Tesla posted a loss of $702 million for the first quarter.
“The loss for its second-quarter would be “significantly” a smaller amount,” Elon Musk led Tesla said.
Elon Musk-led American automotive and energy company Tesla posted a loss of $702 million for the first quarter.
The company said, the loss for its second-quarter would be “significantly” a smaller amount.
The Tesla also said, it will return to profit mode in the third quarter.
Factors behind large losses.
Tesla reported a loss of $702 million for the first quarter after lower than expected delivery numbers.
After 10 years in the market, Tesla ranked as the world’s best-selling plug-in passenger car manufacturer in 2018, both as a brand and by automotive group, with 245,240 units delivered and a market share of 12% of the plug-in segment sales.
Tesla vehicle sales in the U.S. increased by 280% from 48,000 in 2017 to 182,400 in 2018, and globally were up by 138% from 2017.
