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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.

Credit Suisse says Tesla remains 'top stock pick'

Plunking down $100,000-plus on a Tesla Model S? A dubious (though probably really fun) investment. Spending about $218 on a share of the company? That might be a far better bet. Credit Suisse Group called Tesla a "top stock pick" in the automotive industry earlier this week. The selling point is the company's battery technology and the prospect of falling lithium-ion battery costs from the gigafactory Tesla is building in Nevada. Specifically, Tesla may be able to bring down battery costs enough to make its electric vehicles price-competitive with conventional vehicles by 2017, all while saving the typical driver about $2,000 in annual refueling costs (excluding any extra spending on tires thanks to a yippee quotient that comes with driving a Model S). Also pushing up Credit Suisse' value of the company is the upcoming introduction of the Model X SUV. Credit Suisse, which has a $325 target price on the company, is making the recommendation after a wild years of ups and downs that ended up with TSLA stock almost exactly where it was 12 months ago (it's actually down about a dollar). That said, shares have jumped more than tenfold since the California-based company went public in 2010, so it's been a very good buy for the long-term investor. Featured Gallery Tesla Model S View 10 Photos News Source: Bidnessetc Green Tesla Electric

Tesla Model S proves troublesome for Consumer Reports

The Tesla Model S has turned into the breakthrough model that electric cars needed. Instead of looking like a futuristic jellybean whizzing by, the Tesla would still be incredibly attractive with a V8 stuffed under the hood. But beyond its appealing styling, the luxury sedan offers a realistic driving range, impressive performance and oft-praised driving dynamics. It's everything many drivers are looking for. However, as more long-term reviews come out, it's becoming clear that living with one of these wonder cars isn't without its fair share of problems.
A few weeks ago, Edmunds published its 17-month ownership experience with a Model S. It praised the experience being behind the wheel of the luxury sedan, at least when it was possible. Edmunds reported that it had to make seven unscheduled trips to the service bay and even left a writer by the side of the road once. The biggest issues included replacing the drive unit three times, needing a new main battery and numerous resets of the center screen.
Consumer Reports just wrote about its own driving impressions after 15,743 miles, and its experience with the Model S has hardly been a walk in the park, though not nearly as bad as Edmunds' rough time. The infotainment screen needed a hard reset once after blinking out, and one unscheduled service left the sedan in the shop for two days. There have been other, smaller issues too. In Tesla's favor, the repairs were done under warranty.