June 18, 2024

Tesla reports massive fourth quarter losses

Tesla Model S

Like the Americans at Tesla aren’t very good with time. It seems like they’ve been riddled with delays and cancellations since forever.

Despite this, when it comes to financial announcements they seem to have quite a firm grasp on the idea of making things sound good.

Tesla Model S
Tesla Model S

Just a day after they announced the enormous success they’ve had with how the Model X and the money it raked in for the company, they have some bad news.

As far as last year is concerned, the EV specialist company didn’t do too well. Scratch that, there were some serious problems with their finances in 2011.

Particularly, the losses of Tesla seemed to “shine” for the fourth quarter. Now bare in mind they probably had these results for quite some time now, but they’ve held on to them till the right time.

Tesla Model S
Tesla Model S

Since it’s not likely to see a better time than now, Tesla told us that they’ve got some massive losses registered on the books for the the last quarter of 2011.

Simply put, the company lost a whopping 81.5 million dollars over that three month period. This is more than “impressive” when you consider the revenues they’ve had.

Cash flowing into Tesla’s pockets went up to $39.4 million from the $36.3 million they had in the last quarter of 2010.

Tesla Model S
Tesla Model S

The problem seems to be in how Tesla works at the moment. Because they no longer sell cars, their only money source is battery production for other car makers.

Once the Model S production kicks in later this month and the Model X follows next year, things should change for the better. Hopefully.

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