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Archive for the ‘Tesla’ Category

Easter Comes Early for the Ford Ranger

Automaker's marketing team hides Easter eggs in promo pictures.

by on Oct.29, 2018

Some Ford's picture promoting the new Ranger pickup feature Easter eggs hidden in the background.

Ford Motor Co. is hyping the Ranger, its new entry in the fast-growing midsize truck segment, with a mix of media focusing on its capability, technology and economy. However, it’s throwing in a few Easter eggs for good measure.

No, not actual dyed eggs, but hidden images within the promotional pictures of the new truck slated to hit dealer showrooms in early 2019.

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The pictures have an array of things lurking in the background ranging from the imaginary jackalope to the Loch Ness monster and more. The first two were in the images released during the North American International Auto Show in January and now there are eight total. (more…)

Tesla: No Subpoena from Justice Department — Yet

FBI interview former employees about Model 3 production.

by on Oct.26, 2018

The FBI is interviewing former Tesla employees about Model 3 production. Tesla officials say no company officials have been subpoenaed.

Tesla Inc. and CEO Elon Musk may have resolved their issues with the Securities and Exchange Commission, but an ongoing criminal investigation by the Department of Justice appears to be motoring along in high gear.

The company told the Wall Street Journal that it hasn’t been subpoenaed by the DoJ regarding potentially fraudulent claims made by Musk and the company about the Model 3.

Breaking News!

Officials at the Palo Alto, California-based EV maker say they cooperated with what they described as a “voluntary request” for documents from the Justice Department in September, a Tesla spokesperson told Reuters.  (more…)

Tesla’s Musk Says Company Focusing on What’s Next

Company looking to expand Model 3 production.

by on Oct.25, 2018

Tesla CEO Elon Musk is now focusing on the next task: another profitable quarter.

With a profitable quarter now in the books, Tesla CEO Elon Musk is looking to meet the next set of challenges, starting first with making a profit next quarter.

“It will be our aspiration for all quarters going forward,” he told analysts during the company’s earnings call yesterday. He also outlined additional goals for the company moving forward and dismissed negative notions about the company’s first profitable quarter in years.

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Musk said the company’s profit didn’t come at the expense of other things, such as cutting back on product development. In fact, he said he’d just approved the prototype for the Model Y and other improvements on the company’s second-generation Roadster. He confirmed the Model Y would be in production in 2020. (more…)

Consumer Reports: Domestic Vehicle Reliability Slipping

Domestic brands struggled in this year's survey.

by on Oct.25, 2018

Toyota and its luxury sibling topped this year's Consumer Reports reliability survey of 29 brands.

Toyota and Lexus came out on top in Consumer Reports annual reliability survey thanks in large part to a cautious approach to adapting to new technology.

However, the Toyota Tundra, the automaker’s entry into the full-size truck segment, slipped off Consumer Reports list of recommended vehicles, Jake Fisher, Consumer Reports director of automotive testing, disclosed during a meeting of Detroit’s Automotive Press Association.

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Fisher said overall it was a difficult year for domestic brands as Buick, Chevrolet, Cadillac and Chrysler were among the brands that dropped in the Consumer Report’s new car reliability survey. Honda, which performed well in earlier years, also has slipped, he said.  (more…)

Tesla Bucks Analysts Predictions, Turns Q3 Profit

EV maker reports net income of $312 million.

by on Oct.24, 2018

Tesla's Model 3 production has been the focus of the company much of the year, and its paid off with profits.

He may not be much on meeting production deadlines, but Tesla CEO Elon Musk predicted the company would be profitable in Q3 and, well, it is.

The company reported GAAP net income of $312 million on $6 billion for its automotive business. Perhaps more importantly, it produced a better than 20% margin on the new Model 3, Musk noted.

Global News!

