ElectricMotorcycleForum.com
General Category => EV Stocks => Topic started by: Richard230 on October 30, 2011, 04:10:03 AM
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My newspaper reports that Tesla has sold out their entire 2012 production of 6,500 Model S vehicles, according to CEO Elon Musk. He says that they are mostly new buyers, although 600 current owners of the Roadster have also ordered the Model S. Musk believes that Tesla will finally make a profit by 2013. Tesla's stock rose 3.9% to $29.87 at the close of the NYSE on Friday.
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My newspaper reports today that Tesla will be delivering their Model S sedan in June, a month earlier than originally planned. Unfortunately, they still are not making money. During the first quarter of this year they lost $89.9 million, compared with a loss of $48.9 million during the same quarter a year ago. Tesla's stock rose 5.7% on this news in after-hours trading, after closing at $30.06 a share yesterday.
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Tesla is in the news again. In an article written by Jerry Hirsch of the LA Times (and printed in my local paper), it is reported that the first Model S sedans will be delivered to customers starting June 22. Tesla says that it has more than 10,000 orders for the car but not all will be delivered this year as they don't have the capacity to meet that initial demand.
One interesting comment in the article is that Tesla says that the Model S will let drivers adjust the steering feel between comfort, standard and sport modes and will be able to set a preference for suspension and ride height. Drivers will also be able to adjust the regen braking feel, but they warned that a lighter touch will feed less energy back into the battery pack and reduce the car's range.
Zero to 60 mph time is said to be less than 6 seconds. The price of the Model S ranges from $49,900 to $97,900, depending upon the size of the battery pack and various options ordered. Naturally, the car is eligible for the $7,500 Federal Tax credit. Early sales of the car will be for the most expensive models (I think there is an electric motorcycle company that is doing the same thing ;) ).
Morgan Stanley forecasts that Tesla will sell close to 3,000 cars this year, 16,000 next year and 19,000 the following year. This would make Tesla the first U.S. auto startup company in many decades to launch volume production of a new car.
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The Tesla Model S may be sold out, but according to an article in today's newspaper, written by Dana Hull of mercurynews.com, they have only delivered 10 Model S cars since the big roll-out on June 22. It seems like they are having problems with their suppliers delivering parts on time and the quality of some of the out-sourced components are not meeting their specifications. Tesla says that they are on track to deliver 5,000 units this year but some analysts are not so sure. Tesla says that they have made a total of 40 Model S sedans to date, but they are having minor production glitches right now, however they will ramp up production to 20,000 units during 2013.
Theo O'Neill, an analyst with Wunderlich Securities, published a scathing research note earlier this week in which he said "They are going to have to raise more cash, and the fact that they haven't gotten the interior (of the car) right is a problem". Tesla says that about 12,200 customers have put down reservations for the Model S as of mid-July.
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Apparently Tesla is running low on cash and plans to sell another 5,000,000 shares of stock later this year to help fund the production of the Model S, the Model X and the new charging stations, along with whatever R&D they are working on now. I heard this news on a radio financial report today. All they need is government approval, as their loan guarantee restricts the number of stock shares that they can sell without the government first approving the sale.
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My newspaper today had two long articles about the Tesla. One on the front page and one in the business section. The front page article was about the "Superchargers" and contained quotes from Tesla spokeswoman Shanna Hendriks. She says that they plan to install their charging stations about 100 miles apart and she continues: "One of the things we want to make sure with every location is that there is something for Model S drivers, or Model S owners, to do while they're charging" The article then goes one to say: " Which is no doubt why the Gilroy station will be a few thousand steps from an In-and-Out burger. Nothing like scarfing down a double-double and an order of animal fries while your S slurps down a few kilowatts. It's how a charging station becomes a tourist destination." This comment refers to the Gilroy station which is located in a major "outlet" shopping center just off Highway 101.
Meanwhile, the article in the business section says that Tesla will deliver fewer Model S cars this year than they had planned. Tesla had previously vowed to make 5,000 cars by the end of the year, but in its latest filing with the SEC, says that it is "four to five weeks behind our previously announced delivery goals". This is due to delivery delays by suppliers and the need to continue to train employees. As of September 23, Tesla had manufactured 255 cars and delivered 132 to customers. It now expects to deliver 200 to 225 cars in the third quarter and 2,500 to 3,000 cars in the fourth quarter of the year.
Tesla is asking the DOE to approve the sale of an additional 4.3 million shares of stock as it needs at least $128 million to "shore up its balance sheet".
