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Tesla Posts $11 Million Q1 Profit

US automaker Tesla Motors has announced its first quarter 2013 financial results, posting a profit for the first time in the company’s 10-year history.
Tesla Model S 1 photo
Photo: Tesla Motors
According to a report released yesterday, Tesla delivered 4,900 vehicles in the first quarter of 2013 for record sales of $562 million, up 83 percent when compared to the last quarter, which resulted in a profit of $15 million (GAAP profit of $11 million).

In addition, Tesla’s 4,900 examples delivered in North America in Q1 have surpassed both the Chevrolet Volt and Nissan Leaf, with the two companies reporting 4,244 and 3,539 units sold over the same period of time.

Talking about the future, Tesla said it expects US demand to exceed 15,000 Model S vehicles a year, with global demand probably more than 30,000 a year. With exports starting Q3, the company hopes to sell 10,000 and 5,000 cars a year in Europe and Asia respectively.
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About the author: Ciprian Florea
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Ask Ciprian about cars and he'll reveal an obsession with classics and an annoyance with modern design cues. Read his articles and you'll understand why his ideal SUV is the 1969 Chevrolet K5 Blazer.
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