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Nov. 3, 2015, 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.
Nov. 2, 2015, 5:35 PM
- ACHC, AFG, AIV, AMSG, ASH, ATVI, AWR, BIO, BKH, CBPO, CBS, CERN, CHEF, CHUY, CIM, CKP, CSU, CSV, CVC, DAC, DENN, DHT, DK, DKL, DVA, DVN, ECYT, ENPH, ENSG, EPIQ, ETSY, EVRI, FANG, FARO, FIVN, FLTX, FMI, FOGO, GHDX, GMED, GRPN, HCI, HL, HLF, HRZN, IAG, IPHS, IRWD, ITRI, IVR, JCOM, KEG, LLNW, MPO, MTZ, MXL, MYGN, NFX, NYMT, OAS, OCLR, OESX, OFIX, OKE, OKS, ORA, PAA, PAGP, PAYC, PBPB, PKD, QUAD, REGI, RIGL, RLOC, RP, RPAI, RXN, SLW, SSNI, SUPN, TDW, TMH, TSLA, TSRA, TX, UNTD, USNA, VNDA, WBMD, WR, WTR, X, XEC, XOXO, XXIA, Y, ZAGG, ZEN, ZNGA
Oct. 31, 2015, 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)
Oct. 28, 2015, 12:02 PM
- Tesla Motors (NASDAQ:TSLA) will use LG Chemical (OTC:LGCLF, OTC:LGCEY) for battery upgrades on the Roadster model.
- Though the Roadster is no longer produced by Tesla, the cooperation between the two companies could give Tesla some leverage with Panasonic (OTCPK:PCRFF, OTCPK:PCRFY) as the gigfactory prepares to ramp up.
- LG Chem is already a supplier to the Volt EV and will build batteries for the new all-electric Bolt.
- Previously: GM finds a tech partner for Bolt EV (Oct. 20 2015)
Oct. 26, 2015, 1:05 PM
- Tesla Motors (TSLA +2%) is higher after an active tweeting weekend from CEO Elon Musk.
- Musk says his comments last week on a Gigafactory in China weren't transcribed exactly correct. He says Tesla will continue to make cars and batteries in California and Nevada as "far into the future" as he can see, while factories in China and Europe to meet local demand might follow the Model 3 launch in around two years.
- Tesla sold 1,345 cars in China during Q3, to top the sub-1K level of Q1 and Q2 - but fall far short of any pressing need for local production just yet.
- In response to a Twitter question, Musk says a Gigafactory in India would probably make sense in the long term.
Oct. 23, 2015, 6:26 AM
- Tesla Motors (NASDAQ:TSLA) could begin producing cars in China in two years, Chief Executive Elon Musk said, adding that local production had the potential to cut the sales prices of its models in the country by a third.
- Weak sales in China led to massive job cuts earlier this year. Domestic media put the headcount reduction at 30% percent of Tesla's 600 Chinese staff.
Oct. 22, 2015, 7:39 AM
- Tesla Motors (NASDAQ:TSLA) CEO Elon Musk says many of the Model S issues highlighted in the Consumer Reports reliability survey issued this week were from early production cars. He notes new cars have already addressed the problems cited by owners.
- Musk also highlights that Tesla scored at the top of the rankings on service and 97% of owners polled by CR said their next car would be a Tesla.
- Looking ahead this quarter, Tesla is expected to release more pricing details on the Model X and throttle up to full production near the end of the year.
- Previously: Tesla lower after Consumer Reports cites Model S reliability issues (Oct. 20 2015)
- TSLA +1.62% premarket to $213.50 vs. a 52-week trading range of $181.40 to $286.65.
Oct. 21, 2015, 10:20 AM
- Automobile stocks are largely higher after General Motors (NYSE:GM) reports record profit for Q3.
- GM is leading the pack with a 4% gain - while Daimler (OTCPK:DDAIF +2.6%), Honda (HMC +2.5%), Toyota (TM +1.7%), Nissan (OTCPK:NSANY +1.6%), Ford (F +0.9%), and BMW (OTCPK:BAMXY +1%) are all ahead of market indexes. Even Volkswagen (OTCQX:VLKAY) is clawing itself back with a 2.1% increase.
- The two laggards are Fiat Chrysler Automobiles FCAU which is down 2.9% and Tesla Motors (TSLA -0.8%). Fiat was hit with a negative EU tax ruling and has the Ferrari (NYSE:RACE) IPO stealing some of its thunder, while Tesla Motors is still stinging from a Consumer Reports jab yesterday.
Oct. 20, 2015, 2:07 PM
- Tesla Motors (NASDAQ:TSLA) is lower after Consumer Reports pulls its recommendation on the Model S due to reliability issues.
- CR: "As the older vehicles are getting up on miles, we are seeing some where the electric motor needs to be replaced and the onboard charging system won’t charge the battery."
- More from CR: "On the newer vehicles, we are seeing problems such as the sunroof not operating properly. Door handles continue to be an issue."
- Shares of Tesla are down 10.22% to $204.79.
Oct. 14, 2015, 6:08 PM
- Tesla's (NASDAQ:TSLA) anticipated autopilot system becomes officially available starting tomorrow as a software update for Model S sedans made after Sep. 2014, as well as Model X SUVs. It uses a mixture of radar, ultrasonic sensors, and cameras to allow a car to change lanes, search for parking, parallel park, and adjust its speed based on traffic flow by itself.
- An auto-steer function is in beta. Altogether, ~60K existing vehicles will support autopilot, but only those who paid $2,500 for it will have access to the full system. Others will only have access to a side-impact warning feature.
