Wed, Nov. 25, 11:47 AM
- Credit Suisse thinks 2016 is the year that sales leverage kicks in for Tesla Motors (NASDAQ:TSLA). The bullish note from the firm includes a prediction of lower-than-consensus SG&A spending and R&D investments to help free up cash flow. In the near term, CS says 17K units in Q4 is "achievable" after factoring in some extra sales in Denmark and the U.K.
- Tesla more than doubled the number of superchargers in the U.S. to 224 over the last year, but saw an even higher pace for new destination chargers. The number of destination chargers at hotels, restaurants, and other retail outlets now totals over 1.2K, according to Cleantechnica.com
- Earlier this week, several research firms issued positive forecasts for U.S. auto sales in November. It's unclear if that burst of buying during a typically dull month will extend out to Tesla. YTD electric vehicle sales in the U.S. have trailed the pace of overall auto sales. $2 gas prices at the pump aren't helping that trend.
- Shares of Tesla are up 3.89% to $226.75
Tue, Nov. 24, 8:36 AM
- Tesla Motors (NASDAQ:TSLA) disclosed it will sell a base version of the Model X for as low as $80K when sales ramp up in 2016.
- The lower-price option is for the 70D battery pack with a 220 mile range and top speed of 140 mph vs. the pricier 90D with the 90-kWh battery and top speed of 155 mph.
- Federal tax credits and state rebates could lower the net cost for buyers, while customized add-ons work the other way.
- The pricing of the Model X is being closely watched by German automakers (OTCPK:DDAIF, OTCQX:VLKAY, OTCPK:BAMXY).
- Model X pricing and spec
Fri, Nov. 20, 12:12 PM| Fri, Nov. 20, 12:12 PM | 397 Comments
Thu, Nov. 19, 1:02 PM
- Tesla Motors (TSLA +1.3%) CTO Jeffrey Staubel said the automaker has "great potential" in South Korea during a speech yesterday in Seoul.
- He didn't offer a specific timetable on entering the South Korean market as he leaned to the cautious side.
- "We don’t want to damage the brand by growing too quickly and not having enough infrastructure, service and support,” noted Staubel.
- Last year, less than a thousand plug-in vehicles were sold in South Korea. Infrastructure build-out in the nation has picked up this year.
Wed, Nov. 18, 7:33 AM
- The Tesla Model 3 is being developed with an aerodynamic design aimed at achieving an extreme minimization of wind resistance, sources tell Electrek.
- The goal of Tesla Motors (NASDAQ:TSLA) CEO Elon Musk is for the Model 3 to have a drag coefficient below 0.20 which is a level normally indicative of some unusual drag-defeating features.
- The Model S has a very low drag coefficient of 0.24.
Tue, Nov. 17, 9:18 AM
- Tesla Motors (NASDAQ:TSLA) is in talks with the German government on building a battery manufacturing facility in the nation, according to the Economy Minister.
- Sigmar Gabriel confirmed that Elon Musk was involved in the conversations. He also noted that Tesla is expected to ask for public funds.
- Germany has been a low-volume market for Tesla which faces fresh competition from the BMW i3.
- TSLA +0.56% premarket to $215.50.
Fri, Nov. 13, 5:43 PM
- Tesla (NASDAQ:TSLA) will continue to burn through lots of cash in its quest to become a bigger car maker, and Wall Street may be underestimating how much spending remains ahead, according to analysts at Barclays.
- TSLA does not boast a strong track record in spending efficiently, and its business strategy will keep it a capital intensive company, the analysts say, estimating the company will burn through $11B in capital spending over the next five years.
- If TSLA does not become more efficient in making its planned Model 3 mass market car, it could run out of money to invest enough on the software side, which are the products that make TSLA “truly differentiated," the firm says.
- Barclays is among the biggest TSLA skeptics, and keeps its Sell rating on the stock with a $180 price target.
Fri, Nov. 6, 2:45 PM
- Tesla Motors (NASDAQ:TSLA) CEO Elon Musk was the surprise speaker at the Baron Investment Conference in New York City today.
- It wasn't hostile territory for Musk with Baron, a long-time proponent of the EV automaker, lobbing mostly softballs.
- After Tesla had to dig into the details earlier this week with earnings and guidance, it was back to the ambitious talk today.
- Musk said he sees a 500-mile range car within a decade and reiterated Tesla can churn out "millions" of cars in the future. He noted that more automobile plants and gigafactories would be needed to reach that scale.
