Elon Musk says he 'feels good' as Tesla forecasts first profits

After several 'excruciating' financial months that included $67m in unplanned costs, the electric car maker says it will start making money this year

Elon Musk, chief executive of electric luxury car maker Tesla Motors, promised investors on Wednesday that the company will start making money this year, sending its shares up sharply despite a wider fourth-quarter loss.

Tesla shares rose more than 10% in after-hours trading after the company forecast a 60-80% increase in vehicle sales this year, and promised it would turn a profit on an adjusted basis. It will start generating positive cash flow in March.