Tesla posts a 500% increase in Q4 2012 revenue

Feb 20, 2013
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Tesla posts a 500% increase in Q4 2012 revenue

Tesla has been having a rough week with the whole New York Times fiasco, but it seems Elon Musk and company are going to put that all behind them as the company has reported its Q4 2012 earnings. Tesla made $306 million in revenue during the quarter, which is up a staggering 500% from the previous quarter.

The company has reported that they delivered around 2,400 Model S sedans during the fourth quarter and made a $12.7 million principal payment on their loan from the Department of Energy. However, they have total liabilities of $989.5 million, including $452.3 million in debt (ouch!). Nonetheless, they seem to be producing Model S units at a steady rate.

The company is producing around 400 vehicles per week. Over the quarter, they produced 2,750 vehicles and over 3,100 vehicles during the full year of 2012. The company says they're at a point now where they can "reliably" produce 20,000 cars per year, which means that 2013 should be a big year for Tesla. During the first quarter alone, they want to ship 4,500 Model S cars.

The company has not released any solid sales numbers yet, but rather just delivery figures. They delivered 2,400 Model S cars during the quarter, which is a majority of the total number of vehicles they shipped for the whole year, which is around 2,650. The company is wanting to ship a total of around 20,000 vehicles in 2013, and expects to make its first profit this quarter.

[via Jalopnik]


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