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Elon Musk: Model S Is Sold Out For First Year

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On: Mon, Nov 7, 2011 at 2:36PM | By: Chris Weiss


Elon Musk: Model S Is Sold Out For First Year

Tesla may just make a profit yet. After losing money since its inception, the company is hoping to actually jump into the black with its next model: the Model S sedan. And things are off to as good a start as they can be, with CEO Elon Musk claiming that the Model S has already sold out months before it's even hit dealerships.

Musk told Bloomberg that Tesla has 6,500 orders for the Model S, meaning it's sold out of the entire 2012 production run. The Model S will go into production next year and is expected to hit the market by summer. Not surprisingly, since the market for an electric sedan is much different than the market for a $100,000 electric sports car, Tesla says that outside of about 600 Roadster owners, those orders have been placed by new customers.

With this infusion of new blood and a successful start to Model S production, Tesla predicts that it will turn its first profit in 2013. Due to the large research and development costs behind developing a line of premium, high-performance electric vehicles, as well as the limited market for the Roadster, Tesla has been losing money for years.

Tesla has said in the past that it plans to introduce a concept version of its next model, a crossover named the Model X, by the end of this year. We're anticipating seeing that model at the LA Auto Show later this month, though Tesla did not say for sure when and where the debut will take place.




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Stephy21 | 9:54AM (Tue, Nov 8, 2011)

Its crazy how a car can be sold out before it even hits dealerships. It must be a really good car.



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