Lo and behold, Tesla during the 2018 September quarter did just that.
In the meantime, Tesla faces increasing competition in the luxury space, as traditional brands plan to enter the electric market, including Daimler's Mercedes-Benz, BMW, and Volkswagen's Audi and Porsche.
The layoffs will affect 3,000 of the company's 45,000 workers. And while it's easy to get bogged down in overall profits, one of the bigger takeaways from Musk's letter, in my opinion, centers on the significant uptick in vehicle deliveries. Last year, the company grew 30 per cent - more than the company can support, Musk said in the memo.
To help the company maintain profitability, Tesla is adopting Q3 2018's strategy this quarter, with the electric auto maker pushing the Model 3 Performance and the Long Range Model 3 AWD to customers in Europe and China. As for Q4 2018, Musk stated that there is a good chance Tesla would be able to make a profit as well, though not in the same level as the third quarter. He said it was the best-selling premium US vehicle of the year.
The CEO also explained the firm faced a "difficult" road ahead of "making our cars, batteries and solar products cost-competitive with fossil fuels". Chief Executive Elon Musk said the company faces a very hard road ahead in trying to make more people afford its electric vehicles.
In 2019, Tesla Motors will look to solidify its success and continue to forge ahead on its mission of disrupting global transportation with zero-emission vehicles, self-driving technologies, and forward looking cars that offer something tangibly different from competitors.
Tendulkar-Kohli debate, Dhoni best finisher ever? Ian Chappell speaks out
Besides that, Virat Kohli recently guided Indian National Cricket Team to their first-ever series victory in Tests in Australia . The subsequent ODIs will be played in Tauranga (January 26 and 28), Hamilton (January 31) and Wellington (February 3).
Leslie Jones slams Jason Reitman’s Ghostbusters sequel
Leslie Jones took to her Twitter to share her very honest thoughts on the new follow-up to the 1984 original. "Like fuck us. Comedian Leslie Jones played Patty Tolan in Feig's reboot and she has been extremely critical of Reitman's upcoming film.
Serena Williams wins -- and consoles opponent -- again at Australian Open
She also noted that when she was younger, "I played against Lindsay Davenport , Martina Hingis , Monica Seles ". This fortnight, Halep has been playing herself into mental shape, becoming more confident with each victory.
Tesla posted a US$311 million quarterly profit in October, only its third profitable quarter in eight years as a public company. Musk credited the higher-priced Model 3 sales.
The company, which has struggled to achieve long-term profitability and keep a tight lid on expenses, also said it expects fourth-quarter profit to be lower than the preceding quarter.
While it succeeded in scaling up output of its Model 3, the company missed analysts' production targets during the fourth quarter, and it's had to cut prices to make up for the halving of a USA federal tax credit that's helped spur sales.
"This quarter, as with Q3, shipment of higher priced Model 3 variants (this time to Europe and Asia) will hopefully allow us, with great difficulty, effort and some luck, to target a tiny profit", said Musk. But electric cars of all makes remain vastly more expensive than equivalent models powered by an internal combustion engine, at a time of relatively low oil and therefore gasoline/petroleum prices.
The move is aimed at getting overheads down so the company can start churning out more affordable Model 3 sedans, namely the promised $35,000 Standard model which will have a 220-mile range.