Tesla Reports Second Quarter Losses, Has High Hopes with Model S Sales
July 27, 2012 2:25 AM
comment(s) - last by
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.
This article is over a month old, voting and posting comments is disabled
7/29/2012 12:36:51 PM
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.
"I want people to see my movies in the best formats possible. For [Paramount] to deny people who have Blu-ray sucks!" -- Movie Director Michael Bay
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
Hot Air? President Obama, G7 Pledge to Eliminate Most Fossil Fuel Use by 2100
June 8, 2015, 5:40 PM
Study Predicts Self-Driving Vehicles Could Rake in Billions
March 6, 2015, 8:34 AM
Dual-Motor Tesla Model S P85D's "Insane Mode" Shocks Passengers
January 28, 2015, 11:18 PM
2016 Cadillac CTS-V Packs 640 hp Punch with 200 mph Reach
January 23, 2015, 3:25 PM
BMW Testing Tech to Allow Users to Auto-Park, Summon Cars Via Smartwatch
December 16, 2014, 9:30 AM
Lamborghini Offers Up $6,000 Leather-Bound Android Smartphone
December 12, 2014, 3:12 PM
Most Popular Articles
Worth the Wait? Microsoft Teases at Windows 10 Flagship Phones to Air Oct. 6
September 15, 2015, 5:13 PM
Apple's First Fixes to iOS 9 Land w/ iOS 9.0.1 Release
September 23, 2015, 6:11 PM
Breaking Bad: How to Crash Google's Chrome Browser With Just 8 Characters
September 23, 2015, 11:08 AM
Apple Watch Commands 2 in 3 Smart Watch Sales, WatchOS 2 Sweetens the Pitch
September 20, 2015, 6:07 PM
Fakebook Pt. I: From "The Chive" to "AskMen"; How Facebook's Phonies are Born and Used
September 15, 2015, 4:00 AM
Latest Blog Posts
Sceptre Airs 27", 120 Hz. 1080p Monitor/HDTV w/ 5 ms Response Time for $220
Dec 3, 2014, 10:32 PM
Costco Gives Employees Thanksgiving Off; Wal-Mart Leads "Black Thursday" Charge
Oct 29, 2014, 9:57 PM
"Bear Selfies" Fad Could Turn Deadly, Warn Nevada Wildlife Officials
Oct 28, 2014, 12:00 PM
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
More Blog Posts
Copyright 2015 DailyTech LLC. -
Terms, Conditions & Privacy Information