• 1 hour Did Facebook Just Become ‘Uninvestable’?
  • 7 hours Electric Vehicles Are Reshaping The Mining Industry
  • 1 day Buffett, Dimon Voice Support For Stock Buybacks
  • 1 day Newmont Goldcorp Now World's Top Miner After Sealing The Deal
  • 2 days Canopy Growth Eyes U.S. Pot Producer In $3.4B Takeover Deal
  • 2 days U.S. Slaps New Sanctions On Cuba To End ‘Glamorization Of Communism’
  • 2 days The Unstoppable Electric Bus Revolution
  • 2 days Pinterest, Zoom Launch Much Anticipated IPOs
  • 3 days Marijuana’s Bizarre Bottleneck Isn’t What You’d Expect
  • 3 days Climbing Stocks Weigh On Gold, But A Turnaround May Be Near
  • 3 days China's Economic Growth Exceeds Analyst Expectations
  • 3 days Gold Prices Fall On Record Global Production Estimates
  • 4 days Can Meditation Make A Business More Profitable?
  • 4 days America’s Biggest And Most Profitable Actually Got Tax Rebates
  • 4 days Central Bank Gold-Buying Is Chipping Away At The Dollar
  • 4 days The Three Assets That Outperformed The S&P Over 20 Years
  • 5 days Inside China’s Renewed War To Purge the Internet
  • 5 days Trump Blames Fed For 10,000-Point Stock Market Loss
  • 5 days Musk Draws SEC Attention With Another Controversial Tweet
  • 5 days The Overlooked Factor Contributing To Inflation
Tesla Struggles To Compete In European Market

Tesla Struggles To Compete In European Market

Tesla continues to catch the…

Trade In Counterfeit Goods Hits Half A Trillion Dollars

Trade In Counterfeit Goods Hits Half A Trillion Dollars

The counterfeit market has breached…

Michael Kern

Michael Kern

Safehaven

Michael Kern is a newswriter and editor at Safehaven.com, Oilprice.com, and a writer at Crypto Insider. Michael has several years of experience covering cryptocurrencies, and…

Contact Author

  1. Home
  2. Markets
  3. Other

Could Tesla Be Profitable By The End Of 2018?

Tesla

After having some troubles with production at the start of the year, which resulted in CEO Elon Musk spending a few nights in the factory, the billionaire visionary has unleashed a string of announcements, sending share prices up by 13 percent since the beginning of the month.

Despite this bump, however, Tesla is still down by 3.4 percent this year.  

In an uphill battle in his fight against bad publicity, Elon Musk has been doing his best to reassure investors that everything in his power is being done to push the Model 3 forward, which is seen by many as a critical part of Tesla’s long-term profitability.

Tesla’s troubles were amplified as trade war threats, both from China, and domestically, escalated. Musk has long stated that China was going to be one of Tesla’s key markets due to its size and supportive regulations, but a new 25 percent tariff on auto imports could send that dream flying off the tracks.

Elon Musk noted: "I am against import duties in general, but the current rules make things very difficult. It's like competing in an Olympic race wearing lead shoes."

Despite all of this, however, Tesla dominated the electric car charts for the first quarter of 2018. While a rival managed to steal a couple of the top 5 positions, Tesla still walked away with the victory.

The Model 3 held the number one position in electric car sales, followed by the Model S, with the Model X coming in fourth place.

The Model 3 was clearly the star of first quarter EV sales, up from 1,550 deliveries in the last quarter of 2017, to over 8,100 in the first three months of 2018.

Musk and Tesla aren’t out of hot water yet, though.

Wall Street brokerage Jefferies has noted that the refinancing risk for the company remains high if it cannot reach its goal of producing 10,000 Model 3s per week – a far cry from its first quarter delivery numbers.

By Michael Kern for Safehaven.com 

More Top Reads From Safehaven.com:

Back to homepage

Leave a comment

Leave a comment