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What you need to know: This weblog captures key data points about the global telecoms industry. I use it as an electronic notebook to support my work for Pringle Media.

Friday, January 31, 2020

Tesla Says Revenue Growth Will Accelerate

Tesla reported a 2% year-on-year rise in revenues for the fourth quarter to 7.38 US dollars,  as deliveries of its Model 3 car leapt 46% to 92,620. Tesla said: "Revenue growth was offset by higher lease mix, Model 3 becoming a larger part of our mix, introduction of the Standard Range trims of Model 3, and adjustments to vehicle pricing. These changes have resulted in a reduction to the average selling price (ASP) relative to 2018. We do not expect ASP to change significantly in the near term, which means volume growth and revenue growth should correlate more closely this year."

"We are positioned to accelerate our revenue growth further through increasing build rates in Gigafactory Shanghai and our Model Y production line in Fremont. These production increases will allow for higher total vehicle deliveries and associated revenue."

Tesla said its customers vehicles have now driven over three billion miles in "Autopilot mode", adding more data to the neural net it is using to develop self-driving capabilities. "All Tesla vehicles with our FSD computer have been updated with new software that can better detect new details in their environments, allowing us to show various lane markings, traffic lights, stop signs, cones as well as other vehicles and road users. Understanding the environment around a Tesla is key to enabling our cars to react to traffic lights and stop signs and take intersections through city streets. We are currently validating this functionality before releasing to customers, and we look forward to its gradual deployment."

In the fourth quarter, Tesla launched premium vehicle connectivity in the US for 10 dollars (plus tax) per month, which customers can use to stream music or videos, browse the Internet or see live traffic through an embedded connection. Source: Tesla statement

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