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Tesla Motors (TSLA)

  • Thu, Aug. 6, 8:18 AM
    • Cybersecurity researchers took control of a Tesla Motors (NASDAQ:TSLA) Model S vehicle remotely in the latest demonstration of vulnerabilities in the automobile industry.
    • The hacking details will be revealed at a cybersecurity conference later this week, although Tesla has reportedly already issued a software patch to fix the exposure.
    • Shares of Tesla are down 7.65% premarket to $249.50 following yesterday's Q2 earnings report which included a drop in 2015 delivery guidance.
    • Previously: Hacking concerns take center stage in automobile industry (Jul. 31 2015)
    • Previously: OnStar is on deck for hacking demo (Aug. 05 2015)
  • Wed, Aug. 5, 4:44 PM
    • Tesla Motors (NASDAQ:TSLA) announces it delivered 11,532 vehicles in Q2 vs. the pre-announced level of 11,507. Annual guidance is now for 50K-55K units delivered this year, a drop from the prior view for a straight 55K.
    • The company says it produced 12,807 vehicles in the quarter.
    • Q2 revenue included $27M of regulatory credit funds ($14M ZEV sales).
    • Q2 non-GAAP gross margin was 23.4% to miss guidance as higher manufacturing and part costs factored in.
    • Q3 gross margin is expected to be similar.
    • Annual capex spending guidance is kept level at $1.5B.
    • A "small" number of Model X deliveries are expected in Q3. There's a note on the same assembly line being used for the Model X and Model S that could raise some questions.
    • The Model S average selling price is expected to drop about 100 bps in Q3 on a product mix and F/X conversions.
    • Tesla Energy is expected to ramp up in Q4. Details expected on the CC.
    • The conference call is scheduled for 5:30 PM ET (webcast).
    • Tesla shareholder letter (.pdf)
    • Previously: Tesla beats by $0.12, beats on revenue
    • TSLA -6.4% after hours to $253.01.
  • Wed, Aug. 5, 4:35 PM
    • Tesla (NASDAQ:TSLA): Q2 EPS of -$0.48 beats by $0.12.
    • Revenue of $1.19B (+38.8% Y/Y) beats by $20M.
    • Shares -7.6%.
    • Press Release
  • Fri, Jul. 31, 1:50 PM
  • Fri, Jul. 31, 8:30 AM
    • Tesla Motors (NASDAQ:TSLA) is close to releasing a software update covering highway autosteering and parallel parking, according to CEO Elon Musk.
    • Musk says the company is working out contrast details in the case of a vehicle driving into the sun at dusk on a road with faded markings.
    • Similar autopilot systems are being advanced by several major automakers. Analysts expect the technology to be a strong selling feature, although there is a cautious stance due to the implications of a road mishap tied to self-driving technology.
    • TSLA +0.27% premarket to $267.51.
  • Wed, Jul. 29, 3:32 PM
    • Tesla Motors (TSLA +0.1%) announces it will offer a referral program as an experiment through October 31.
    • Owners can earn a $1,000 discount by referring a new customer to the automaker.
    • The referral initiative follows an update by the EV automaker on models, battery options, and adjustment on some pricing points earlier this month.
    • Previously: Tesla Motors delivers new battery option and updates on models (Jul. 17 2015)
  • Wed, Jul. 29, 8:54 AM
    • Tesla Motors (NASDAQ:TSLA) is expanding its demographic reach through the used car market, according to analysis from
    • Used Model S buyers skew younger and dip into lower income brackets, a trend analyst Jessica Caldwell calls "essential" for a brand aiming for the mass market with future models.
    • Caldwell notes the response to the Model S in the used market is at an "unusually" high level for a luxury model.
    • TSLA is flat in premarket trading, holding at $264.56.
  • Mon, Jul. 27, 9:43 AM
    • Tesla Motors (TSLA -1.1%) signs a deal to supply three San Diego-area high schools with stationary battery storage systems.
    • The deal is one of the larger energy contracts disclosed so far for Tesla Energy.
    • Significant cost savings are anticipated for the school district.
  • Tue, Jul. 21, 7:29 AM
    • Tesla Motors (NASDAQ:TSLA) is clipped in early trading from by an UBS downgrade on the company to a Sell rating.
    • The investment firm warns Tesla's current market valuation implies storage and auto volume growth targets that may be out of reach.
    • UBS trims its price target to $210 from $220.
    • TSLA -4.03% premarket to $270.88 after a brisk three-day rally pushed shares over $282.
  • Sun, Jul. 19, 9:43 AM
    • Major automakers face pressure from a drop in demand in China amid economic weakness. Deliveries turned negative in June for the first time since February of 2013 and the China Association of Automobile Manufacturers now expects industry sales growth of 3% vs. a prior forecast of 7%. Vehicle sales were up 1.4% to 11.85M units during 1H.
    • Volkswagen (OTCQX:VLKAY) relies on China for half of its net profit and 71% of free cash flow. Credit Suisse notes the China factor gives the German automaker the punch to make a dividend possible.
