Electric roadster maker making money

NEW YORK (CNNMoney.com) — Tesla Motors turned profitable for the first time in July, when the electric car manufacturer shipped a record 109 vehicles, the company said Friday.

A surge in sales and reduced manufacturing costs of Tesla’s Roadster 2 sports car helped boost the company to $1 million in earnings and $20 million in revenue.

“There is strong demand for a car that is unique in offering high performance with a clean conscience,” said Tesla Chief Executive Elon Musk, in a prepared statement. “Customers know that in buying the Roadster they are helping fund development of our mass market electric cars.”

The Roadster has a range of about 244 miles per charge — the first production electric vehicle to cross the 200-mile mark, according to the press release.

The Roadster is the only highway-capable electric vehicle for sale in North America or Europe, and the company says it is faster than a Porsche and twice as energy-efficient as a Toyota Prius.

CNN