2021 Tesla Model 3 Long Range on 2040-cars

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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.

Morgan Stanley predicts radical auto industry consolidation

A lack of technological foresight and changing economic conditions may bring dramatic consolidation to the auto industry in the next 15 to 20 years. Industry analyst Adam Jonas at Morgan Stanley believes that the number of major automakers could go from around 30 today to as few as 6 in that time. However, a catastrophe is avoidable.
Jonas' argument is that the world has more automakers than it can sustain. He contends that too many of them are more focused on next year's models than attempting to adapt to technological change. Without looking forward, they won't survive.
Tesla might be the lighthouse leading automakers away from the rocks. While still quite small, it has disrupted the status quo and shown that there's more than one way to prepare for new innovations. "With proper execution, Detroit may thank Tesla Motors for being that stiff board in the back of the head right when they needed it," said Jonas to The Detroit News.

Recharge Wrap-up: Shell stops AK ocean drilling, Lego Tesla Model S

Shell says it will halt exploratory drilling near Alaska's coast. While the oil giant has found some oil and gas below the waters, the amount it is finding is not worth the high costs of drilling. Shell also cites "the challenging and unpredictable federal regulatory environment in offshore Alaska" as part of its decision to move on from drilling in the Chukchi Sea, but it is possible public protests had an impact, too. Read more at Treehugger, and in the press release from Shell below. The University of Central Florida's Electric Vehicle Transportation Center will host the EV Transportation and Technology Summit from October 20 to 22 in Cocoa, Florida. The summit is geared toward businesses and organizations with the goals of increasing EV awareness, reviewing current and near future technology, and pointing out deployment achievements and challenges. While its coverage will be more general, the event will focus especially on planning and infrastructure requirements. Learn more at Hybrid Cars, or at the event website. The Tesla Model S still looks good when scaled down for a Lego minifig. A man named Cole Edmonson created a tiny brick version of the iconic EV, and managed to retain the car's distinguishing good looks. Edmonson provides a write-up detailing the process of creating the small, plastic Tesla copy. It's considerably more complicated than one would think. Check out the whole process at Brick Replicas, and read more from The Brothers Brick. Renault and Donfeng will build an electric car in China based on the Fluence ZE. The joint venture between the two automakers - called Dongfeng Renault Automotive Company (DRAC) - will produce the car in its Wuhan plant in 2017. The car will be sold solely in the Chinese market under a local Dongfeng brand. "This EV agreement illustrates Renault's engagement as partner of COP 21," says DRAC CEO Jacques Daniel. Read more at Green Car Congress, or in the press release below. Dongfeng and Renault agree to produce electric vehicles in China On the occasion of the visit of ZHU Yangfeng, Chairman of Dongfeng Group, at the Renault R&D center, Dongfeng Renault Automotive Company (DRAC) announces the production of its first electric vehicle in China. As part of the Joint Venture between Dongfeng and Renault, DRAC will produce an electric vehicle that is based on the Fluence Z.E.