Tesla’s sales in China ‘unexpectedly weak’
Print Edition
TESLA Motors Inc Chief Executive Elon Musk said the electric luxury car maker’s sales in China were “unexpectedly weak” during the fourth quarter, but sought to assure an audience in Detroit the problems are being fixed.
Musk also said the company’s long-delayed Model X sport-utility vehicle will be launched this summer. The Model X will be critical to Tesla’s goal of reaching an annual sales of 500,000 vehicles a year by 2020.
Musk told attendees at the Automotive News World Congress that the “green” car maker should be consistently profitable by 2020, and added he expects sales in the millions by 2025.
“We could make money now if we weren’t investing” in new models and expanded retail networks, Musk said.
He didn’t elaborate on the problems in China.
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