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Posts Tagged ‘tesla sales’

Tesla Reports Bigger 1Q Loss Than Expected

But production hits record; revenues beat forecast.

by on May.03, 2017

Investors continue to drive up Tesla shares, betting on the success of the upcoming Model 3.

Despite record production and deliveries – and a surging stock price – Tesla managed to disappoint on Wednesday by reporting a bigger loss than analysts had been forecasting – though revenues for the first quarter of 2017 did manage to beat expectations.

The Silicon Valley battery-carmaker reported a loss of $1.33 a share, significantly worse than the 81 to 83-cent loss various tracking firms had Wall Street trackers predicting. The company has turned a quarterly profit – using non-standard accounting – only twice since it went public.

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The news wasn’t entirely disappointing. Tesla’s revenues for the January-through-March quarter came in at $2.70 billion, about $90 million above expectations. Production, the company said, was up by 64%, year-over-year. And Tesla previously had reported that it delivered 25,051 vehicles during the quarter, an all-time record, with a target of 50,000 battery-cars for the first half.

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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.

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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.”

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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.

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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.

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Tesla Hunting for Buyers at Nordstrom

EV maker opens mini-store in retailers Los Angeles location.

by on Jun.15, 2016

Tesla is opening a 400-square-foot "store" inside Nordstrom's location in The Grove in Los Angeles. Photo credit: Nordstrom.

Tesla continues to look for ways to gain new customers, and with its newest effort, new places to get them: Nordstrom.

The California-based EV maker is opening a 400-square foot “store” inside Nordstrom’s location at The Grove in Los Angeles. “Store” is a loose description because at this point, the automaker isn’t licensed to sell vehicles from the spot.

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However, starting June 18, shoppers at the high-end retailer can get a look at a Model X as well as arrange for a test drive on the streets surrounding the mall. Potential buyers can even spec out a vehicle, although the actual transaction must take place at one of Tesla’s dealerships. (more…)

Tesla Model 3 Buyers Won’t Get Free Lifetime Use of Superchargers

CEO Musk confesses to a series of “clueless” moves during shareholders meeting.

by on Jun.01, 2016

Tesla eventually plans to have "several 100" Supercharger stations across the U.S. and Canada.

When the new Tesla Model 3 goes on sale later next year, buyers will spend barely half as much for the 200-mile battery-car as the company currently charges for its original Model S sedan – but they could be in for some hefty, additional fees, especially if they also want to use Tesla’s Supercharger system.

That’s a network of high-speed chargers that let a motorist get up to an 80% “re-fill” in 30 minutes or less, depending upon the capacity of the battery. Use of the Supercharger system is free for life for owners of the Model S and newer Model X.

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“Free supercharging fundamentally has a cost. The obvious thing to do is decouple that from the cost of the Model 3,” Musk said during Tesla’s annual shareholders meeting. “It will not be free long distance for life unless you purchase that package.”

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Has Tesla Been Bending the Numbers for Model 3?

Carmaker claims it has purged speculators from the order banks.

by on May.03, 2016

Only two per household. Tesla insists it has purged multiple reservations for the Model 3.

Tesla’s Model 3 is still about 18 months from production, but the Silicon Valley automaker has already lined up an enviable order book, the ever-ebullient CEO Elon Musk declaring it, “the biggest one-week launch of any product ever.”

But there have been some questions raised about Tesla’s claims. For one thing, potential buyers have been plunking down $1,000 refundable reservations, not orders. They’ve still got plenty of time to decide if they actually will purchase one of the compact battery-electric vehicles once they finally begin rolling off Tesla’s Fremont, California assembly line.

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And are consumers really the ones making these reservations? Or are speculators and others who really have no intention of ever taking delivery of a Model 3 inflating the list?

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Tesla Costs Likely to Rise as Incentives End

Few, if any Model 3 buyers will qualify for $7,500 tax credit.

by on Apr.06, 2016

Tesla buyers may no longer qualify for federal tax credits by the time the Model 3 reaches showrooms.

When the Tesla Model 3 finally goes into production, in late 2017 or early 2018, buyers might be in for an unpleasantly costly surprise – one that fall particularly hard on customers who were hoping to get that new battery sedan at a relatively affordable price.

American motorists buying the carmaker’s two current products, the Models S and X, stand to receive federal tax credits of $7,500. Industry analysts say that incentive has helped draw many buyers into the battery-car market. But under federal guidelines, those givebacks might be gone before the first Tesla Model 3 hits the road.

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When Congress passed the measure aimed at spurring demand for battery-based vehicles – including both plug-in hybrids and pure battery-electric vehicles, or PHEVs and BEVs – lawmakers set a cap on those incentives, limiting them to just the first 200,000 vehicles sold by a particular automaker.

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“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.

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“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.”

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Tesla Model 3: Hit or Hype?

Advance reservations pass 250,000 -- but will they actually translate into sales?

by on Apr.04, 2016

Tesla says the base Model 3 will get 215 miles per charge - and start at $35,000.

Even before the new Model 3 sedan was unveiled late last Thursday, Tesla Motors said it had logged more than 100,000 advanced orders. And as of the following Monday morning, the Silicon Valley carmaker claimed the figure had topped 250,000 – a number that would translate into more than $10 billion in retail sales.

The surge of interest is unprecedented in the auto industry, resembling more the sort of frenzy that has greeted the launch of a new Apple iPhone. But at this early stage, at least 18 months before the first car is scheduled to roll off the assembly line, can the new Tesla Model S be considered a hit, or a case of battery-powered hype?

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That’s a question which few industry observers seem to agree upon. Investors have clearly been impressed, driving Tesla’s stock price up by over $15 a share since the hours before the electric sedan’s unveiling. That run-up comes despite the warnings issued by some key analysts.

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First Look: Tesla Model 3 Battery Sedan

Over 100,000 buyers already plugged in with advance orders.

by on Apr.01, 2016

Tesla founder and CEO Elon Musk stands on stage with three of the maker's new Model 3 sedans.

With a standing-room-only crowd cheering him on, Tesla Motors founder and CEO Elon Musk pulled the wraps off the long-awaited Model 3 sedan Thursday night, a vehicle intended to take the battery-carmaker into the automotive mainstream.

A downsized version of the luxurious Model S, the Tesla Model 3 will go for about half the price, starting at $35,000, Musk said, for a vehicle that will deliver at least 215 miles range per charge, launch from 0 to 60 in under six seconds, comfortably fit five adults and surround them with a full range of safety features, as well as the semi-autonomous AutoPilot system.

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More than 115,000 advance orders have already been placed, said Musk, noting plans call for the first of the sedans to be delivered “next year.” But in a nod to the fact that the recently launched Tesla Model X fell two years behind schedule, the South African-born executive added, “I feel fairly confident they will begin next year.”

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