Tesla Makes a Profit In The Third Quarter
Tesla makes a profit in the third quarter. This is welcome news for Tesla enthusiasts and most of all, for Elon Musk. Realizing that morale was down after Tesla published a 17% profit decline this year, Elon pushed cost cutting measures and increased output. Bloomberg quotes him as writing: “It would be awesome to throw a pie in the face of all the naysayers on Wall Street”.
While this is good news, skeptics are still having their day. Many have expressed disbelief in Tesla’s ability to maintain cash flow. Ambitious plans set to begin shortly may make it difficult to continue the upward trend. Model 3 production will soon be in full swing and the Gigafactory in Las Vegas is gearing up. The fourth quarter begins with the whole world watching.
Consumer Reports Criticizes Tesla – Again
When Tesla outlined their master plan, it did not involve a Model X. Perhaps that would have been for the best. Though Consumer Reports initially gave the Model S the highest rating ever, the Model X was rated as unsatisfactory. Tesla Model X owners continue to have problems. Most consumers have cited issues with the doors, both the front and the falcon doors, as well as the heating system. Dissatisfaction with the assembly has also been noted. Problems such as poorly-aligned panels and gaps in molding have been cited. Even Elon Musk, at a presentation in Chambourcy, France, has been quoted as saying: “I’m not sure anyone should have built or designed this car, because it’s so difficult to make.”
The Model S has also ‘fallen from grace’ so to speak. Various issues that have come up as the vehicle has aged have given it a modest “Average” rating. Consumer Reports says: “The main problem areas involved the drivetrain, power equipment, charging equipment, giant iPad-like center console, and body and sunroof squeaks, rattles, and leaks.” Clearly not a isolated issue.
No doubt Tesla is working on these issues as they produce the much anticipated Model 3!