August has been good to Tesla Motors – heck, all of 2013 has pretty much been an upswing – and the market value of the California electric-vehicle maker has now surpassed the $20 billion mark. Bloomberg News reports the stock, which is trading in the $165 neighborhood, is up almost sixfold in the past year. Tesla went public in July 2010 at $17 a share.
Earlier this month, Tesla said its second-quarter loss narrowed to $30.2 million from a $105.5 million loss a year earlier while widening its gross margin to 22 percent of sales. Additionally, the Electrification Coalition said in early August that Tesla's Model S accounted for about eight percent of the US luxury-car market, beating out gas-powered stalwarts such as the Audi A8, BMW 7 Series and Mercedes-Benz S-Class. Tesla has already said it will at least double Model S production next year, but first we assume CEO Elon Musk is probably hoping for a good September.
Earlier this month, Tesla said its second-quarter loss narrowed to $30.2 million from a $105.5 million loss a year earlier while widening its gross margin to 22 percent of sales. Additionally, the Electrification Coalition said in early August that Tesla's Model S accounted for about eight percent of the US luxury-car market, beating out gas-powered stalwarts such as the Audi A8, BMW 7 Series and Mercedes-Benz S-Class. Tesla has already said it will at least double Model S production next year, but first we assume CEO Elon Musk is probably hoping for a good September.
Featured Gallery Tesla Model S: Quick Spin
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