Tesla to post first-ever profits


Tesla Motors announced this weekend that it’s set to announce a quarterly profit for the first time in its 10-year history.

Model S has sold better than expected
Model S has sold better than expected
The California-based electric car manufacturer has revealed that sales of its new Model S saloon topped predictions, with final registration figures totalling 4,750 – 250 above Tesla’s target. It’s a milestone moment in the company’s history, and will undoubtedly be a relief for Tesla’s outspoken founder Elon Musk, who’s had to contend with a run of negative PR in past months. “There have been many car start-ups over the past several decades, but profitability is what makes a company real,” he said. “Tesla is here to stay and keep fighting for the electric car revolution.” The news contrasts the problems faced by embattled eco car maker Fisker, currently struggling with battery supply issues and feeling the heat after the resignation of its founder.

As part of the announcement, Tesla also confirmed that it will drop the slow-selling 40kWh version of the Model S, focussing instead on the faster and longer-range 60kWh and 85kWh versions.

Tesla’s announcement caused the company’s share price to jump by more than a fifth, with the result that the company is now valued at around £3.3 billion. It’s also promising news for recent start-up Detroit Electric, which hopes to follow the path Tesla’s trodden by commencing production of an electric Lotus-based roadster, before expanding into the manufacture of further models.

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Comments (122) Join the discussion on the forum

  • green-blood 02 Apr 2013

    As part of the announcement, Tesla also confirmed that it will drop the slow-selling 40kWh version of the Model S, focussing instead on the faster and longer-range 60kWh and 85kWh versions.


    Its just a money making exercise, the environment stuff is pure bluster. How many millions of US tax dollars have been invested in this company??

    They made a profit on a qtr, the company is MASSIVELY in debt

  • RumpleFugly 02 Apr 2013

    ...and the first step towards repaying that debt is to be making a profit!

    Jeez, can we give these guys a chance, there's obviously the demand there.

  • kambites 02 Apr 2013

    green-blood said:
    Its just a money making exercise...
    Well of course it is, all car companies are.

  • PascalBuyens 02 Apr 2013

    IF I would ever consider an electric car, this would definitely be on my list...

  • Captain Muppet 02 Apr 2013

    green-blood said:
    Its just a money making exercise, the environment stuff is pure bluster.
    All the people who genuinely care about the environment kill their children and then themselves. Everything else is just lifestyle choices.

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