of Naspers (mybroadband.co.za)

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