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Tesla expects first-quarter profits after strong demand for Model S

2013-04-01 19:31:00| Climate Ark Climate Change & Global Warming Newsfeed

Reuters: Electric-car maker Tesla said it expects a first-quarter profit on both a net and adjusted basis following stronger-than-expected sales of its Model S sedan, sending its shares soaring more than 19% in early trading on Monday. Tesla also said it was dropping plans to produce a low-end version of the Model S due to lack of demand, and will focus instead on higher-margin editions of the car. Model S sales exceeded 4,750 units in the quarter, higher than the 4,500 Tesla had forecast, the company...

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