The first quarter of 2019 was a tumultuous quarter for Tesla, with the company launching international deliveries of the Model 3 in China and Europe. Back at home, Tesla launched its new $35,000 Standard Range Model 3 in the United States, along with a restructuring of its retail sales model and new vehicle pricing across the board.
The inventory that was required to fill the pipeline of international deliveries overseas necessarily ate into profits in Q1 2019, while the introduction of the Standard Range Model 3 drove demand through the roof. To offset the loss in value for current owners, Tesla offered a temporary discount on its Autopilot and Full Self Driving solutions that spurred thousands of owners to pull the trigger on the purchase of one or both software packages.
These major milestones, combined with a handful of smaller changes, made this one of the most exciting quarters in company history and led Tesla CEO Elon Musk to alert the public that the company might not turn a profit.
Adding fuel to the fire, Tesla held its first-ever Autonomy Investor Day yesterday, where it unpacked the hardware and software underpinning its Autopilot and Full Self Driving solutions. The 3½ hour event wrapped up with Musk making bold proclamations about fully autonomous Tesla Robotaxis roaming streets as early as next year. Fully autonomous vehicles, he said, would almost instantaneously make cars that need to be driven about as useful as a horse and carriage.
Tesla will show its cards in its quarterly investor call tomorrow, April 24th, at 2:30pm California time, and for the first time ever, CleanTechnica will be hosting the quarterly earnings call live with a custom livestream that will do more than just play the audio. We have built a new dashboard specifically for the occasion, which we’ll use to share questions as they are asked, in realtime. It’s a bring-your-own-popcorn event, but tune in here for the entertainment as it unfolds.
Come back here on April 24th, 2019 at 2:30pm Pacific time to view the livestream as the event unfolds! Or save the YouTube link:
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