Tesla Does Not Bring the Energy In Second Quarter

Tesla Inc. stocked dipped this week upon the release of the company’s most recent quarterly earnings report. The car manufacturer did not meet analysts’ expectations despite a company-record 95,356 vehicle deliveries during the second quarter of 2019.

According to Tesla’s SEC filing, the company produced an auto gross margin of approximately 19 percent, which is not as high as the company has experienced in recent years. Experts attribute this to high volume sales of the cheapest Tesla vehicle, the Model 3. The company expects to profit margin to rise when Model 3 production begins in a new China-based plant later this year. The company reported an all-time record of 77,634 sales of the car in Q2.

Tesla offers more than just vehicles. There is mixed news in the company’s energy division as well. Tesla reported a record low in solar installations, with just 29 in the second quarter. There were 84 reported installations during the same period last year, and as many as 214 in a quarter dating back to 2016.

“We are in the process of improving many aspects of this business to increase deployments,” Tesla stated.

However, Tesla grew deployment of its Powerwall and Powerpack by 81 percent in Q2, bringing total Powerwall installations to more than 50,000 locations. These products are Tesla’s electric car charging stations for commercial and home use.

Tesla announced on Wednesday it expects to return to profitability in the third quarter of 2019.

For the latest transportation and energy news, head to our industry pages! Also be sure to follow us on Twitter! You can also join the conversation in our Market Leaders LinkedIn Groups here!

Follow us on social media for the latest updates in B2B!

Image

Latest

sustainable building practices
Galvanized Steel Leads the Way in Sustainable Building Practices From Cost Savings to Environmental Benefits
April 22, 2024

As the construction industry navigates the complexities of sustainability and economic pressures, the role of galvanized steel has become increasingly pertinent in sustainable architecture. This material, celebrated for its durability and low environmental impact, is gaining attention amid global steel market fluctuations and rising demands for sustainable building practices. With significant shifts in manufacturing […]

Read More
Edge AI
The Winning Combination in Edge AI is Combining Cutting-Edge Hardware with Smart Software
April 22, 2024

As the world heads towards a technology-driven future, the integration of AI and edge computing is proving to be a game changer, particularly in the realm of IoT. These innovations are making it possible to process and analyze data where it’s collected, drastically reducing latency and enhancing real-time decision-making capabilities. The burgeoning field of […]

Read More
cloud environments
Rethink Everything: Modern Cloud Environments Demand a Fusion of New Security Architectures, Continuous Education and Educated Partnerships
April 22, 2024

As businesses increasingly transition to cloud environments, the conversation around cybersecurity has become more crucial. The shift from on-premise to cloud-based infrastructures offers notable benefits like scalability and cost savings, yet it introduces unique challenges and complexities in security management. The stakes are high, with a significant rise in cyber threats exploiting the vulnerabilities […]

Read More
Bullying, Suicide, and Society The Unseen Crisis in K-12 Education
April 22, 2024

In a recent episode of the Secured podcast hosted by Mike Matranga and Mike Monsive of ASAP Security Services, the tragic case of a transgender student named Nicks Benedict from Oklahoma grabbed national attention. Benedict, a 16-year-old who identified with he and they pronouns, died by suicide after a bullying incident at school. The […]

Read More