Tesla Q2 news on Reuters...
No big surprises, I think. Tesla Shareholder Letter looks pretty encouraging!
No big surprises, I think. Tesla Shareholder Letter looks pretty encouraging!
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AnOutsider
S532 # XS27
- Apr 3, 2009
- 11,957
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smorgasbord
Active Member
Some interesting tidbits:
190 Roadsters sold last quarter (more than 2 per day) for revenue of $27million, which equates to an ASP of over $142K per Roadster.
That represents a gross margin of 22% - Tesla has figured out how to make money on Roadsters.
Tesla expects gross margins on the Model S to be 25%.
These are exceptional gross margins, and I think reflect that Tesla is also the dealer, so they get that markup as well.
One of the 15 Model S Alphas has logged more than 150K miles (equivalent).
50 Betas will be produced. Unveiling to the public in "a few months."
5300 Model S reservations as of the end of June 2011 - Looks like TMC's tracking is spot on!
Model X deliveries scheduled to start late 2013 - less than 18 months after Model S deliveries start.
RAV4 drivetrains to commence shipping to Toyota in early 2012.
Musk himself has invested $41 million.
190 Roadsters sold last quarter (more than 2 per day) for revenue of $27million, which equates to an ASP of over $142K per Roadster.
That represents a gross margin of 22% - Tesla has figured out how to make money on Roadsters.
Tesla expects gross margins on the Model S to be 25%.
These are exceptional gross margins, and I think reflect that Tesla is also the dealer, so they get that markup as well.
One of the 15 Model S Alphas has logged more than 150K miles (equivalent).
50 Betas will be produced. Unveiling to the public in "a few months."
5300 Model S reservations as of the end of June 2011 - Looks like TMC's tracking is spot on!
Model X deliveries scheduled to start late 2013 - less than 18 months after Model S deliveries start.
RAV4 drivetrains to commence shipping to Toyota in early 2012.
Musk himself has invested $41 million.
felixtb
RsEU502,Sp+14274,XpEUSig4
this is great news. the model s is too small for my traveling lifestyle so have been hoping for the model x. Hopefully it will fulfill my expectations......... we'll see.
Norbert
TSLA will win
Did I understand Elon's opening statement in the Q&A section correctly, that aside from the $100 million deal with Toyota, they are in discussions for a deal an order of magnitude larger than that?
Nik
Dreaming no more :-(
That's certainly the story picked up on the various auto blogs (autoblog green, TTAC, etc)
When talking about a deal "in order of 90 or larger than that" I assume he means a $190 million deal? This is typical Elon-speak.
I'd forgotten about their "safest car" target, frankly I thought it was a bit of a pipe dream. I will be amazed if Tesla can bring this car to market being so astonishingly good at pretty much everything and still make money on it, but it looks like they're on track. It's Tesla making and reaching these sorts of targets for themselves that is so astonishing and inspiring given their start-up status.
Edit: Continuing reading, TM are planning a big event on the 1st of October for Model S reservation holders. Sounds like some big presentations about the car, particularly regarding what's considered when making a car safe, and some Beta test drives for automotive press and test rides for reservation holders. Very exciting!
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$190million or $9billion - I'd guess the former, and hope for the latter ;-)
Its only a prospect, anyway. Nothing committed.
I love how people like James Carlini in the comments on the Seeking Alpha post compare it to the Volt as proof electric cars won't succeed. If you're going to compare it to anything, I would think the Leaf would be a better comparison but even then, it's in a different market.
mnx
2013 P85
Excited about the October 1st event! Thought this quote was intersting...
"But we want to come out with a new product every year. And so there will be Model S mostly next year, Model X the year thereafter, another vehicle a year after that and another vehicle a year after that."
I wonder what other vehicles they have up their sleeve...
- mnx
"But we want to come out with a new product every year. And so there will be Model S mostly next year, Model X the year thereafter, another vehicle a year after that and another vehicle a year after that."
I wonder what other vehicles they have up their sleeve...
- mnx
A van and a cabriolet (roadster 3.0?) have been suggested quite speculatively by Tesla before as sharing the Model S platform, and I'd imagine for cost and time saving reasons they'd like to use the platform to it's fullest extent before moving onto a new platform (Bluestar at last?). I did think this was very interesting though, certainly keep the forum busy!
Mycroft
Life happens
I've been given the understanding that 10 Betas have been completed already and that October will begin the test drives for reservation holders only. No public test drives will take place due to the limited number of dealers and cars.
AnOutsider
S532 # XS27
- Apr 3, 2009
- 11,957
- 198
Mycroft
Life happens
Norbert
TSLA will win
I'm pretty sure he says "an order of magnitude larger", also another time later on. Those transcripts aren't too reliable, it doesn't even sound like correct english (to me).
Of course, $1 billion would still be a large sum to mention in a short remark, but he does mention it twice.
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I'd take that to mean "on the order of 90+ million".
A very upbeat press release without a lot of the usual artificially "happiness double speak" I've come to expect from most companies. I'm really hoping to get my Model S by the end of next summer.
Nik
Dreaming no more :-(
Agreed re the transcripts. TTAC says that a 'tesla official' confirmed the 'order of magnitude larger' bit later on.
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