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Bond manager has odd advice for Tesla: stop making cars

Tesla Motors said in the release of its first-quarter earnings Wednesday that it will boost its quarterly production on its Model S luxury sedan to as many as 9,000 from the approximately 7,500 it made during the first three months of the year. Bond manager Jeffrey Gundlach doesn't believe that's a good thing. Gundlach, founder of DoubleLine Capital LP, told Bloomberg News that, while Tesla is a better investment than fast-growth companies like Twitter, the automaker would improve its financial results by halting production of its vehicles and dedicating itself to making battery packs for other automakers. A spokesman for Tesla, whose shares are up almost 40 percent this year, declined to comment to Bloomberg. We'll just sit here and imagine Tesla-powered Nissan Leafs and Chevy Volts. Back in the real world, aside from its own vehicles, Tesla makes battery packs for the Toyota RAV4 EV and for some versions of the Smart Fortwo ED and the B-Class EV. Tesla and Toyota first announced their collaborative effort in 2010, which included Toyota's equity investment in Tesla as Tesla prepared to take over the old NUMMI plant in the San Francisco Bay Area. Tesla said Wednesday that it took a $49.8-million first-quarter loss. Compare that to a year-earlier net income of $11.2 million. That's despite boosting revenue 10 percent from a year earlier to $620.5 million. That's largely because Tesla's selling, general and administrative costs more than doubled from a year earlier to $117.6 million.

Tesla Supercharger wins AOL Autos Tech of the Year award

The votes are in, the ballots have been counted and the envelope is open. Together with our partners at AOL Autos, we're proud to announce the winner of our second annual Technology of the Year award. After having awarded the inaugural prize last year to Chrysler for its UConnect infotainment system, this year we've selected the Tesla Supercharger network as the top technological advancement in the automotive industry.
While enthusiasts will likely associate the name "supercharger" with forced induction, Tesla has successfully redefined the term to apply to its increasingly sprawling network of charging stations across the country. Drive your Model S up to one of the 54 such stations in the United States, and you can be on your way with a full charge in just 20 minutes, instead of the full eight hours it usually takes. With much of the industry and government still wringing its hands over a lack of infrastructure for alternative fuels, Tesla has taken the reins and is working to fix the problem itself.
The winner was selected from a compelling list of candidates by a jury including editors from AOL Autos, Autoblog, AutoblogGreen, Translogic and even Engadget. The Tesla Supercharger beat out such contenders as Chevy's MyLink Valet Mode, Infiniti Backup Collision Intervention, Volvo Pedestrian and Cyclist Detection, Mopar In-Vehicle Wireless Charging and Mercedes-Benz Intelligent Drive to claim the hardware, which was presented at this week's CES show in Las Vegas.

Tesla: Earnings still down, but rate of Model S production way up

According to its Third Quarter 2012 Shareholder Letter, Tesla "is now at over 200 cars per week or 10,000 cars per year, which is at the critical threshold needed for Tesla to generate positive operating cash flow."
That's an important milestone to be sure, but the news is actually even better; Tesla expects to ramp Model S production up to 400 cars per week (20,000 units/year) by December of 2012, and says it will deliver 2,500 to 3,000 units in the fourth quarter of 2012. That's lower than the previous target of 5,000 in 2012, but it's more an issue of delayed achievement rather than missing the mark altogether.
All of that production bodes well for the future, but as of today, the automaker has yet to earn real money. Revenue for the third quarter of 2012 was $50 million, equating to a net loss of about $110 million after expenses were tallied. The stock market likes the numbers, with TSLA shares rising 8.9 percent on Monday after the report was released.