Analysts buoyant on launch of Tesla Model S

Tesla finally got its Model S electric car into the hands of some of the people that pre-ordered. This is a huge deal for the electric car company because it racked up 10,000 pre-orders from customers who all gave a $5000 deposit. The pricing on the car is far from cheap starting at $50,000 and going to over $100,000.

Despite the high cost and the fact that many still consider electric vehicles not ready for the mainstream, Tesla has plans to sell as many as 20,000 units annually once production is ramped up. Analysts are very happy with the prospects for Tesla and are predicting that overall 2013 sales, including the Model S and Tesla's two-seat roadster will be about $1.48 billion, up from $1.35 billion last year.

Analysts are also predicting Tesla will rack up earnings per share of $.23 next year. One analyst from Needham named Michael Lew expects the Model S gross margins to eventually reach 25% allowing for the carmaker to break-even by the middle of 2013. Most analysts didn't change the buy recommendation the placed on Tesla stock.

[via Market Watch]