agent Entrepreneur logo
MenuMENU
SearchSEARCH

Tesla’s Q3 loss grows to $74.6 million

DETROIT – Tesla Motors reported a loss of $74.6 million in the third quarter, compared with a loss of $38.5 million in the same period of 2013, reported MLive. The Palo Alto, Calif.-based electric car maker blamed the larger loss on higher R&D costs and challenges related to a production overhaul for its Model S ... Read More »

November 7, 2014
3 min to read


DETROIT – Tesla Motors reported a loss of $74.6 million in the third quarter, compared with a loss of $38.5 million in the same period of 2013, reported MLive.

The Palo Alto, Calif.-based electric car maker blamed the larger loss on higher R&D costs and challenges related to a production overhaul for its Model S sedan. It also pushed back shipments of its Model X crossover to the third quarter of 2015 from the second quarter.

Ad Loading...

Tesla said it is investing in increased production to produce more than 2,000 Model S units per week by the end of 2015. Still, a delay in transitioning the production has caused it to adjust its projected deliveries of the Model S in 2014 to 33,000 units from 35,000.

The company stressed to investors Wednesday afternoon that growing losses in the third quarter are not from a lack of demand for its all-electric cars.

“Being unable to increase production fast enough, not lack of demand, is a fair criticism of Tesla,” the company said in its earnings release. “That said, we expect our annual production will increase by over 50% in 2014, again in 2015 and probably for several years to follow. This is unusual in the car industry.”

Tesla’s revenues jumped to $851.8 million, compared with $430.2 million in the third quarter of 2013.

The company was recently in the spotlight in Michigan because if legislation that Tesla and some law observers say is aimed keeping its unique, direct-to-consumer sales model illegal in the state.

Ad Loading...

Gov. Rick Snyder last signed a bill his office described as bipartisan legislation that simply strengthens existing law as it pertains to automobile dealership sales in Michigan.

But Tesla says the legislation is a direct effort at shutting it out of Michigan.

HB 5606 was approved 38-0 in the Senate and 106-1 in the House of Representatives after being presented to state legislators as aimed at prohibiting car dealerships in the state from dictating fees they charge customers. With the legislation, dealerships can decide whether or not to charge certain transaction fees.

“This bill does not, as some have claimed, prevent auto manufacturers from selling automobiles directly to consumers at retail in Michigan – because this is already prohibited under Michigan law,” Snyder said in a letter to lawmakers that accompanies the signed bill.

Todd Maron, general counsel for Tesla, said that not only does it further ensure that company cannot sell directly to consumers in the state, it goes so far as to prohibit Tesla from displaying its cars to and communicating with potential customers in Michigan.

Ad Loading...

“These changes were put in at the last minute with nobody vetting them,” Maron said, adding, “It looks like what they were trying to do is completely shut us out of Michigan.”

More Industry

F&Iby Lauren LawrenceFebruary 27, 2026

Price Driving Insurance Churn

Over half of insurance holders ages 18 to 29 reported to be 'somewhat' likely to change providers in the next 90 days, according to CivicScience, which found that interest was lower among older age groups.

Read More →
Industryby Lauren LawrenceFebruary 26, 2026

AI Drives Dealer Website Traffic

Total visits to dealer websites from generative artificial intelligence platforms grew more than 15 times year-over-year, signaling a shift in how many consumers shop for cars online.

Read More →
Industryby Hannah MitchellFebruary 26, 2026

Automakers Tops in Fuel Economy

In the U.S., Honda has the most efficient gas-electrified combo lineup while Tesla beats all automakers in annual EPA ranking as brands built their alternative-fuel offerings.

Read More →
Ad Loading...
F&Iby Lauren LawrenceFebruary 25, 2026

Report Finds Year-End F&I Strength

Deal volume ebbed and flowed throughout 2025, but product performance remained steady, according to automotive technology and data intelligence solutions provider StoneEagle.

Read More →
Industryby Hannah MitchellFebruary 24, 2026

Overall Consumer Confidence Up

Americans’ view of present business conditions, the labor market and family finances, though, are still in the dumps, and if they plan to buy cars, many target used units.

Read More →
Auto Financeby Lauren LawrenceFebruary 23, 2026

Auto Loan Forecast Bucks Market Trend

Auto loan originations rose over 6% year-over-year in the third quarter of 2025, but TransUnion predicts a slight decline in auto loan growth this year, making it an outlier in the company's overall lending forecast.

Read More →
Ad Loading...
F&Iby Hannah MitchellFebruary 23, 2026

Some Auto Brands Cheaper to Insure

A new top 10 list ranks the least expensive for average full insurance coverage on a clean driving record and high driver credit scores.

Read More →
Industryby StaffFebruary 20, 2026

Learn to Manage the Mayhem at Agent Summit

Rob Mancuso – president of Mancuso Automotive – will present a Keynote at the 2026 event.

Read More →
Fixed Opsby Hannah MitchellFebruary 20, 2026

Auto Recalls Sank Last Year

2025 Sedgwick data indicate that the number of vehicles affected fell to its lowest point in more than a decade.

Read More →
Ad Loading...
Industryby Lauren LawrenceFebruary 19, 2026

Affordability Leads Top-Rated List

Edmunds’ editorial team tested 300-plus vehicles to help determine the Top Rated Awards for 2026, and one brand stood out with multiple rankings, including Best of the Best.

Read More →