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Tesla misses its Q2 sales target

By Faiming_low on 03 Aug 2016 in Other News

Attached Image While Tesla has many ambitious future product plans, not all of these might not turn into reality as the company is suffering from ever-increasing losses and lower than expected sales. The electric vehicle company has just released its second quarter results and according to the report, it shows that its losses were almost 60 percent more than the previous year, amounting to nearly S$400 million.

Part of this is due to late deliveries where over 5,000 vehicles were produced late in Q2 and won't be delivered until early in the third quarter. Total deliveries which came up at 14,402 units, were short of CEO Elon Musk's target.

It is said that by the end of 2016, Tesla aims to sell 80,000 cars, much more than the 50,500 delivered to the customers in 2015.

Despite missing the sales target, the company's revenue has risen to S$1.71 billion, thanks to the sales of the Model X SUV which costs around 15 percent more than the Model S.

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Written by Faiming_low
Since young, Fai Ming has always centered his life around cars. In fact his first word was 'car' and not 'mum' or 'dad'. Aren't kids cute?

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