Jump to content



Advertisement

Tesla Revises Forecast For 2012

Tesla Model S Forecast Loss

William Maley
Staff Writer - CheersandGears.com
September 26, 2012

On the surface, everything seems bright and sunny at Tesla. The company has begun production of the new Model S sedan, introduced a new charging network for Model S drivers that uses solar energy, and is in the process of planning new models. But, Tesla is showing some signs of setbacks of becoming an automaker.

In a recent Securities and Exchange Commission filing, Tesla has downgraded their full-year revenue forecast from $550 - $600 million to $400 - $440 million.

"We have methodically increased our Model S production at a rate slower than we had earlier anticipated," Tesla said in the filing.

Tesla says it's about four to five weeks behind its delivery goals due to supplier delays. The automaker says that it is working with suppliers to speed up deliveries.

Tesla also revealed in their filling that have a net cumulative loss of $864.9 million through June 30 of this year. This isn't surprising considering learning to build vehicles and then build them adds up.

This report caused shares in the company to tumble about 8.5% yesterday morning.

Source: Reuters, Tesla Motors

William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.com or you can follow him on twitter at @realmudmonster.

1 Comments

WHO CARES, a car for the 1% crowd and over rated as it is not a car for road trips, just showing off and commuter.

It will never be for the masses and not have any real affect on society. If they want to have a big affect and make money, then license their supposed 300 mile electric technology to the big auto companies to get it to the masses.
    • 0
  • Quote

or Sign In


Advertisement

Reviews

Review: 2016 Fiat 500X Trekking Plus and Jeep Renegade Limited

Missing the mark in the subcompact crossover class

Review: 2016 GMC Canyon SLT Crew Cab & Toyota Tacoma Limited Double Cab

Looking at the current state of midsize trucks

Quick Drive: 2016 Volkswagen Passat V6 SEL Premium

The most expensive model makes the case for buying one of the lesser models


Advertisment

About Us

Founded - 2001
We Cars

Contact and Info

Pittsburgh, PA 15221
Phone: (412) 879-0455
Email: admin@cheersandgears.com