December 15, 2013 |
Tesla Motors plans to unveil an electric car in early 2015 that could sell in the $40,000 range, a mainstream offering that could be key to the automaker's future growth. Tesla's only current offering is the Model S, a premium sport sedan that starts at $71,070 before any state or federal tax incentives, and can cost far more with options. In late 2014, the Palo Alto automaker plans to release a long-awaited Model X sport-utility, likely to sell in the same price range. The third, lower-priced model could make its official debut at the 2015 North American International Auto Show in Detroit, Tesla confirmed Friday.
November 21, 2013 |
Consumer Reports said Thursday that the Tesla Motors Model S electric car has generated the highest consumer loyalty of any car it has surveyed in years. Owners of the luxury sports sedan, which sells for $70,000 to $100,000 depending on equipment and options, gave the Model S a score of 99 out of 100. The magazine said that it collected more than 600 survey responses from owners of 2012 and 2013 models. The score also matches “the near-perfect 99 overall test score the Model S earned in Consumer Reports' performance ratings,” the magazine said.
November 18, 2013 |
No one can deny that Elon Musk of Tesla Motors is a great promoter , and possibly a great motivator of engineering manpower. As a seller of electric cars at a profit ... well, let's just say the jury is still out. But it can't be good for Musk or his company that investors are beginning to wonder about that last question. The evidence for this is the stock market's reaction to Tesla's latest quarterly earnings report, issued earlier this month. Like previous quarterly statements, the third quarter report was shot through with fancy accounting gimmicks, including the booking of 100% of lease income as revenue up-front.
November 6, 2013 |
Tesla Motors shares plunged in early trading Wednesday after the electric car maker said a battery shortage was limiting sales and that it is spending heavily on research and development to bring new models to market. Shares of the automaker dropped 16%, or $28.67, to $148.14. Tesla shares have been on a run for most of the year, rising about 400% before this reversal. Some analysts have cut their price targets for the company and have told investors to sell the shares. “We do not see a major potential near-term upside catalyst for the shares,” said Efraim Levy, an analyst at S&P Capital IQ, who has issued a sell recommendation.
November 4, 2013 |
Elon Musk, who heads electric-car company Tesla Motors, has shelled out $6.75 million on the former Gene Wilder estate in Bel-Air, property records show. That's a lot of clams for a cracked driveway. [Updated 10:59 a.m. PST Nov. 5: The sellers are financier Paul Kessler and his wife, attorney and businesswoman Diana Derycz-Kessler, who invest in real estate. ] The three-quarter-acre promontory home, overlooking the 13th green and 14th fairway of the Bel-Air Country Club, was described in the listing as an “opportunity to develop a view property.” The existing ranch-style home of 2,800 square feet has three bedrooms and 4.5 bedrooms.
October 24, 2013 |
Tesla Motors of Palo Alto announced Thursday that it has hired Apple vice president Doug Field to oversee its new vehicle programs. While at Apple, according to Tesla's news release, Field "led the development of many new products at Apple including the latest MacBook Air, MacBook Pro, and iMac. " Live unboxing: Microsoft Surface 2 tablet [Video chat] This is not his first stop in the auto industry. Previously, Field worked as an engineer at Ford Motor Co. While Tesla didn't provide many details, the company said Field would be "responsible for driving development of new vehicles" and called him "an accomplished leader and engineer of innovative, high-technology products.