Vehicles

Tesla Motors Sees Profits, Rising Stocks

Posted on April 3, 2013

PALO ALTO, Calif. — Tesla Motors, makers of the world’s first all-electric luxury sedan —the Tesla Model S — said March 31 it will turn a profit for the first quarter of 2013.

Tesla Model S all-electric luxury sedan belonging to Northern California's Angel Worldwide Transportation.
Tesla Model S all-electric luxury sedan belonging to Northern California's Angel Worldwide Transportation.

According to a report from GigaOM.com, Tesla sold a total of 4,750 Model S units in the 1Q, a 250-unit increase from the company’s estimate of 4,500.

This caused the automaker’s stock to hit $46.18 as of 8:20 a.m. PST on Monday, April 1, a 22% bump from its opening price.

As of April 3, 1:05 ET, Tesla's stock price is at $41.05.

Tesla CEO Elon Musk said in a statement: “There have been many car startups over the past several decades, but profitability is what makes a company real. Tesla is here to stay and keep fighting for the electric car revolution.”

Tesla Motors will not produce its small-battery pack option for the Model S due to lack of demand, according to the Silicon Valley Business Journal. Customers who ordered the 40kWh battery pack will receive the 60kWh battery pack instead.

Related: Tesla Model S Arrives In Southern California Limo Fleet

Related: SF Bay Area Operation Adds Tesla Model S To Fleet

Related: Tesla Model S Outsprints Dodge Viper SRT10

GigaOM story here.

Silicon Valley Business Journal story here.

Source: GigaOM; Silicon Valley Business Journal

View comments or post a comment on this story. (0 Comments)

More News

Tesla Model S: The First Driverless Armored Vehicle?

The electric vehicle company is looking to break records in safety and autonomous driving capabilities.

Protest Mob Burns Limousine After Inauguration

The anti-Trump street melee resulted in a torched Lincoln MKT stretch parked along a D.C. street.

President Trump Will Temporarily Use Obama's Limo

His all-new Cadillac limousine won't debut for another few months.

9 Facts You Didn't Know About Driverless Cars

While there are certainly concerns around self-driving cars, there's virtually no stopping this technology now.

Women's March Takes More Buses Than Inauguration

Three times as many bus permits have been issued for the Jan. 21 protest than for the Jan. 20 swearing in of Donald Trump.

See More News

Facebook Comments ()

Comments (0)

Post a Comment

Submit

Blogs

See More

See More

See More

See More

LCT Store

LCT Magazine - January 2017 $12.95 THE MONEY ISSUE COVER STORY: * Dashboard Helps Steer Company Finances * *



Connect

Experience the three annual industry events for networking for business, showcasing vehicles and products, and getting the tools for success.

Read About Your Region

What’s Happening Near You?
Click on any state to see the latest industry news and events in that region.

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Metro Magazine

Serving the bus and passenger rail industries for more than a century

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

Please sign in or register to .    Close