March 7, 2014 |
Like young bucks at a county fair kissing booth, states are lining up for a chance to court Tesla Motors and its planned $5-billion battery factory. But fair warning, fellas: The intoxicating fragrance of Musk and his money masks a cold business heart. Already a loser in the race for this California girl's affections, though, is, well, California. Oh, sure, we're good enough to design and build the company's eco-luxe Model S. And Californians bought more than one-third of the $70,000-and-up cars last year.
March 7, 2014 |
California loves Tesla Motors. The Palo Alto electric car maker's Model S sedan is the state's new eco-luxury status symbol. Californians bought more than a third of Teslas sold globally last year. Residents of the state pack the order list for Tesla's next offering, a sport utility vehicle. California pollution-control policies enable Tesla to rake in tens of millions of dollars each year from selling environmental credits to other automakers - a key source of Tesla's revenue.
February 25, 2014 |
While Telsa's cars run on electricity, its stock price seems to defy gravity. Shares of Tesla rose 17%, or $37.65, to a record $255.30 in midday trading after a Morgan Stanley analyst said the stock could hit $320. Tesla, which sold fewer than 23,000 cars last year, now has a stock market valuation of $30 billion. That is more than half the $57.4 billion of General Motors, which sold 10.7 million vehicles last year. “Tesla's quest to disrupt a trillion-dollar car industry offers an adjacent opportunity to disrupt a trillion-dollar electric utility industry,” Morgan Stanley autos analyst Adam Jonas wrote in an investor report Tuesday.
February 19, 2014 |
Tesla Motors Inc. narrowed its losses in both the fourth quarter and the year as the electric car maker ramped up sales both in the U.S. and internationally and collected about $150 million from the sale of environmental credits. Shares of Tesla soared to a record when it released the financial report after the stock market closed, rising $24.10, or 12.5% to $217.74 in after-hours trading Wednesday. Tesla said that it lost $16.3 million in the fourth quarter. That compared with a loss of $89.9 million a year earlier.
February 13, 2014 |
Shares of Tesla Motors crossed the $200 barrier Thursday before falling back, but still closed at a record level for the upstart automaker. The electric car company's closing price of $199.63, a gain of $4.31, or 2.2%, from the previous day, gives it a market value of $24.5 billion. Put another way, it is worth about $1.1 million for each of the 22,450 Model S cars it sold last year. The cars sell for $70,000 to $100,000, depending on options. The market value of General Motors Co. is about $56 billion, or about $5,200 for each of the 10.7 million cars it sold globally last year. “Tesla is not something that should be compared to a conventional car company,” said Craig Irwin, an analyst with Wedbush Securities.
December 20, 2013 |
Get ready, supercar fans, Lamborghini is going to rock you like a hurricane. Actually, it's Huracan. That's the name the Volkswagen-owned Italian brand known for icons like the Countache and Diablo have given to its latest mid-engine supercar. PHOTOS: Lamborghini's all-new Huracan The Huracan LP 610-4 replaces the outgoing Gallardo, a car that was introduced in 2003 and has unquestionably been integral to Lamborghini's growth and transition into the 21st century.