Tesla Motors Reduces 2012 Revenue Predictions After Model S Delays
September 26, 2012 5:01 PM
Model S suppliers are experiencing delays, which has led to slower production of the Model S
Due to a slow
Model S production
increase, Tesla Motors Inc. was forced to cut its 2012 revenue predictions by as much as $200 million USD.
According to Tesla's latest regulatory filing, the electric vehicle (EV) maker reduced its 2012 revenue forecasts from $560 million-$600 million to $400 million-$440 million.
Tesla says the Model S suppliers are
, which have inevitably caused slower-than-expected Model S production. Tesla is about four to five weeks behind on delivery goals for 2012.
"We have methodically increased our Model S production at a slower rate than we had earlier anticipated," said the regulatory filing. "Certain suppliers have experienced delays in meeting our demand and we continue to focus on supplier capabilities and constraints."
Tesla mentioned that it expects a Q3 2012 revenue of $44 million-$46 million. The Model S was set to provide 90 percent of the automaker's revenue for the full-year 2012.
Despite the revenue drop, Tesla won't let the slowed production bring it down. In fact, Tesla is working with suppliers to increase production via automation, faster parts deliveries and offering second shifts for manufacturing.
For the rest of the year, Tesla expects 200-225 Model S shipments in Q3 and 2,500-3,000 in Q4.
As far as 2013 goes, Tesla plans to reach beyond its previous goal of 20,000 Model S shipments by producing 400 autos weekly by the year-end.
As of September 23, Model S reservations were at 13,000 (excluding those already delivered to customers).
Just yesterday, Tesla announced a
Supercharger charging station
for the Model S that will be installed in high-traffic areas at no cost to Model S owners.
The New York Times
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