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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.

Recharge Wrap-up: BMW's 2015 awards, Tesla Superchargers in Poland

Poland will soon get its first Tesla Superchargers. A photo on Reddit appears to show multiple parking stalls with Superchargers under wraps at an Orlen fuel station. Tesla recently signed a deal with the German branch of Polish oil refiner Orlen to install Superchargers at fuel stations in Germany, and it appears the focus is shifting eastward to Poland. Some question whether it makes sense for Tesla to focus on Poland, where the cities have a lot of high-rise dwellings and few private garages. Tesla, however, is known for taking risks on building infrastructure as an investment in future customers. Read more from Teslarati. Is it really true that most pedestrian crashes are the pedestrian's fault? Baltimore County and other authorities claim this is the case, but upon examination, this appears to be because roadways aren't always designed with the entire community in mind. In some cases, for instance, large, multi-lane roads travel through neighborhoods where more residents travel by foot out of necessity. "The really tragic part about it is that the two areas where we've had the most pedestrian fatalities, these are disinvested, depopulated areas," says Dallas City Councilman Philip Kingston. "Those big arterials are completely unnecessary. It's so overbuilt. The infrastructure is built for a bygone era that simply doesn't match what's there now." Read more at Treehugger. BMW won numerous distinctions for sustainability in 2015. Among the automaker's many other accolades for a variety of vehicles, The BMW i3 and i8 were singled out for praise. The i8 won four awards, including Green Car of the Year, from the World Car Awards. It was named All-Wheel Car of the Year by Auto Bild, and best sports car by multiple organizations. The i3 won Car of the Year Australia, Blogger Auto Award for the Small Car category, Auto Bild Value Master award for EVs, among others. Read more in the press release below. Distinctions, prizes and awards for BMW in 2015. Position confirmed as worldwide trendsetter in innovation, design, quality and sustainability. Munich. 2015 was a highly successful year for the BMW Group and this is confirmed by overwhelming worldwide acknowledgement. This year BMW vehicles won numerous national and international distinctions in categories as varied as innovation, design, sporty flair, quality, sustainability and intelligent vehicle connectivity.

Tesla says Model S fire started in battery pack; share prices falling

Yesterday's fire that engulfed a Tesla Model S, the first blaze involving the critically acclaimed electric sedan, was caused when a piece of road debris impacted the front of the car, damaging the battery pack and starting a fire, according to an email sent to AutoblogGreen by Tesla. Now, The New York Times has learned that the fire was indeed caused by debris that made "a direct impact ... to one of the 16 modules within the Model S battery pack," according to Tesla spokesperson Elizabeth Jarvis-Shean.
Despite the blaze, Tesla maintains that the battery packs did their job by isolating the fire, with Jarvis-Shean saying, "Because each module within the battery pack is, by design, isolated by fire barriers to limit any potential damage, the fire in the battery pack was contained to a small section in the front of the vehicle."
The nature of the fire, though, seemed to catch the Kent Fire Department Regional Fire Authority off guard. The department's report, which was obtained by the International Business Times and partially published on Jalopnik, claims that water used to put out the blaze seemed to intensify the fire, forcing the firefighters to use a dry chemical. Later, they found the battery pack still burning inside the front end. The report claims firefighters, "had to puncture multiple holes in the pack to apply water to the burning material in the battery," and also had to cut into the frame to douse the burning pack.