Last month, when we reported auto sales data, we noted that this month would be all about replacement demand from Hurricane Harvey and thus largely irrelavant. Fast forward 30 days and that appears to be exactly what has happened as annualized auto sales for the month of September suddenly surged to a 30-year high of 18.5mm units, up 15.2% sequentially from a 16.0mm run-rate last month.
Last month we noted that Tesla really outdid itself in 2Q 2017 by posting a record cash burn of $1.2 billion, or roughly $13 million every single day. Per the chart below, Tesla's Q2 cash burn was just a continuation of the company's money-losing trend that goes back at least 6 years and seems to be getting worse with each passing quarter.
But Tesla isn't alone in burning cash on "EV's" as pretty much every electric vehicle offered to customers loses money on a per unit basis.
Content originally published at iBankCoin.com
Yesterday, in its latest triennial Survey of Consumer Finances, the Fed admitted what had been obvious to everyone else: Fed policies unleashed over the past decade have made the rich richer, even as the American middle class has continued to shrink.
Authored by John Ivison via NationalPost.com,
Participation in the ballistic missile defence program would be costly, but, amid nuclear threats, it appears Canada is no longer under the protective umbrella of the U.S.
Politicians approach most subjects with open mouths, but they are rarely at a loss for words.
That’s why the testimony at a House of Commons defence committee, specially convened to consider the thorny problem that is North Korea, was so memorable.