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Tesla "Crushes" Q2 Projections

Posted by Industry News on Aug 8, 2013

Tesla's Model S has been selling very well this year, with more than 5,000 units shipping in Q2. High Model S sales have helped Tesla's Q2 revenue "crush" earlier estimates. The company's Q2 revenue was $405 million, beating prior estimates by $22 million, and bringing 2013 revenues to $967 million so far.

After the announcement, shares in Tesla jumped 14 percent. Greentech Media reports that there are 13,000 Model S Sedans in North America. To maintain the company's 2013 guidance of selling 21,000 units overall this year, Tesla has increased production to 500 cars per week. “At this point, making 400 cars a week actually feels like a walk in the park, whereas it was a nightmare in Q4,” Tesla CEO Elon Musk said to Bloomberg in July.

Read Tesla's Q2 shareholder letter.