Delivered

Tesla reaches at least 25% gross margin by the end of 2013

Elon Musk promised Tesla reaches at least 25% gross margin by the end of 2013 by the end of 2013. It happened on time.

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“we would achieve at least a 25% gross margin by the end of the year”
— Elon Musk · Apr 2, 2013 · Interview with Bloomberg (April 2, 2013), video, ~00:05:05 00:05:05 ↗
Video: Interview with Bloomberg (April 2, 2013), video, ~00:05:05
▶ WATCH HIM SAY IT @ 00:05:05 — INTERVIEW WITH BLOOMBERG (APRIL 2, 2013), VIDEO, ~00:05:05
What actually happened

Tesla reported Q4 2013 automotive gross margin of 25.2% non-GAAP (25.8% GAAP) with no ZEV credit sales, meeting the 25% target. (Achieved in Q4 2013 and reported Feb 19, 2014.) Tesla Q4 2013 shareholder letter (SEC exhibit 99.1) ↗

The Progression

Apr 2, 2013
The promise: “we would achieve at least a 25% gross margin by the end of the year” · Interview with Bloomberg (April 2, 2013), video, ~00:05:05 00:05:05 ↗
Dec 31, 2013
Delivered — on time. Tesla reported Q4 2013 automotive gross margin of 25.2% non-GAAP (25.8% GAAP) with no ZEV credit sales, meeting the 25% target. (Achieved in Q4 2013 and reported Feb 19, 2014.) Tesla Q4 2013 shareholder letter (SEC exhibit 99.1) ↗
Today · Oct 12, 2026
Status: Delivered · on time. It happened.

In an April 2013 Bloomberg interview Elon Musk listed a hard commitment that Tesla would reach at least a 25% gross margin by the end of 2013. Q4 2013 automotive gross margin was about 25%.

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LAST CHECKED 2026-10-12

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