Tesla posts record Q4 sales; reports loss of $16 mn

DPA Los Angeles | Updated on March 12, 2018 Published on February 20, 2014

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.

Published on February 20, 2014
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