It's official. Tesla has returned its first profitable quarter after 10 years in the business, following promises that it would be in the black in 2013.
Tesla recorded sales of $562 million (£360 million), a gain of over 80 percent from the last quarter, with 4,900 Model S sedans delivered. That's an 83 percent bump from Q4, with a total gross margin rise from 8 to 17 percent thanks to boosted Model S production and reducing the cost of parts. But all that cash isn't simply from sales and ironing out production kinks.
By: Damon Lavrinc, Edited by: Olivia Solon
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via Wired.co.uk
http://www.wired.co.uk/news/archive/2013-05/9/tesla-profit
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