Tesla sees record Model S sales
Tesla Motors Inc. reported record sales of its Model S electric car in the fourth quarter of 2013, but posted a net loss of 16 million dollars for the quarter, the Palo Alto-based company reported Wednesday.
The electric car company increased its revenue in the fourth quarter to 615 million dollars, up 43 per cent from the 3rd quarter.
The company says it delivered more than 22,000 Model S vehicles in 2013, and a record 6,892 in the fourth quarter alone, resulting in over 2 billion dollars in sales for the year.
This year Tesla expects to sell more than 35,000 Model S cars. The first Model S deliveries to China are scheduled for this spring.
Tesla says it plans to make substantial investments in China, adding new stores, service centers and a Supercharger network.
Tesla share prices rose 15 per cent in after-hours trading after earnings were announced.
The report comes a day after Tesla held talks with Apple, fueling discussion of a possible merger.
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