Print 16 comment(s) - last by EricMartello.. on Jul 29 at 6:59 PM

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.

Comments     Threshold

This article is over a month old, voting and posting comments is disabled

RE: well
By boeush on 7/27/2012 4:49:43 PM , Rating: 2
Electric vehicles just can't work for enough people for Tesla to seriously make it big. Especially at those prices, as you've pointed out.
I don't suppose Porches or Lamborghinis work for enough people, either. Explains why they don't exist, don't it?
People don't want electric vehicles.

It's all about range (for some) and price point (for others.)

Tesla's starting to address the range. For me personally, 500 miles would be the threshold where I no longer consider range to be an issue. Looks like with Model S Tesla's about half-way there. The R&D needs to not only continue, but to accelerate. And I'm perfectly fine with the government at least sponsoring it, if not directly funding it. I'd go so far as to say it's a national security issue.

Price will inevitably come down over time, as volumes ramp up and competition comes in from the Chinese and other third-world slave economies with which we have stupidly/suicidally established "free trade" (a.k.a. "giant sucking sound") relations.

Regardless, electric vehicles are the future. Gasoline vehicles are doomed to go the way of the horse buggy. Do people still ride horses? Sure, as a hobby...
I think at this point, that's a fair and balanced observation.
Quoting FOX propaganda slogans is normatively symptomatic of a brain washed so clean, it might no longer evince a detectable mind.
Even the Volt, which eliminates range anxiety and has gotten TONS of hype and PR, has failed.
The Volt is a crappy design, and a crappy car. That's because it's a GM product, not because it's an electric hybrid. The Prius plug-in is now out, and Ford's C-Max is coming soon. Everything you're now saying about pure-electrics, tools like you used to say about hybrids. You were wrong then, and you are still wrong now.
End the subsidies, stop bailing out Tesla and the others with these absurd Crony "loans", and let's move on.
And let's also stop bailing out Wall Street. Let the whole financial system blow up and take us all out with it. It'll make us all feel better, assuming we survive the blast... Tongue only slightly in cheek.

I'm actually all for it, but unfortunately most of our nation has turned into a bunch of spoiled and frightened pussies. (Not that our finances won't blow up eventually regardless -- ala the PIIGS -- just as soon as the rest of the world has done blowing up. The math is what it is... Certain people have long wanted to drown government in a bathtub, and/or starve the beast; their multidecadal project will soon and finally bear fruit, except the beast is the 99%, and the ones drowning are the underwater "homeowners", the over-indebted students, and the working poor -- IOW, the newly reconstituted indentured servant class. (Unfortunately, starved beasts have a habit of becoming very dangerous, indeed... We might within the next decade or so experience a reprise of the early 20th-century revolutions. But I digress.)

RE: well
By sowhy on 7/29/2012 12:36:51 PM , Rating: 2
boeush - Great to see there are still a few forward thinkers on this planet. I will DEFINITELY buy one if they can get it to about 40k.

Investing in technology and manufacturing rather than Wallstreet is the way to go.

"Young lady, in this house we obey the laws of thermodynamics!" -- Homer Simpson

Copyright 2016 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki