Lidija Grozdanic

Tesla Motors Turns a Profit for First Time as Model S Sales Exceed Target

by , 04/01/13
filed under: Green Transportation, News

Tesla Motors Model S, Model S electric vehicle, electric vehicles, car company, car industry, electric car industry, clean transportation, green technology

Tesla Motors, the pioneering California-based electric car company, announced yesterday that sales of its Model S sedan exceeded expectations. The company expected to sell 4,500 units of the Model S in the first quarter, but by last weekend sales had surpassed 4,750. According to Tesla, the company, which has been hemorrhaging money in recent years, turned a profit for the first time in the first quarter of 2013.



Tesla Motors Model S, Model S electric vehicle, electric vehicles, car company, car industry, electric car industry, clean transportation, green technology

“There have been many car startups over the past several decades, but profitability is what makes a company real,” said Tesla CEO Elon Musk in a statement. “Tesla is here to stay and keep fighting for the electric car revolution.”

Tesla’s Model S vehicle sales exceeded 4,750 units vs. the 4,500 unit prior outlook, according to the company. However, an estimate made by Bloomberg News shows a loss of 11 cents a share. Bloomberg’s estimate noted that Tesla fell 27 cents (0.7%) on March 28, with a 12 total annual stock gain. Tesla Motors is expected to release its financial disclosure statement today.

+ Tesla Motors

Via Bloomberg

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1 Comment

  1. msyin April 4, 2013 at 2:59 pm

    I love this company! I am not surprised that things are going well for them and for Nissan. I have seen the upswing in the sales of EV’s here in Georgia as I drive around. I’ve even been lucky enough to see a Tesla here though Georgia is still waiting for their dealership to open. I can’t wait to go to the opening and I am so happy to see Leafs around town, sometimes charging at a local Walgreens. I am looking forward to more choice as well as more great news.

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