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The AutoGuide News Blog is your source for breaking stories from the auto industry. Delivering news immediately, the AutoGuide Blog is constantly updated with the latest information, photos and video from manufacturers, auto shows, the aftermarket and professional racing.
 |  May 13 2014, 12:02 PM

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Aston Martin is going to lose an awful lot of money in the future, but the company says that’s OK because it expects to earn each of those pounds back and then some.

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 |  Nov 07 2012, 1:02 PM

Fisker is reporting that it lost $30 million in inventory after Superstorm Sandy flooded a New Jersey port.

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 |  Nov 03 2011, 5:40 PM

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The Tesla Roadster (right) has impressive acceleration and handling, you also never have to buy gas for it, but at more than $100,000 it’s pretty expensive.

Their current one-car offering and the big price tag didn’t help the company. They posted a $65.1 million net loss in the past quarter, up from the $34.9 million they posted last year.

Past failures aside, it is still be early to write Tesla off. Despite losing money, they struck a deal with Daimler AG to supply  them with a powertrain for their electric vehicles.

“Even though they’re losing money, the fact that their batteries are attractive to other automakers gives them some revenue and some credibility,” said Alan Baum, an industry consultant at Baum & Associates in Michigan in an interview with Automotive News. “They are catching a few breaks in the sense that people want to do business with them.”

In addition to selling parts to other manufacturers, Tesla’s own Model S sedan, new for next year, is already sold out. The more practical iteration of their take on electric transportation also costs about half as much at $50,000 as the performance-oriented Roadster.

CEO Elon Musk said in an October 28 interview on Bloomberg TV that the company actually expects to earn a profit in 2013.

Musk remains optimistic that the company is gaining from experience in the market that will help when the Model S is released.

Their third-quarter revenue exceeded analyst expectations, reaching $57.4 million instead of $46.4 million.

GALLERY: Tesla Model S

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[Source: Automotive News]