- Bigger than GM? Why not, answered Musk.
- Baron Investment Conference agenda (.pdf)
- Baron Investment Conference webcast
- Tesla has had a strong week, up 11.58% to $230.85.
Wed, Nov. 4, 9:15 AM| Wed, Nov. 4, 9:15 AM | 2 Comments
Tue, Nov. 3, 5:58 PM
- Jason Wheeler, Google's (GOOG, GOOGL) finance VP and a 13-year company vet, has been named Tesla's (NASDAQ:TSLA) new CFO. Wheeler replaces Deepak Ahuja, whose retirement plans were announced in June. His departure from Google comes eight months after the company named former Morgan Stanley CFO Ruth Porat its new CFO (thus passing over Wheeler).
- Tesla has also named Jon McNeil, formerly the CEO of property insurance software firm Enervio, its president of global sales and service. Jerome Guillen has been Tesla's VP of worldwide sales and service. However, his LinkedIn page states he's on leave from until January.
- Tesla is now up 10.3% after hours after posting Q3 results and guiding for 50K-52K 2015 deliveries.
Tue, Nov. 3, 5:38 PM
Tue, Nov. 3, 4:27 PM
- Tesla Motors (NASDAQ:TSLA) announces it produced 13,091 vehicles in Q3 and delivered 11,603 new units. Annual guidance is now for 50K-52K units delivered this year, a reduction on the high end of the range.
- Q3 automotive gross margin was 23.7%, excluding $39M of ZEV credit revenue. Total gross margin was reported at 25.1% on a non-GAAP basis and 24.7% on a GAAP basis.
- A higher mix of Model X sales in Q4 is expected to help boost the company's average vehicle selling price.
- Q4 gross margin is expected to fall on a sequential basis as higher Model X overhead factors in.
- Annual capex spending of $500M is anticipated for Q4.
- The Model 3 will be unveiled next March. No specific targets for the Model 3 product timeline were disclosed.
- The ramp for Tesla Energy products from the Gigafactory is ahead of schedule. More details are expected on the company's conference call which is scheduled for 5:30 PM ET (webcast).
- Tesla shareholder letter (.pdf)
- Previously: Tesla misses by $0.08, misses on revenue (Nov. 3)
- TSLA +7.28% after hours to $223.16.
Tue, Nov. 3, 4:18 PM
Tue, Nov. 3, 7:14 AM
- Tesla Motors (NASDAQ:TSLA) reports earnings after the bell tonight.
- Analysts expect the automaker to report revenue of $1.24B and EPS of -$0.50.
- Tesla has delivered 33,157 vehicles through three quarters vs. a lowered annual guidance range of 50K to 55K units. Q3 deliveries included a minor contribution the Model X which launched near the end of the quarter.
- Updates on Tesla Energy, the Gigafactory, and the Model X production line will be closely watched.
- Shares of Tesla are up 2.25% in the five sessions heading into the earnings report.
Mon, Nov. 2, 5:35 PM
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Sat, Oct. 31, 12:51 PM
- The European Automobile Manufacturers Association issued a statement this week in which it forecasts that a "substantial number" of diesel models will have to be phased out earlier than anticipated.
- The harsh assessment was mirrored by several heavyweight CEOs at the Tokyo Motor Show. The major focus of the event has been next-gen concepts like hydrogen-powered cars and self-driving features, while execs such as Nissan's Carlos Ghosn have marginalized the future of diesel.
- Many automobile industry insiders have noted that diesel was in decline due to the focus on emissions even before Volkswagen (OTCQX:VLKAY) rocked the industry with a cheating scandal.
- The mix of technology, EV, hydrogen, and powertrain changes have kept analysts buzzing over the proper valuations to assign to major players. A reset of demand expectations in China also factors in significantly.
- Automobile industry stocks: DAN, BWA, MTOR, TRW, FDML, DLPH,GNTX, SMP, AXL, MPAA, ALV, MOD, DLPH, VC, THRM, WPRT, GM, F, TM, FCAU, HMC, OTCPK:NSANY, TSLA, OTCQX:VLKAY, OTCPK:DDAIF, OTC:HYMLF, OTCPK:BAMXY, TTM, TSLA, THRM, BWA, JCI, TEN, CPS, LDL, TOWR, OTCPK:PEUGF, OTC:RNSDF, OTCPK:RNLSY.
- Previously: Hydrogen and self-driving cars the talk at the Toyota Motor Show (Oct. 29)
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