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Discussion in 'Tesla' started by doug, Aug 7, 2009.
Press release from Tesla motors:
Tesla Motors Attains Profitability Milestone
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.
More comfortable seats!!?
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.
It's one of the few things I've heard might be offered as a possible upgrade for '08s.
Tesla turns $1 million profit in July
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.
Even made our mainstream press: Electric cars prove profitable for Tesla Motors - Times Online