The company only delivered 63,000 vehicles in the quarter, down 31% from 2018’s fourth quarter.
The Model Y is an SUV and is expected to share many of the same underpinnings as its lower-cost sedan, the Model 3.
Musk expects the company to avoid returning to the markets for capital and to be “essentially self-funding on a go-forward basis.”
Model is key to turning Tesla from a niche maker of expensive electric cars to a profitable, mass-market automaker.
$745.3 million in cash in Q1; slow production ramp-up of the Model 3 electric sedan cited.
Some analysts are questioning whether Musk should be spending more time fixing the vehicle’s woes.
… But revenue more than doubled to $2.7 billion as more vehicles are delivered in the quarter.
…But limited to tech savvy, environmentally conscious early adopters.
Lower-priced Model 3 sedan on schedule for release in 2017.