Tesla posts $282 million 1st-quarter loss

Tesla produced 15,510 vehicles during the first quarter of 2016, including 12,851 Model S sedans and 2,659 Model X crossovers, but the company says it expects to deliver 20,000 vehicles during the second quarter as it overcomes quality problems with the Model X. (REUTERS)

May 04, 2016 05:00 AM

SAN FRANCISCO -- Customer deposits for the $35,000-and-up Model 3 sedan helped Tesla Motors Inc. grow its cash on hand during the first quarter of 2016, according to an earnings report that Tesla released on Wednesday as it reported a wider net loss of $282 million.

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