PHOTO CAPTION: Tesla CEO Elon Musk recently had dust-up with NY Times, which eventually admitted its reporter exercised poor judgement.

Sales Booming, Losses Growing for Tesla

Tesla CEO Musk announces that all 20,000 Model S electric sedans will be sold and that company expects to turn profitable first quarter in 2013.

Published: 24-Feb-2013

Sales of Tesla Motors Inc.'s electric cars are booming and the company is on its way to profitability, CEO Elon Musk told investors yesterday.

All 20,000 of the Model S sedans that the company plans to make this year will be sold, Musk said during a conference call on the company's fourth-quarter 2012 financial results.

"If we were to close all of our stores right now worldwide, and not have any car specialists or sales people, we would still sell out through the year," Musk said.


SolarCity and Tesla are collaborating on energy storage for solar-powered homes.

Tesla is using its battery expertise in collaboration with SolarCity to create energy storage units to provide electricity after the sun goes down.

Tesla will begin Model S deliveries in June 2012.

With reservations topping 10,000 orders, Tesla expects to deliver 5,000 Model S sedans by the end of 2012.

Tesla Model S will start at around $50K depending on battery pack capacity and other options.

Tesla new sedan achieved an EPA 2-cycle range of 320 miles and a 5-cycle range of 265.


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