Tesla posts heavy losses, blames Top Gear
Electric car company Tesla Motors is leaking more money than a rapper at a strip club -- and apparently Jeremy Clarkson is to blame.
Tesla Motors, the achingly cool electric car company responsible for the brilliant, is unfortunately leaking more money than a rapper at a strip club -- and apparently Jeremy Clarkson is to blame.
Tesla Motors reported losses of $65m in the third quarter alone, the Detroit News reports, which isn't exactly ideal, seeing as the company's total turnover is just $200m.
"As a result," Musk moans, "we had an excess inventory of right-hand drive versions of the Roadster and continue to incur additional costs to correct the consumer misperception."
We're not exactly sure how many customers are holding off buying an £89,000 Roadster because of what a middle aged anti-electric car journo said on a Dave repeat, but Tesla believes it's a factor and hopes to recoup some of this lost revenue by.
Remarkably, Tesla Motors and its shareholders don't appear too bothered about its losses -- at least not in the short term. Musk expects the company to carry on haemorrhaging cash as it continues to invest in research and development of its future cars -- specifically the Model S, which is aimed at a more mainstream audience.
That car, a fully electric saloon to rival the likes of the BMW 5 series, should sell in higher volumes, as the entry level model will go on sale for the more affordable price of $57,500 (£36,000), excluding a $7,500 subsidy from the US government.
Whether the Model S will be successful enough to plug the existing cash gap and prevent Tesla going the way of Greece remains to be seen. Let's keep our fingers crossed, shall we?