Something Refreshing: Tesla to Deliver Model S Early, Starting Next Month

5 years ago by Jay Cole 4

Today Tesla announced losses for the current quarter were wider than expected, mostly due to the fact they have pretty much nothing left to sell as Tesla Roadster production has capped out.  However, thye also indicated revenue for the second half would be about 10 million dollars higher than expected as Model S deliveries would begin a month ahead of schedule, but delivering cars as soon as next month.

The only hurdle left to get cars into customer’s hands next month according to the company is getting through some final regulatory hurdles (which in layman’s terms is ‘they have to smash up another car of two for the NHSTA’).

Inside the financial filings, CEO Elon Musk said: “Once we complete and document the tests, we will be able to sell our vehicles in the United States,” while adding about the timing of those crash tests, “I do not know where we are in the (crash testing) queue. We are very confident  that it will be a five-star safety rating, the safest car on the road. We have  certain architectural advantages, like a much longer crumple zone in the front  because we don’t have to make room for an engine.”

Another interesting tidbit disclosed by the company was that Tesla Model S reservations were up to 9,800 by the end of the quarter, and have since surpassed 10,000.   The company expects to deliver 5,000 cars by the end of this year, and about 20,000 next year.  Also reported were Model X reservations, at just over 1,000 deposits in hand.

Musk also took some time to speculate on the future of Tesla’s relationship with Toyota, and on the RAV4 EV, saying that the  “the odds of scaling up are good,” meaning the intially estimated 2,600 RAV4 EVs produced over the next 3 years may not be a fixed ceiling on the 100 mile, electric sport utility vehicle.

Tesla financials reported for the quarter:

  • first-quarter net loss of $89.9 million, or 86 cents per share, compared to $48.9 million or 51 cents per share a year earlier.
  • revenue was $30.2 million, down from $49 million last year
  • Tesla lifts revenue outlook by $10 million, expecting full-year revenue between $560 million and $600 million (vs 550 previously)

The Model S ranges in price from $49,900 for the 160 mile base car up to $97,900 for a 300 mile range, performance version (after $7,500 rebate).

Link to Tesla’s first quarter financial documents can be found here

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4 responses to "Something Refreshing: Tesla to Deliver Model S Early, Starting Next Month"

  1. MrEnergyCzar says:

    I will still be very surprised if a new car company makes it in the states… 99% of them have failed the past century….

    MrEnergyCzar

  2. Airton says:

    If this car can deliver its claims I don’t see how Tesla can fail, we the need this car/company to succeed Go Tesla!

    1. Rick says:

      I agree if they can deliver—all they are delivering this year is the almost $100000 signature cars and then the premium cars, no entry level 57500 cars. Could be a big price jump in those next year or just delivering none

  3. NRGTom says:

    Yes I agree with Czar & as Rick said, easy to deliver & break even on 100K versions of the car up front. will be hard by this time next year when they have orders for 8K of the base at half that

    Dont see how they ever will make money unless they get costs together but as their prices go down, the gms & toyotas & nissans of the world do as well.