Tesla reports great Q3 results, expects to be cash flow positive by Q4

[Azure]

Tesla's shares are up 3.9 percent to $30.04 on Monday due to Q3 results that point to better things ahead for the Californian EV maker. The company recently reported revenues of $50 million for the third quarter alone, and is well on track to hit its target of $400 to $440 million by year's end. In a letter to shareholders, Tesla credits production increase for the success, stating that it "successfully transitioned to a mass production car company, growing from manufacturing 5 cars per week at the beginning of the quarter to 100 cars per week by the end." Indeed, it apparently delivered almost 350 Model S cars in Q3, and expects about 2,500 to 3,000 more of the shiny electric sedans to be sold in Q4, putting the company squarely in the black. We're not sure if its newly launched Supercharger network has anything to do with the recent uptick in sales, but hopefully this means it'll be able to pay off that DOE loan soon.

http://www.engadget.com/2012/11/05/t...2012-earnings/

Not that they are the 'solution' to everything, but it is nice to see that they are being successful.

[vanisleflamesfan]

Aww... I thought this thread was going to be about the 80s glam rock band.

Instead it is about that car company that Mitt Romney called a "loser company".

[Fozzie_DeBear]

I hope they succeed...it certainly doesn't hurt to get a brand new factory at pennies on the dollar as a result of the economic crisis.

[saskflames69]

If they can produce a car that runs on electricity longer than a similar car would on gas, they are going to be HUGE.

[Table 5]

Tesla Model S named Car of the Year by Motor Trend today. Not that they are the be-all and end-all of what people buy (they did pick the awfully boring Passat last year) but that probably won't hurt sales.

[Hemi-Cuda]

the day that i can drive coast to coast anywhere in north america in an electric vehicle, "filling up" with a charge or a battery swap at stations along the way, i'm definitely going to grab one. right now though it would only be a city vehicle for me, keeping a gas one around for longer trips. just not practical

[mykalberta]

Until a company in this sector comes up with something better than "daisy-chaining" a bunch of laptop batteries together, I will remain dis-interested.

I saw my first "green" charging station in the Bow Valley parkade last Sunday.