Tesla stock plunges after it posts $108-million quarterly loss
Tesla Motors Inc. continued to report big losses as it invests heavily in factories and new models to solidify its growth.
The Palo Alto electric car company reported a loss of $107.6 million in the fourth quarter, up from a loss of $16.3 million in the same period a year earlier. For all of last year, Tesla lost $294 million compared with $74 million in the prior year.
Tesla’s revenue continues to soar, however, jumping 56% for the quarter to $956.7 million and 59% to $3.2 billion for the year. The growth reflects its ramping up production of its Model S sport sedan to tap overseas markets. The Model S has an average sales price of about $100,000.
Tesla Chief Executive Elon Musk blamed the losses on a “delivery shortfall” caused by several factors.
“The Savage 99 Pocket Reference”. All models and variations of 1895’s, 1899’s and 99’s covered. Also dates, checkering, engraving.. Find at www.savagelevers.com
