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Tesla Motors, Inc.
Tesla Motors posts 1st-quarter loss; Model X delayed until next year
Tesla Motors posts 1st-quarter loss; Model X delayed until next year

Electric car company Tesla Motors Inc. reported a first-quarter loss and said sales of its Model X sport utility vehicle will be delayed until next year. In its report to investors Wednesday, the Palo Alto automaker said it lost $49.8 million in the first quarter compared to a profit of $11.2 million in the same period a year earlier. Last year’s profit was helped by heavy sales of special California zero-emission-vehicle environmental credits to other automakers, a business that dried up in the latest period. However, the company did earn $17 million in the latest quarter, compared to $15.4 million a year earlier when certain adjustments are made to its financial statement, such...

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