• 45 mins The Secret Life Of Lithium
  • 15 hours The Pandemic Proof $53 Billion Industry Wall Street Can’t Ignore
  • 18 hours Will Gold Hit $2,000?
  • 22 hours Trump’s Proposed Regulation Could Slow The ESG Boom
  • 2 days India To Auction 41 Coal Assets
  • 2 days Eldorado Sees Gold Production Soar In Second Quarte
  • 3 days Do Gold Stocks Still Have Upside Potential?
  • 4 days The S&P 500’s Top Companies Hold $2.5 Trillion In Debt
  • 4 days Electric Vehicle Rebound Bolsters Battery Metal Growth
  • 5 days BlackRock Makes A Run On Asian Stocks
  • 5 days Gold Prices Surge Above $1,800
  • 6 days Chinese Stocks Soar On Bullish Economic Data
  • 6 days Apple’s “Holy Grail Of Data” Leaves Energy Traders Disappointed
  • 6 days Gold Rally Adds $250 Billion To Top 50 Miners' Market Cap
  • 7 days TikTok Is Becoming A New Battleground For Tech Politics
  • 7 days Peru's Mining Industry Pummeled As Coronavirus Cases Surge
  • 7 days Why The World Is So Divided In Its COVID-19 Response
  • 8 days Equities Cheer Stellar Jobs Report, But It May Be Fleeting
  • 9 days Is Tech Billionaire Peter Thiel Done With Trump?
  • 9 days Musk Takes To Twitter To Troll The SEC
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

  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