Today, 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.
Today, 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."
Yesterday, 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.
Wed, Oct. 7, 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.
Tue, Oct. 6, 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.
Fri, Oct. 2, 4:31 PM
- Tesla's (NASDAQ:TSLA) Q3 deliveries were up just slightly from Q2's 11,532 - a one-week planned production shutdown weighed - but up 49% Y/Y and in-line with guidance for deliveries to be nearly flat Q/Q.
- The deliveries are said to include the first ones for the recently-unveiled Model X. In its Q2 shareholder letter, Tesla forecast 50K-55K deliveries for the whole of 2015.
- TSLA -0.6% after hours to $246.00.
Wed, Sep. 30, 7:31 AM
- Shares of Tesla Motors (NASDAQ:TSLA) are higher in early trading following the company's Model X showcasing last night in California.
- Automobile industry watchers have issued largely positive reviews on the Model X with the engineering behind the falcon doors and the car's overall design gaining the most acclaim.
- The Model X will be a significant model in the thin luxury SUV segment for a while before potential competition from Audi, Rolls-Royce, Lamborghini, Aston Martin, and Bentley crowds the space.
- During the presentation last night, Elon Musk said he expects the Model X to get half its sales outside of North America and overall volume to be roughly at the same pace as the Model S.
- Previously: The EPA releases Model X fuel economy and driving range (Sep. 29 2015)
- Previously: Tesla finally launches SUV (Sep. 30 2015)
- TSLA +2.26% premarket to $252.22.
Wed, Sep. 30, 3:35 AM
- Tesla (NASDAQ:TSLA) last night launched its long-awaited Model X sports-utility vehicle, which features two electric motors, a range of around 250 miles and seating for seven people, as well as "falcon wing" rear doors that can open differently depending on conditions.
- Tesla CEO Elon Musk said around 25,000 people had ordered the SUV, but they'll have to wait 8-12 months to receive their car.
- The Model X costs up to $144,000, although Tesla intends to introduce a cheaper version.
- The SUV is Tesla's second model, after the Model S sedan, and while production of the new car has started, it's two years behind schedule. Part of the problem, Musk indicated, was that they made the car too snazzy.
- "In retrospect, we would not have had so many features and functionality," Musk said.
Tue, Sep. 29, 6:57 PM
- Tesla Motors (NASDAQ:TSLA) is still hours away from its Model X event, but the EPA already some of the numbers that be of interest to the EV industry.
- The Model X AWD 90D has a combined city/highway rating of 92 and the Model X AWD P90D comes in at 89 combined mpg.
- The driving range of the first model is 257 miles and the second choice has a range of 250 miles.
- EPA Model X information
- Previously: Tesla Motors to launch Model X tonight (Sept. 29)
Tue, Sep. 29, 7:42 AM
- Tesla Motors (NASDAQ:TSLA) will unveil the Model X tonight at an event at its factory in Fremont, California. The EV automaker will also make its first delivery of the SUV.
- The automaker is expected to disclose pricing on all styles of the Model X and questions on specific features will finally be answered.
- Tesla has taken over 31K reservations, according to an unofficial tally on the Tesla Motors Club blog.
- The Model X reveal is scheduled for 7:00 Pacific time.
Thu, Sep. 24, 9:26 AM
- Tesla Motors (NASDAQ:TSLA) has avoided the painful losses seen by European automakers and the Detroit Three since the Volkswagen crisis unfolded last Friday. Shares are roughly flat since the Volkswagen reveal.
- The EV automaker is seen as having less regulatory risk as its peers. Optimists think Tesla could even benefit from the increased focus on CO2 emissions from regulators, as well as statements this week from Pope Francis on climate control.
- The debate on Tesla this week has focused more on grand themes than number-crunching on deliveries. The potential of Apple building or partnering on its own electric vehicle and the impact of crude oil prices staying below $50/bbl top that list.
- Previously: Tesla Motors lower after WSJ report on Apple EV (Sep. 21 2015)
- Previously: WSJ: Apple steps up electric car efforts, aims for 2019 shipping date (Sep. 21 2015)
Mon, Sep. 21, 1:50 PM| Mon, Sep. 21, 1:50 PM | 171 Comments
Mon, Sep. 21, 10:53 AM
Mon, Sep. 21, 9:03 AM
- The cost of batteries for electric vehicles and hybrids is a major topic at the Frankfurt Motor Show where execs stressed the continued double-digit annual decline in cost per kilowatt.
- Battery prices are down to a $300/kWh-$400/kWh range and are forecast to drop below $200/kWh by the end of the decade.
- Analysts think a drop in battery prices to $100 kWh is necessary to help the EV industry compete at a comparable scale to gas-powered models.
- Talk will fade into hard numbers as Nissan (OTCPK:NSANY), Tesla Motors (NASDAQ:TSLA), and General Motors (NYSE:GM) produce their new electric vehicles in larger numbers.
Fri, Sep. 18, 3:07 PM
- "Women dominate the crossover SUV segment," notes Edmunds.com's Jessica Caldwell. It's an assertion not being ignored in the electric SUV category.
- Tesla Motors (TSLA -0.8%) expects to see strong demand for the Model X from women after Model S buyers skewed heavily to the male side.
- A statistic not lost on Tesla designers is that women purchase 53% of all the small SUVs in the country. Tesla appears to be in-line with that ratio. Earlier this year, Elon Musk tipped that over half of the company's Model X orders are from women buyers.
- The first Model X deliveries are scheduled to go out on September 29.
- Audi (OTCQX:VLKAY) is also aiming for more women buyers with the design of its all-electric e-tron quattro. The concept version of the +300-mile range model was unveiled this week with deliveries slated for 2017.
Fri, Sep. 18, 12:26 PM
- An EPA recall of Volkswagen diesel cars for Clean Air Act violations will cover 482K vehicles.
- Models included in the recall action include the Volkswagen Jetta (model years 2009-15), Volkswagen Beetle (2009–15), Audi A3 (2009–15), Volkswagen Golf (2009–15), and Volkswagen Passat (2014-15).
- Automobile industry analysts say the aggressive EPA action shouldn't be taken lightly by other automakers as its tips a deeper commitment by the government to enforcing clear air rules.
- Previously: EPA set to make announcement on major automaker (Sep. 18 2015)
- Previously: The EPA accuses Volkswagen of Clean Air Act violations (Sep. 18 2015)
- Automakers: GM, F, TM, FCAU, HMC, OTCPK:NSANY, TSLA, OTCQX:VLKAY, OTCPK:DDAIF, OTC:HYMLF, OTCPK:BAMXY, OTCPK:FUJHY, OTCPK:MMTOF, TTM, TSLA, OTCPK:MZDAY.
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