Thu, Mar. 12, 7:57 AM
- Toyota (NYSE:TM) confirms that yesterday's recall of RAV4 EVs due to a software flaw in the propulsion system involved a component supplied by Tesla Motors (NASDAQ:TSLA).
- The recall only involved 2.5K vehicles - a minor amount compared to the high-profile GM (ignition switch) and Honda (airbag) recalls over the last year.
- Details on the RAV4 EV issue are limited as automakers typically clam up when asked for breakdowns on recall costs and supplier relationships.
- The partnership between Toyota and Tesla ended last year with the Japanese automaker turning part of its focus to hydrogen-powered cars.
- Previously: New round of Toyota recalls total 112.5K (Mar. 11 2015)
Tue, Mar. 10, 6:11 PM
- Tesla Motors (NASDAQ:TSLA) says it can deliver its top-of-the-line P85D Model S dual-motor, four-wheel-drive electric sedan within 20 days, far shorter than its less expensive models and indicating it has shifted production to the $105K-and-up sedan to boost revenue, WSJ reports.
- TSLA’s online ordering tool this week shows the P85D is available for delivery in late March, while the $71K-and-up single-electric motor Model S is first available in May.
- The short wait time - in the past year deliveries have been as long as three months - raises concerns about the strength of demand for TSLA’s pricey cars, the report says.
Tue, Mar. 10, 12:48 PM
- Tesla Motors (TSLA +1.2%) is higher on the day on solid volume after starting off in negative territory.
- A Tesla presentation at the ROTH Conference in California on the Gigafactory is shifting some focus away from the automaker's struggles in China.
- The early part of the presentation has covered the potential of the Gigafactory without going into specifics.
- Last week, CEO Elon Musk tweeted a link to a picture of the Nevada site in an attempt to show construction was firmly on target.
- Shares of Tesla are down 13.3% YTD.
- ROTH Conference webcast
Mon, Mar. 9, 2:57 AM
- Tesla (NASDAQ:TSLA) has confirmed that it will cut jobs in China as it continues to grapple with slow sales in the world's biggest car market.
- Tesla declined to specify how many jobs would be cut, but China's Economic Observer reported earlier that the automaker would eliminate 30% of its Chinese staff, or about 180 of its 600 employees.
- According to a Reuters report last month, Tesla only sold 120 cars in China during January.
- Previously: Does Tesla Motors have a China problem? (Feb. 10 2015)
Fri, Mar. 6, 3:59 PM
- Tesla (TSLA -3.4%) says construction of its Nevada Gigafactory remains on schedule despite a report from a local newspaper that said the project was delayed.
- The International Brotherhood of Electrical Workers union had posted on a jobs board that the construction project had been cut back 80%, according to a report in the Reno Gazette-Journal.
- The plant, which may cost as much as $5B, is designed to more than double the world’s supply of lithium-ion batteries, driving down costs and making electric cars more affordable.
Wed, Mar. 4, 1:59 PM
- Tesla Motors (TSLA +0.3%) is advertising for 78 open positions for its new stationary-storage unit.
- The company calls the business a multi-billion dollar revenue maker in the near term in one of the job descriptions (see DevOps posting).
- Tesla has promised more details on its energy storage plans in the near future after listing it as a current product in recent SEC filings.
- Analysts have noted the potential for the company to realize lusher margins in storage supply than automobiles.
- Tesla Motor's Annual Report (10-Q filing)
Wed, Mar. 4, 12:34 PM
- Investors betting on the Chinese automobile market need to factor in how runaway pollution impacts investment potential, warn analysts.
- The air Pollution index in China has hit dangerous levels this week with Beijing registering a 168 today and Nanjing hitting a shockingly high 288 yesterday (extremely unhealthy).
- Other cities with an "unhealthy" reading on air quality include Guangzhou, Nanjing, Maanshan, Chengdu, Chuzhou, Zhenjiang, Yahgzhou, Wuhu, and Hong Kong.
- Reports indicate the Chinese population has become more concerned about the medical ramifications of long-term exposure to pollution.
- Some automobile industry watchers think foreign car manufacturers could benefit at the expense of domestic automakers if the government in China is to take further steps to push low-emission cars and EVs.
- The other side of the equation is the restrictions placed on car sales in certain regions in the nation.
- China auto sales are expected to rise 8.3% this year.