    • General Motors (NYSE:GM) churned up 40% of its new income and 20% to 30% of its operating cash flow from China, according to an estimate from Barclay tied to its downgrade of GM earlier in the week. Goldman Sachs and Buckingham Research have also recently cut profit estimates on GM.
    • Ford (NYSE:F) cut its sales outlook for the China auto market to 24M-26M vehicles after Q1. The company could revise the broad forecast lower again with its Q2 report on July 28 and reset its own sales expectations.
    • There's been some pricing cuts by the Japanese automakers (OTCPK:NSANY, TM, HMC, OTCPK:MZDAY, OTCPK:SZKMY, OTCPK:FUJHY, OTCPK:MMTOF) and German high-end sellers (OTCPK:BAMXY, OTCPK:DDAIF) as they adjust to the "new normal" in China.
    • Tesla Motors (NASDAQ:TSLA) is still trying to get out of first gear in China. The reception to the Model X debut next year and the impact of EV subsidies are key factors.
    • Domestic automakers (OTC:CQCAF, OTCPK:GWLLF, OTCPK:GWLLY, OTCPK:GELYF, OTCPK:GELYY, OTCPK:BYDDY, OTCPK:BYDDF, OTCPK:DNFGY, OTCPK:DNFGF) have increased market share in China this year in key segments, but are feeling the same pinch from the drop in expected overall demand.
  • Fri, Jul. 17, 2:40 PM
    • Tesla Motors (TSLA +2.4%) gives Model S owners a new option with a $3K battery upgrade to a 90-kilowatt version.
    • Range is extended to 300 miles at 65 mph with the new battery.
    • CEO Elon Musk promises "ludricious" mode with a software update which helps deliver 0-to-60 acceleration in 2.8 seconds. The time drops to around 3.2 to 3.3 seconds for the Model X SUV.
    • The price on the single-motor Model S drops to $70K.
    • Musk says the company is focused on making "awesome" cars - instead of directly commenting on the impact on sales of the Model S upgrades.
    • Separately, Tesla states the Model X is on track for deliveries starting in two months. The Model 3 is still a bit more than two years off.
    • Shares of Tesla moved lower during the course of the call and model update, but are nearly back to where they started at the top of the hour.
  • Fri, Jul. 17, 12:04 PM
  • Thu, Jul. 16, 6:58 PM
    • Tesla (NASDAQ:TSLA) hasn't disclosed what it will be announcing at its Friday event, which is set for 2PM ET. However, there's plenty of speculation the event involves the Model X.
    • TSLA +1% AH to $269.40. Shares +21% YTD.
    • Earlier: Tesla preps for Model X introduction in Asia
  • Thu, Jul. 16, 11:54 AM
    • Tesla Motors (TSLA +1.4%) expects to sell its Model X in China during the first half of 2016.
    • The company will utilize a network of showrooms in larger cities to introduce the SUV to Chinese consumers.
    • As far as powering up Model S and Model X vehicles in China, the number of Tesla charging stations is up to 1.4K, while superchargers are also being added at a fast clip. Superchargers are reported to still be free for Chinese drivers similar to Tesla's policy in North America (some third-party charging stations in China charge fees).
    • An introduction of the Model X in Japan is also expected in early 2016. Tesla has been accepting reservations in Japan for the X since 2013.
    • Expansion for Tesla in Asia could also include South Korea if a recent job posting has significance. Though bigger than some European markets where Tesla does well, South Korea is a relatively small automobile market.
  • Wed, Jul. 15, 7:18 AM
    • Tesla Motors (NASDAQ:TSLA) has tripled its land holdings in Nevada, according to The Wall Street Journal.
    • The company utilized an option on its purchase agreement originally signed in 2011 for the land near Reno.
    • Most of the acreage will be "buffer land"which can be used for solar arrays as needed, stated a Tesla spokesperson.
    • The Gigafactory could employ up to 6.5K people after it's completed.
  • Fri, Jul. 10, 3:32 PM
    • Elio Motors has raised $16M in just 19 days from an online crowdsourcing campaign aimed at helping it manufacture a vehicle listing for $6.8K.
    • The startup automaker is looking to raise a total of $25M through a new passage in the JOBS Act that also falls in line with SEC regulations.
    • Plans have been laid out by Elio Motors to develop the two-seat, three-wheel vehicle with a fuel economy rating of 84 mpg. An early prototype is reported to have reached a top speed of 100 mph. The vehicle is technically defined as a motorcycle which makes it a potential rival of Harley-Davidson (NYSE:HOG) and the super-budget segment of the automobile sector. That is if the startup beats the odds to manufacture at scale.
    • The company says it wants to emulate the direct sales model of Tesla Motors (NASDAQ:TSLA) and partner with Pep Boys (NYSE:PBY) for service. Pre-orders of over $290M have been received, according to Elio's website.
    • Suppliers for the Elio model include Lear (NYSE:LEA), Cooper Tire & Rubber (NYSE:CTB), and Bosch - while production is planned for an old GM plant in Louisiana.
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Company Description
Tesla Motors Inc designs, develops, manufactures and sells high-performance fully electric vehicles and electric vehicle powertrain components.