Tesla says it is on track despite losses

The price of cutting off analysts? For Tesla, it's $2…

This number is specifically called out numerous times and Tesla is very confident now it can reach that number by the end of July.

Tesla on Wednesday posted its worst ever quarterly loss and said its Model 3 production target remains on track, expecting to hit about 5,000 per week in about two months.

To achieve profitability, Musk will have to reverse what today amounts to a $22,584 pre-tax loss per vehicle built by the Silicon Valley company. It is expected that the company may report lower-than-expected results in its first quarter report expected to be announced on Wednesday.

The earnings are also a test for short sellers, who have piled on record bets that Tesla's stock price will fall. Sorry, these questions are so dry. As noted in Tesla's Q1 Earnings Report, the company is now producing 2,270 Model 3's per week, less than half of the 5,000/week goal they set for the end of June.

"And so where specifically will you be in terms of capital requirements?" Next, next. Boring bonehead questions are not cool.

Musk abruptly ended a round of questioning after the analysts asked about the impact of the electric-car maker's reduced spending plans and the percentage of Model 3 reservation holders who have configured a vehicle.

Model 3 production surpassed 2,000 cars per week only in the past month or so, which is far behind Musk's initial timeline.

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More than of the company's capital expenditure went to the "completion of work for Model 3 production capacity at Fremont and Gigafactory 1 plus payments to suppliers for tooling".

Lastly, on the subject of the Tesla Semi and its proposed 500 mile range, Musk said that the company could produce the truck with a 500 mile range right now given the current state of its technology. Tesla's second quarter results will be under vast pressure after the CEO admitted that the company depended heavily on automation.

The giant loss in a critical quarter for the 15-year-old company was bigger than Wall Street expected. DnB Asset Management AS increased its stake in Tesla by 5.3% during the fourth quarter.

The company acknowledged that ramping up automation for the Model 3 caused major delays, but said that any new manufacturing process is going to come with challenges.

"Our focus is on the Model 3, we need to become a profitable company - that is a good criticism that has been leveled at Tesla", Musk said.

Bloomberg estimates that almost 10,000 Tesla Model 3's were produced in April. The division could be posting over half a billion in revenue per quarter by the end of this year. Goldman Sachs decreased their target price on shares of Tesla from $205.00 to $195.00 and set a "sell" rating on the stock in a research report on Tuesday, April 10th. If you get bullish and expect that Tesla will jump to 3,000/week in that time period, we're talking perhaps 10,000 Tesla Model 3s in April.

Tesla did not disclose Model 3 preorder numbers but we know its huge - they report over $900 million cash from deposits remaining. Meanwhile, financial analysts are concerned that the cost of the hires and associated training will be so expensive that Tesla could run out of funding before Model 3s turn a profit for the company.

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