Tesla fans and investors cheer Q4 results
Tesla released its results today and the fans of the brand found much to like. According to Tesla its Model S is the leading selling automobile at its price point in North America. Not bad for a car with only two years of history behind it. The internet buzz at this point is that after hours stock estimates are up after the announcement which came after the close of trading.
Another highlight was that in Q4 the company produced more sedans than it had previously promised. Confirming its earlier number, Tesla says it sold 6,892 of its electric Model S sedans. Even better in the eyes of the Teslerati, that number is expected to increase in 2014 to 35,000 vehicles sold in the current year underway. Tesla did however warn that might be slowed in the first two quarters due to constraints on battery supplies.
In terms of the ever important regulatory and Zero Emissions Vehicle credits and sales, Tesla says that its results, a net income of $46million and $16 million dollar loss, “included $15 million of regulatory credits revenue, but no zero emission vehicle (ZEV) credit sales.” That would seem to indicate that the trend we say throughout 2013 came to completion and in the last quarter Tesla did not sell ZEV credits to other automakers.
The company highlighted its Supercharger network expansion and spoke at length about its sales outside the US. The upcoming Model X crossover was not a focus of the announcement, but the report did say of the model X "We expect to have production design Model X prototypes on the road by end of year and begin volume deliveries to customers in the spring of 2015."
Tesla’s full announcement letter can be found on its website at this location.
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