Despite Record Losses Tesla Promise Profit Is On The Way

Despite Record Losses Tesla Promise Profit Is On The Way

It’s hard to know exactly what is going on at Tesla. As much as we love the company, it seems that bad news is constantly dogging it. Personally, I wish I had more good things to say about the company as I admire the entrepreneurial nature of Elon Musk and wish the brand to do well.

Following the report of more record losses though, it’s hard to remain positive. Elon Musk has, however, assured both fans and investors that the company is set to finally start turning a profit.

Never Made Money!

It might be hard to believe, but to date, Tesla has never made a profit. It’s such concerns that have driven rumours that the company might be suffering severe financial difficulties. In the latest quarterly report though, Tesla has again reported substantial losses. This time, a record loss of $718m. Despite this though, company head Elon Musk remains upbeat.

Despite the record loss reported via VentureBeat, shares in the company have actually increased by 11%. This is driven by the pledge of Elon Musk that the company is finally able to get a solid and stable production of cars. As such, they anticipate that they should, very shortly, soon actually start making money.

I Hope So!

As above, I really want to have a good news story about Tesla. To do it though, sooner or later the company is going to have to start making money. It seems that car production may finally be on the right track and that is going to be the major factor in this. I just really hope that this is true and not just more Elon Musk hyperbole.

What do you think? Can the company finally turn a profit? Do you think they are in big financial trouble? – Let us know in the comments!