Electric car manufacturer Tesla (Nasdaq: TSLA) Has been in the news lately, and for good reason. As more start-ups and established auto tommakers release their own electric vehicles to the market, Tesla is busy innovating and expanding production capacity. Let’s take a look at some of the things that go hand in hand with the company.
Third quarter results beat estimates
Take a look at some of the results in Tesla’s latest quarterly report.
| Metric | Q3 2019 | Q3 2020 | Change YOY |
|---|---|---|---|
|
Total income |
.3 6.3 billion | 8 8.8 billion | 39% |
|
Net income |
Million 150 million | 9 369 million | 146% |
|
Management cash flow |
6 756 million | 4 2.4 billion | 217% |
Data source: Tesla. YOY = year after year.
Yet again, Tesla managed to shatter expectations. At this time last year, the company reported a net loss of 7 907 million in the first nine months of 2019; This year, the company has made a profit of 56 6,566 million.
Third quarter revenue for Tesla was a record high, something to be expected given the record delivery figures. More impressive, however, is how the company’s margin margins and revenue growth will more than double its operating operating cash flow in the previous quarter. As Tesla grows faster to meet the demand for its vehicles, a 217% year-over-year increase in operating cash flows certainly indicates that the company can handle further growth costs. Notably, Tesla plans to spend up to $ 12 billion over the next two years to expand its factories and increase production capacity. Capital..With 4 4 billion working capital and increasing cash flow, the company seems to be able to meet that figure of billion 12 billion without straining its finances.
Image source: Tesla.
Elon Musk announces lower prices
In a move to generate more discussions about the company, Tesla dramatically reduced the price of the sticker on the Model S in early October. With two price reductions in one week, maker Tomaker reduced the price of the luxury model by about 7.5%, to $ 74,990. 69,420.
Why are popular vehicle prices lower? Some lead to competitive pricing, as Lucid Motors, Musk’s initial rival, said its next base model would be priced at $ 77,400, or, 69,900, after a U.S. federal tax credit. The Lucid Air will have a maximum estimated range of 51 miles per charge, while the Tesla Model S has an EPA-estimated range of 206. In this case, with the exception of more technological innovation, the reduction in price helps to make the Model S more competitive.
As competition in the electric vehicle market heats up, traditional auto companies are increasingly offering electric-gasoline hybrid options and a number of start-ups are developing their own electric luxury sedans, trucks and motorcycles. Also US News and World Report Still, Tesla’s Model S will be launched in the US in 2020. Ranked as the No. 1 electric car in, largely based on its acceleration, driving range and ample cargo space. However, with Lucid’s move, founded by former Tesla executive Peter Rawlinson, that top spot is soon to be jeopardized.
So an increase in the number of people who are able and willing to buy Tesla’s high-end models could be another reason to reduce prices. The company does not currently have the capacity to meet the demand for its vehicles, thus it is rapidly building factories. If customers have more high-choice choices to make and Tesla has a mile-long waiting list, the company could lose potential customers to other brands. More ible accessible prices for its flagship car, helping to capture its lead in consumer awareness until it comes with another advancement.
Announced “complete” self-driving mode
Another reason people are talking about Tesla is because it has launched a new self-driving mode rollout for its vehicles, which has a fully autonomous bill. While the system is still in beta testing, the car’s videos promise future ease and happy drivers using their Aut Topilot capability. Many customers interested in buying a Tesla can find a self-driving vehicle, but this beta version has yet to meet the hype.
Immediately after the rollout of the specialty, U.S. The National Highway Traffic Safety Administration reminded drivers that “no vehicle available for purchase today is capable of driving itself.” In addition, many other videos quickly spread online, showing system errors, requiring drivers to take control of their cars quickly. Customer reports It also revealed its second-ranked ranking of driving assistance systems (to be clear, not fully autonomous systems), and despite being known, Tesla’s op topilot on the Model Y is second with only 57 points out of 100.
The new features add to the topilot’s ability to drive, accelerate and brake within the same lane; The “full” version should allow cars to ramp off the highway, change lanes, park, assist in traffic jams, and find a driver in the parking lot when called upon.
Tesla was the first automaker to premiere a semi-autonomous driving system, and its clear purpose is to fulfill its promise to provide customers with a fully capable self-driving vehicle. Despite the hype, the system isn’t entirely there.
But the company is constantly evolving, and with time and effort, Tesla should be able to cater to its customers ’appetite for more customers and hands-driving f driving capabilities. As a company, Tesla has faced many challenges over the years, and ultimately, it has been able to overcome and develop them all.
