Tesla will deliver 70 percent more vehicles in 2015
Tesla Made 11,627 Vehicles Last Quarter, Delivered 9,834
In its latest shareholder letter released today, Tesla said it expects to increase its number of vehicle deliveries by more than 70 percent in 2015. That includes the Model S as well as the upcoming Model X, which is going to start deliveries within the next six months. At the start of 2015, Tesla says, it had "over 10,000 orders for Model S and almost 20,000 reservations for Model X." The company says that over 30 beta versions of the X have been built and are being tested. We saw one just the other day, in fact.
Regarding reports of low Model S sales in China, the letter says, "Despite initial challenges in China, we remain convinced of the vast potential of this market and are concentrating our efforts on the cities we are in currently, before launching into new cities."
Tesla also reported a loss of $107.6 million in the fourth quarter of 2014. The company said it had a loss of 86 cents per share. Losses, adjusted for non-recurring costs and stock option expense, were 13 cents per share. The results fell short of Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share. The electric car maker posted revenue of $1.1 billion in the period, which also fell short of Street forecasts. Analysts expected $1.19 billion, according to Zacks. The automaker says its fourth-quarter profits fell from the impact of a strong dollar and delayed vehicle shipments. TSLA was down $3.49 today, a drop of 1.61 percent, to $212.80. The stock is up slightly more than 8 percent in the last 12 months but shares dropped two percent to $208.65 in aftermarket trading.
The AP contributed to this report.
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