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Tesla appears to be winning direct sales battle in Missouri

Last week, it looked like Missouri would join the list of states where Tesla Motors would not be allowed to sell its all-electric vehicles directly to consumers. Without warning, language was inserted into a bill about off-road vehicles what would have prevented direct sales in the state. Tesla called it a "sneak attack" and tried to get supporters to let lawmakers know the law was a bad idea. "It is not clear that the statues apply to a seller like Tesla" – Missouri Department of Revenue Thanks to some digging by Tesla fans over at the Tesla Motors Club, it became clear that one of the main drivers of the anti-Tesla legislation was conservative state senator Mike Kehoe, a former Ford and Lincoln-Mercury auto dealer. For some time, Kehoe has been asking the Missouri Department of Revenue if Tesla should have gotten a license to operate its one store in the state (in St. Louis) and said that the automaker's moves were, "clearly designed to circumvent the traditional franchise model for the distribution and sale of new motor vehicles." The DOR responded by saying, "It is clear under Missouri law that traditional manufacturers who already have franchised dealerships in the state may not sell cars directly to consumers. It is not clear that the statues apply to a seller like Tesla, which apparently has not entered into franchise relationships with independent dealers." After Kehoe got that response, it seems, he added the language to the bill. You can read the bill here. The tide may be turning against the proposed law, though. Tesla has apparently hired 10 lobbyists to makes its case. Local newspaper The Kansas City Star published an opinion column yesterday in support of the automaker. "As a business offering something new and better for the environment overall, Tesla should have been given allowances to operate in a different way in the state," the paper wrote. And the state House Republican majority leader, John Diehl, says he has no plans to move the bill forward because lawmakers are worried it would put a limit on the free market and have unintended consequences. Read more here: http://www.kansascity.com/2014/05/12/5019618/missouri-house-leader-not-fond.html#storylink=cp

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.

Saleen hints at tuning Tesla Model S

Saleen has been dropping breadcrumbs about its plans to develop a modified version of the Tesla Model S for a while now, and has finally released the first renderings that show off its changes to the electric sedan.
The four renderings indicate a comprehensive makeover for Saleen's Tesla. The front bumper is completely different with the absence of a grille and new louvered air intakes at the corners. The turn signals on the quarter panel appear to be open now, and the hood has new creases angled toward the center. One of the renderings promises an additional carbon fiber rear diffuser, carbon-ceramic brakes and carbon fiber deckled trim. The rear also has a larger spoiler and more aggressive rear bumper with brake cooling ducts at the corners. The interior appears relatively untouched, but the seats and much of the upholstery has been covered in a mix of leather and Alcantara.
Previously, Saleen promised to amp up the Model S' performance even farther, but it still hasn't gone into detail about what it's changing or how much it is going to cost. "I fully intend to produce one of the most compelling Tesla's to ever hit the roadway," said Steve Saleen, company founder and CEO in an earlier statement. We have contacted Saleen for more details about its plans for the Model S, and we'll update this story when we hear back.