Tesla has reported yet another loss, this time totaling $408 million during the second quarter of this year. It’s an improvement over the prior quarter, when the company reported a $702 million loss. Wired reports that Tesla’s stock price fell more than 10 percent in after-hours trading following the report. Despite the lack of profit, Tesla is selling more cars than ever. The company said Wednesday that it had delivered 95,356 vehicles in the second quarter of 2019, beating its own record of 90,966 from the end of 2018. With quarter two behind it, Tesla is now setting its eyes on production of the Model Y compact SUV. “The story for Tesla’s future is fundamentally Model 3 and Model Y,” CEO Elon Musk told investors on a call Wednesday evening. He projected that “in a couple years” customers would demand about 750,000 Model 3s and 1.25 million Model Ys per year, compared with 80,000 to 100,000 Ss and Xs. A letter from the company added that it expects the Model Y to be a more profitable product than the Model 3.
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