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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.

Elon Musk likens NJ vote to mafia tactics

When the New Jersey Motor Vehicle Commission decided on Tuesday to block Tesla Motors from selling cars from its stores in the Garden State, it may have inadvertently kicked a hornet's nest. Perhaps they thought no one was looking. Maybe they imagined no one would really care. If so, they were wrong. People do care, and there's some stinging criticism going on. One individual in particular cares an awful lot. As co-founder and CEO of Tesla, Elon Musk takes extreme umbrage when his baby is subject to what he feels is unfair treatment. Whether it be from the media or from politically-manipulative foes like automobile dealer's associations. Never one to hold back, the entrepreneur has penned a piece directly to the people of New Jersey, making his case for manufacturer-to-consumer sales. It also explains how the company will operate there as of April 1st when the new rules take effect. He also pointedly questions the dealers association's reasoning for asking for the change. And we quote, The rationale given for the regulation change that requires auto companies to sell through dealers is that it ensures "consumer protection". If you believe this, Gov. Christie has a bridge closure he wants to sell you! Unless they are referring to the mafia version of "protection", this is obviously untrue. The uproar is not limited to Tesla insiders, or even the automaker's many fans. Apparently, people still care whether or not their government reeks of corruption, and in this case the smell wafting from New Jersey has attracted a lot of people's attention. A White House petition asking the Obama administration to "Inform New Jersey that markets should be free for Tesla Motors and for everyone" has attracted the attention of over 97,000 signatures 2,615 signatures in a few short days. The petition, though not legally binding, and the outrage in comments following articles on the issue ought to be a warning bell to politicians who trumpet the importance of the free market (or environmental concerns, as the case may be), and then act seemingly contrary to those convictions. For now, Tesla is said to be mulling a legal remedy, but we would not be surprised to see a Political Action Committee (PAC) arise in the future that could take the company's concerns directly to voters. You can read Musk's letter, "To the People of New Jersey" here. If you're so inclined, you can add your name to the petition here. As always, feel free to let us know your take in the Comments.

Audi, Jag, Kia and Tesla top Strategic Vision 2014 Total Quality Index

A couple weeks ago, J.D. Power released its latest Initial Quality Study, which gave high marks to Porsche, Hyundai and General Motors, with the latter earning more individual IQS awards than any other manufacturer. Now, it's Strategic Vision's turn, and it's doling out its praise not to Porsche, but to Tesla, which wasn't even included in the JD Power IQS.
The Model S was named the best vehicle overall in total quality, while Porsche's corporate brother and endurance-racing rival, Audi, was named the best premium brand, alongside Jaguar. Strategic Vision cited the Q5 and the ancient Q7 for individual segment awards, as well as the A5, which was a mere point off the top of its segment. SV also handed out compliments for the Audi's interior work. The win for the German brand is a nice improvement over its IQS score, with which it landed above the industry average, but solidly mid-pack.
Jaguar was without a segment winner, although SV did say that the Indian-owned English brand had a number of vehicles very near the top of their segments. This is the second significant win for Jag in two weeks, after it finished second overall on the JD Power IQS a few weeks ago.