Home / AMERICAN NEWS / Tesla Motors Records $230 Million Q3 Losses But Promises Model X Soon

Tesla Motors Records $230 Million Q3 Losses But Promises Model X Soon

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Palo Alto, California – Tesla Motors has reported that it ended 3rd Quarter with a $230 million loss. Despite the heavy losses, Tesla managed to bring in almost $1 Billion in quarterly revenue ($937 million actually). This does however represent an $85 million increase in quarterly revenue compared to the same time last year, which is a great sign for the electric car company.

Tesla Motors Records $230 Million Q3 Losses But Promises Model X Soon

Tesla Motors Records 230 Million Q3 Losses

Tesla Motors has been posting up financial losses, but they are really hoping to turn things around when they launch the new Model X in 2016. (Image from Tesla)

Has Tesla Motors not spent almost $400 million in investments to build the facilities for producing the upcoming Model X SUV they would have ended the 3rd Quarter with a financial gain. It’s all fancy paper work and bean counting, but the fact of the matter is that Tesla is actually doing quite well with the sales of its aging Model S, and entering the luxury SUV market with the Model X will be a bang.

Tesla entered the market many years ago with an innovative idea to build and all-electric roadster.

Tesla Motors Records $230 Million Q3 Losses But Promises Model X Soon.

About Steven Kenniff

Lives in Phoenix, AZ. Graduated from Arizona State University in 2005. Writes for American Live Wire, GM Roadster and Northstar Media