Tesla announced their Q4 2013 earnings saw a total net loss of $16 million while pulling in an annual revenue of $2 billion on the strength of higher sales and more efficient manufacturing methods.
Automotive News reports the luxury EV automaker’s annual loss for 2013 totaled $74 million, while Q4 revenues using GAAP accounting standards were $615 million; non-GAAP revenue for the same period totaled $716 million. Contributions to the fourth quarter revenue stream included $13 million via a powertrain-sharing program with Daimler and Toyota, $15 million in regulatory credits, and $5 million from favorable foreign currency rates.
Tesla’s crystal ball for 2014 sees deliveries climbing to over 35,000 units worldwide through expansions into new markets — including China, Australia and the United Kingdom — production output increasing from 600 to 1,000 units/week, and the introduction of the Model X SUV.
Near-term, deliveries for Q1 2014 are predicted to hit 6,400 units, though production of the Model S will be constrained due to battery-cell supplies. Tesla CEO Elon Musk hopes to remedy the issue in the long-term through his “giga-factory” concept, meant to supply the automaker with lithium-ion packs while protecting it from forces outside of their control.
Finally, Tesla’s assets for the outgoing year were $846 million in cash and $738 million in equipment and property, including a new body-in-white assembly facility that will serve as the starting point for the Model X when units begin to roll off the line early next year.