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Tesla Motors Reports First Quarter 2011 Results

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Tesla Motors Reports First Quarter 2011 Results


Tesla has now delivered over 1,650 Roadsters around the world. Roadster owners have driven almost 11 million miles. In addition, Tesla has now received over 4,600 reservations for the Model S.

Revenues for the first quarter of 2011 were $49.0 million, a 35% increase from the $36.3 million reported in the prior quarter. Gross margin improved to 37%, up from 31% for the prior quarter.

Net loss for the quarter was $48.9 million as compared to $51.4 million in the prior quarter on a GAAP basis.

Tesla delivered a record number of production battery packs and chargers for both Daimler's Smart fortwo and A-Class vehicles for the fourth quarter in a row. Daimler increased its total orders for the Smart fortwo electric drive components from 1,800 to 2,100 sets. All of these will be delivered in 2011.
 
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An AMG Smart ED. That's a nice thought. They could do the usual suspension, wheel, tire, brake upgrades. Then find room for a second battery pack to get 33 kWh total (and more kW also). Top it off with a PEM and Motor from Tesla. That would be a really nice little runabout. Sign me up for one.

GSP