TMC is an independent, primarily volunteer organization that relies on ad revenue to cover its operating costs. Please consider whitelisting TMC on your ad blocker or making a Paypal contribution here: paypal.me/SupportTMC

Tesla turns a profit!

Discussion in 'Tesla Motors' started by doug, Aug 7, 2009.

  1. doug

    doug Administrator / Head Moderator

    Joined:
    Nov 28, 2006
    Messages:
    15,912
    Location:
    Stanford, California
    Press release from Tesla motors:

    Tesla Motors Attains Profitability Milestone
     
  2. Serge

    Serge Member

    Joined:
    Jul 24, 2008
    Messages:
    190
    Location:
    Queens, NY
    Great news! Corporate profitability is a significant milestone, which provides a solid foundation for future growth. Go Tesla!

    The $20M revenue would indicate sales of under 200 Roadsters. Are these figures based on a two-month period? Perhaps TM's fiscal year ended in May, so the calculations are for the new FY.
     
  3. vfx

    vfx Well-Known Member

    Joined:
    Aug 18, 2006
    Messages:
    14,792
    Location:
    CA CA
    Roadster 2-

    More comfortable seats!!?
     
  4. Tdave

    Tdave Member

    Joined:
    May 16, 2008
    Messages:
    721
    Location:
    Columbia, MD
    Hmm. I bet this is why they wanted my Bill of Sale to be dated July 31 instead of this week, closer to my delivery date, as I had requested.
     
  5. SByer

    SByer '08 #383

    Joined:
    Oct 23, 2007
    Messages:
    1,068
    Location:
    Cupertino, CA
    It's one of the few things I've heard might be offered as a possible upgrade for '08s.
     
  6. doug

    doug Administrator / Head Moderator

    Joined:
    Nov 28, 2006
    Messages:
    15,912
    Location:
    Stanford, California
    Tesla turns $1 million profit in July

     
  7. bolosky

    bolosky Member

    Joined:
    May 5, 2009
    Messages:
    422
    If they use standard accounting, they'd only recognize the revenue for the Roadsters that they delivered in July. When you pay ahead of time, it should be unearned revenue, and then they'd recognize the revenue at the time of sale.

    If that's so, then $20m revenue on 109 Roadsters seems large. If the average Roadster sells for $130k (actual price including options, etc., before tax rebate and counting stuff like the ~$2K "destination charge" that it costs for them to drive the car from the back of the Menlo Park store to the front) then that would be ~$14m.

    I wonder if they got $6m revenue from Daimler for power train components. Either that, they sold a *lot* of T-shirts & hats, or they're doing some not-so-conservative accounting and somehow are counting both revenue for delivered Roadsters and also new deposits (because of the changeover of rules about when money's due). If it's the latter, then this is an accounting artifact and isn't close to sustainable.

    I'm kind of worried that this doesn't really add up.
     
  8. dpeilow

    dpeilow Moderator

    Joined:
    May 23, 2008
    Messages:
    8,572
    Location:
    Winchester, UK

Share This Page