On April 24th, East Coast time, Tesla released its first-quarter earnings report, Tesla GAAP (US GAAP) revenue of 4.54 billion US dollars, a net loss of 702 million US dollars; losses including 188 million US dollars non-recurring The cost, of which $120 million is due to the significant price cuts of Model S and ModelX, is due to the return of the owner and inventory impairment.
Data show that Tesla delivered a total of 63,000 units in the first quarter of this year, a decrease of 31% from the previous month. At the same time, Model 3′s first quarter delivery was also lower than the fourth quarter of 2018, down 20% from the previous quarter.
The “Securities Daily” reporter noted that this is the first time in four years that Tesla sales have experienced a quarter-on-quarter decline. In addition, Tesla’s cash position further tightened in the first quarter, and the company’s cash fell to 2.2 billion US dollars.
Just two days after the Shanghai Tesla spontaneous combustion incident, Tesla CEO Elon Musk first voiced and responded to the incident. Some analysts said that Musk is an innovative talent, and its technical achievements in battery management technology and remote upgrade of OTA are remarkable. But “Muske has a fear of security.”
Sales in the first quarter were frustrated
Net loss of $702 million
Tesla has been raging in the past quarter. First, a large number of offline stores were closed, sales personnel were abolished to reduce the cost of sales, and the price of Model 3 was briefly raised and lowered frequently. After that, the auto-driving and driverless network cars were promoted before the release of the financial report, and the new version of Model S and Model X was released. .
“Securities Daily” reporter noted that in January this year, Musk was deeply convinced of the first quarter earnings judgment; however, a month later, Musk admitted that there will be a small loss in the first quarter; until mid-March, with the sales performance The worse, the price of Tesla fell all the way, Musk not only denied the expectation of the first quarter earnings, and even could not wait for consumers to deliver the vehicle ahead of time to save the river’s sales performance.
The reporter checked the delivery data released by Tesla earlier this month and saw that the car sales in the first quarter of this year were lower than expected. Tesla delivered about 63,000 cars to consumers, down 31% from the previous month. At the same time, Tesla’s lowest-priced, most popular Model 3 deliveries in the first quarter were also lower than the fourth quarter of 2018, down 20% from the previous quarter.
According to Tesla’s 63,000 deliveries in the first quarter, Musk’s annual delivery target of about 400,000 vehicles is less than half of what is expected. At the same time, in addition to the worrying number of sales fundamentals, Tesla is currently being reluctant to repay huge debts.
According to the reporter, Tesla’s cash reserves have dropped to 2.2 billion U.S. dollars due to the repayment of convertible bonds in March. The next big payment is the $566 million debt that expires in November this year; and the $1.4 billion bond will be repaid in two years.
Negative response to avoid spontaneous combustion
Experts say that Musk lacks awe
Just as Musk tried to boost the sluggish sales, “Spontaneous Fire” once again pushed Tesla to the cusp of public opinion. At 8 o’clock on the evening of April 21, a Tesla car was set on fire in the underground garage of Ted Huayuan Community, Yude Road, Xuhui District, Shanghai. The fire also affected other vehicles parked around.
Afterwards, the owner, Mr. Dong, told the media that the Tesla was used for about three and a half years. At the time of the incident, the Tesla vehicle was not charging.
In response, Tesla responded on April 22 and said that he is actively contacting relevant departments and supporting the verification. However, Tesla still has no explanation for why the car is spontaneous. As the insurance company refused to claim the self-igniting Tesla, the owner suffered no compensation.
At the same time, Musk shouted out of his own products. “Every year more than 1 million internal combustion engine cars are on fire and thousands of people are killed. But only one Tesla fires, no one has become the biggest headline news. Why is the media so double-labeled? This is really a problem. “”
In this regard, a senior engineer who worked in Ford in North America told reporters: “Muske is an innovative talent, and its technical achievements such as battery management technology, remote upgrade OTA, AUTOPILOT, homemade chips, and 100 meters of line speed of the whole vehicle are remarkable. But Musk has a fear of security.”
He said that the traditional fuel tank fuel tank will not spontaneously ignite. Even if the line is aging or the short-circuit fire is transmitted to the tank explosion, there is a long escape space. The thermal management of electric vehicles has problems, usually only 10 seconds of escape window.
In its view, to solve the safety of electric vehicles, we should start with mandatory standards. According to him, at present, the national electric vehicle full power collision GB/T 31498-2015, the system level national standard GB/T31467.3-2015 are non-mandatory standards.
Similarly, the five-star evaluation CNCAP2018 requires no short circuit or fire within half an hour after the collision of the electric vehicle, nor is it a mandatory standard. In contrast to fuel vehicles, there are mandatory regulations for the integrity of the fuel system after a collision. “The US FMVSS301 contains mandatory requirements for collision protection after 80 kilometers.”
Post time: May-05-2019