2023 Tesla Model S on 2040-cars

Auto blog

Tesla sold 6,892 Model S EVs in Q4, stock jumps in afterhours trading

Quarterly shareholder letters, with accompanying financial results, are an opportunity for companies to crow about their recent progress and instill excitement about future expectations. Tesla Motor's latest such release reveals it's coop is rife with roosters in full song. And for good reason. The California automaker announced today it earned $46 million in 4th quarter of 2013 on a non-GAAP basis – under generally accepted accounting principles (GAAP), which calculates leasing and stock-based employee remuneration differently, it actually lost $16 million – selling 6,892 very lovely Model S electric sedans in the process. Further, it passed its predicted 25 percent gross profit margin on its cars, hitting 25.8 percent on a non-GAAP basis. This means, for the fiscal year of 2013 it sold 22,477 vehicles in total and had over 2.5 billion in (non-GAAP) sales, which includes, of course, supply and development deals with Toyota and Daimler. TSLA has jumped to a record high in the $217 neighborhood. That's pretty durned good, and the stock market would seem to agree. With the financials results dropping just after the NASDAQ's close, the price for TSLA has jump around 12 percent – over $23 as of this writing – to a record high in the $217 neighborhood. Those share price increases aren't just based on past performance, though. The info drop also included plenty of things to indicate the future bodes well. The company expects both sales and production to continue to rise throughout 2014, with a new assembly line expected to help churn out 1,000 cars per week in the 3rd quarter and profit margins projected to hit 28 percent by the end of the year. On the demand side, Tesla's CEO Elon Musk stated during the conference call that he doesn't expect the company to be able to meet the demand that's coming from China. Its new Beijing store is now the company's biggest and busiest and deliveries don't even begin until spring. While European sales are a little slower than anticipated, the exec said he believes it will improve as soon as the company irons out a few technical difficulties that have arisen with charging amongst the different territories there. Apparently, not all power grids operate in exactly the same way. Speaking of reservations for the upcoming Model X SUV, Elon said demand is high. Quote: "If you are going fishing, fish are actually jumping in the boat." That vehicle is only expected to start reaching customers next spring.

Is Tesla under investigation from the SEC? *UPDATE

UPDATE: Tesla spokesperson LIz Jarvis-Shean told AutoblogGreen that "We don't comment on rumor and speculation." Let's call this one unsubstantiated at best. Probes Reporter is a site that tries to figure out what's going on behind the scenes by filing a number of Freedom of Information Act (FOIA) with the Security Exchange Commission (SEC). Based on the responses it gets, it guesses whether or not the SEC is investigating companies. Earlier today, Probes Reporter issued a Tweet that says: "Tesla Motors May Have an Undisclosed SEC Probe - Added to Watch List." Probe Reporter says that it got a letter from the SEC in early October that cited the "law enforcement exemption" of the FOIA in order to deny PR access to the records it was asking for. PR says that this acknowledges "some sort of investigative activity." Probe Reporter also says that about two-thirds of these sorts of exemptions "are confirmed on appeal," so the company's history with this strategy indicates there is a real chance the electric automaker is indeed facing some sort of investigation. Again, we don't know anything for certain. For now, Tesla hasn't made any official statement on the matter (we've asked, and will update this if we hear anything) and the stock market doesn't seem to care. TSLA was up 1.62 percent today, to $246.72, in part because analysts say this is just a rumor at the moment, according to ValueWalk.

Drive eO Tesla Roadster is going to race up Pikes Peak [w/video]

Last year, Drive eO sent its PP01 electric supercar up Pikes Peak in the Pikes Peak International Hill Climb - well, part-way up. Driver Janis Horeliks wasn't injured in the crash that ended his run near the Halfway Picnic Grounds. This year, the Latvian team will return to Colorado race again with a Tesla Roadster chassis in the Electric Modified division on Sunday, June 29. The PP02 is not quite as rowdy as the PP01, with a twin motor system putting about 482 horsepower and 590 pound-feet of torque to the rear wheels compared to last year's car all-wheel-drive setup making about 536 hp. The PP02's liquid-cooled electric motor will get its electrons from a 40-kWh battery pack. The total weight of the car is about 2,337 pounds. Drive eO's return to Pikes Peak isn't just about getting back in the saddle and winning a single race. The group is using the experience to test new components that it intends to eventually put into later electric supercars. These, according to the press release, are "already on the drawing board." As interesting as it will be to see the PP02 Tesla Roadster 360 attempt to tackle the famous hill again, it should be equally interesting to see what Drive eO is up to next. See what happened in last year's race in the video below (it's not in English), or read on for the official press release from Drive eO. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Drive eO Returns to Pikes Peak with Bespoke Tesla Roadster Riga, Latvia - Electric motorsport specialists Drive eO are returning to the Pikes Peak International Hill Climb on June 29 to test and develop their latest electric drive train system. The team has packaged it into a Tesla Roadster chassis, making the competitive debut in motorsport for Tesla. Drive eO has dubbed the project PP02 as it builds upon the team's initial attempt at the iconic hill climb competition in 2013 with a prototype supercar eO PP01. The new car features a more modest specification with rear axle powered by 360 kW (peak) twin-motor system and a 40 kWh lithium-ion battery pack. The team is aiming to validate the new components ahead of scaling them up for successive electric supercar projects which are already on the drawing board. The 2014 edition of the Pikes Peak International Hill Climb will see 72 drivers attempting the treacherous 20 km course to the summit at 4300 m.