The Californian electric car manufacturer Tesla (TSLA) announced yesterday evening its third quarter results. According to the press release, the deliveries of the sport utility vehicle (SUV) Tesla S-model is on track and the company said it will reach the year targets this year. Tesla said it has delivered a record of 11.603 new cars during the quarter and expect the shippings to be 17.000 – 19.000 vehicles during the last quarter.
Tesla said also that the orders related to the new luxury crossover Model X have been accelerated during the period. The shippings are expected to happen during the next year in Europe. Third quarter revenue were 936 million dollars, compared to 954 million dollars during the previous quarter. Gross margin was 25,1 percent. Loss before income tax was 228 million dollars compared to loss of 188 dollars during the previous quarter. The loss per share was 1,78 dollars.
The company also said it has updated about 40 000 cars with its new autopilot programm. It helps drivers to avoid risks related to front and side collisions and keep the car on the road. On the other hand Tesla is also thinking ways how to enhance the safety issues among drivers when using autopilot.
Company also announced a new CFO, Jason Wheeler, who will start his job during November. He is former executive in the Google´s Finance division.
During the conference call, an analyst from Morgan Stanley, asked about Tesla´s long term strategy related to ondemand autoplatform. The idea of this, if Tesla is seeking also new cash generated income models through sharing economies, like Tesla´s own on-demand autoplatform. CEO Elon Musk did not close any comment on that.
Tesla (TSLA) shares closed down 2,5 percent to 208,35 dollars, but after hour trading the share was up nearly 9 percent.