Cars

Tesla Admits To Biggest Financial Gloom Yet!

By  | 

Many have blasted Tesla for having a business model that offers zero sales transparency. Unlike how it is with other car manufacturers, Tesla prefers to offer their sales report on a quarterly basis. That way, they will feel less pressure to appease their investors.

On the other hand, some market watchers revealed that the quarterly reveals from Tesla are not at all honest. The carmaker is able to control the information conveyed thus sugar-coating everything wrong on the financial sheets.

While we feel that may be true to a certain extent, Tesla has surprised us yet again when they openly admitted earlier today to making their biggest quarterly loss yet.

The sharp incline in expenditure happened when Elon Musk decided to fork out $675.4 million to send a car into space. If this keeps up without a real end product, Tesla is at risk of getting buried permanently.

t