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Tesla curbs forecast due to Model S issues, losses total $864.9M

It ain't easy creating a brand-new automaker from scratch. The fact that Elon Musk and Tesla have actually been able to bring not one, but two cars to market is in itself quite impressive. That said, the road has not been without its bumps, and Tesla is feeling some of the setbacks that come with being a fledgling automaker.
To that end, Tesla has revealed that it expects $400 million to $440 million in full-year revenue, or roughly $160 million less than its prior 2012 revenue forecasts. In a Securities and Exchange Commission filing on Monday, the electric carmaker said "We have methodically increased our Model S production at a slower rate than we had earlier anticipated," leading to the company figuring they'll fall short of the $560 million to $600 million they originally forecasted. Tesla also revealed a net cumulative loss of $864.9 million through June 30 of this year - Tesla has yet to break even as an automaking entity, but it remains something of a startup, so the fact that it has lost money to this point shouldn't be a major surprise - building cars is expensive, and learning how to do so is even more expensive. Following the disclosure, Tesla shares fell about 8.5 percent this morning in trading.
Tesla cites delays in suppliers for its Model S production shortcomings. The California automaker says it is working with suppliers to speed up deliveries and internally, it is adding shifts and automation to its manufacturing processes. With little more than half of the 5,000-vehicle target expected to be built by year's end, Tesla says it is four to five weeks behind its delivery goals.

Dealers in Georgia latest to oppose Tesla showrooms

Tesla has been fighting challenges from dealer groups in several states for years due to the company's decision to sell directly to customers at stores rather than through franchise dealers. The business has won some of these battles like its recent compromise in Pennsylvania, which allows the company to open five stores there. Now, Tesla has another legal struggle ahead of it because the Georgia Automobile Dealers Association is hoping to shut down the brand's boutiques.
The Georgia dealers recently filed a petition to revoke Tesla's dealer license in the state and prevent it from reapplying for another one, according to Automotive News. The company currently operates just one store in Marietta, GA, but it reportedly has two more locations planned around Atlanta in the future. The association claims that Tesla's license limits it to direct sales of a maximum of 150 vehicles a year. It's now selling more than that, but attempting to increase the restriction.
If Tesla wants to keep selling cars in the state, which boasts high incentives and strong popularity around Atlanta for EVs, it needs to switch to franchises, according to the dealers. "No one should be allowed to act as if they are above the law, especially when there is a simple path to compliance that everyone else has agreed to follow," said Bill Morie, president of the association, to Automotive News.

Rinspeed details Tesla-based autonomous XchangE concept for Geneva [w/video]

Like it or not, the age of the self-driving autonomous automobile is just around the corner. But what form will a car's cabin take when the emphasis is taken off of human operation? That's the question that Rinspeed aims to answer with the XchangE concept. Previewed two months ago, Rinspeed has now revealed details, photos and even video footage of the self-driving electric vehicle. This year's concept car from the self-styled "Swiss idea factory" takes a Tesla Model S and modifies it for autonomous operation, freeing up the driver to sit back and enjoy the ride.
The redesigned cockpit includes a pair of highly adjustable front seats that can tilt, swivel and recline to make for a business class-like cabin space for driver and passenger. The drive-by-wire steering wheel slides out of the way when not in use. The dashboard displays all manner of data on four screens through a scalable infotainment package controlled by gestures, based on HTML5 and developed by Harman. The vehicle is fully networked with car-to-car communications and integrated LTE connectivity furnished by Deutsche Telekom. Access to the calming cabin space is granted by RFID technology, there's an LED plexiglass roof panel and a Carl F. Bucherer timepiece mounted in a watch winder on the dashboard.
It all comes across as a rather innovative take on the automobile from a design firm known for doing exactly that with its annual Geneva show cars. There's plenty more to digest in the press release, so check it out along with the video footage below and scope out the hundred-plus high-resolution images in the gallery above.