Detroit Bureau on Twitter

Posts Tagged ‘tesla production’

Tesla Sets Q1 Production, Sales Records

Despite analysts' caution, investors continuing driving up shares.

by on Apr.03, 2017

Tesla has been launching non-traditional showrooms and displays, like this one at a Nordstrom's.

Tesla got a jump on the rest of the auto industry, reporting late Sunday that it set new production and delivery records for the first quarter of the year.

That comes as particular good news for the Silicon Valley manufacturer of electric vehicles, Tesla stretching its finances as it prepares for the launch of the all-new Model 3 sedan later this year. Sales had slumped during the final quarter of 2017 due to a mix of production snags, including the shift to a new version of the maker’s Autopilot system.

Auto News!

Tesla was forced to return to Wall Street late in the January-March quarter, raising about $1.4 billion in a new stock offering. Investors responded positively, despite CEO Elon Musk’s warning that the maker’s finances were “getting very close to the edge.”


Tesla Warns of Slow Model 3 Deliveries.

Bad news for Tesla could be good news for Chevrolet’s new Bolt.

by on Oct.19, 2016

Tesla still hopes to have the first Model 3 sedans in production during the 2nd half of 2017.

Looking to buy one of Tesla’s new Model 3 battery-cars? You can look for a long wait.

Those who put in an early reservation for the carmaker’s first mainstream model might yet get a Model 3 delivered before the end of next year, Tesla now says more recent orders won’t be fulfilled until 2018. And some analysts questions whether the company will even meet that goal, considering its history of missing targets with new products.

Stay Plugged In!

That could be good news for Chevrolet, however. The Detroit maker expects to start delivering the first of its own affordable, long-range electric vehicles before year-end, and battery supplier LG Chem said this week that it believes there will be demand for as many as 30,000 Chevy Bolt EVs in 2017.


Tesla Deliveries Surge 70% in Q3

Upturn after EV maker’s first-half sales shortfall.

by on Oct.03, 2016

The Tesla Model X launch has been a thorn in the company's side, production still a challenge.

Tesla Motors saw third-quarter deliveries of its Models S and X battery-electric vehicles surge 70% during the third quarter, a significant improvement over recent quarters that saw the California-based manufacturer fall short of its targets.

Tesla also said that it expects deliveries during the fourth quarter to come in “at or slightly above” the July to September numbers, something that would put the maker on a path to rolling out more than 2,000 of the battery-electric vehicles, or BEVs, each week for the rest of the year.

News Now!

In turn, company officials have indicated that could translate into a profit for the maker – using non-standard accounting procedures – after some recent, heavy losses.


Tesla to Complete SolarCity Takeover Despite Concerns

All-stock deal worth $2.6 bil, but critics cite conflicts of interest.

by on Aug.01, 2016

A series of SolarCity solar panel installations.

Despite concerns about potential conflicts of interest, Tesla Motors said Monday morning that it would complete its takeover of the solar power company SolarCity, a move it believes will lead to numerous synergies in its broader green energy strategy.

Tesla CEO Elon Musk said the all-stock, $2.6 billion deal will almost immediately result in $150 million in cost-savings, describing the deal as a “no-brainer” that “we should have done sooner.” But reaction has been skeptical since the proposed takeover was announced more than a month ago.

Power Up!

Together, Tesla and SolarCity “expect to save customers money by lowering hardware costs, reducing installation costs, improving our manufacturing efficiency and reducing our customer acquisition costs,” Tesla said in a statement.


Tesla Production Up, But Sales Fall Short of Goal

Investigation ramps up into fatal Model S Autopilot crash.

by on Jul.05, 2016

The Model X accounted for barely a third of Tesla's second-quarter production.

While the U.S. new car market is clearly slowing down after a spectacular rebound from the Great Recession, Tesla Motors continues to boost sales at a double-digit pace – but still managed to fall short of expectations.

Tesla says it delivered 14,370 vehicles during the second quarter, but that was 15% less than the 17,000 the battery carmaker had predicted as recently as May. While Tesla had been hoping to roughly split production between the Model S sedan and newer Model X battery SUV, volume was still weighted more than two-to-one towards the electric sedan, apparently reflecting ongoing quality and production problems with the utility vehicle.

Beyond the Headlines!

News of the weak market performance comes at an inopportune time for Tesla. The maker is facing an investigation by the National Highway Traffic Safety Administration over the fatal crash of a Model S being driven in semi-autonomous Autopilot mode. There has been growing concern about the system, with numerous reports of it being misused by owners.


Rising Lithium Prices Threaten to Short-Circuit EV Market

Tesla's projected top-end sales takes all of world's current lithium production.

by on Apr.18, 2016

Rising lithium prices, in part because of the locations of the mines, could crimp EV sales going forward.

