Tesla Shares Up 24 Percent Following First Quarter Profit

With a first quarter 2013 profit of $11 million and a 99 out of 100 score from Consumer Reports, everything seems to work just fine for Tesla Motors. And good news keep pouring in for the EV manufacturer, with Tesla shares going up 24 percent.
Tesla Model S 1 photo
Photo: Tesla
According to Automotive News, Tesla Motors Inc. shares surged to $69.40 on the New York Stock Exchange right after the company posted its first quarterly profit in history. The same source says that the company’s shares have gained 65 percent this year.

As we already reported 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).

Furthermore, Tesla’s 4,900 examples delivered in North America in the first quarter 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.

Story via AutomotiveNews
If you liked the article, please follow us:  Google News icon Google News Youtube Instagram X (Twitter)
About the author: Ciprian Florea
Ciprian Florea profile photo

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.
Full profile


Would you like AUTOEVOLUTION to send you notifications?

You will only receive our top stories