Tesla 2016 results: Net loss of $675,000 despite increased revenues

February 24, 2017

Tesla increased revenues from $4 million (€3.8 million) in 2015 to $7 million (€6.6 million) in 2016, with the lion’s share generated by the automotive division and the rest by the energy generation and storage and services divisions. However, the company still suffered a net loss of $675,000 (€638,000), albeit down from $889,000 (€840,000) in 2015. 

Tesla produced 84,000 cars in 2016 and expects to deliver 47,000 to 50,000 Model S and Model X vehicles combined in the first half of 2017, equating to growth of between 61% and 71% compared with the same period last year 

Limited production of the brand’s compact Model 3, due to retail at about $35,000 (€33,000), is scheduled to start in July, with volume deliveries commencing in the second half of 2017. This is a major turning point for Tesla as it evolves from a small niche automotive manufacturer of high end electric vehicles to a mass market manufacturer. Bolstered by the Model 3, Tesla annual production in excess of 500,000 units is planned for 2018, with this figure climbing to more than one million cars by 2020. However, Bloomberg commented that Tesla is 'burning through cash' and may soon need to raise more capital to produce the Model 3 to ensure it reaches mainstream consumers.

Also in News & Insights

UPDATE: News & Insights have moved to the Autovista Group website

March 31, 2017

Our regular automotive industry News & Insights are no longer being published on the Autovista Group Market Reports website.

Instead, you can now find the latest updates at our central Autovista Group website, home to our pan-European brands including Autovista, Eurotax, Glass's and Schwacke.

To stay up to date with rapidly changing market trends, we recommend signing up to our free Autovista Group Daily Brief which delivers our daily news stories directly to your inbox.

You can still find our in depth market reports here on the Autovista Group Market Reports site. Keep checking back as we have an exciting new report due to be launched shortly!

PSA to boost UK presence in the event of a ‘hard Brexit'

March 08, 2017

UK sales flat despite upcoming road tax hike, diesel demand plummets

March 08, 2017

UK new car registrations fell annually by 0.3% in February to 83,115 units according to the SMMT, driven down by weaker demand from individuals and companies. More noticeable, however, was the 9.2% drop in demand for diesels compared to February 2016, a steeper drop than the decline in Germany...