Tesla Motors Inc (TSLA) To Hold Stockholders Meet on June 4th

Tesla Motors Inc (TSLA) To Hold Stockholders Meet on June 4th
Blomst / Pixabay

Tesla Motors Inc (NASDAQ:TSLA) have announced they will hold their 2013 Annual Meeting of Stockholders on Tuesday, June 4, 2013 at 3:00 p.m. Pacific time, at the Computer History Museum located at 1401 North Shoreline Boulevard, Mountain View, California 94043.

Tesla Motors Inc (TSLA) To Hold Stockholders Meet on June 4th

Tesla Motors Inc (NASDAQ:TSLA) is one those few companies that is liked by those interested in environmental protection. Despite some setbacks and criticism, the company has been successful in recent months as it moves towards its first profitable quarter and expects to pay back its DOE loan early.

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The Automaker revealed earlier this month that in the first quarter it sold 4750 units of Model S, which exceeds the earlier estimates of 4,500 units by about 5.5 percent. The encouraging sales along with a non-cash gain of approximately $10mm from the pre-payment of DOE loan will help the company to report its first profitable quarter.

According to the numbers from TeslaMotorsClub.com, a site dedicated to discussing the luxury electric car, in “large luxury” segment of the auto market in U.S., the electric car maker is ahead of the old names in the luxury car industry Bayerische Motoren Werke AG (FRA:BMW) (ETR:BMW) and  Mercedes. As per the site, in the first quarter Tesla sold more than 4,750 Model S vehicles, which was more than any other traditional luxury car brands.

For the fourth quarter of 2012, Tesla Motors Inc (NASDAQ:TSLA) revenues increased by 500 percent from $50.1 million in the prior quarter to $306 million in the fourth quarter. The revenues for the electric car maker beat the $300 million consensus revenue estimates. For the full year, Tesla reported revenues of $413.25 million compared with $204.24 million in revenue a year earlier. At that time, the company revealed that it expects to sell 20,000 Model S vehicles this year, and will start shipping Model S vehicles in Europe and Asia this summer and by the end of the year.

Despite the good news from all sides, there are some issues that still concern the company’s growth.  Tesla Motors Inc (NASDAQ:TSLA)’s CEO, Elon Musk, is pushing for a bill in Texas that will allow the company to sell the electric cars directly to the buyers through its retail stores. The current laws at Texas allow a new car to be sold only through franchised dealerships.

However, the CEO’s push seems to be gaining ground. A week back, Tesla Motors Inc (NASDAQ:TSLA) won a case that allows it to sell vehicles directly to consumers in New York.

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