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I had a chance (actually two weekends) to drive the Roadster, and quite frankly, the first thing that came to my mind when I pushed the accelarator were 3 words "I wanted one"
I enjoyed so much...0-60mph is amazing, and range is not bad.
I'm really excited about the model S, but my concern -especially after reading some comments like yours- is that there is still a lot of "vaporware"
When I see the current producted units and what they plan to deliver this year, it looks like a dream...
We'll see, hopefully I'm wrong ;D
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An article in my newspaper today, written by Dana Hull of mercurynews.com, says that Tesla posted a third-quarter loss of $110.8 million, or $1.05 a share, compared with a loss of $105.6 million or $1 a share during the second quarter. However, the company says that it remains on tract to deliver 3,000 Model S cars in the fourth quarter. Investors cheered the news of the higher production claim and boosted the shares of the company by 8.6% to $31.50 a share. A sidebar says that Tesla has built 350 cars during the third quarter and delivered 250 cars to customers. They expect to deliver 2,500 to 3,000 cars by the end of the year and they expect to deliver more than 20,000 cars in 2013. Current production of Model S sedans is claimed to have increased to 400 cars per week, up from 200 cars per week in October. CEO Elon Musk says that the company has turned the corner and is on track to make a profit next year. He says that the company has 13,200 customers who have reserved a Model S, up from 11,500 at the end of the second quarter. About 20% of the reservations are coming from Europe. From 10 to 15% of reservations holders cancel before their sale is locked in. However one analyst is not so sure that they will become profitable next year and believes that R&D costs will continue to eat into their bottom line. He (Carter Discoll of Capstone Investments) says that the stock is overvalued and that the company is glossing over their deficiencies.
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Speaking of the Tesla Model S, it has been widely reported in the national news today that Motor Trend magazine has named the Model S to be its 2013 "Car of the Year". :) The Model S beat out cars such as BMW's new 3-series sedan, Ford Motor's Fusion sedan, Honda Motor's revamped Accord and Toyota Motor's 2013 Lexus GS. This is the first time in their history that the magazine has ever given the award to an electric vehicle.
MT's editor-in-chief, Edward Loh, is quoted as saying: "It is a testament not only to the luxury sedan and electric car segment, but to American engineering overall, to be the first car in the 64-year history of the award to be powered by something other than gasoline must mean it is very special."
Tesla's stock rose $1.18, or 3.8% to $31.25 in extended trading Monday. The company's stock shares have increased 8.8% this year.
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You have probably heard that yesterday Tesla reported that they sold 4,750 Model S sedans since the first of the year and made their first profit ever. Their stock closed yesterday at $43.93 per share, up 15.9% since the previous day. Today's Tesla news was that they will not produce the bottom-of-the-line 40 kWh, 160-mile range model, but instead will deliver the same car for the same price with the battery from the 230-mile model. However, the car's software will prevent using more than 40 kWh from the battery. For a $10,000 additional charge Tesla will fix the software for you to get the rest of the performance from the battery pack. Or, you could hack the software yourself. ;)
In an article in my newspaper today, Jack. Nerad, of Kelly Blue Book, was quoted as saying that he wants to see Tesla's sales number rise much higher. He is quoted as saying: "Nobody has really quite cracked the nut of a high-volume pure electric vehicle. That's what the Model S was supposed to do, or at least come close. Instead, it's evolved into a much higher-priced, lower volume, sedan status." Mr. Nerad goes on to speculate that Tesla's best hopes lie with the possibility that it will some day be absorbed by a competitor while retaining its distinct niche and brand, similar to the Fiat Group's acquisition of Ferrari. He believes that Tesla has "quality management and visionary engineering and they do a lot of things right. But it's hard to imagine how they can ever compete against the giants."
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It's interesting that Tesla followed up that news with this even more interesting news: Tesla Reveals Revolutionary New Finance Product (http://www.teslamotors.com/about/press/releases/tesla-unveils-revolutionary-new-finance-product). If this were available for electric two-wheelers, they would be much more approachable, since resale value wouldn't be as subject to existing expectations/perceptions.
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Recent news about Tesla stock, its close to $53 USD
http://green.autoblog.com/2013/04/23/tesla-stock-reaches-record-high-brushes-53/ (http://green.autoblog.com/2013/04/23/tesla-stock-reaches-record-high-brushes-53/)
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Tesla's stock price hit $92 a share this morning in "after-market" trading. Up about 70% during the past week.
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Tesla stock just hit $210 a share today. Quite a jump in only 10 months. The established auto companies must be grinding their teeth about Tesla's sales and financial success. :)
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I was about to buy stock when it was 26 a share but forgot to call the broker. Sick as a dog!