Detroit Bureau on Twitter

Posts Tagged ‘Tesla loses money’

Tesla Posts Q4, Full-Year Loss

Company says Model 3 launching in July, full volume in September.

by on Feb.22, 2017

Tesla's Elon Musk dismissed concerns about possible delays involving the Model 3, which is slated to begin production this summer.

Tesla’s founder and leader Elon Musk dismissed concerns about the much-anticipated launch of its mainstream vehicle, the Model 3, this summer, noting the substantive differences between it and the preceding vehicles.

Musk noted during the maker’s Q4 earnings call, that the Model 3 is a much less complicated vehicle than its predecessors, lacking some of the gee-whiz technology like the self-presenting door handles.

Electrifying News!

Additionally, the company has a track record of success, in terms of production, so suppliers are providing the company with their “A-teams,” making for fewer problems and constraints. Finally, he noted that it’s the company’s fourth time through process and the learning curve will reflect that. (more…)

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.

Your High-Performance News Source!

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…)