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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.

Tesla 3 Series-fighter to be named Model III

Tesla really is a unique automaker. Usually when a new model is confirmed, there are big press announcements touting a company's latest, greatest vehicle and everything it can do for consumers. Elon Musk's electric car company likes to do things a little differently, though. Instead, the CEO gave an interview about its long-awaited entry-level offering, the Model III, to the UK's Auto Express and confirmed the story on its Facebook page.
Post by Tesla Motors.
Corporate statements doesn't get much simpler and to the point that that. The smaller, cheaper Model III will be aimed against compact premium sedans like the BMW 3 Series and will be unveiled in 2016 before actually going on sale in 2017. According to Musk, the new vehicle will offer a 200-mile range and will carry a price tag of around $35,000.

Recharge Wrap-up: Tesla Model X wins Golden Steering Wheel, Norway extends EV tax break

The Tesla Model X has won the "Golden Steering Wheel" award for best SUV from Auto Bild. The German publication's readers nominated and jury selected the EV for its powerful electric powertrain, "futuristic cabin," and falcon wing doors among other things. Tesla accepted the award with enthusiasm, saying, "Today, we are truly honored to announce that Model X has been awarded the Golden Steering Wheel (Das Goldene Lenkrad), one of the most prestigious automotive awards in the world." Tesla goes on to note the many challenges it faced and the updates it has made to its electric SUV. Read more at Teslarati, or from Tesla. Renault faces a criminal investigation over diesel emissions after a consumer watchdog sent its findings to prosecutors. The French government says that now that findings from DGCCRF are in their hands, "It is now up to the courts to determine what further action to take over the suspected breaches." After Renault reprogrammed its exhaust gas recirculation system after problems with clogging turbochargers, the affected cars pass room-temperature tests, but apparently spew more NOx emissions in real-world driving. Read more at Automotive News Europe. Norway has decided to keep tax exemptions for EVs until 2020. The country was set to phase out the VAT exemptions that made electric cars so popular in the country, but with goals for 100 percent electric car sales by 2025, the country has reportedly passed a resolution to keep the incentive in place. It will allow buyers to continue to save money on cleaner cars while allowing time for electric vehicles to reach more competitive pricing with traditionally powered cars. Norway leads the world with 28.8 percent of sales being plug-ins, with pure EVs taking a 19 percent share as of September 2016. Read more at Electrek. Featured Gallery 2016 Tesla Model X: First Drive View 31 Photos News Source: Teslarati, Tesla, Automotive News Europe, ElectrekImage Credit: Copyright 2016 Sebastian Blanco / AOL Government/Legal Green Tesla Renault Emissions Green Automakers Diesel Vehicles Electric recharge wrapup