Tesla still in red, but the Model S sales are going well
Despite record production of Model S electric vehicles, Tesla Motors posted a net loss in the first quarter. Indeed, the increase in costs related to the future launch of the Model X crossover bring a net loss of 49.8 million dollars. The automaker posted net income of 11.3 million dollars during the same quarter last year.
In contrast, thanks to the production of 7,535 Model S electric vehicles and sales exceeding expectations with 6,457 units sold, the company of Silicon Valley, led by Elon Musk, has seen turnover soar by 10% compared to January-March 2013 to 620,5 million dollars, (but only an increase of 1% on the previous 4th quarter 2013). Tesla aims to sell approximately 35,000 Model S throughout 2014.