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Popular Science magazine's Best Of What's New 2012 all ate up with cars

Popular Science has named the winners in its Best of What's New awards, the victors coming in the categories of aerospace, automotive, engineering, entertainment, gadgets, green, hardware, health, home, recreation, security and software. The automotive category did not go wanting for lauded advancements:
Tesla Model S: the Grand Award winner for being "the standard by which all future electric vehicles will be measured."
BMW 328i: it's 2.0-liter turbocharged four-cylinder gets called out for being more powerful and frugal than the six-cylinder it replaces.

Ferrari, not Tesla, might be the stock to buy

Last week Tesla's earnings – or lack thereof – were one of the big stories in the auto industry. As usual, the electric carmaker didn't make money, but the news sent the market, analysts, and Tesla's devoted fans into a lather. But another company, this plucky upstart called Ferrari, also attracted a positive reaction from the market and actually had the financials to back it up. Ferrari posted net revenues of $898 million (at today's exchange rates) EBITDA of $265 million (a slightly complicated way to snapshot financial performance) and an adjusted net profit of $136 million in the first quarter. The company delivered 2,003 cars, and sales of its V12 models increased 50 percent. It quietly made progress nearly a year and a half into its life as an independent automaker. For 2017, Ferrari expects to deliver 8,400 cars and rake in net revenue of $3.6 billion. No one thought Ferrari would flounder when Fiat Chrysler Automobiles spun it off in fall 2015. With a rich history, expensive products, and its own loyal fan base that's arguably even larger than Tesla's, the company seemed poised for success, though skeptics wondered how it might fare after longtime chief Luca di Montezemolo stepped down before the spinoff. Plus, the company remains within the FCA sphere, as its key stakeholders are largely connected to its former parent in some way, and Chairman Sergio Marchionne also steers FCA. Last week's results showed Ferrari is gaining footing in the evolving automotive world, and analysts responded. UBS analyst Michael Binetti reiterated Ferrari stock (RACE on the NYSE) as buy status and raised his target price from $85 to $92. Morgan Stanley's Adam Jonas was even more bullish, raising projections to $100 in the next 12 months. Shares were trading around $82 Monday morning. Both analysts viewed Ferrari as something different than a conventional automaker stock, with Binetti comparing it to luxury house Hermes, which produces high margins even for a specialty goods maker. Jonas suggested Ferrari's singular reputation and history (16 Formula One Constructors titles, the most ever) could insulate its products when autonomous and electric cars become even more commonplace. "In our view, a Ferrari is not transportation," he wrote in a note to clients. "Ownership is viewed as an exclusive club, and membership requires more than just money.

New Jersey votes against Tesla, stores may close April 1

Doesn't New Jersey Gov. Chris Christie have enough people mad at him already? Apparently not, since more than a few folks who like Tesla Motors are ready to get riled up. The governor is already embattled via his office's alleged role in a scandal involving politically-motivated lane shut-downs to the George Washington Bridge. And with him now deciding to let the state's motor-vehicle commission rule on allowing for Tesla to own its dealers, Tesla has likely lost that battle and may have to shutter its two New Jersey factory-owned stores by April 1, Automotive News says. Earlier this week, Tesla accused the governor on going back on his word after the company said it believed that the ruling would go before state legislature. Of course, the governor's office disagreed with that characterization. Kevin Roberts, a spokesman for Gov. Christie, sent a statement to AutoblogGreen that said: Since Tesla first began operating in New Jersey one year ago, it was made clear that the company would need to engage the Legislature on a bill to establish their new direct-sales operations under New Jersey law. This administration does not find it appropriate to unilaterally change the way cars are sold in New Jersey without legislation and Tesla has been aware of this position since the beginning. Tesla strenuously disagrees with that characterization, and Diarmuid O'Connell, Tesla's vice president of business development, told Bloomberg that, "any suggestion that Tesla was told 'since the beginning' about any problem with its ability to be licensed there is false." Representatives for New Jersey auto dealers say the ruling merely upholds current regulations and forces everyone to operate under the same mandate. Tesla first received approval to operate in New Jersey in the fall of 2012. Tesla has won court decisions regarding dealer allowances in Massachusetts and New York, though most notably lost one in Texas (the company also can't sell cars direct to customers in Arizona). In the past, Tesla CEO Elon Musk has said he'd take the matter to the federal government, and we wouldn't be surprised to hear that sort of rallying cry come up again soon.