Tesla Q4 Sees $16 Million In Losses, Annual Revenue Climbs To $2 Billion
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.
Seattle-based writer, blogger, and photographer for many a publication. Born in Louisville. Raised in Kansas. Where I lay my head is home.
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RE: "Again you try to throw opinion absolutes as facts." Facts, Tesla has lost money since inception. Fact: Commitment is when you invest. Fact: Tesla will have to make some hard decisions. Fact: There are reasons to be elated if you are a Tesla fan, but the game is FAR from over. Fact: Your crystal ball isn't any better than anybody elses, and probably worse than those from the business world who understand the auto business. Fact: Steve Jobs wasn't god. He was a genius and an asshole. So was Henry Ford.
RE: "What you're calling a net negative *Is exactly what students are taught in Economics in college!* You're not teaching me anything new; that paradigm is at least 60 years old." So do you now teach college economics? Do you understand accounting? Credit markets? Ever run a business? Is there anything to give your hope and dreams weight other than enthusiasm?
RE: There may be a number of different technologies created over the next decade or two, but either way you look at it the internal combustion engine is nearly dead within 50 years." Perhaps dead. Perhaps not. Who knows. Everyone is free to speculate. I don't really care. Id be happy with whatever technology is easiest on the globe. And if it ain't petroleum driven, I'd be thrilled. E: "Electric motors can produce more horsepower than gasoline and electricity can come from a number of sources that do not require fossil fuels to generate. Petroleum oil, as we know it, will be gone, or nearly so, by the end of this century if not sooner." I certainly hope petroleum will be gone but why make predictions, then argue with people about it? What are you trying to prove?
Ok Ok. You're a visionary. The race has barely started, but your horse is going to win. SO what do you want me to do? Write a national piece declaring Tesla the winner, Elon Musk a God, and what else? This is like arguing with a 5 year old.