American electric car builder Tesla Motors loses about 4,000 dollar per Model S car it produces and sells: losses grew to nearly 360 million dollar (325 million euro) in the second quarter.
Losses despite turnover increase
Tesla has to accept a loss of more than 4,000 dollar on each car sold, despite turnover growing nearly 40 % in the second quarter, up to 1.2 billion dollar (1.1 billion euro) on the back of 11,532 Model S cars sold in that time frame. It did have to deal with a 61 million dollar net loss, up from the 45 million dollar loss from last year's second quarter.
Tesla wants to launch a new model later this year, the SUV Model X, but according to car specialists, the development of any car model amounts to about 1 billion dollars. Over the course of this year, Tesla already invested some 831 million dollar, while it still has some 700 million dollar projected to invest.
The arrival of this new Model X will also lower its production capabilities, which - alongside distribution issues - has forced the company to lower its full year forecast from 55,000 cars to "somewhere from 50,000 to 55,000 cars". For 2016, CEO Elon Musk believes his company will sell 1,800 cars per week instead of the previously-estimated 2,000 per week.