TESLA Q1 2019 in a Nutshell

Author: Ruban
Sector: Autos
Industry: Consumer Cyclical

TESLA Image source Engadget

The Launch of Model Y:

Tesla launched its Model Y after so much anticipation in March, model Y is a crossover SUV that will cost from US $39,000 to $60,000 depending on the configuration. The Model Y is about 10 percent bigger than the Model 3, seats seven, features a panoramic glass roof and 66 cubic feet of cargo space. The Model Y will share about 75 percent of its components with the company’s Model 3 electric sedans, allowing Tesla to start manufacturing the new SUV for far less money than it spent to begin producing the Model 3. The company planned to produce in 2020.

TESLA model y Image source Slash gear

Paying off $920 million convertible bond in cash:

Tesla has paid off its $920 million convertible bond obligation in cash. The $920 million in convertible senior notes expired March 1, at a conversion price of $359.87 per share. Since Tesla’s stock hasn’t traded at or above $359 in weeks, the electric vehicle maker had to pay in all-cash rather than half-stock and half-cash as it had previously intended.

TESLA Q1 2019 delivery numbers:

In total, the company delivered a total of approximately 63,000 vehicles which was 110% more than the same quarter last year but 31% less than the previous quarter. Furthermore, the company stated that approximately 10,600 vehicles were in transit to customers globally, which would inflate the Q2 2019 delivery numbers. For detailed information on TESLA's Q1 2019 deliveries read here.

TESLA deliveries Image source Clean technica

Layoffs going into Q2:

Going into the second quarter of 2019 Tesla already did a fresh round of layoffs, cutting dozens of salespeople from payrolls. The company has cut thousands of jobs since the start of the year in an effort to control cost and achieve sustained profitability.

Extension of Tax credit:

A bipartisan group of US lawmakers introduced legislation in the middle of this month to expand electric vehicle tax credit by 400,000 vehicles per manufacturer, a provision that will give a boost to companies like General Motors Co and Tesla Inc before their existing credit comes to an end.

Delay in TESLA-Panasonic battery Gigafactory capacity expansion:

Panasonic Corp and Tesla Inc will continue to make investments in the U.S electric carmaker's Gigafactory as needed but believe they can squeeze more out of existing resources than previously planned.

Separately, Panasonic said it was watching the demand situation in the electric car market before making any further investments in expanding the capacity of the Nevada plant.

TESLA Network:

As Tesla moves towards more autonomous features on its vehicles, it has also been teasing a long-term goal of providing owners with the opportunity to provide Uber/Lyft-like rides with their vehicles, letting owners make money in their off-time. On April 22 Tesla will show off capabilities of their new hardware and their road map for future improvements to their investors.

TESLA Q1 2019 Financial results:

Tesla will announce its first-quarter 2019 financial results on April 24. things to look out for in Tesla's Q1 2019 financial results can be read here.

TESLA Stock Price:

Tesla's stock price is trading at around $273, which is around 30% less than 52 weeks' high of $387.46 and 10% more than 52 weeks' low of $247.77.

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