Sales

Tesla Lost A Staggering Amount Of Money To Start 2015

You don't get rich winning drag races.

The first few months of 2015 have been a mix of good and bad for Tesla. The Model S P85D has become an Internet darling thanks to its ability to eat up just about any challenger on the drag strip. The Model X SUV is coming soon and there’s a new battery pack for the Roadster! The bad was revealed when Tesla’s Q1 earnings were shared in a letter to shareholders. Even though 10,045 cars were delivered (and 11,160 were built) Tesla still lost $154.2 million against $1.1 billion in revenue.

Losing $154.2 million is a big deal when you’re an upstart car company in a niche market. Tesla is expecting its SUV to help boost sales, with the company saying the S and X should be good for 55,000 purchases in 2015. More help will come in 2016 as the entry-level Model 3 is expected to debut in March of that year. Quarterly earnings reports from automakers are usually sleep-inducing, but when it comes to young automakers like Tesla they’re worth paying attention to.

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