Tesla Reports Second Quarter Losses, Has High Hopes with Model S Sales
July 27, 2012 2:25 AM
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.
"I'm an Internet expert too. It's all right to wire the industrial zone only, but there are many problems if other regions of the North are wired." -- North Korean Supreme Commander Kim Jong-il
Tesla to Begin Shipping Model S June 22
May 23, 2012, 11:16 AM
Tesla Model S Could Land 265-Mile Range Rating from the EPA
May 15, 2012, 6:27 PM
Tesla Motors Unveils All-Electric "Model X' Crossover
February 9, 2012, 11:14 PM
Tesla Motors Says Model S '12 Production Run Sold Out, Will be Profitable in '13
October 28, 2011, 6:52 PM
Jaguar I-PACE – Jaguar’s New Electric Concept / New SUV
November 16, 2016, 5:00 AM
Car Insurance - The Hidden Discriminatory Practise
October 18, 2016, 5:00 AM
End of the Road for the Audi R8 e-tron
October 15, 2016, 5:00 AM
Paralyzed Race Car Driver Recieves Nevada License
October 12, 2016, 5:00 AM
Take a Glance at the Cars of the Paris 2016 Motor Show
October 4, 2016, 5:00 AM
Automaker Porsche may expand range of Panamera Coupe design.
September 18, 2016, 11:00 AM
Most Popular Articles
Sales Battle - Apple iPad Mini vs Samsung Galaxy Tab
November 29, 2016, 12:36 AM
Phillips 55’ 4K Smart TV – Is This Really a Deal? We Think So.
November 25, 2016, 9:44 AM
PlayStation 4 Pro – 4K Console for 4K TVs
November 28, 2016, 1:00 AM
Lenovo Yoga 900 and Lenovo Yogo 900S – Powerful Performance in an Ultra-Thin Packages
November 27, 2016, 5:00 AM
Best Phones of 2016 - Priced under $650.00
November 27, 2016, 5:00 AM
Latest Blog Posts
Dec 4, 2016, 5:00 AM
Dec 3, 2016, 5:00 AM
Dec 2, 2016, 5:00 AM
Surface Ergonomic Keyboard
Dec 1, 2016, 3:01 AM
Chapeconense plane crash: Football rallies around Brazilian Team
Nov 30, 2016, 1:00 AM
How to Extends Your iPhone’s Battery Life
Nov 29, 2016, 12:49 AM
Nov 28, 2016, 1:12 AM
News: Fidel Castro
Nov 27, 2016, 5:00 AM
Nov 26, 2016, 5:00 AM
Changes in Social status affect the way genes turn on and off within immune cells.
Nov 25, 2016, 5:12 AM
Austrian far–right hopeful Hofer may back EU vote.
Nov 24, 2016, 4:00 AM
Final Fantasy XV Leaked Before Nov 29 Launch Date
Nov 23, 2016, 1:00 AM
Nov 22, 2016, 2:26 AM
Nov 21, 2016, 1:00 AM
HTC Makes Big Moves in China
Nov 20, 2016, 2:00 AM
Do you know who is the number one company in the word?
Nov 19, 2016, 5:30 AM
Foldable Cardboard ”EcoHelmet” wins James Dyson Award’s Top Prize
Nov 18, 2016, 2:39 AM
Scientists Discover Roundest Object Ever Spotted in Universe
Nov 17, 2016, 1:00 AM
Smallest Device Lets You Print Almost from Anywhere
Nov 16, 2016, 9:32 AM
Cancer Screening in the Community Is there a link between Cancer and Poverty?
Nov 15, 2016, 8:00 AM
More Blog Posts
Copyright 2016 DailyTech LLC. -
Terms, Conditions & Privacy Information