Thursday, October 6, 2022
News As Tesla reaches for the stars, it bleeds money

As Tesla reaches for the stars, it bleeds money

Less than two days ago, Elon Musk’s SpaceX ‘s Falcon Heavy Rocket launched into space with a Tesla Roadster strapped to its back. The waves following this impressive feat were felt around the world. Unfortunately, that’s where the good news ends.

Yesterday, Tesla announced that the company lost an eye-watering $675.4 million in the final quarter of 2017. By comparison, the electric car maker suffered a $121 million loss for the same period in 2016. The true sad news is that there’s no silver lining in sight.

Deliveries of the high-volume, highly anticipated Model 3 continue to be delayed. Many consumers put deposits down nearly two years ago, expecting delivery in the next few months. Updates from Tesla to these customers are indicating that they won’t get their car for another year…

Tesla seems unable to ramp up production and those that finally get their Model 3s are experiencing quality and reliability issues. Do you think Bob Lutz is right about Tesla closing up shop soon? That the Model S, X and 3s will quickly become collectable cars?

Trending Now

Maserati Unveils the GranTurismo… Now Available with an Electric Powertrain!

The Maserati GranTurismo coupe was the oldest model in the trident brand's lineup, but as of this morning, the Modena, Italy-based division has rectified...

Nine Things You Need to Know About the Dodge Challenger

Pricing for the 2022 Challenger starts at $38,165 in Canada and $30,940 in the US. The Challenger bows out of production after the...

Faraday Future Raised $100 Million Ahead of the Launch of the FF91

The company reported having financial problems earlier this year. About $100 million has now been raised out of the required $325 million. The...

Valérie Limoges Makes History in the Nissan Sentra Cup

For the first time in Canadian racing history, a female driver has clinched a class title in Canadian road racing. When Quebec’s Valérie Limoges and...

Bentley Bentayga S and Azure Add Sport and Comfort to Big-Buck SUV

A pair of new trims enhance the hybrid Bentayga in two different ways Both get more power and extended EV range The Bentley Bentayga...
Matt St-Pierre
Trained as an Automotive Technician, Matt has two decades of automotive journalism under his belt. He’s done TV, radio, print and this thing called the internet. He’s an avid collector of many 4-wheeled things, all of them under 1,500 kg, holds a recently expired racing license and is a father of two. Life is beautiful. Send Matt an emai

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.