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Posts Tagged ‘tesla sales’

Tesla Narrows Second-Quarter Loss as Revenues Nearly Double

Investors rally after a week-long stock slide.

by on Aug.02, 2017

Early versions of the Model 3 are shown waiting for delivery to the first buyers last week.

After taking a sharp tumble, Tesla stock rallied on Wednesday, investors responding positively to a nearly doubling of revenues during the second quarter, with the battery-carmaker’s loss for the April-June period narrowing more than analysts had expected.

Tesla clearly needed a boost after suffering a nearly $70 a share dip from the record $383.45 closing it had hit on June 23rd. And the second-quarter earnings appeared to be just the tonic needed as the company moves into the critical rollout of its Model 3 sedan.

By the Numbers!

For the quarter, Tesla reported an adjusted loss of $1.33 a share, well below the $1.82 deficit analysts had anticipated, according to consensus numbers gathered by Thomson Reuters. Meanwhile, revenue jumped to $2.79 billion, while analysts had expected a figure of $2.51 billion. (more…)

Tesla Adding 100 Service Centers as Model 3 Launches

Move considered critical as automaker goes from niche to mainstream.

by on Jul.12, 2017

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

Tesla plans to add at least 100 new service centers, as well as 1,400 service technicians and a fleet of service vans to keep pace with the planned, rapid ramp-up of production of its first high-volume product, the Model 3.

With sales expected to grow to as much as 500,000 vehicles next year – a six-fold increase over the 84,000 sold in 2016 – Tesla’s current service and repair network would be overwhelmed, many analysts have warned, even if the new Model 3 were to come to market with industry benchmark quality and reliability. Tesla current only has about 150 service centers in operation to cover the entire U.S. market.

We'll Service Your News Needs!

Despite a price tag that runs less than half that of a current Model S, buyers of the new Model 3 “will have high expectations” for their new vehicles, said David Sullivan, a senior analyst with AutoPacific, Inc.

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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.

We're on the Beatt!

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.

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.”

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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.

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.

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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.

Product News!

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.

Stay Plugged In!

“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.

Keeping Things Honest!

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.

Your Auto Insider!

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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