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Tesla may set a quarterly record for deliveries, according to leaked Elon Musk email
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Watch a Tesla Model 3 quickly swerve on its own to avoid an accident at the last second
It's a shame that much of the narrative surrounding Tesla these days centers on the company's stock price, Elon Musk's shenanigans on Twitter, or other trivial details that don't truly capture some of the impressive automotive innovations Tesla has rolled out at a slow and steady pace over the years.Even today, a talking head on CNBC proclaimed that the 'Tesla dream' had come to an end and that the reality is that Tesla simply is unable to execute as promised. But if we move past the talking points, there's a lot of good news lurking beneath the surface. As a prime example, the number of Tesla vehicles on the road has exploded in recent years. To this point, Tesla deliveries from Q1 of 2018 to Q1 of 2019 jumped by an astounding 110%. In turn, we've seen a discernible uptick in videos depicting Tesla vehicles on Autopilot avoiding potentially tragic collisions.The latest example was posted to Reddit earlier today and depicts a Model 3 swerving out of harm's way after being rear-ended and almost careening into a car ahead:https://www.youtube.com/watch?v=QVdTAwU07Jc"This morning I was rear ended coming to a stop by a lady driving about 40-50 mph," the uploader of the video notes. "The swerve in the video is not me. I don't really remember in the moment but I think it was the Tesla that avoided the front collision. Saved me from bigger damage."Now is it possible that the driver instinctively swerved to the left to avoid the car ahead and simply doesn't remember? Of course. That said, there are rumblings on the Reddit thread that Tesla will take a look at the logs and see exactly what happened.Interestingly enough, this is the second Autopilot video we've seen make the rounds in just the last two weeks:https://twitter.com/RaghuKonka/status/1120209206995406848
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Elon Musk: Tesla needs to cut costs or it will run out of money in 10 months
Defying skeptics, Tesla during the September quarter of 2018 actually managed to turn a profit of $312 million thanks to strong demand for the mass market Model 3. Tesla's profits for the quarter were far from staggering, but it nonetheless instilled faith that the electric automaker was on a path towards financial viability.Just a few months later, the narrative surrounding Tesla has drastically shifted. When the company last month released its earnings report for the March quarter, it posted a quarterly loss of $702 million. That said, it's worth noting that production, deliveries, and demand for Tesla vehicles have all grown at an impressive clip over the past many months. As an illustrative example, Tesla during Q1 of 2019 manufactured 77,100 vehicles, a figure which well more than double the amount it manufactured during the same quarter in 2018.Nonetheless, Tesla continues to burn through money at an alarming rate. So much so, in fact, that Tesla CEO Elon Musk recently sent an email (obtained via Electrek) wherein the Tesla CEO explained that the company -- which has approximately $2.2 billion in cash on hand -- may not have enough cash to last beyond a period of 10 months."This is a lot of money," Musk said, "but actually only gives us about 10 months at the Q1 burn rate to achieve breakeven!"Consequently, Musk explained that the company will be taking a much closer look at employee expenses as it pertains to "parts, salary, travel expenses, and rent."Musk conceded that the soon to be implemented cost-cutting measures are "hardcore," adding that it's the "only way for Tesla to become financially sustainable and succeed in our goal of helping make the world environmentally sustainable."This isn't the first time Musk has rung the alarm bells about drastically cutting costs, but it remains to be seen what the company can do within a 10-month timeframe.
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Tesla may set a quarterly record for deliveries, according to leaked Elon Musk email
It's sometimes hard to make sense of what's going on with Tesla. Is the company on the verge of going bankrupt, or poised to set new records for deliveries? Well, according to Tesla CEO Elon Musk, the answer to both questions could be "yes."A few days ago, an internal email from Musk to Tesla employees claimed that the company was in danger of running out of cash in just 10 months time. As a result, Musk said that the company was going to implement "hardcore" cost-cutting measures, an initiative Musk claims is the only way for the company "to become financially sustainable and succeed in our goal of helping make the world environmentally sustainable."In the following days, a pair of research reports from analysts laid out rather dire bear-case scenarios for Tesla, with Morgan Stanley noting that Tesla, in a worst case scenario, might only be worth $10 a share. As a point of reference, Tesla was trading at $376 less than six months ago.All that said, demand for Tesla vehicles appears to be growing and on the verge of setting new records. According to a new internal email from Musk (via CNBC), the Tesla CEO relayed that the company was on pace to set a new record for deliveries for the June quarter."As of yesterday," Musk said, "we had over 50,000 net new orders for this quarter. Based on current trends, we have a good chance of exceeding the record 90,700 deliveries of Q4 last year and making this the highest deliveries/sales quarter in Tesla history!"Of course, Musk's statement was tempered with the qualification that Model 3 production needs to remain steady at 1,000 units per day, at a minimum."We've averaged about 900/day this week," Musk added, "so we're only about 10% away from 7,000/week. If we rally hard, we can do it."The larger takeaway from all of this Tesla hoopla is that demand, contrary to some analyst opinions, does not appear to be a huge issue for the company. Still, the company is burning through cash at an alarming rate and, as Musk notes, needs to pick up production to meet swelling demand.
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