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Tesla Model S

Tesla Model X
Tesla posted a revenue decrease of $26.7 million from $58.9 million a year earlier

Tesla may have a winner on its hands with the Model S' recent release, but the electric vehicle (EV) company still reported financial losses for Q2 2012.

For the second quarter, Tesla posted a revenue decrease of $26.7 million from $58.9 million a year earlier. It also reported losses for the quarter of $105.6 million (89 cents per share) from $58.9 million (53 cents per share) last year.

Tesla is in transition mode at the moment. It's currently going from only selling a few thousand of its Roadster battery electric vehicle sports car, which goes for about $109,000, to now selling its first full production vehicle, the Model S.

The Model S was initially announced three years ago, and finally shipped June 22. The Model S comes in three different versions, with 40 kWh, 60 kWh or 85 kWh battery packs. The lower-end 40 kWh base model will sell for $57,400 while the higher-end model will sell for $105,400. The Model S is eligible for the $7,500 federal electric tax credit as well.

It was recently reported that the 85 kWh model could earn a 265-mile driving range window sticker rating from the EPA, which would put the Model S far ahead of the electric competition.

The Model S has proved to be quite popular with Tesla having 10,000 reservations for the vehicle before it shipped. Having the Model S onboard will definitely help Tesla as it moves toward becoming profitable. Up until now, it has reported losses of over $500 million since 2009.

"We are maintaining our revenue guidance of $560 million and $600 million and our Model S volume projection of 5,000 units for 2012," said Tesla in a letter to shareholders. "We expect to deliver approximately 500 vehicles to customers in Q3 with the balance delivered in Q4."

The next step on Tesla's list is to build its Model X crossover late next year.

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RE: well
By Dr of crap on 7/27/2012 12:14:28 PM , Rating: 2
Well said!
If only more had these feelings!

The thing that Telsa has going that others might not, is the status thing. If you have the cash and want to give the outward apperance of "caring, going green" then you might go for the Tesla. Not to mention it's kind of the sports car of the EV world. I'd drive a Tesla over ALL of the battery powered or hybrids any day!

RE: well
By Shig on 7/27/2012 3:49:39 PM , Rating: 2
Tesla is never going to make a <20,000$ electric car. It makes luxury cars.

Their next 'cheap' model will be priced similar to a 3 series BMW. ~36k, then if the tax credit is still around it could go for 29,999$.

Their full car lineup will look like Mercedes, Audi, BMW. They'll have two premium sedans (Model S + new cheaper model), an SUV (model X), and a supercar coupe (newly redesigned roadster).

RE: well
By Ammohunt on 7/27/2012 3:50:37 PM , Rating: 2
Guy where i work owns a tesla coupe 2 seater(not sure what model) but you can tell its either a mid life crisis or he is compensating.

RE: well
By Shig on 7/27/2012 4:05:54 PM , Rating: 2
Porsche and Ferrari have been milking those for years :)

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