Skip to comments.Tesla sold 5,150 Model S EVs in Q2, future $35k model will have 200-mile range
Posted on 08/07/2013 10:51:24 PM PDT by grundle
Finally, we know the number. Tesla Motors announced today that it sold 5,150 Model S electric vehicles in North America last quarter. Divide by three and you see that the California company sold around 1,700 cars a month, which puts it right up there with the current plug-in vehicle champions, the Nissan Leaf and the Chevy Volt. That's despite the fact that the cheapest Model S, which starts at $69,900 but often sells for a lot more with better options, costs at least twice as much as the sales leaders. Tesla said it was making "almost 500 vehicles per week" in the second quarter of this year.
The sales contributed to an overall increase in net income (non-GAAP) of 70 percent compared to the first quarter, up to $26 million. Tesla said it achieved a gross margin of 22 percent (non-GAAP), "despite significant reduction in ZEV credits" (which was no surprise) and should hit 25 percent by the fourth quarter of 2013. That number is simply a company's sales revenue with the cost of goods sold taken out, divided by total sales revenue. Put it all together and you get the following statement: "Our financial position and balance sheet have never been stronger." Still, there was no talk in today's conference call of an overall profitable quarter, as there was three months ago.
With all of the good financial news, Tesla and CEO Elon Musk said the primary focus now is on "expanding production to meet worldwide demand." Tesla started delivering the Model S to Europe this week (the first lucky countries were Norway, Switzerland and the Netherlands) and if demand there matches North America, which Musk said is likely, then the company predicts "annualized sales for Model S could exceed 40,000 units per year by late 2014."
Musk said the upcoming new-market Model S versions (right-hand-drive for Japan and the Chinese model) are taking up most of Tesla's resources at the current moment. In China, for example, the company is trying to improve the comfort level of the rear seat, because it is common for people in The People's Republic to be driven around. The Model S was designed to be the perfect driver's car, Musk said, but in China it will have an "executive back seat" instead of the "family back seat" the car has now. Things like this mean that work on the Model X won't really start to ramp up until the end of this year. Deliveries of that car should start at the end of 2014.
Looking further down the road, Musk said that the next-gen Tesla vehicle, the long-rumored $35,000 (without any subsidies) EV, should be a compelling option with a 200-mile range. That vehicle is still quite far away he wondered aloud how his company might need more battery cells than the laptop industry does if it's making a half-million cars a year but at least his automotive competition now has targets to shoot for if they want to beat Tesla in the longer-range EV game.
They must’ve sold more than that.
I know of 5 or 6 here in my lil town of 50,000 and I pass em all day long on the freeway.
They were every where in Los Angeles, San Diego and even on the border a week ago.
Maybe they were following me?
Any 15 year old POS used car that sells for less than two grand has a better range than that and can be re-fueled in minutes. My $100 30-year-old Mercedes has a better range than that. Please explain to me the upside of the Tesla vehicles.
My 22 year old specialized Hardrock mountain bike has better range than the Tesla (though, it’s doubtful I would be able to do that range at my current age).
Why would I pay $70,000 for a golf cart? IMO very few automobiles are worth more than about $20,000.
I wouldn’t want to go on a cross country trip in one!!!
I fail to see reason for the hostility many folks calling themselves conservative have to EV’s.
If there is a market seems to me there should be no problem...personally I think the torque/weight ratio is going to make those suckers very very fast with a few modifications..
Cant wait to get mt hands on a used EV.
IIRC, you’ll get a big shock when you have to replace all those batteries. Some people who have hybrids have already found that out to their chagrin. When the price comes WAY down and the range goes WAY up I’ll research them again. BTW, speaking of “alternative energy” vehicles, have you seen the Honda Civic Natural Gas?
I’ve never purchased a new vehicle. IMO they are most all overpriced. I’ve never paid more than $11,000 for a used vehicle. Our Dodge Durango we paid $10,000 for. It had under 100k miles when I purchased it in 2005. Currently I have 247k+ miles on it. I plan to put another 100K on before replacing it. My last vehicle, a Plymouth Grand Voyager, which had 75k miles when we bought it, had 385k miles when we replaced it. We put over 200k miles on an 1988 Ford Taurus, and 200k+ on a 1983 Chrysler New Yorker 5th Ave (both had more than 300k miles total). We get our money’s worth out of our vehicles.
A friend shared that three people he knew were test driving an EV. Their destination was 150 miles away. It took them three days to reach their destination.
Hostility towards the "concept" of an EV? No! Hostility towards those who have been touting EV's as a present day replacement for the internal combustion engine? Absolutely. Perhaps, and I stress perhaps, one day EV's will evolve into a viable mode of transportation. At the present time it is a local commuter, period. And, I mean local. My commute to work is two+ hours one way. An EV is worthless to me. Then there's the battery disposal and replacement problem. The batteries are not cheap, and neither is proper disposal. Additionally, those who make the false claim that EV's are a eco-friendly vehicle need to have the taste slapped out of their mouth. Where does the electricity come from that these vehicles require to be recharged with? It ain't from clean energy (whatever that means). EV's are purely a STATUS symbol. LOOK AT ME I HAVE A PRIUS; TESLA; whatever! I'll stick with my internal combustion vehicle which can take me up to 500 miles on a single tank of fuel, thank you. And, do so with very little in the way of emissions, too.
200 miles is nothing in LA. I cover that in no time.
You will in the next version.
1st up you are paying for a top of the line luxury car. Even if you treat the electric motor as a novelty,the car is worth the price for the way it drives. From a national interest perspective I can’t wait for a day when all we run are electric cars that can be charged with a solar panel on your roof. That is the definition of individual freedom. Beggaring a host of countries that seek to murder non-Muslims is a huge added bonus. The subsidies are a sidelight and a sort of pinprick for a larger goal. Subordinating everything to the belly in the short term and helping dim witted jerks to kill us is the definition on a non-conservative.
Not in rush hour traffic you don’t.
Agreed. I don’t do “rush hours”.
Rich man’s toy/status symbol. I don’t think anyone is getting these to be a daily driver.
BTW I don't want a hybrid I want a used pure EV to play with don't like the term but I'm an early adapter/pick er up er/what ever they call it/fiddler.
Your hostility argument seems to me to be argument without a distinction...but its like most conservative argument in that it is based on what will work in fly over country..
How much damage to the environment does battery manufacture and electrical supply for electric cars cause? Much!