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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.

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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…)

Early Launch of Model S Offsets Concerns About Widening Tesla Losses

New battery sedan to go on sale in June.

by on May.10, 2012

Tesla Motors CEO Elon Musk with Model S prototype.

It’s never easy making money when you don’t have a product to sell.  Just ask Tesla Motors.  While the California start-up does have a small income stream from its contract work that wasn’t enough to head off a nearly $90 million loss for the first quarter.

But things could start changing in a hurry, according to Tesla, as the battery-car maker is apparently looking for a much earlier launch than originally planned for its new Model S sedan.  Meanwhile, Toyota is also ready to start rolling out the new RAV4-EV it has developed as part of a partnership with Tesla – which could yield even more new business.

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Tesla is describing 2012 as a “year of two halves.”  Clearly, it would rather get through the first half as quickly as possible.

With the little Tesla Roadster now out of production the company generated just $30 million in revenue during the January to March quarter, down from $49 million a year ago.  As a result, it saw losses shoot to $89.9 million, or $0.86 a share, compared to $48.9 million, or $0.51 a share a year ago.

(more…)