Tesla Motors reaches profitability on brisk Model S sales

Tesla Motors has been promising investors that it expects to be profitable in the first quarter of 2013.

Apparently they’ve done it. Tesla Motors announced Sunday that it has sold more than 4,750 Model S sedans this quarter, higher than its 4,500 unit outlook. The revised sales figures means that Tesla is amending its Q1 guidance to “full profitability,” both on a GAAP and non-GAAP basis.

“There have been many car start-ups over the past several decades, but profitability is what makes a company real. Tesla is here to stay and keep fighting for the electric car revolution,” said CEO Elon Musk.  “I would also like to thank our customers for their passionate support of the company and the car. Without them, we would not be here.”

The Model S has been available with three battery pack options that offer roughly 160, 230 or 300 miles per charge. Tesla also announced Sunday that it is scraping production of the least powerful, 40 KWh battery pack, due to lack of demand: only four percent of customers who placed reservations chose the 40 KWh option.

So is this what Elon’s cryptic tweet was all about?

No. For that, stay tuned on Tuesday.

 

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  • http://ocampoelectronics.8m.com/ DAVID

    Great news for Tesla, but when you think about the fact that these sales figures are so miniscule in comparison to the industry, the long-term survivability prospects of the company seem infeasible.

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  • http://boycotttesla.wordpress.com Randy Temps

    I saw this posted and wanted to get thoughts: “Is this a credible product? Tesla Motors is under Fed

    investigation for bribery & corruption; Musk stole the company from Martin the founder; Tesla has been

    sued many, many times for misdeeds; Tesla took taxpayer $$ yet hired off-shore workers and fired NUMMI

    union workers; Their batteries blow up when they get wet or overcharge; They owe more $ than they can

    ever pay back. The Leaf does the same thing for $100k less. The billionaire owner got free tax money

    without earning it; Goldman, K&L Gates, KPCB & their investors put in fake car orders and fake stock buys

    to pump the stock; They lied to San Jose, Downey, New Mexico and many cities about building a factory in

    each; The CEO cheated on his wife & business partners; The CEO hires magazines to write glory-stories

    about him; Telsa has 30 Indian bloggers hired to write fake user postings; The EMF from the car is

    measured to cause biological damage; They changed the prices on customers after they ordered; They never

    get their costs right; each car coming off the line has problems according to Musk himself; Selling 4K

    cars after a decade is a pathetically small # for such
    a run-of-the-mill electric car; They announce they “intend” to pay the loan back early, yet do not

    actually pay it back even though the owner has a billion dollars; Former staff have accused the CEO of
    everything from spying to harassment; The public calls the car the “Solyndra-Mobile” and say it is an
    “Un-American Product”; It is made, and priced, by and for Stanford elitist yuppie rich boys; The same six
    writers that support Tesla have been shown to be paid shills; All of this is well documented. Wouldn’t
    anyone be ashamed to drive a Tesla?”

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