- China-related auto stocks (including JVs): KNDI, OTCQX:VLKAY, GM, F, OTCPK:DDAIF, TSLA, OTCPK:BAMXY, OTCPK:BCAUY, OTCPK:GWLLY, OTCPK:GWLLF, OTCPK:GELYF, OTCPK:GELYY, OTCPK:DNFGF, OTCPK:DNFGY, OTC:HYMLF, CAAS, SORL, OTCPK:BYDDY, OTCPK:BYDDF.
Tue, Mar. 3, 3:16 PM
- All-electric and plug-in hybrid car sales showed only modest growth in the U.S. during February.
- A slow pace of sales in February was expected for the Leaf and Chevrolet Volt with General Motors and Nissan holding back on marketing efforts in front of this summer's release of next-gen models.
- The surprise of the month may have been BMW i3 topping the 1K mark during the tough weather period and with lower gas prices in the background.
- YTD EV sales are running slightly ahead of last year's pace.
- Looking ahead: Though EV sales are only a fraction of the total U.S. auto market, repping only ~15% of sales of the Toyota Camry for instance, major bets are being laid out by automakers on research and development. Exponential demand growth in the segment will be needed to make the Model X, Chevrolet Bolt, BMW i3, 2016 Toyota Prius PHV, 2016 Leaf, and other notable entries major successes.
- February EV sales scorecard (units): Nissan Leaf 1,198, Model S 1,150 (estimated), BMW i3 1,089, Chevrolet Volt 693, Toyota Prius PHV 397 (plug-in not conventional hybrid), Cadillac ELR 127, Chevrolet Spark 119, BMW 113.
- Related stocks: Tesla Motors (NASDAQ:TSLA), Toyota (NYSE:TM), BMW (OTCPK:BAMXY), Nissan (OTCPK:NSANY), General Motors (NYSE:GM).
Mon, Mar. 2, 10:49 AM
- Tesla Motors (NASDAQ:TSLA) is down 3.17% to $196.88 on above-average volume.
- The last few times Tesla shares have slid under the $200 mark there has been enough support to lend a relatively quick recovery, although Tesla skeptics think this time around is different.
- The release of Tesla's 10-K late last week has been the biggest story over the last few days.
- 10K-sleuthing: Barclays noted earlier today that Tesla is now building cars beyond the number of orders it has piled up and that gigafactory costs are only in their infancy. The WSJ dug out that Tesla staffing went up 73% Y/Y to 10,161 and the R&D spend was up 100.3%. On a per-vehicle basis, advertising and marketing costs rose 273% to $1,493. Some hints on the Model X were viewed as favorable.
- Tesla Annual Report
Thu, Feb. 26, 11:33 AM
- Tesla Motors (NASDAQ:TSLA) is up over 3% on a volume spike off a shaky rumor linking Apple to the EV automaker.
- It's possible that algorithm trading kicked in when a Chinese site titled an article "Apple's acquisition of Tesla" and ran loose with some speculation.
- Here's the Chinese site which kicked off the buzz and the Google Translate version which doesn't show much fruit on the Apple tree.
Tue, Feb. 24, 1:25 PM
- Consumer Reports selects the Tesla Model S as the best overall model with an overall score of 99 on a combined measure of safety, performance, and reliability.
- Though scoring off the charts on performance and equivalent gas mileage, the Model S was only "average" for reliability.
- Other segment winners are listed below.
- Compact car: Subaru Impreza (test score 79).
- Midsize sedan: Subaru Legacy (test score 89).
- Large car: Chevrolet Impala (test score 91).
- Luxury car: Audi A6 (test score 90).
- Green car: Toyota Prius (test score 75).
- Sports sedan: Buick Regal (test score 83).
- Small SUV: Subaru Forester (test score 86).
- Large SUV: Toyota Highlander (test score 84).
- Minivan: Honda Odyssey (test score 84).
- The pickup category was skipped by CR due to the newness of the F-150 and Chevy Colorado launch.
- Automaker stocks: GM, F, TM, HMC, TSLA, OTCQX:VLKAY, OTCPK:DDAIF, OTC:HYMLF, OTCPK:BAMXY, OTCPK:MMTOF, TTM, OTCPK:SZKMY, OTCPK:FUJHY, OTCPK:GELYF, FCAU, OTCPK:NSANY, OTCPK:DDAIF, OTCPK:MZDAY, TSLA.
Mon, Feb. 23, 10:04 AM
- Bank of America Merrill Lynch thinks Tesla Motors (NASDAQ:TSLA) won't be able to divert the attention of investors away from quarterly numbers to focus on long-term potential for much longer.
