Tesla Motors Inc., the maker of battery-powered cars run by entrepreneur Elon Musk, said its fourth-quarter net loss widened to $81.5 million as electric Roadster sales end ahead of the release of Model S sedans.
Excluding some items, the loss was 69 cents a share, Palo Alto, California-based Tesla said today in a statement on its website. The average of 11 analysts’ estimates compiled by Bloomberg was for a loss of 62 cents. The net loss compares with a $51.4 million deficit a year earlier.
Tesla is selling the final units of its $109,000 Roadster sports car. The Model S, intended to expand the company’s sales volume with a base model priced at $57,400, won’t go into production until the middle of this year. Until then, the company’s main revenue source is supplying battery packs and other components to Toyota Motor Corp. and Daimler AG, two of its investors.
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