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2013 Tesla Model S Ahead of Schedule, Tesla Reports $89.9 Million Loss

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It’s 2012, and you know what that means – the end of the world! No, not really – we just wanted to make sure you were paying attention. 2012 is Tesla’s “Year of the Model S.” This is a time of reckoning; Model S is the make-or-break. If they can’t turn a profit with this car, it’s over. Tesla has been around since 2003 and without a real product line, lost money during that period.

Millions of development dollars have been poured in for development of the Tesla and primarily the Model S. Up until now Tesla hasn’t generated much because the Roadster never sold in large quantities. Most of it has come through deals with other companies and deposits on the Model S and upcoming Model X crossover. That is all about to change soon once deliveries of the Model S begin.

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Case in point? Tesla calls 2012 the “year of two halves.” If all goes to plan, the two parts of the year couldn’t be more different. Case in point? The Model S is expected to account for 90 percent of Tesla’s revenue this year, and it will only be on sale for six months. Talk about a big launch. This information is especially important because Tesla has just reported its financials for the first quarter.

The company logged a $89.9 million (86 cents per share) loss and revenue of $30.2 million, down due to the discontinuation of Roadster sales in North America. Revenue for the entire year is expected to be between $560 and $600 million. Thanks to crash test certifications progressing quickly, Tesla expects to deliver the Model S in June, a month ahead of schedule. Most people expected delays, if anything so this is really impressive. Stock jumped 8 percent on the announcement. So far Tesla has pulled everything off flawlessly. We can’t underscore how big of a deal it is that Model S is making it to production. We’re experiencing the making of a new American car company, and we hope Model S blows past Tesla’s sales expectations.