- In a biting note, analyst John Lovallo calls into question the thesis that Tesla is a production-constrained company without any demand worries.
- The investment firm and Lovallo have rode an Underperform rating on Tesla since 2013 when shares traded in the $30s.
- Lovallo and Morgan Stanley's Adam Jonas are at polar opposites in the Tesla debate.(See: Tesla Motors: Model X out in the wild, another bull call from MS)
- BAML chiseled its price target on the EV automaker down to $65 from $70.
- Shares of Tesla are -1.35% to $214.39 on strong volume in early trading.
Thu, Feb. 19, 10:14 AM
- Morgan Stanley maintains an Outperform rating and $280 price target on Tesla Motors (NASDAQ:TSLA) in a new note which includes its fair share of "ifs" that the EV automaker needs to hit.
- Analyst Adam Jonas says an on-time Model X could set up shares to reach an all-time high by the end of the year.
- Nothing brand-new, but Jonas also says he's willing to take on the cash burn risk on the stock in order to bet on Tesla disrupting the industry.
- Skeptics have accused Jonas of being a Tesla acolyte ever since one of his research notes last year forecast a "utopian society" of self-driving cars with Tesla at the center.
- The Model X prototype has been spotted out in the wild in California more frequently this month, giving auto enthusiasts something to chew on.
- A production version of the Model X isn't expected until the assembly line is rolling.
- Shares of Tesla are up 0.93% to $206.35 on average volume. The $210 price level hasn't been cracked since before the EV automaker reported Q4 earnings.
Tue, Feb. 17, 3:45 PM
- The number of electric vehicle charging stations (including households) in Japan has soared to 40K, according to data compiled by Nissan (OTCPK:NSANY). The tally is about 6K higher than the number of gas stations in the nation.
- Demand for EVs in South Korea hasn't taken off despite government subsidies. A summary from Insidevs.com indicates less than a thousand electric cars were sold in 2014 with Kia (OTC:HYMLF) accounting for a majority of them.
- The presence of Apple (see today's latest) and Google hanging over the automobile industry has given a lift to select stocks associated with the EV market in China. There's also talk from Beijing of new policies to support EV sales in the nation.
- It's been a relatively quiet day for Tesla Motors (NASDAQ:TSLA), although the company did set its attorneys loose in Missouri to join a lawsuit in the state over the direct-to-consumer sales model. Shares of Tesla are up 0.4% to $204.56 on light volume.
Sat, Feb. 14, 12:25 PM
- Tesla Motors (NASDAQ:TSLA) has already spent $53.1M on construction at its Gigafactory site, according to analysis from the Reno-Gazette Journal.
- The publication relied on Tesla permits and local assessors in making its determination.
- The cost of the massive project is expected to be a major focus with estimates from analysts ranging widely.
- Earlier this week, Tesla missed EPS estimates with its Q4 report.
- Previously: Tesla's Q4 hurt by delayed deliveries; strong 2015 growth expected (Feb. 11)
- Previously: Tesla misses by $0.44, misses on revenue (Feb. 11)
Sat, Feb. 14, 10:53 AM
- The automobile industry was jolted yesterday by reports on Apple developing its own electric vehicle.
- Though the development has the potential to be disruptive for EV automakers, the impact could be even larger for companies betting on fuel cells if the $740B Cupertino giant takes a strong position in the EV vs. hydrogen debate through a partnership or vehicle introduction.
- Shares of Tesla Motors only showed a mild reaction to the Apple reports yesterday during the regular session and AH trading.
- Toyota is the company out in front on FCV development with the Mirai debuting in many markets this year. The automaker audaciously calls the model the "turning point" in automotive history.
- In regard to Apple, by most appearances, Toyota has been slow-playing the integration of Apple's CarPlay into future platforms.
- Related: The electric vs. hydrogen debate just got interesting (Jan. 15 2015)
- Related: Fuel cell development in Japan to gear up before 2020 Olympics (Jan. 20 2015)
- Related: Millennials have the steering wheel now (Jan. 31 2015)
- Related: Apple car project is for real, and it's a minivan (Feb. 13 2015)
- Automobile industy stocks: GM, F, TM, HMC, OTCPK:NSANY, TSLA, OTCQX:VLKAY, OTCPK:DDAIF, OTC:HYMLF, OTCPK:BAMXY, OTCPK:MMTOF, TTM, OTCPK:SZKMY, OTCPK:FUJHY, OTCPK:GELYF, FCAU, BLDP, KNDI.
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