Thought you guys may enjoy this reading on Elon from Bloomberg Businessweek
Towards the end of the article you'll noticed the reference of 6 Model S are being built per day at present.
I can't find that in the article. Can you post the quote?
Musk bought it for $42 million when Toyota shuttered the plant in 2010. At the moment it’s producing six Model S’s each day.
it's interesting that toyota was making about 1,400 cars a day.
That shows what tesla could potentially achieve under that roof.
Haha, some times the stuff Elon says (or the way people write about it, for effect) just seem unreal.
"Musk’s staff huddles around him as he zeroes in on a sun visor. He hates it. He examines the seam and, noticing how it pushes up the fabric, declares it “fish-lipped.” The screws on the hinges feel like knives stabbing him in the eye. He announces he wants to find the best sun visor in the world, and then make a better one."
Some guy on another site said Elon sounded like a "douche". To me, he sounds like the kind of guy I want to buy a product from.
Toyota sold the plant for $42 million and bought about $42 million in equity. That simplifies to: Toyota sold the plant for an equity share.
Video at the bottom.
3:10 "around 80 cars this week"
so around 11 a day
at a 6 days-week 14 cars/day... they need 64/day, to meet the target of 20.000/Year... they have to fold up the actual rate two times- more or less
@Brianman/@Whity - and he also says there'll be "more than 80 next week" The ramp continues...
Shooting up the S-curve. Next issue...deliveries
Another quote from the same article belongs here: "Tesla expects to produce as many as 100 cars per day by the end of the year, says Gilbert Passin, Tesla’s vice president for manufacturing."
That would be comfortably more than the 64/day Whity is looking for.
that would mean apr. 30.000/Year. GB mentioned it in one of the last interviews.
I see minimum 5000 in 2012 and between 20K and 30K in 2013, maybe more.
Question of reservations..
Tesla (as a company) needs to sell about 30,000 cars to become profitable (that includes all the losing years). So I expect that's what their real goal is for 2013.
The losing years don't figure into "profitability". They are "absorbed" into shareholder equity. Profitability is a current, real-time term, unless the period is specified otherwise.
jerry, sorry- for that, but sometimes there is a basic misunderstanding...
Every year on 31st december, there is a "reset" and all numbers start over.
So, 8000/year= break even... everything over 8000 brings 25% margin. That's
exactly, what I get (ok, contracts MB and Toyota on top).
or am I wrong here?
That's correct. The financial "year" may begin on some other date, of course.
As an ex-bookkeeper/accountant/company Treasurer, I assure jerry3 that's how things are done.
Brian and Whity, You guys are correct, that's how the financial statements work. Each financial year is independent of the previous one, and of course the profit for that year is in isolation of every other year from an accounting perspective.
However, selling about 30,000 cars at 25% profit would show enough profit to wipe out the prior years' losses, even if it wouldn't be accounted for that way (as it would go into shareholder equity). If I were a shareholder, I'm sure that would make me really happy.