Record sales of Tesla's Model S push share prices to value the firm at more than $5bn
2 April 2013

Tesla Motors will announce its first quarterly profit, it has been reported. The news saw its share price rise yesterday, valuing the company at more than $5bn.

Last year the firm launched its second model, the Model S. In the first quarter of the year, it had delivered 4750 units to customers, around 250 ahead of its forecast. The success of the electric four-door saloon means Tesla expects to report a profit for the first time.

According to the FT, Wall Street analysts had predicted a loss of seven cents a share.

Tesla has also announced it will focus on more upscale variants of the Tesla Model S. It has dropped the entry-level version of the car, equipped with a 40kWh battery as it represented just four per cent of sales. 

The Wall Street Journal reports Tesla will honour sales of the 40kWh model by providing a 60kWh version with software limiting the battery's output to the lower level, although it will remove the restriction upon request.

Customers ordering a 60kWh Model S now will get the technology required for the cars to charge using the firm’s Supercharger solar powered charging network. The feature was previously an option on 60kWh models, but standard on 85kWh versions.

 

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Comments
13

2 April 2013

I can afford one on £53 a week.

IDS.

 

 

 

2 April 2013

Go on 'Supertax', don't skimp: have two Tesla 85 kwh. With your rent paid for, children paid for, prescription charges, tv llcence, school meals and bus fares all taken care of, plus that little bit of  moonlighting that we don't talk about......you can easily do it on £ 53.00 a week......;-)

BertoniBertone

2 April 2013

supertax@

You get £71 if your not working.....?

Peter Cavellini.

2 April 2013

Good luck to Tesla. They make the only truly appealing electric cars out there. If I had the money I certainly would have one!

2 April 2013

Why would you use record in the title it makes it sound like they have made billions of dollars.  "Tesla in profit" or "Tesla makes quarterly profit for the first time"

I wonder what there margin is they plan to produce 20K per year @ say an average price of $80K which is a turn over of $1.6 billion not bad.  Are they delivering the claimed 300 miles per charge?

2 April 2013

Walking wrote:

Why would you use record in the title it makes it sound like they have made billions of dollars.  "Tesla in profit" or "Tesla makes quarterly profit for the first time"

It does seem peculiar to use the phrase "record profits" when this is the first time Tesla has made any profit in its ten year history.

Will the company becoming profitable allow the US government to start reclaiming the hundreds of millions of dollars they have provided to Tesla and will it affect the assistance/money it has been given by Toyota and Panasonic?

It does seem funny that the rich buyers of Tesla's get a $7500 reduction in price from the taxpayer whilst the Californian city of Stockton has just gone bankrupt.

maxecat

2 April 2013

Do you mean GBP53 for your weekly charging? have you seen one? Have you driven London to Glasgow and back in a day in one? Don't think so.What about the pollution from the coal fired power station needed to make that power for your green car.What a crock of nonsense!

Madmac

2 April 2013

And facebook is worth $100 billion...

www.KOOOLcr.com

 

2 April 2013

My quote of £53 a week comes from Ian Duncan Smith defending benefit cuts by saying he could live on £53 a week.

Over 200,000 people have now signed a petition saying "do it" for a year to see if he really can.

IDS currently lives on over a £2500  a week!

Although a person over 25 gets £71 a week, 25% council tax is now charged from April when before it was zero. So perhaps the £53/week figure came from that, or it might be for somone aged under 25 who gets less.

£53 for all living expenses including electric/gas/water/clothing/food/cleaning materials/domestic applicances etc...

 

 

 

 

3 April 2013

It is good for Tesla but is it good for the battery electric vehicles?

Tesla Model S and Model X are some of the most beautiful cars I have set my eyes on and they offer upto 250 miles range and performance to match and yet they are undoubtedly prohibitively expensive.

Today I showed Tesla Model S pictures to a friend who is looking to replace his 5-Series and his reaction was this must be at least £50k.

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