Elon Musk's Tesla announces biggest quarterly loss ever

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Its cargo, Musk's cherry red convertible, is now heading toward an asteroid belt between Mars and Jupiter.

Attention to those issues should lead to a "significantly" increased production rate through the first half of this year, Tesla said. The company should get out of production hell soon, he said.

One quarter later, Musk says the company is "still a few levels deeper (in hell) than we'd like to be", but was on track to deliver 2500 vehicles by the end of March, and 5,000 by the end of Q2. The other significant production challenge for the company involves the automated conveyance system for parts at the company's Fremont factory, he said.

It looks like Tesla is prioritising the more expensive versions of the auto over the loss-making base variants, but the report mentions that it was not an unexpected move.

Investors also suffered a $3.04 loss per share, slightly better than the $3.16 loss analysts had forecast.

Tesla Inc (NASDAQ:TSLA) posted strong fourth-quarter results as the company's loss was narrower than Wall Street expected. More than expected by analysts.

Hovering imports push U.S. commerce deficit to nine-year excessive
These data are released as the Trump administration has made the reduction of the trade deficit one of its priorities. Trump has said he plans to take a more forceful stance to bring down America's trade deficit.

"The competitive strength of Tesla long term is not going to be the vehicle (s), it's going to be the factory, we're going to productise the factory", he said.

Today, news broke that delivery of the base variant of the Model 3 has been pushed back to early 2019.

Much attention from analysts and the public has been focused on the Model 3. The auto, which starts at $35,000, has met with production delays that have pushed the 5,000-units-per-week delivery target from the end of December to the end of March, to the end of June.

Tesla also restated its Model 3 production goals as the company believes its weekly production rates will be 2,500 by the end of its first quarter.

That said, Tesla made $3.3 billion in revenue, largely thanks to the Model 3, while future customers spent tens of millions just to join the queues for the Tesla Semi and Roadster models that Musk showed in November.