Blog Category: Tesla

After nearly a decade in business Tesla published Q1 results for 2013 showing their first profitable quarter ever.  Tesla posted profits of $11.2 million on record sales of $562 million, a whopping 83% increase over the previous quarter.  While most of this gain was the result of increasing vehicle sales Tesla also benefited from the elimination of a DOE “Warrant Liability” resulting in a one-time non-cash gain of $10.7 million and the sale of Zero Emission Vehicle credits to other car manufacturers to the tune of $68 million.  This stems from California Air Resources Board regulations requiring manufacturers to sell a certain percentage of zero emissions vehicles in Californi

In what surely must be considered a surprise choice, Automobile Magazine has named the all-electric Tesla Model S its Automobile of the Year for 2013. It’s not the first electric car so honored - the range-extended Chevrolet Volt won in 2011 - but with only 250 of the Model S having been delivered to actual customers, this upstart startup is barely even an infant when compared to the rest of the automaking world.