Cars not batteries will be the cynosure of attention as Tesla Motors Inc (NASDAQ:TSLA) declares earnings later today. Tesla investors will examine the results for indicators on whether the firm’s is on its way to meet this year’s goal to trade 55,000 vehicles and for advances on its Model X sport utility vehicle set to be launched this summer.
Analysts consulted by Bloomberg calculate that Palo Alto, California-based Tesla will lose 49 cents per share, excluding some items even as quarterly sales breached $1 billion for the very first time. Last month the firm said it traded 10,030 Model S luxury electric sedans in the quarter. Hence, investors will be waiting for a second quarter forecast.
Chief Executive Officer, Elon Musk, sparked off enthusiasm last week for the Tesla Energy line of stationary battery products for homes, businesses, and utilities. That unit can’t bloom till Tesla’s giant battery factory commences production next year. Hence, for the moment, investors are interested to know if sales are picking up in China and if the Model X SUV is still going into production this summer.
The crossover meant to appeal to women as well as men have been postponed twice. Both investors and customers are keen for production and deliveries to start. The new model is also key to assisting Tesla attain its full-year sales goal of 55,000 a 74% rise from the 2014 figure.
For the second quarter, the average analyst prediction is for 12,025 Model S deliveries. Tesla Motors Inc (NASDAQ:TSLA) had predicted around 22,000 first-half deliveries, including 1,400 vehicles that would’ve reached customers last year if not for holiday related delays and adverse winter weather.
Also on investors’ radars are indications of advances in China. While sales have been tardy in the world’s biggest auto market, Dan Dolev, an analyst with Jefferies LLC, said a survey demonstrates enough demand to reach Tesla’s sales goals through 2020 just in North America and Western Europe.