Tesla Motors Inc. posted net losses of $105.6 million or $1 per share in the second quarter of 2012, compared to net losses of $58.9 million or 60 cents in the same period in 2011. The company logged a 54-percent drop in revenues to $26.7 million. The electric car maker had an 89-cent-per-share adjusted loss, which is smaller than the 94-cent-per-share deficit average 14 analyst estimates compiled by Bloomberg, and wider than the 53 cent-per-share loss in 2011.
Tesla’s losses in the second quarter came as the company ended the sale of its battery-powered Roadster. The electric car maker is now hoping that its Model S sedan, which started production in June 2012, could bring it to profit as early as 2013.
Tesla plans to accelerate the deliveries of the Model S in the second half of 2012. According to Tesla, it has received around 12,200 reservations for the Model S, up from 11,500 at the end of June. Tesla chief executive Elon Musk said that the accelerating pace of reservations makes the company confident that demand will surpass 20,000 Model S units for full-year 2013 deliveries.
Tesla expects Model S deliveries to reach 5,000 units in 2012, giving the carmaker revenues between $560 million to $600 million. The carmaker said it expects to deliver 500 units of the Model S this quarter, with the rest in the fourth quarter. The Model S carries a starting price of $57,400 before a federal tax credit.
What makes the Tesla Model S exceptional is not only that it is the first all-electric sedan but is the best example of how automotive engineering can be evolved. Utilizing a highly unique Tesla architecture allowed the battery to be placed on the floor. This resulted in the Model S having a low center of gravity. As such, it lowers the possibility of a rollover from occurring while improving both performance and handling.
Since there is no engine on the front, the implication is that compared to other performance sedans on the market, there is a larger crumple zone and thus it will be able to absorb energy generated during a front end collision. In addition to having the longest range possible for an electric vehicle, the combination of efficiency, performance, and safety also means that it has the highest safety ratings possible for a 21st century vehicle.
There are a number of safety features included as standard like blind spot detection, collision warning, emergency braking, and lane departure warning. Tesla is also offering as an option various convenience features like autosteer, autopark, summon, and traffic-aware cruise control. Of course, as mentioned earlier, the main reason why the Model S is considered as one of the safest is the distinct platform, specifically placing the electric drivetrain under the car.
The low center of gravity means that rollover risk is reduced. The 5-star safety ratings the Model S achieved from the Euro NCAP and NHTSA should be more than enough to prove just how safe it is.
Even then, testing conducted in the U.S. revealed that the Model S managed to set a new record in relation to the lowest possibility of occupants experiencing injuries. Making the Model S even better is the fact that there are also software updates that can be sent over-the-air.