Currently reading: Demand doubles Tesla revenue but company's losses continue to grow
Electric car maker’s fast-selling Model 3 has surged income - but it can’t offset the cost of ongoing investment

Tesla has more than doubled revenue in the second quarter (Q2) of 2017 thanks to significant increases in customer deliveries.

The American brand recorded total revenue of almost $2.8 billion (£2.12bn) between March 30 and June 30, more than $1.5bn (£1.13bn) on top of what it achieved in the same period of 2016.

Tesla attributed much of its revenue growth to a surge in customer vehicle deliveries, which have just grown to also include the heavily in-demand Model 3. Deliveries grew by 53% compared to Q2 of 2016 – something Tesla said was unique in an otherwise “flat luxury vehicle market”, with 22,026 Model S and Model X deliveries in Q2 of 2017 growing the brand’s year-to-date deliveries to 47,077.

Tesla’s automotive operations contributed 93% to its revenue this Q2.

Ongoing investment into its battery-producing Gigafactory in Nevada, as well as research and development for future models, has led to it accruing losses of $336 million (£254m) in the three-month period, up from $293m (£221m) in 2016.

However, the brand’s overall progress has resulted in an 8% increase in its share prices.

Tesla expects demand for its Model S and Model X to grow through the second half of 2017. It will ramp up production of its Model 3 to 20,000 units per month from December.

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Tesla Model 3 Performance version due in 2018

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SmokingCoal 3 August 2017

Just another tech company...

Just another unprofitable tech company overvalued due to media and fanboy obession. They are certainly no different than other tech companies in collecting data....

Facebook, Google and Apple have all been accused of spying on users in a fashion similar to methods used by America's National Security Agency (NSA). How can we trust other tech companies such as Tesla?

We already know that Tesla collects a ton of data from each vehicle they sell, which they currently claim is to “improve our vehicles and services for you”. For those that don’t know, Tesla only give examples of the information they collect, but admit to collecting the following: vehicle identification number, speed information, odometer readings, battery use management information, battery charging history, electrical system functions, software version information; infotainment system data, safety-related data and camera images (including, e.g., information regarding the vehicle’s SRS systems, braking and acceleration, security, e-brake, and accidents), short video clips, information regarding the use and operation of Autopilot, Summon, and other features. They further claim they may collect such information either in person (such as during a service appointment) or via remote access.

Some may like the idea of Tesla being the future, but I can understand those who are concerned.

xxxx 4 August 2017

Just Another Company, OMG

They admit to collecting such things as "vehicle identification" and "battery use management". OMG, I'm deffo never gonna buy a car from a company that keeps a record of the VIN number of my Telsa.

You 're right to be paranoid on page 36 of George Orwell's book 1984 it clearly highlights future car companies will collect and misuse VIN numbers to suppress the masses.

bowsersheepdog 4 August 2017

xxxx wrote:

xxxx wrote:

They admit to collecting such things as "vehicle identification" and "battery use management". OMG, I'm deffo never gonna buy a car from a company that keeps a record of the VIN number of my Telsa.

You 're right to be paranoid on page 36 of George Orwell's book 1984 it clearly highlights future car companies will collect and misuse VIN numbers to suppress the masses.

You think registering the VIN in relation to the other information gathered is harmless?  It's the difference between saying "a car was here at this time and there at that time", as opposed to "this car was here at this time and there at that time".  Who buys a car expecting all of their movements to be tracked and recorded by its maker.

Just as I've said many times before, electric and autonomous cars are a leftie plot to curtail freedom of movement among the mass of the people, but the mass of the people won't fall for it and the electric car fad will die out.  Electric cars are going nowhere.

Incidentally that's twice already in this thread, to add to all the dozens, maybe hundreds of previous occasions, that electric car fanboy/fangirl four x here has misspelt the name of his/her beloved manufacturer.  If he/she can't even get the name which is so important to him/her correct, what chance that anything he/she says about the future of electric cars has any value whatsoever.  None.  His/her predictions are as rubbish as electric cars themselves.

SmokingCoal 4 August 2017

Fool or fanboy?

Remember the controversy when the New York Times journalist claimed the Tesla Model S he test drove wasn't very good and ran out of battery power? His story was untrue, but what most people failed to notice was what Tesla actually did around that time. 

Tesla, in a press release, unleased all of the data from the car. They told the world exactly what the journalist was up to. The journalist claimed he set the cruise control to 54mph, but Tesla said it was actually set as high as 81mph. If Tesla is happy to tell the world that a journalist was breaking the law by speeding in a press release, how can anyone trust them not to tell authorities about other customer and Tesla users?

Tesla also released information on the battery’s status and charging history throughout the journey, what temperature the car’s heater was running at and information on the location of where and when the journalist was doing donuts in a car park.

If you believe Tesla is innocent then you are either a huge fool or a laughable fanboy. 

LP in Brighton 3 August 2017

How sustainable?

Revenue may have doubled but, if I'm reading this correctly, Tesla is currently loosing about £1 billion per year on an £8 billion turnover. At some point, it will have to make a profit to survive, or sell out to another manufacturer with money to invest. Still the company has done extremely well to get to this point, so who would bet against it? 

fadyady 3 August 2017

The rise and...

Since Tesla started making headlines with its sensational cars, the detractors have been slating it over one pretext or the other. That has not stopped or even slowed the stellar rise of this visionary American car firm while the Big Germans in cahoots with the opportunist Merkel continue to flog the stale dog of diesel.