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Tesla Model S will get price increase

Tesla has confirmed the Model S will soon see a price increase. The company has yet to release details on how much more the critically acclaimed electric vehicle will cost moving forward, but has released a few details about how the shift will affect buyers with existing reservations. Tesla says the increase will not apply to anyone who has a reservation so long as they configure and finalize their order "within a fair and predefined timeframe." Likewise, those buyers who deferred their reservations will be able to keep the original pricing by finalizing their order within the same timeframe.
Tesla says the price shift will also include changes to the Model S option package structure, and that some features currently considered standard equipment will become added cost options in the future. As with the overall price increase, these changes will not impact those with current orders, reservations or deferred reservations. Expect to hear more about the price increase as information becomes available, and in the meantime you can read the brief press release below for more information.

Driver of stolen Tesla involved in fiery crash dies

On July 4, someone reportedly stole a Tesla Model S from a Tesla store in Los Angeles and, after driving it at speeds over 100 miles per hour, crashed into a light pole, splitting the car in two, causing a fire and severely damaging other cars and injuring their occupants. The fact that the driver survived the fiery wreck was surprising to experts, but now we have news that the driver has passed away. The driver, 26-year-old Joshua Michael Flot of Inglewood, CA, actually passed away July 7 but the news and his identity were not announced until today so the police could notify his family. As far as we know, this is the first death involving a driver or passenger in a Tesla Model S. According to safety experts Bloomberg interviewed, the crash and the fire should have killed Flot immediately. "It looked like a non-survivable crash," said Casey Grant of the National Fire Protection Association. Bloomberg has more on how dangerous a steel pole crash can be, here. Indeed, the pictures are astonishing, with the Model S completely destroyed and one half of the car wedged into a nearby building. Tesla spokesman Simon Sproule issued a statement that said, "We are saddened by the harm that resulted from the July 4 theft and crash. We are assisting the authorities as needed as they continue their investigations."

Analyst predicts GM will buy Tesla in 2014

There's little question that Tesla has come at the automotive industry as an outsider. But will it last as an outsider for much longer? Not if you ask Yra Harris of Praxis Trading. According to USA Today, the veteran financial analyst recently predicted on CNBC that General Motors will try to buy Tesla in 2014.
It certainly wouldn't be the first time that GM acquired another automaker. It did just that when it purchased the rights to the Hummer brand from AM General in 1999 and completed its takeover of Saab the year after. But, of course, The General has since divested from both, shutting down its Pontiac and Saturn brands in the process. Daewoo and Oldsmobile are gone too, as is Geo. Chevrolet is to be withdrawn from Europe, and over the past few years, GM has sold its minority stake in Isuzu, Subaru, Suzuki and PSA Peugeot-Citroën as well.
Of course, none of these are dedicated electric carmakers like Tesla is, and the Volt may not be doing as well as Detroit had initially hoped. But does that mean it's ready to start expanding its brand portfolio again? With all due respect to Mr. Harris, somehow we doubt it - especially with Tesla currently enjoying sky-high market valuation. The company's market capitalization stands at over $18 billion - more than 100-plus times its earnings. That would make mounting a Tesla takeover a hugely risky and costly endeavor unless Wall Street tempers its stock value greatly.