Tesla Logged $713 Million In Revenue In Q1 and Built 7,535 Cars

cartechboy (2660665) writes "Tesla just announced its first-quarter earnings and the numbers are interesting. It logged revenue of $713 million on deliveries of 6,457 Model S electric cars. It's worth noting that's basically the number of vehicles it said it would sell in the quarter, but that number is slightly down from the prior quarter. It built a total of 7,535 Model S cars in the quarter as it built inventory as shipments began to China where sales just started last month. Net orders in North America grew 10 percent, and production for the second quarter is expected to increase to 8,500-9,000 Model S cars. Tesla expects to deliver 35,000 cars during the 2014 calendar year. Musk told analysts that China's enthusiastic and that government support is crucial. The Model X is delayed until spring of 2015 with production-design prototypes being ready in the fourth quarter. Tesla hopes to possibly break ground as early as next month on its gigafactory, though the location has yet to be announced. Of course, the stock market is already reacting to these numbers and is currently down nearly 3 percent in after hours trading."

Comments

Nothing odd at all

[sjbe]

How can you have a revenue of 731 M$ while producing in the same period about 500 M$ worth of merchandise?

Because Tesla doesn't just make money selling cars. Read their financial statements and they'll detail their sources of revenue. Nothing particularly surprising there. Honestly I wouldn't be surprised to see Tesla end up making a big portion of their revenue manufacturing battery packs and power trains for other auto makers.

Re:At a loss

[AmiMoJo]

They were not planning to make a profit at this point. It's part of the long term strategy. Fancy that, a CEO who can see past the next quarter's results!