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Tesla Narrows Its Third-Quarter Loss
Electric carmaker Tesla Motors Inc. cut its third-quarter net loss to $38 million from $111 million a year earlier, according to the company's unaudited financial report.
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Electric carmaker Tesla Motors Inc. cut its third-quarter net loss to $38 million from $111 million a year earlier, according to the company's unaudited financial report.
Revenue in July-September rose 6% to $431 million compared with the previous quarter. The company collected $50 million in revenue in the third quarter of 2012.
Tesla says production of Models S sedans at its factory in California now averages 550 units per week. The company delivered more than 5,500 of the EVs in the third quarter, including 1,000 units in Europe. Deliveries in China are expected to begin in the first quarter of 2014.
Tesla forecasts sales of nearly 6,000 Model S vehicles in the fourth quarter, which would boost the company's full-year sales to 21,500 units worldwide.
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