Tesla financial Q3 2013 shows record Model S deliveries

Nov 5, 2013

This week the folks at Tesla have shared their financial third quarter of the year results, centering on their star automobile: the Model S. This electric vehicle is now on the road with more than 19,000 drivers across 20 countries, and this quarter saw Tesla's largest delivery numbers in their relatively short history. Tesla also suggests that they're now producing 550 cars per week.

This quarter has certainly been a good one for Tesla Motors, Inc., with a net income of a cool (non-GAAP) $16 million USD. Tesla suggests that with a record 5,500 Model S deliveries, they're well on their way to supporting demand in 2014. They also suggest that they're in a position now to ramp up production "to meet growing demand in 2014".

Tesla reported this week that of the 5,500 deliveries of Tesla Model S vehicles this quarter, 1,000 of them were made straight to European customers. In all, the company's total EXPECTED deliveries are headed toward 21,500 vehicles - per Tesla's estimations.

What's most interesting about this particular report, perhaps, is the rest of the estimations for production from Tesla. They suggest that they're ready to up R&D expenses sequentially by about 25% in the fourth quarter of 2013 - this entirely readied for product development efforts on the Model X and new Model S enhancements. Tesla also suggests that they're ready to spend about $75 to $85 million on capital expenditures in the fourth quarter, this equalling out to be a approximately $250 million for the entirety of 2013.

VIA: Tesla Motors

Must Read Bits & Bytes