Tesla Reports Promising Financial Situation for Q2 and the Future
Tesla is officially off the ground as a ‘real’ car manufacturer, despite having only one ‘commercial’ model in its range, the newly-launched Model S sedan.
Despite posting a $105.6 million loss, the company did receive $27-million from sales revenues, and while a loss may not sound like such a good thing, they still have access to around $233 million in cash, as well as an expected revenue by the end of the year around the $600-million mark.
Also, with their production schedule for the coming period diminished, this has had an effect on the company’s stocks which fell from $36 to just under $29. However, they have already increased their production capacity to 10 cars per week, as opposed to the original 5.
They plan to make 500 cars in Q3, with an additional 4,500 coming in Q4, before reaching their 2013 target of 20,000 units per year, with some speculating that they could even make 30,000 cars next year – we hope they do!