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Tesla: Sales Exceed $2 Billion, 6,892 Vehicles Sold in Q4 2013

by Roy Choi | February 19, 2014February 19, 2014 8:00 pm PDT

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On Wednesday, Tesla Motors, Inc. released its earnings for the fourth quarter of 2013. During this time period the car manufacturer delivered 6,892 vehicles, bringing the total to 22,477 vehicles for the year, a record for the company, and making the Model S the top selling vehicle in its price point.  Total sales equates to $2.5 billion (non-GAAP) or $2 billion (GAAP) depending on accounting measures.

As for future residual value for the 20-month old Model S, Tesla anticipates those figures to be above its resale value guarantee.  At this point in time it would be premature to evaluate resale values due to its short history and lack of used vehicles available for sale.

Model S Drivers have driven over 200 million miles and that number is expected to balloon as Tesla makes a bigger push into Europe and Asia, which the company expects to be twice as large as the North American market. And not to exclude right hand drive markets (U.K., Japan, Hong Kong and Australia) those vehicles will be phased in this spring.

With expanding its markets, Tesla expects to ramp up production to as many as 1,000 vehicles a week. Currently Tesla churns out approximately 600 cars a week. Part of this number, though, relies on battery supplies, which Tesla expects to be solved or at least alleviate in the second half of this year.

Additionally, Tesla’s next vehicle, the Model X, is anticipated to be delivered near the end of 2015. Surprisingly, this new model appears to be garnering more interest than the Model S, and thusly is planning for larger volume for the SUV variant.

Despite rumors of an Apple buyout of the company, there was no confirmation on whether Tesla has entertained or even discussed such talks with the Cupertino-based company.

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Roy Choi

Roy Choi is a Southern California native. He has been infatuated with technology reviews ever since he bought his first crummy laptop in the summer...

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