Tesla cuts annual production forecast; second-quarter loss widens

 Tesla Motors Inc.'s second-quarter loss nearly tripled as it invested in launching a sport utility vehicle, releasing new versions of its flagship Model S sports sedan and constructing a giant battery plant near Reno. The Palo Alto electric-car company said Wednesday that it lost $184 million in the second quarter, compared with a loss of $62 million a year earlier. Second-quarter revenue rose 24% to $955 million. The company delivered a record 11,532 vehicles in the second quarter and produced a record 12,807 cars, exceeding its previous estimate of 12,500. It expects to produce about 12,000 vehicles in the current quarter. But Tesla downgraded this year's delivery forecast to a range of 50,000 to 55,000 units of the Model S and Model X, the new SUV. Previously, Tesla Chief Executive Elon Musk had said deliveries would hit 55,000...more