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Tesla Either Lost $16 Million or Earned $46 Million in Q4

EV maker set new sales record for quarter with 6,893 units.

by on Feb.19, 2014

Tesla reported a record number of units sold for Q4: 6,893 vehicles. The company sold 22,477 for all of 2013.

In a surprise to no one, Tesla’s fourth-quarter earnings were a mixed bag, depending upon what kind of “bag” you want to use: non-GAAP or GAAP.

The Palo Alto, Calif.-based EV maker reported net income of $46 million, or 33 cents per share, on a non-GAAP basis. Using GAAP reporting, which is typically the standard, the company lost $16 million, or 13 cents per share. The earnings include $15 million in regulatory credits, although no zero-emission vehicle credit sales, the company noted.

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It also secured $13 million in revenue from powertrain programs is has with Toyota and Daimler. Tesla officials noted the reason for providing both GAAP and non-GAAP results is “due to lease accounting for our resale value guarantee (RVG) and employee stock based compensation as a result of the increase in our stock price last year.” (more…)

Tesla’s Model S: All Dressed Up and Nowhere to Go?

Maker’s planned 300-mile battery pack may be effectively unusable – unless you have plenty of time to wait.

by on Jan.19, 2011

Tesla plans to launch production of the Model S sedan sometime in early 2012.

A new video released by Silicon Valley start-up Tesla Motors suggests the maker is moving rapidly ahead with the development of its planned Model S sedan, and may very well make its ambitious target of going to market in 2012.

With a planned price tag under $50,000 – after federal and state rebates, where available – Tesla is hoping the Model S will prove naysayers wrong about the viability and flexibility of electric propulsion.  Notably, to overcome so-called “range anxiety,” the ambitious automaker will offer three different battery packs: a base version delivering 160 miles under optimum conditions, one that pushes to 230 miles, and a third lithium-ion pack that will get as much as 300 miles per charge, about what a motorist might expect on a tank of gas with the typical automobile.

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But company sources acknowledge that the larger batteries, especially the pack providing a 300-mile range, may be not only priced beyond what most motorists could afford – but that few, if any owners would be equipped to utilize its extended range without long layovers between drives.