Tesla sees significant rise in revenues in second half of 2012

Article by Anita Panait, on February 17, 2012

Tesla Motors Inc. expects its revenue to substantially rise in the second half of 2012 when it commences the sale of its new Model S sedan. In its latest financial results, the company forecasts that its revenues in 2012 will soar up to $600 million, with around 90% coming in the second half.  The projected 2012 revenues will almost triple the company’s reported revenues in 2011 at $204 million.

 Elon Musk, chief executive of Tesla, confirmed in a conference call yesterday that the bulk of the 2012 revenue is “Model S-related."  The electric car company plans to roll out up to 5,000 Model S vehicles this year, production of which commences mid-2012.

The company is ending the production of it $109,000 Roadster sports car and is trying to sell the final 330 units this year.

Until it begins the deliveries, Tesla has no major source of revenues other than supplying battery packs and other parts to Toyota Motor Corp. and Daimler AG, two of its investors. The company’s net loss for the fourth quarter of 2011 was 78 cents a share, higher than the net loss for the same period in 2010 at 54 cents a shares. 

Excluding some items, Tesla’s loss for the fourth quarter of 2011 was 69 cents a share, higher than the loss for the same period in 2010 of 67 cents a shares, says Autonews.

The company’s fourth quarter per share net loss was higher than the average estimate of 11 analyst surveyed by Bloomberg News at 62 cents per share. In its statement, Tesla revealed that it is commencing a project with Daimler to develop a new Mercedes-Benz vehicle with a full Tesla powertrain -- including batteries, a motor and electronic controls and software.

Topics: tesla

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Back in 2009, Nissan first introduced the Nissan Leaf, the company’s first all-electric vehicle. LEAF stands for Leading Environmentally-friendly Affordable Family car and this particular EV has been considered as...
by - December 3, 2016
In the minivan segment, the 2017 Chrysler Pacifica is already impressive in terms of fuel economy figures – as rated by the United States Environmental Protection Agency. In fact, the...
by - December 2, 2016
Having a blacked-out Bentley Mulsanne Speed is already menacing by itself but by naming it as the Bamford X, it became all the more imposing. This model was made by...
by - December 2, 2016
We have good news for those who are waiting for the latest version of the Mazda CX-5 compact crossover. It was just unveiled in November at the 2016 Los Angeles...
by - December 2, 2016
Those familiar with racing know that Marco Wittmann’s win during the 2016 Deutsche Tourenwagen Masters held last May was noteworthy as it was his second title in four seasons. In...
by - December 2, 2016
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries