Eleventh quarterly loss in a row for Tesla

By: Together Abroad 13-02-2016 9:45 AM
Categories: Business news,
The American manufacturer of electric vehicles, Tesla Motors, has put a loss on the books for the eleventh quarter in a row. Although there was an increase in the number of Teslas' Model S sold, this was not sufficient to compensate for rising costs.

Tesla realised a loss of $114 million (100.77 million euros) in the fourth quarter. That was a year before a negative result of 16.2 million dollars. Tesla had a total revenue of $ 1.8 billion, almost 60 percent more than a year earlier.

The company of Elon Musk thinks that it must sell at least 90 thousand cars to break even this year. That is much more than the more than 50 thousand that were brought last year. Tesla is, in their own words, on track to be profitable this year.

Investors reacted positively to the forecast of the company. The share price of Tesla rose by more than 7 percent in the US stock market.
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