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Tesla Model S sells 6,900 units in Q4, eyes top of the charts

Tesla Motors sold roughly 6,900 of its battery-electric Model S sedans during the last three months of 2013, making it the country's best-selling plug-in vehicle during the fourth quarter. The California-based automaker beat independent sales estimates by about 20 percent and increased its quarterly sales rate from the third quarter by about 25 percent. More notably, Tesla's fourth-quarter sales beat those of Nissan Leaf EV (6,534 units), and the Chevrolet Volt extended-range plug in (6,334). For the year, Tesla sold about 22,300 vehicles, putting it just behind the Volt's 23,094 vehicles and the Leaf's 22,610. Heck, Tesla sold more green cars last year than Honda, which moved about 20,600 battery-electric, hybrid and plug-in vehicles, combined. Investors were certainly happy with the news. Shares of TSLA were up around 16 percent in Tuesday trading, closing at $161.27. The news release was conveniently timed to change the story from the issues Tesla has regarding its wall chargers and what's believed to be their potential role in a garage fire. The National Highway Traffic Safety Administration (NHTSA) said earlier today that more than 29,000 of Tesla's wall charger adapters were being recalled. You will find Tesla's press release on Q4 sales numbers below. Tesla Revenue Expected to Exceed Guidance by 20% in Fourth Quarter Sales Driven by Superlative Safety Record and Excellent Cold Weather Performance TUESDAY, JANUARY 14, 2014 PALO ALTO, Calif. – Tesla sales in the fourth quarter of 2013 were the highest in company history by a significant margin. With almost 6,900 vehicles sold and delivered, Tesla exceeded prior guidance by approximately 20%. A higher than expected number of cars was manufactured as a result of an excellent effort by the Tesla production team and key suppliers, particularly Panasonic. The two key drivers of demand were the superlative safety record of the Model S and great performance under extremely cold conditions. Safety Record Tesla remains the only manufacturer with a perfect safety record of zero deaths or serious, permanent injuries ever. Including the Roadster, Tesla vehicles have now been on the road for almost six years in 31 countries with almost 200 million miles driven to date. Despite dozens of high speed collisions, the driver and passengers have always been protected. This is Tesla's proudest achievement.

Musk says New York Times debacle may have cost Tesla $100 million

Despite the old chestnut that there's no such thing as bad publicity, there's always a cost incurred - sometimes it's hidden, and sometimes it's front and center. Enigmatic Tesla CEO Elon Musk seems to think his company's now-infamous Model S range dustup with The New York Times is falling squarely into the latter category. According to Musk, fallout from the back-and-forth battle over the newspaper's cold-weather road trip story may have decimated Tesla's stock value by as much as $100 million. Musk believes the report resulted in a lot of cancelled orders, probably costing Tesla "a few hundred" Model S purchases.
According to the report, Tesla's shares have tumbled some 12 percent (going from $39.24 to $34.38) since the report was published. Bloomberg further notes that the company's market capitalization has skidded by around $553 million over that same period. With the company's stock-market value pegged at $3.91 billion, $100m represents a not insignificant chunk of money to Tesla.
So how does Musk feel about embattled Times writer John Broder, whose controversial report he previously called "fake"? During the interview with Bloomberg TV, which you can watch below, Musk opines, "I don't think it should be the end of his career - I don't even think necessarily he should be fired - but I do think he fudged an article." No word has surfaced about any actions taken against Broder after his boss admitted he did "not especially" exercise "good judgement" in the course of his reporting.

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.