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.
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.
Special counsel disputes explosive report on Trump lawyer testimony
Michael Cohen arrives at his home in New York City with one of his arms in a sling supported by a pillow Friday, Jan. 18, 2019. With this latest story, "obviously these facts are true or they're false, and we will all get to the bottom of this", he said.
Liverpool vs. Crystal Palace - Football Match Report
But at the same time , nothing short of maximum points against those three middling teams will be enough in this tight title race. Apart from that, we could defend him but there were a lot of set-pieces - especially the set-piece which they got for the 2-2.
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.