Tesla Motors, the Silicon Valley-based automaker is “highly confident” of reaching sales of 20,000 vehicles in 2013, CEO Elon Musk said today, Auto News reports.
Tesla has described 2012 as a “year of two halves” with the Model S launch as the dividing line. Ninety percent of the company’s revenue this year is expected to come from the sedan.
Musk, addressing shareholders at Tesla’s annual meeting at the Computer History Museum in Mountain View, Calif., predicted the company would generate a 25 percent gross margin, with an operating margin in the low to mid-teens, in the near future.
The automaker delivered the first two Model S sedans last week, and broader-scale deliveries will begin this month.
The company has spent more than a year revamping part of the former New United Motor Manufacturing Inc. factory in Fremont to build the car, backed by a $465.million loan guarantee from the U.S. government.
More than 10,000 people have already placed reservations for the Model S, putting down $5,000 apiece to get in line.
The car targets the luxury car category and comes with a slew of high end features. One of the most stunning of which is the all-glass panoramic roof, allowing many of the advantages of a convertible car without getting your hair messed up in the wind.