The plunging price of petroleum isn’t the only thing threatening to derail demand for battery-based vehicles. At a time when most commodity prices – everything from oil to gold to copper – have been on the decline, traders continue to bid up the fundamental component of today’s electric vehicles: the lithium used in the most advanced batteries.

The raw material, lithium carbonate, more than doubled in price towards the end of last year, and the trend has continued upward, pushing to as much as $23,000 a ton in recent weeks. And that’s even before the battery-car market builds any real momentum.

EV News!

California-based Tesla Motors, for example, produced just 50,000 vehicles last year, but it hopes to start nudging towards 500,000 once its new Model 3 gets into production late in 2017. And as tough new global emissions and fuel economy mandates phase in, even mainstream manufacturers will be expanding their use of battery-based powertrains. (more…)

Tesla Issues First Recall for New Model X

Problem comes as battery-carmaker struggles to ramp up production.

by on Apr.12, 2016

The Tesla Model X displaying its falcon doors.

Already struggling to overcome a series of production start-up problems, Tesla is recalling virtually all of its new Model X battery SUVs, the maker confirmed.

The recall is the result of a faulty latch in the third row that could cause the seats to come loose and fall forward in a crash. The news follows Tesla’s acknowledgement that it has run into a series of problems ramping up production of the Model X which was launched last September, about two years later than originally planned.

Subscribe for Free!

The various problems with the Tesla Model X have raised concerns about the Silicon Valley automaker’s even more ambitious plans for its next offering, the Model 3, which is expected to reach production in late 2017. More than 300,000 potential customers have placed initial, $1,000 deposits for the planned battery sedan since its unveiling on March 31.


“Hubris” Hurts Launch of Tesla Model X

Production of battery SUV behind schedule; raises concern about plans for Model 3.

by on Apr.05, 2016

Tesla has run into a variety of problems with the Model X, including its falcon doors.

Technical problems, along with the company’s own “hubris” led to a shortfall in first quarter production at Tesla Motors, primarily of the new Model X battery-electric SUV.

The Silicon Valley automaker says it delivered 14,820 vehicles during the January to March quarter, insisting it is “on track” for its full-year target. But production was heavily lopsided in favor of the older Models S battery-electric sedan, with only 2,400 of the newer Model X utility vehicles rolling out of Tesla’s plant in Fremont, California.

News Now!

“The root causes of the parts shortages wereTesla’s hubris in adding far too much new technology to the Model X in version 1,” the company said in blunt terms, adding it was also impacted by “insufficient supplier capability validation, and Tesla not having broad enough internal capability to manufacture the parts in-house.”


Tesla Takes Yet Another Hit as it Runs Short of Batteries

Stock plunges on latest bad news.

by on Nov.07, 2013

Tesla tanks? And the chart doesn't show Thursday's preliminary decline.

Things to keep going from bad to worse for high-flying battery-car maker Tesla Motors – at least as far as the company’s investors are concerned, though many potential customers are in for a disappointment, as well.

The latest setback, it seems, is the result of the maker’s unexpected success winning over buyers in a market otherwise skeptical about electric propulsion. Tesla is taking so many orders it doesn’t have enough batteries to meet demand – news that once again sent its stock plunging.

Your Automotive News Source!

Tesla stock has been in sharp decline for the past month – after reaching a $194.50 peak in late September it was trading around $140 a share mid-morning Thursday, a drop of around $11, or over 7%, for the day.  On Wednesday, TSLA, as the stock is traded as, fell so fast that, at one point, it triggered NASDAQ’s so-called “circuit-breaker,” which is designed to slow trading by short-sellers that could drag shares down even faster.


Tesla in the Black for Q3 – Sort Of

Maker’s stock continues to slide.

by on Nov.06, 2013

Production of the Tesla Model S has risen sharply -- as have profit margins on the battery sedan.

By Tesla’s account, the battery-car start-up generated a $16 million profit for the third quarter – but by generally accepted accounting practices, or GAAP, the maker would have plunged $38 million into the red for the July to September period.

And that sent already nervous investors skittering for the exit, Tesla stock quickly plunging by nearly $20, or around 11%, in after-hours trading – continuing the decline that was triggered last month both by two battery fires involving the Model S sedan and by negative analyst reports suggesting Tesla shares have been highly over-rated.

Stay Plugged In!

Nonetheless, Tesla shares have remained more than 400% above where they began 2013, even after sliding from a $194.50 peak in September.

In a letter to shareholders, Tesla indicated it expects fourth-quarter earnings to be “about consistent” with the third quarter, a surprise to analysts who had been anticipating an increase as production and sales of the Model S battery-car continue to grow. Musk indicated Tesla is boosting research and development spending by 25% to ensure it can have the maker’s second electric vehicle, the Model X sport-utility vehicle, ready for its late-2014 launch.