- Elon Musk isn't shy about talking up the system. "I think this is going to be quite a profound experience for people. It will change people's perception of the future quite drastically ... Because the software is still at an early stage, it's important people exercise caution, In the long term, drivers will not need to keep their hands on the wheel. Eventually there won't be wheels or pedals."
- Mobileye (NYSE:MBLY) provides driver-assistance (ADAS) systems for Tesla's cars.
Oct. 12, 2015, 3:56 PM
- The Tesla Model X may qualify for a controversial $25K tax break to small business owners who purchase the SUV as a business investment. A narrow subset of X buyers may get the big break because the vehicle appears likely to have a gross vehicular weight over the 6K pound qualifying amount.
- The Bush-era tax code deduction, originally designed for farmers buying tractors and combines, came to be known as the Hummer Tax Loophole when it was used by some businesses to nab a Hummer H2 or H3 SUV.
- The Los Angeles Times reports that Tesla Motors (NASDAQ:TSLA) has confirmed the X may qualify for the Hummer treatment.
- IRS Section 179 Deduction
Oct. 9, 2015, 6:38 PM
- Tesla (NASDAQ:TSLA) was downgraded to Underweight from Equal Weight with a $180 price target - which would breach a 52-week low - today at Barclays, which says the slow Model X ramp reinforces its view that TSLA will miss its 2015 delivery forecast.
- Analyst Brian Johnson says “crossing the chasm” is more difficult than it appears for TSLA despite the company’s “impressive set of products and early leadership in the field of vehicle electrification."
- Last week's Model X rollout failed to provide the expected "technical boost," according to Johnson, explaining: “Launch events typically generate a run-up into the event, with some payback after. Yet last week’s X launch failed to boost the shares - indicating a lack of story-driven buying support."
- Johnson says the X launch reinforces three risks to TSLA’s future stream of deliveries: that TSLA will significantly miss 2015 delivery guidance, there may be little offset from Model S if the X ramp is slow in 2016, and calling into question whether Model 3 will launch on time - which may lead to doubts on the company's ability to become a mass market OEM.
Oct. 9, 2015, 2:24 AM
- In a wide-ranging interview with Handelsblatt, Tesla (NASDAQ:TSLA) CEO Elon Musk trash talks Apple (NASDAQ:AAPL), among other things.
- Asked whether he takes Apple's automotive ambitions seriously: "Did you ever take a look at the Apple Watch? (laughs) No, seriously: It’s good that Apple is moving and investing in this direction. But cars are very complex compared to phones or smartwatches."
- On Apple hiring Tesla's "most important engineers": "Important engineers? They have hired people we’ve fired. We always jokingly call Apple the “Tesla Graveyard.” If you don’t make it at Tesla, you go work at Apple. I’m not kidding."
- On profitability: "I hope to be profitable next year. I agree, we cannot be making losses forever. This year we’ll be investing a lot into the manufacturing ramp-up of the Model X, and in the long term, the Model 3 as well. So our goal from next year onwards is to be cash-flow positive. But we wouldn’t slow down our growth for the sake of profitability."
- On how to grow European sales: "I’ve only been saying it for nine years: step one: expensive car, low volume. Step two: medium price, medium volume. Step three: low price, high volume."
Oct. 8, 2015, 7:33 AM
- Electrek has a breakdown on the likely pricing for the Tesla Motors (NASDAQ:TSLA) Model X with some confusion in the air.
- The EV industry watcher notes $132K is the base price of the Signature Model X P90D.
- The base price of the upcoming Model X 90D is expected to land at $93K.
- The more affordable version of the Model X promised by CEO Elon Musk as recently as this week at the Vanity Fair New Establishment Summit is slated for a price tag of $75K or $65K with full-on incentives.
- Shares of Tesla have been under pressure this week with Model X pricing driving some price targets clips from investment firms. TSLA -0.42% premarket to $230.99.
Oct. 7, 2015, 7:44 AM
- Tesla Motors (NASDAQ:TSLA) is lower in early trading after Baird reduces its rating to Neutral from Outperform.
- Baird reset expectations on the EV automaker after factoring in the pricing on the Model X. The estimate for FY16 EPS is lowered to $2.00 from $3.00.
- "With limited visibility to positive catalysts until the release of the Model III prototype, we are moving to the sidelines," reads the Baird note.
- Yesterday, Morgan Stanley lowered its price target on Tesla, but kept a strong long-term bull call in place.
- Previously: Tesla Motors lower after Morgan Stanley dials back Model X estimates (Oct. 06 2015)
- TSLA -1.72% premarket to $237.31.
Oct. 6, 2015, 10:58 AM
- Morgan Stanley is out with a fresh note on Tesla Motors (NASDAQ:TSLA) as its factors in some of the revelations on the Model X into the equation.
- The typically-effusive MS team cuts its Model X delivery forecast for 2016 to 20K units and to 34K units for 2017, due in part to the high sticker price. The drop in volume will be partially offset by a higher average transaction price, although Morgan thinks Tesla will need to explore alternative EV mobility models to plug the revenue gap.
- Looking further out, the combined volume forecast (Models S, X, and 3) for 2020 is set at 287K by MS, compared to the 500K projection from Tesla.
- The price target on Tesla is reduced by Morgan Stanley to $450 from $465 based on the new Model X forecast.
- Shares of Tesla are down 2.77% to $239.33, which is pretty close to the mid-point of the 52-week trading range of $181.40 to $286.65.
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