Reports 52% More Revenues Over Rising Car Orders; QLoss at $154M

Tesla’s venture into electric cars may not be so bad after all, as it unveils $893 million revenues for 2015 or a 52% increase from last year. Tesla said it sold 11,600 cars during the first three months of 2015, a thousand more than expected. Earlier this year, the company said its profit was hurt over weakened sales in China, and reported a $108 million quarterly loss in February 2015, triggering a 3% cut on its share price.

Just recently, Tesla reported $154 million quarterly loss, but said that it factored in continued investment in research and new production facilities. The company assured that it was on its way to narrowing its loss, hopeful that its Model S and Model X cars in 2015 would continue to sell throughout the rest of the year and onwards.

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The American electric carmaker revealed its plan to increase production by 12% and release 12,500 units by June. However, the company is skeptic about the strengthening dollar hampering overseas sales. To offset possible losses, Tesla plans to raise prices in Europe by 5%.

Early this month, Tesla disclosed batteries that can power not just cars but also homes and offices, and said it is venturing beyond car making. Experts commended the company for its efforts and said that Tesla’s batteries have great marketing potential as the world begins to embrace clean energy sources.

Deutsche Bank estimated a $4.5 billion income from stationary storage for Tesla, indicating a positive future for the losing company. The company plans to launch its battery factory in Nevada come 2016.

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Tesla’s recent announcements, however, did not do so much for its stock price, which continued to fluctuate, rising up to 5% before crashing down Wednesday, May 6, 2015. Tesla still has a lot to prove, while recovering from last year’s production and distribution delays, which contributed to its ballooning loss.

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