“It was a truly historic quarter for us,” he said during the company’s earnings conference call. “Our total cash increased by $731 million and we had free cash flow (operating cash flow less capex) of $881 million despite less than 10% of that amount coming from key working capital items.” (more…)

Tesla Slumps in Consumer Reports Reliability Ratings

But owners don’t seem to care.

by on Oct.24, 2018

The Tesla Model X saw a small gain in its ranking in Consumer Reports' Annual Reliability Survey.

The Tesla Model X posted what might be considered a very modest improvement in Consumer Reports’ latest annual Automotive Reliability survey: the influential magazine rating it the second-worst vehicle on the road after being ranked the absolute worst in 2017.

Tesla fared poorly, on the whole, in the closely followed study which looks at how readers rank the reliability of their vehicles. The California carmaker came in 27th among the 29 auto brands CR rated, ahead of only Cadillac and Volvo.

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Perhaps the biggest disappointment for the carmaker came with the decision by Consumer Reports to withdraw its coveted “Recommended Buy” rating for the Model S sedan due to an increase in reliability issues. On the plus side, the magazine gave the new Model 3 an “average” score – though Jake Fisher, CR’s director of automotive testing, cautioned that Tesla will have to prove it can retain the compact battery-sedan’s quality as it adds more versions. (more…)

Tesla Could Have a Surprise as it Prepares for Early Earnings Announcement

Consensus calls for another loss, but a key short-seller has now gone bullish.

by on Oct.24, 2018

Does Tesla CEO Elon Musk have a surprise awaiting analysts with today's earnings announcement .

Tesla stock has surged about 14% this week, largely driven by news that a long-time critic is suddenly singing a new tune.

Activist short-seller Andrew Left has long held a negative view on the California carmaker but this week wrote that Tesla is “destroying the competition,” while adding that “warning signs” that have scared off many other investors “have proven not to be significant.”

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Left and other Tesla bulls could find out if they’re placing the right bets when the company reveals its third-quarter earnings this evening. What professional gamblers might call a significant “tell” is the fact that Tesla has decided to move up the release of its financial report which originally wasn’t expected until early next month. Instead, it will be released today at 6:30 PM EDT. (more…)

Musk’s Boring Company Set to Offer Test Rides in Pilot Tunnel

Short stretch to debut on Dec. 10.

by on Oct.22, 2018

On Dec. 10, Elon Musk's Boring Company will offer free test rides in Los Angeles its test tunnel in California.

Elon Musk’s Boring Company plans to unveil its first “test tunnel” in the Los Angeles suburb of Hawthorne on Dec. 10, and will offer “free rides” to the public a day later, the 47-year-old executive tweeted.

The ultimate goal, Musk previously announced, was to set up a network of underground tunnels that will permit vehicles, pedestrians and bicyclists to whisk around the City of Angels at speeds of up to 150 mph, avoiding the city’s notoriously gridlocked streets. Musk has indicated rides for individuals could run as little as $1.

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“The first tunnel is almost done,” Musk tweeted Sunday night to his 23 million followers. The pilot tunnel  “Opens Dec 10,” he tweeted, adding, “Opening event that night & free rides for the public the next day.” (more…)

Tesla Launches Lowest-Price Version of Model 3 Yet – But It’s Still Not the $35,000 Sedan Promised

New version actually will start at $45,000 before incentives – if fed tax credits will still be available.

by on Oct.19, 2018

Tesla CEO Elon Musk made good on his prediction of 55,000 Model 3 sedans in Q3. Now he's offering lower-priced variants.

With production finally on the rise at its Fremont, California assembly plant, Tesla is expanding the line-up of Model 3 variants, CEO Elon Musk late Thursday announcing what he billed as the lowest-price version of the battery-sedan yet offered.

But potential buyers might need to check the fine print carefully. According to a tweet from Musk, the new version of the Model 3 will cost $35,000 with the “true cost of ownership is closer to $31k after gas savings.”

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But this is not the $35,000 Model 3 that Musk promised to build when the sedan was first unveiled two years ago, setting off a flurry of activity, with about 400,000 potential buyers eventually putting down $1,000 deposits. The list price is actually $10,000 more. (more…)