Tesla Motors warns it will miss expectations, stock tumbles, has lost $660 million in last 14 quarters

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9/26/12, "Tesla Motors warns it will miss sales expectations," Detroit Free Press, N. Bomey

"California start-up Tesla Motors warned investors Tuesday that its 2012 sales would fall about 30% below prior expectations because it is confronting "unique manufacturing challenges" in producing its Model S sedan.

The Model S sedan ranges from more than $50,000 to nearly $110,000 before tax credits. The company said it had manufactured only 255 vehicles from June through Sunday. But it still expects to make 2,500 to 3,000 in the fourth quarter.

Tesla's stock tumbled nearly 10% to $27.66 on more than four times its daily trading volume.

Tesla, which has lost $660 million in last 14 quarters, didn't back off previous projections that it would produce more than 20,000 Model S sedans in 2013 at a pace of about 400 per week.

In a filing with the Securities and Exchange Commission, Tesla said the U.S. Department of Energy agreed it could delay a third-quarter interest payment due on Tesla's $465-million federal loan. But Tesla agreed to accelerate future payments on the loan."...via Climate Depot

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