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.

If you liked the article, share on:

Comments

Recommended

The first time Porsche revealed the Panamera Sport Turismo to the public was during the 2017 Geneva Motor Show earlier this year. And now it has already entered production, and...
by - July 27, 2017
Autocar has got some juicy rumours for us regarding a new McLaren hypercar. The British publication has inside sources claiming that a new model will be added to the Ultimate...
by - July 27, 2017
Ferrari has recently launched the New Power15 extended warranty program. The company developed this program in response to the notion that supercars are very expensive to maintain. Truth be told,...
by - July 27, 2017
The UK it seems is about to take the same road as its neighbouring country France by banning sales of petrol and diesel vehicles beginning 2040. As reported by The...
by - July 27, 2017
What has BMW been up to lately? The company recently announced that they are currently focusing on electrification, and so far, their new architecture will enable “electrification of every model...
by - July 26, 2017
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