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Tesla’s mounting losses

Tesla and SpaceX CEO Elon Musk just blasted the most powerful rocket into space, however Tesla’s losses are keeping the automaker grounded.
Posted on 11 February, 2018

Tesla posted a record quarterly net loss of US$675 million in the fourth quarter, up from a net loss of US$121 million in the same period a year ago. Production delays for its Model 3 sedan had Wall Street expecting the automaker to lose US$3.15 million a share in the fourth quarter. However, Tesla's adjusted fourth-quarter loss, of $3.04 per share, was ahead of Wall Street's estimated loss of $3.15 per share. The California-based automaker is struggling to meet production targets for its first mass-market car, the Model 3 sedan. Tesla is also spending heavily on other vehicles in its future fleet, including a semi truck that's supposed to go into production next year.  Clement Thibault, a senior analyst with the web site, discussed Musk's latest fundraising efforts for The Boring Co., his new tunnel-drilling company: “He appears to be more eager to sell hats and flamethrowers rather than meeting previously stated production targets for Tesla vehicles.”