Tesla Q1 revenue more than doubles on record deliveries; losses up
Green Car Congress
MAY 4, 2017
Tesla reported record first quarter GAAP revenue of $2.7 billion on record vehicle deliveries of 25,051 units. Vehicle production in Q1 increased by 64% year-on-year. Automotive revenue was $2.3 billion, up 15% quarter-on-quarter and up 123% year-on-year. The 13% sequential increase in Q1 deliveries drove much of the increase in automotive revenue. In addition, average transaction prices (ATPs) improved from Q4 2016, driven primarily by a favorable product mix shift and higher option uptake.
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