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Tesla said to be losing money on every Model S sold

By Faiming_low on 11 Aug 2015 in Other News

Attached Image According to Reuters, Tesla had to cut its production targets for the 2015 year down to 50,000-55,000 vehicles after releasing how much it is losing. It is said that Tesla is losing $4000 (S$5571) on every Model S they sell after taking into consideration the operating losses of the company which amounted to $47million (S$65.5million).
Shares of the electric car company fell almost 9 percent last Thursday with another 2 percent slip on Friday. Analysts predict that a capital raise is probably on its way as Tesla’s reserves were standing at just $1.15billion (S$1.60billion) on 30th of June , down from $2.67billion (S$3.72billion) a year ago, a reduction that's partly due to investments for the production start of the new Model X electric crossover.

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Written by Faiming_low
Since young, Fai Ming has always centered his life around cars. In fact his first word was 'car' and not 'mum' or 'dad'. Aren't kids cute?

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