H L Data Storage Store Banner 970x90
Breaking News

Nikon announces Z 30 APS-C size mirrorless camera and NIKKOR Z 400mm f/4.5 VR S Transcend Announces Blazing-Fast Portable SSD ESD380C Sony unveils new PC gaming gear brand “INZONE” to maximise performance and ability with dedicated gaming monitors and headsets Meet the New Galaxy XCover6 Pro Colorful Technology, Gigabyte and EVGA also announces GeForce GTX 1630

logo

  • Share Us
    • Facebook
    • Twitter
  • Home
  • Home
  • News
  • Reviews
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map

Search form

Tesla Reports Profit As New Model Y is One The Way

Tesla Reports Profit As New Model Y is One The Way

Enterprise & IT Jan 29,2020 0

Tesla Inc. reported better-than-expected revenue and announced an accelerated arrival of its next electric vehicle.

The company reported $7.38 billion in sales for the fourth quarter.

Tesla's GAAP gross profit of $4.1B remained essentially flat in 2019 compared to 2018. Volume growth and successful cost reduction efforts were offset by normalization of ASP, mix shift towards Model 3 and a higher lease mix. Sequentially, GAAP gross margin remained relatively flat in Q4 compared to Q3, while Tesla ramped Model 3 production at Gigafactory Shanghai.

In 2019, Tesla's revenue growth was positively impacted by a strong increase in vehicle deliveries (112,095 in Q4). Revenue growth was offset by higher lease mix, Model 3 becoming a larger part of Teesla's mix, introduction of the Standard Range trims of Model 3, and adjustments to vehicle pricing.

These changes have resulted in a reduction to the average selling price (ASP) relative to 2018. Tesla does not expect ASP to change significantly in the near term, which means volume growth and revenue growth should correlate more closely this year. The company is also positioned to accelerate its revenue growth further through increasing build rates in Gigafactory Shanghai and the new Model Y production line in Fremont. Tesla said that Model Y production ramp started in January 2020, ahead of schedule. The company has also increased Model Y all-wheel drive EPA range to 315 miles from 280 miles. The crossover will start deliveries by the end of March

Tesla also reported record Q4 storage deployment of 530 MWh and a 26% solar growth QoQ.

For full year 2020, Teesla expects vehicle deliveries to exceed 500,000 units. Due to ramp of Model 3 in Shanghai and Model Y in Fremont, production will likely outpace deliveries this year.

The company also expects both solar and storage deployments to grow at least 50% in 2020.

Tags: teslafinance
Previous Post
Facebook Operating Margins Decline, Growth Slows
Next Post
Microsoft Commercial Strength Powers Second Quarter Results

Related Posts

  • SoftBank Reports $18 Billion Loss from Vision Fund

  • Panasonic Annual Profit Decreased, Tesla Battery Venture Brings Gains

  • Tesla Develops New Low-cost, Long-life Battery for Electric Cars: report

  • Sony's Q4 Profit Dropped 57% on Low Image Sensor Sales

  • Tesla Sues California County in Virus Factory Closure Fight

  • Sharp Cuts Full-year Profit Forecast as Virus Impacts Demand

  • Roku Says Ad Sales Growth is Slowing, Platform Sees Growth

  • Tesla Delays The Release of Roadster Sports Car

H L Data Storage Store Banner 300x600

 

Latest News

Nikon announces Z 30 APS-C size mirrorless camera and NIKKOR Z 400mm f/4.5 VR S
Cameras

Nikon announces Z 30 APS-C size mirrorless camera and NIKKOR Z 400mm f/4.5 VR S

Transcend Announces Blazing-Fast Portable SSD ESD380C
Enterprise & IT

Transcend Announces Blazing-Fast Portable SSD ESD380C

Sony unveils new PC gaming gear brand “INZONE” to maximise performance and ability with dedicated gaming monitors and headsets
Gaming

Sony unveils new PC gaming gear brand “INZONE” to maximise performance and ability with dedicated gaming monitors and headsets

Meet the New Galaxy XCover6 Pro
Smartphones

Meet the New Galaxy XCover6 Pro

Colorful Technology, Gigabyte and EVGA also announces GeForce GTX 1630
GPUs

Colorful Technology, Gigabyte and EVGA also announces GeForce GTX 1630

Popular Reviews

CeBIT 2005

CeBIT 2005

CeBIT 2006

CeBIT 2006

Zidoo Z9S 4K Media Player review

Zidoo Z9S 4K Media Player review

LiteOn iHBS112 review

LiteOn iHBS112 review

Club3D HD3850

Club3D HD3850

Pioneer BDR-2207 (BDR-207M) BDXL burner review

Pioneer BDR-2207 (BDR-207M) BDXL burner review

External USB Slim Recorders Comparison

External USB Slim Recorders Comparison

Crucial P1 NVMe 1TB SSD review

Crucial P1 NVMe 1TB SSD review

  • Home
  • News
  • Reviews
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map
  • About
  • Privacy
  • Contact Us
  • Promotional Opportunities @ CdrInfo.com
  • Advertise on out site
  • Submit your News to our site
  • RSS Feed