Tesla remains unprofitable but rapidly increasing sales and production of cars

Tesla reported for the fourth quarter of 2016 financial year and the whole year. The revenue of the producer for the last three months of last year amounted to 2.3 billion dollars, having increased by a considerable 88%. Revenue from sales of automobiles increased by 79% and reached $ 2 billion.

Total revenue for the full year amounted to $ 7 billion, or 73% more than in 2015. Annual revenue has increased from 3.74 billion to $ 6.35 billion

Meanwhile, for the quarter and year-end Tesla was unprofitable. Three month net loss amounted to 219 million dollars, and by the end of the year 773 million, although both figures are less than they were the year before.

Car production for the quarter has increased in annual terms by 77%, reaching 24 882 machines. Sold for the quarter was 22 252 car, which is 27% higher than a year earlier. For the first half of this year, Tesla intends to implement 47 000-50 000 cars, which would correspond to a growth of 71%. In July the company will begin production of a new model — Model 3. Full production will be deployed in September.

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