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Tesla post Great quarterly loss as its Electric-Car Sales Team

Analysts had slashed their income estimates over the past few weeks and after the anemic delivery numbers, Tesla again doubts that it can achieve its goals and meet Wall Street's financial goals. The share was slightly changed in increased trading after the profit announcement, but it is over 30 percent from its latest high. Tesla said on Wednesday that it is expected to deliver between 90,000 and 100,000 cars in the second quarter, up from 63,000 during the first three months of the year. It said it would lose money again in the second quarter, but less than in the first quarter, and would make a profit in the third quarter. Tesla's supporters hope that the sales of model 3 will increase and enable the company to meet the goal of delivering 360,000 to 400,000 vehicles this year. Tesla confirmed that goal on Wednesday, but said that vehicle manufacturing would be "significantly higher than deliveries," due to the time it takes to transport cars from California to other countries. The company next month plans to start selling a $ 35,000 version of model 3. The lower price may set up the demand for car, but charging less can make it more difficult for Tesla to make a profit on the vehicle. Tesla's cash position is crucial for the company's future. Mr Musk intends to produce new cars in volume, including a large truck called Semi, but the establishment of new production facilities would mean large amounts of cash. Many analysts…

Analysts had slashed their income estimates over the past few weeks and after the anemic delivery numbers, Tesla again doubts that it can achieve its goals and meet Wall Street’s financial goals. The share was slightly changed in increased trading after the profit announcement, but it is over 30 percent from its latest high.

Tesla said on Wednesday that it is expected to deliver between 90,000 and 100,000 cars in the second quarter, up from 63,000 during the first three months of the year. It said it would lose money again in the second quarter, but less than in the first quarter, and would make a profit in the third quarter.

Tesla’s supporters hope that the sales of model 3 will increase and enable the company to meet the goal of delivering 360,000 to 400,000 vehicles this year. Tesla confirmed that goal on Wednesday, but said that vehicle manufacturing would be “significantly higher than deliveries,” due to the time it takes to transport cars from California to other countries.

The company next month plans to start selling a $ 35,000 version of model 3. The lower price may set up the demand for car, but charging less can make it more difficult for Tesla to make a profit on the vehicle.

Tesla’s cash position is crucial for the company’s future. Mr Musk intends to produce new cars in volume, including a large truck called Semi, but the establishment of new production facilities would mean large amounts of cash. Many analysts expect Tesla to issue new shares to raise funds.

Mr. Musk, who previously said the company did not need more capital, indicated that he had changed since Tesla was now able to use capital more effectively. “There are benefits to the idea of ​​raising capital at this point,” he told analysts.

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