Tesla Logged $713 Million In Revenue In Q1 and Built 7,535 Cars

cartechboy (2660665) writes "Tesla just announced its first-quarter earnings and the numbers are interesting. It logged revenue of $713 million on deliveries of 6,457 Model S electric cars. It's worth noting that's basically the number of vehicles it said it would sell in the quarter, but that number is slightly down from the prior quarter. It built a total of 7,535 Model S cars in the quarter as it built inventory as shipments began to China where sales just started last month. Net orders in North America grew 10 percent, and production for the second quarter is expected to increase to 8,500-9,000 Model S cars. Tesla expects to deliver 35,000 cars during the 2014 calendar year. Musk told analysts that China's enthusiastic and that government support is crucial. The Model X is delayed until spring of 2015 with production-design prototypes being ready in the fourth quarter. Tesla hopes to possibly break ground as early as next month on its gigafactory, though the location has yet to be announced. Of course, the stock market is already reacting to these numbers and is currently down nearly 3 percent in after hours trading."

Down 3%?!

[korbulon]

Well thank goodness the stock market is such an accurate gauge of a company's fiscal health and true value (right Facebook?) It's all rational investors making carefully considered trades in an open and transparent marketplace.

Re:Sponsor?

[Anonymous Coward]

Looking at the big picture I think any Elon Musk story is kind of interesting. He is an uber geek trying to shift the world to sustainable energy and colonize Mars. Fast Cars and Rocket Ships are every kids dream as they said on 60 minutes.

Re:Down 3%?!

[fnj]

Fine. What I see is a goddam good time to invest.

Re:Nothing odd at all

[alexander_686]

For the battery packs, I would be surprised. The Gigafactory that Tesla is building will be majority owned by Panasonic. i.e., it is a Panasonic factory, building Panasonic batteries, but it is being built for Tesla, with Tesla money. It is “Tesla” factory because they will be getting the output.

I know that Tesla is looking for better battery solutions but I have not heard that they have come up with anything.