Tesla Motors Inc. reported record sales of its Model S electric car in the fourth quarter of 2013, but posted a net loss of $16 million for the quarter, the Palo Alto-based company reported on Wednesday.
The electric car company increased its revenue in the fourth quarter to $615 million, up 43 per cent from the 3rd quarter.
The company says it delivered more than 22,000 Model S vehicles in 2013, and a record 6,892 in the fourth quarter alone, resulting in over $2 billion in sales for the year.
This year Tesla expects to sell more than 35,000 Model S cars.
The first Model S deliveries to China are scheduled for this spring.
Tesla says it plans to make substantial investments in China, adding new stores, service centres and a Supercharger network.
Tesla share prices rose 15 per cent in after-hours trading after earnings were announced.
The report comes a day after Tesla held talks with Apple, fuelling discussion of a possible merger.
More Like This
Published on February 20, 2014
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.