Tesla Is Hemorrhaging Cash And Could Run Dry Before The End Of 2018

A new report from Bloomberg highlights the precarious position Tesla is in right now, and it doesn't look pretty
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Tesla is continuing to burn through cash at an astonishing rate. About $6500 a minute, according to an alarming new report from Bloomberg. So, go away and make a cup of tea right now, and - so long as you’ve left the teabag in for a decent brewing duration - Tesla will have lost at least $30,000 in that time.

Don’t just take our word for it - there’s a handy counter on the Bloomberg piece, complete with a brilliant Elon Musk flamethrower Gif, that shows roughly how much money Tesla has lost since you opened the page.

$6500 a minute figure is actually a little less than the publication previously reported - Tesla apparently got through cash at a rate of $8000 a minute in the 12 months prior to November 2017 - but the main takeaway here is that it’s now looking like the Californian firm could be out of cash before the year is out.

A big factor is Tesla’s employee count. Since 2010, Tesla’s workforce has surged from 899 to 40,000 people, but the company still isn’t bringing in much money. General Motors and Ford rake in about two and a half times the revenue of Tesla per employee. Model 3 production delays have proven particularly costly, at a time when Tesla is also investing heavily in its incoming Semi truck.

The company currently holds $854 million in customer deposits, which - Bloomberg notes - are effectively “interest-free loans.” It’s not enough though, and without raising additional external funding, Tesla is at a real risk of going bankrupt.

It’s looking like 2018 is going to be a make or break year for Musk and Tesla.

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Comments

GTRTURTLE 🔰 🐢(Oo \ S K Y L I N E / oO) (Koen

A shame because as much as we don’t like Tesla, it was going somewhere and could be a whole future but we will have to wait and see.

05/01/2018 - 11:22 |
5 | 2
Chewbacca_buddy (McLaren squad)(VW GTI Clubsport)(McLaren 60

In reply to by GTRTURTLE &#x1…

Ambitious but rubbish basically

05/01/2018 - 11:27 |
19 | 0

I like Tesla because they were the only company to make electric cars that people wanted. They also didn’t make them tiny and hideously overstyled.

05/01/2018 - 11:58 |
6 | 2
Anonymous

So, Elon Musk’s April Fool’s tweet is probably real? What a prediction!

05/01/2018 - 11:23 |
43 | 1
Anonymous

Watch this Tesla Roadster go from concept to vaporware in 1.9 seconds!

05/01/2018 - 11:25 |
159 | 0
Destroya

In reply to by Anonymous (not verified)

Laughs in 840hp 6.1L supercharged pushrod V8

05/02/2018 - 23:09 |
7 | 0
Wogmidget

Laughs in V8

05/01/2018 - 11:27 |
121 | 0
jdm-supra-1600(md squad)(Supra squad leader)

In reply to by Wogmidget

Laughs in V10

05/01/2018 - 11:31 |
83 | 0

Brap brap brap brap!!!

05/01/2018 - 17:17 |
3 | 0
DEFECTED STREETRACER

In reply to by Wogmidget

Laughs in 1.5 4 cylinder

05/01/2018 - 18:13 |
6 | 2

I’am wishing than we could spam that damn upvote button..

05/01/2018 - 18:42 |
6 | 1
H5SKB4RU (Returned to CT)

In reply to by Wogmidget

Laughs in flat four

05/01/2018 - 19:24 |
7 | 1
FLixy Madfox

Dang. Well, hopefully they get some good cash. Teslas are really great cars and, atleast to me, it’d be a shame to see them go

05/01/2018 - 11:31 |
5 | 3
Chewbacca_buddy (McLaren squad)(VW GTI Clubsport)(McLaren 60

In reply to by FLixy Madfox

Yeah. They should have taken their time and gradually put the 3, semi, and Roadster into production rather than rush it

05/01/2018 - 11:50 |
3 | 0
Chewbacca_buddy (McLaren squad)(VW GTI Clubsport)(McLaren 60

In reply to by FLixy Madfox

[DELETED]

05/01/2018 - 11:50 |
0 | 0
Chewbacca_buddy (McLaren squad)(VW GTI Clubsport)(McLaren 60

In reply to by FLixy Madfox

[DELETED]

05/01/2018 - 11:50 |
0 | 0
Chewbacca_buddy (McLaren squad)(VW GTI Clubsport)(McLaren 60

In reply to by FLixy Madfox

[DELETED]

05/01/2018 - 11:50 |
0 | 0

Part of the problem is that they’re not actually great cars. Quite the opposite, in fact. I wouldn’t touch one with a ten meter pole after doing more research.

  • They received a “not recommended” in the 2015 consumer report.
  • In 2016 the Model X was released with reliability concerns right out of the gate.
  • In 2017 the Model 3 was called “a Kia in the 90s” and the Model X was the single most unreliable car in the USA.

The Model S has had consistent reliability issues throughout its lifespan, too.

Their cars are a mess, and word is spreading. The only people that seem to buy them now are either ignorant of the troubles or die hard fanboys.

05/01/2018 - 12:32 |
16 | 3
Ray Sloan

The model 3 was a mistake

05/01/2018 - 11:33 |
1 | 0

The model 3 was a great idea, they just launched it about 5 years too late

05/02/2018 - 09:41 |
0 | 0
SAVAGE DOGG (Ping-Pong Gang) (Corvette Squad)

What a shame. I kinda wanted Tesla to succeed.

05/01/2018 - 11:42 |
2 | 2
Anonymous

Tnankfully the company that want to make cars discardable like cell phones is hoing down . Nothi g againist musk but teslas are useless after 100k kms whic is nothing

05/01/2018 - 11:47 |
5 | 0
€urodriver (Quattrosquad) (Group F50)

Everyone knows he’s fleeing to mars with that money 😶

05/01/2018 - 11:48 |
17 | 0
Anonymous

[DELETED]

05/01/2018 - 11:54 |
0 | 0