Tesla's second-quarter earnings report that it released on Wednesday was filled with significantly less doom and gloom , and that's in large part to Tesla's successful capital-raising program as well as its record number of vehicle deliveries during Q2. Despite that, it still posted a loss of $408 million and as of 3 p.m. Pacific time, its share prices were down by over 9% in after-hours trading.
Apart from the company's financial bummer of another quarter in the red, we got confirmation from Model 3 production starting there around that time. Tesla is also accelerating its efforts to begin work on a European Gigafactory starting with finding an appropriate location in which to situate it.that it expects to be ready to launch by the end of the year, with
Tesla also expects that it will be ready to start production on Model Y here in the US sometime in the Fall of 2020 -- a timeframe that's in-line with what it's discussed previously. Things withare mostly -- and forgive us this terrible pun -- on autopilot now. Those vehicles are being built at Fremont during a single shift, and Tesla itself has said it has for its flagship models.
Also noteworthy is Tesla's report that it has been able to sell off the bulk of its on-hand Models S and X, such that it now has just 18 days worth of inventory for those vehicles if sales rates stay what they are now.
In the realm of technology, Tesla reiterated that it expects Advanced Summon to roll out soon. That's along the lines of what CEOwhen he explained that Full Self-Driving would be increasing in price next month.
It also talked about an expansion ofto more areas of Europe and Asia as well as stop sign and traffic light recognition being running in "shadow mode" across the Tesla fleet, verifying that Tesla's simulations and real-world results match up. This can realistically be taken to mean that we're probably not eons away from seeing that roll out to the Early Access program and then the public.