Photo: Tesla Motors
Tesla Motor’ stock has dropped around 10 percent a few hours after the California-based company announced a third-quarter loss of $38 million (€28 million).
The electric car manufacturer delivered 5,500 units of the Model S four-door sedan in July - September, exceeding its target with 500 examples. However, this didn’t stop Tesla from losing $0.32 per share, $0.07 more than it was expected.
Elon Musk’s company is hoping to sell a total of 21,500 Model S sedans this year and increase profits before starting deliveries in China in early 2014.
Next year will also mark the introduction of the new Model X crossover, a vehicle delayed for about a year after Tesla decided to increase Model S production. The company’s new electric car will cost a little more than the sedan and will be offered with all-wheel drive only.
Story via AutoGuide
Elon Musk’s company is hoping to sell a total of 21,500 Model S sedans this year and increase profits before starting deliveries in China in early 2014.
Next year will also mark the introduction of the new Model X crossover, a vehicle delayed for about a year after Tesla decided to increase Model S production. The company’s new electric car will cost a little more than the sedan and will be offered with all-wheel drive only.
Story via AutoGuide
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