Loss Widens at Electric-Car Maker Tesla
Electric-car maker Tesla Motors Inc. on Wednesday reported a wider fourth-quarter loss and warned of new cost cuts, but said production of its Model S sedan is running at a rate of 20,000 vehicles a year, a key benchmark for investors.
The Palo Alto, Calif., auto maker said higher expenses for manufacturing and sales operations contributed to a loss of $89.9 million, or 79 cents a share, compared with a loss of $81.5 million, or 78 cents a share, a year earlier. It also missed its target for fourth quarter production.
