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

Posted By Lidija Grozdanic On April 1, 2013 @ 5:31 pm In Green Transportation,News | 1 Comment

Tesla Motors Model S, Model S electric vehicle, electric vehicles, car company, car industry, electric car industry, clean transportation, green technology [1]

Tesla Motors [2], the pioneering California-based electric car company, announced yesterday that sales of its Model S [3] 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 [4]

“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 [5] 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 [6] gain. Tesla Motors is expected to release its financial disclosure statement today.

+ Tesla Motors [7]

Via Bloomberg [5]


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URL to article: http://inhabitat.com/tesla-motors-turns-a-profit-for-first-time-as-model-s-sales-exceed-target/

URLs in this post:

[1] Image: http://inhabitat.com/tesla-motors-turns-a-profit-for-first-time-as-model-s-sales-exceed-target/tesla-motors-model-s/

[2] Tesla Motors: http://inhabitat.com/tag/tesla/

[3] Model S: http://inhabitat.com/tag/tesla-model-s/

[4] Image: http://inhabitat.com/tesla-motors-turns-a-profit-for-first-time-as-model-s-sales-exceed-target/tesla-motors-model-s-1/

[5] an estimate made by Bloomberg News: http://www.bloomberg.com/news/2013-04-01/tesla-says-it-turned-profitable-as-model-s-sales-beat-forecast.html

[6] stock: http://inhabitat.com/nyc/new-york-stock-exchange-goes-green-with-installation-of-super-insulating-glass/

[7] + Tesla Motors: http://www.teslamotors.com/about/press/releases/tesla-model-s-sales-exceed-target

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