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Tesla suffers 13th straight quarterly loss

As another quarter passes by in the automotive industry, it's another loss for the Tesla Motor Company.

In the second quarter of 2016 Tesla has a net loss of $293 million which is $184 million up in the second quarter from last year. Either way, the American automotive companies revenue was up 33 percent to $1.27 billion for the quarter.

Another piece of good news is that Tesla says they are steadily making 2000 vehicles a week allowing the company to stay on track to back the 50,000 deliveries in the second half of 2016. Last quarter Tesla was able to distribute 14,402 vehicles around the world.

This is the 13th straight quarterly loss for Tesla which is now trying to find themselves in good standing with quarter 3 and 4 of this year. The plan is to increase production to 2,200 vehicles weekly for quarter 3 and 2,400 weekly for quarter 4. Tesla is optimistic they will hit their goals in the next two quarters.

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