Cars sold:
Q1 2019: 63,000
Q1 2018: 29,980
Q1 2017: 25,000
Q1 2016: 14,820
Q1 2015: 10,045
Q1 2014: 6,457
Q1 2013: 4,900
Q1 2012: 0
Revenue
Q1 2019: $4.5 billion
Q1 2018: $3.4 billion
Q1 2017: $2.7 billion
Q1 2016: $1.6 billion
Q1 2015: $1.1 billion
Q1 2014: $713 million
Q1 2013: $562 million
Q1 2012: $30 million
Q1 2011: $49 million
Q1 2010: $21 million
Most of these are at this point bleeding market share to Tesla that they are trying to recover from by launching products that clearly are a lot less competitive and are probably being sold at a loss right now. They are going to be bleeding cash while they sell prematurely launched EVs at a loss and struggle to ramp up production for those for the next decade. Shut down production capacity for ICE vehicles that they can no longer sell because people buy Teslas instead. Write off hybrid product development for which demand seems more limited than they hoped. Write off hydrogen product development that has not been happening either. Etc.
Tesla is of course only part of their problem. There is a lot of stuff coming out of Asia right now that is low cost and full EV. Buses, trucks, small cars, etc.
Their next decade is about surviving multiple rounds of downsizing, consolidation, demand drops for essentially all their existing products, huge capital investments to catch up with Tesla and other new players in the market.
Meanwhile, Tesla has several Gigafactories coming online over the next few years that will improve their production capacity; several new products in the pipeline that will challenge their competitors even more, and business models that extend beyond just consumer EVs including solar panels, batteries to support grid operations, batteries to complement domestic solar installations, etc. In all of these markets their biggest problem seems to be getting enough capital to build the production capacity to serve the demand. The big picture here is rapid growth and dropping cost for the foreseeable future limited only by the amount of available capital.
BMW sold 2.5 million cars in 2018, the eighth year of increased sales.
Someone upthread quoted that half the cars were sold in the last ten days of Q1, after a big price drop. Combine this with hemorrhaging cash, then I would definitely not say that the above is the only numbers that matter.
Elon Musk on the conference call sounded open to raising money for the first time in years, and for good reason. Their cash balance is beyond alarming and their growth has painfully and obviously stalled. Demand for model s and x was way down in Q1, as anyone who was paying attention could have told you, and contrary to what Tesla says Q2 so far looks like more of the same.
Don’t forget that just 2 months ago Musk was guiding for a small loss or possibly, with luck, a tiny profit. Instead they had a loss 4 times worse than analysts estimates, which were already cut massively. A loss so big it basically wiped out the last 2 profitable quarters. In Q4 last year Musk said he thought they could be profitable in all quarters going forward, obviously Tesla isn’t there yet.
I'm curious, sold or Model3 from the waiting list delivered?
Deliveries were approximately 63,000 vehicles, which was 110% more than the same quarter last year, but 31% less than last quarter. This included approximately 50,900 Model 3 and 12,100 Model S and X.
https://ir.teslamotors.com/news-releases/news-release-detail...
Pointing at year-over-year for a company like this is deceiving. They just introduced their "mass produced" car with 2 years worth of demand. But, I guess you have until next year to keep telling this particular story.
https://ir.tesla.com/static-files/b2218d34-fbee-4f1f-ac95-05...
> Deliveries of Model S and Model X declined to 12,100 vehicles in Q1 compared to our two-year run rate of roughly 25,000 units per quarter. This decline was mainly caused by weaker Q1 demand due to seasonality, pull-forward of sales into Q4 2018 in the U.S. due to the first scheduled reduction of the federal EV tax credit in Q1 and discontinuation of our 75 kWh battery pack. We also had a mismatch between orders and deliverable cars. For example, due to adjustments in pricing mid-quarter, the take rate for the performance versions of Model S and Model X increased faster than we were able to supply
I find quarterly reporting and the credence it’s given absolutely absurd - particularly when dealing with businesses that are scaling rapidly and treading novel territory.
What happened to the decade+ holds of traditional retail investors? Why are we so obsessed with turning investments around in X months?
You hear all of these “if I’d bought IBM stock in 1956” stories - so why does the short term take such precedence?