Tesla expected to post a profit in the first quarter of 2013, due to Model S high sales

Article by Christian A., on April 4, 2013

Due to the unexpected high sales of the Model S electric sedan, Tesla Motors will be able to post a profit in the first quarter of 2013. Tesla sold 4750 units of the Model S, much higher than the 4500 units it was targeting. Tesla had lost nearly $400 million in 2012. It had boosted production but it only sold 2650 units of the Model S.

In a statement, Tesla CEO Elon Musk said that in the past few decades, there had been numerous car start-ups but for a company to be ‘real’, it has to be profitable. He added that Tesla will continue to fight for the ‘electric car revolution’. Tesla also revealed that it will make two revisions to the lineup.

The first change is that Tesla has scrapped the low-range, 40-kWh version of the Model S. Just 4% of its buyers asked for the smallest battery, making it financially tough for Tesla to assemble that version. Buyers will get the next biggest battery pack, which has a capacity of 60 kWh.

However, the car’s software will maintain the range equivalent to that of the 40-kWh pack except if owners put up some cash to get an upgrade. Furthermore, Tesla divulged what it dubs as an Easter egg in the new Model S.

Tesla was expected to offer the hardware to use its Supercharger fast-charging network as optional but it has actually been included in all Model S versions. If customers have to use the Supercharger network, all they need to do is pay for a software update to “unlock” the function.

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