Tesla’s Q3 Losses Widen

Tesla recorded a third-quarter loss of $110.8 million, versus a $65.1 million loss in the third-quarter of 2011. While anaylsts had expected lower losses (in the 90 cent/share range, versus $1.05/share recorded by Tesla), revenues exceeded projections as well, with $50 million booked in this quarter, versus projections of $48 million. Production of the Model S has been coming online slowly but surely. Reuters reports that The company said in a letter to shareholders posted on its website that weekly Model S production had risen to 100 cars by the end of the quarter and was now up to 200. By December, it will be making 400 cars per week, Tesla said. While we're still waiting on a proper review of the Model S, our initial impressions were much better than Tesla's results this quarter. from The Truth About Cars http://www.thetruthaboutcars.com

Put the internet to work for you. via Personal Recipe 680102