How have Tesla's revenues trended over the last few quarters and what's the outlook for Q1 2019?
Tesla's revenues increased from around $3.4 billion in Q1 2018 to about $7.2 billion in Q4 2018, driven by expanding sales of the Model 3 sedan. However, revenues are expected to fall to about $5.4 billion in Q1 2019, as Tesla has guided that automotive deliveries would dip by about 30% over the quarter.
What are the key revenue drivers to watch for?
Key revenue driver 1
Tesla's automotive revenues grew from $2.7 billion in Q1'18 to $6.3 billion in Q4'18, driven by expanding production of Model 3.However, metric expected to fall by over 30% sequentially in Q1 2019, as Model 3 deliveries fell 20% sequentially, amid logistical issues in supplying to new markets such as China and Europe.Moreover, Model S and X deliveries fell by 56% Q-o-Q over the quarter.
Total Automotive Revenue
Key revenue driver 2
Tesla's services revenues have expanded from $260 million to over $530 million between Q1 and Q4 2018, driven by a larger base of vehicles. We expect the metric to grow further to about $600 million in Q1 2019.
Services and other