Skip to comments.Tesla Still Losing Money, But Plans an Early Debut for Its Sedan
Posted on 05/14/2012 2:05:48 PM PDT by Red Badger
The automaker plans to ship its Model S electric sedan in June, rather than July.
Tesla Motors announced today that it is on track to start delivering its Model S in June, a month ahead of schedule. It moved up the date of the first deliveries because its nearly completed testing on 80 cars its built so far.
Tesla continues to lose money. It lost nearly $90 million in the first quarter of 2012, compared to a loss of about $50 million during the same period the year before. Its staying afloat in large part thanks to a Department of Energy loan. It continues to meet the milestones required by the loan, so it still has access to the money, unlike Fisker Automotive, another small automaker selling electric vehicles, which recently fell behind on its DOE milestones and lost access to its loan funds.
Tesla expects a large shot of revenue in the second half of the year, once it starts shipping the Model S. Of the $560 to $600 million it expect to bring in during 2012, 90 percent will come after June. It plans to deliver 5,000 cars this year, and it already has 10,000 reservations for the car.
The expected revenue jump won't necessarily make the company profitable though (see "Will Tesla Survive?"). That could depend on whether the cost of making the car is low enough for it to break even, something that seems unlikely given that it is a completely new vehicle.
Tesla Model S........
I bet they don’t let “Top Gear” test one.
Too bad the MSRP on the S continues to skyrocket. I had hopes for this car but it looks like it’ll only be for the uberwealthy.
“Its staying afloat in large part thanks to a Department of Energy loan.”
Great. Should see repayment any time now.
If you want something to fail, just take a great idea and then involve the feds.
Guess they need to go out on tour again.
I bet they dont let Consumer Reports test one, either.............
In liberalism, It’s the thought that counts..............
I bet they are all bald and fat by now...........
On May 10, 2011, the band played at a rally for the Sacramento Kings of the National Basketball Association. Tesla performed two songs, “Signs” and “Love Song” during the Kings #HereWeRally at Cesar Chavez Park in Sacramento, California to celebrate the team staying in Sacramento for at least one more year. In 2011, they released an acoustic album Twisted Wires and the Acoustic Sessions.
The title reminds me of “Madman” Muntz, who manufactured and sold televisions in the ‘50s and ‘60s with the (paraphrased) motto, “We lose money on every unit but make it up in volume.”
I was going to say that they need to stick to music. Actually, they are quite a good band. They got lumped in with hair metal, but were really more like the 70’s rock bands in style.
The way it is, the way is goes.
80 cars built? and they got how much from the stimulus??
Looks like Tesla has a running garage fire match with Chevy Volt:
Fisker is a different manufacturer.............
Methinks Somebody be skimming off the top......
What is all this B.S.about?We have more petroleum than ANYONE in the world!Why do we need all this B.S.???????????
Oops! Those battery-powered government cars all look alike to me. LOL
They already did, last season.
That's a good one. It's how the liberals expect to eventually make a profit from solar and wind power.