Financial
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The Volkswagen diesel scandal no longer gets much U.S. media coverage. Engineer James Liang has been sentenced to 40 months in jail for his role, while executive Oliver Schmidt will be sentenced December 6. Buybacks and modifications are underway for more than half a million TDI diesel vehicles sold by Volkswagen, Audi, and Porsche. Now, other scandals now occupy the headlines. DON'T MISS: VW engineer gets 40 months in jail, $200K fine, for diesel cheating role But a statement issued Monday by VW Group in Germany hints that the U.S. effort will cost considerably more than planned: the group...
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Tesla delivered 76,000 cars in 2016, missing its goal
While the auto industry will start to report December and year-end sales totals today, Tesla Motors issued its year-end delivery and production results yesterday. The Silicon Valley car maker, now completing its ninth year of production, delivered 22,230 electric cars during the fourth quarter of...
John Voelcker -
Has Elon Musk Cut Tesla's 2015 Electric-Car Guidance A Bit, Maybe?
After the New York financial markets close this afternoon, Tesla Motors will release its first-quarter financial results and its quarterly letter to shareholders. The company announced last month, just after the close of the quarter, that it had delivered 10,030 Model S electric cars. DON'T MISS...
John Voelcker -
Tesla Transparency On Orders, Sales, Production Fades: Do Owners, Investors Care?
On February 11, electric-car maker Tesla Motors will release its 2014 earnings and hold a conference call for financial analysts to discuss them. If recent patterns hold, the company won't disclose a number of the important operating metrics that reveal how well it's doing. In fact, over the last...
John Voelcker -
Tesla Model X Delayed Again, Model S Sales Highest Ever: Third Quarter Report
The Tesla Model X electric SUV will be further delayed for additional quality and validation testing, according to the latest earnings report from Tesla Motors. Deliveries of the luxury electric crossover utility vehicle are now scheduled to start in the third quarter of next year. DON'T MISS...
John Voelcker -
Tesla: 8,763 Cars Built, 7,579 Sold, 'Potential' Nevada Gigafactory Ground Broken: Q2 Earnings Report
Tesla Motors built 8,763 Model S electric cars and delivered 7,579 of them to customers during the second quarter, according to just-released second-quarter results. It expects to build about 9,000 cars this quarter, and deliver 7,800, largely due to a two-week production shutdown for retooling at...
John Voelcker -
Sometimes we read things that just make us scratch our heads. Often, statements about the electric-car industry by (presumably) highly-paid analysts in the finance industry are among those things. Take, for example, a statement by one such analyst, contained an article published two weeks ago in Forbes by British journalist Neil Winton. DON'T MISS: 2014 BMW i3 REx: Range-Extended Electric Car Drive Report, By Very First Owner The essential thesis of the piece, based on interviews with several analysts, is that BMW's program of "i" vehicles that run partly or fully on battery power--led off by...
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Tesla Earns 'Modest' Q2 Profit, Delivers 5,150 Cars, Boosts Margin On Carmaking
Tesla Motors [NSDQ:TSLA] slightly increased its profit in the second quarter, and delivered more Model S electric cars than last quarter. The company released its Q2 financial results this afternoon, with net income of $26 million compared to $15 million for Q1. The company said it delivered 5,150...
John Voelcker -
Tesla Model S Electric-Car Production Above 400 A Week, Musk Says
All is still well at Tesla Motors [NSDQ:TSLA], it seems, with CEO Elon Musk announcing the company is beating its self-imposed production targets. As Bloomberg reports, Tesla is ahead of its 400-per-week production goal, by a margin Musk describes as "not trivial". Meeting such a target is all the...
Antony Ingram -
Tesla Didn't Make A Profit On Its Cars In Q1: Let's Be Clear
Tesla Motors has accomplished many remarkable things in its short life as a startup maker of electric cars. But, to clear up a common misperception, its supporters should understand that it has not--yet--made a profit in its core business: designing, building, and selling the Model S all-electric...
John Voelcker -
UPDATED: Tesla Motors Q1 Earnings: What To Look For (Video)
Within the next hour, Tesla Motors [NSDQ:TSLA] will release its first-quarter financial results. We already know the company will be profitable, and that it sold "more than 4,750" Model S electric luxury sport sedans from January through March. CEO Elon Musk has also said that Tesla is targeting a...
John Voelcker -
Tesla Makes Money On Model S: $35K Per Car Selling ZEV Credits?
Tomorrow at 5 pm Eastern, Tesla will hold what may be its most eagerly awaited conference call to date. The Silicon Valley startup automaker will discuss its first-quarter financial results--which will give the first clue to its financial viability as an operating automaker. But Tesla Motors...
John Voelcker -
It's never dull over at Tesla Motors, but tomorrow is a particularly important day. It may, in fact, be the most important day in the electric-car maker's history. That's because after the stock market closes, Tesla Motors [NSDQ:TSLA] will give the first hints about whether it could genuinely become a profitable independent carmaker. At 5:30 pm Eastern time, the company will hold its quarterly earnings call to discuss its Q4 financial results from October through December, as well as its full 2012 results. Tesla is widely expected to have lost money for the full year 2012. It was a year of...
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Tesla Buoyant After 2012 Model S Launch, Despite Losses
After nothing to sell for nearly six months, an age of anticipation, media hype and short, chaperoned rides, Tesla began official deliveries of its all-electric 2012 Model S sedan just over a month ago. So its hardly surprising that the fledgling car company has just posted net losses of $105.6...
Nikki Gordon-Bloomfield -
Think Sunk: Now Its Primary Creditor, Battery Supplier Could Too
It’s hard enough when two companies part company on good terms, but when one side of the business relationship leaves the other with a total of $105 million in unpaid bills things are going to get a little tough. That’s exactly what has happened to publicly-traded New York-based battery...
Nikki Gordon-Bloomfield