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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.

What to do if you run out of juice in your Tesla Model S

After writing about their Tesla Model S running out of juice on the side of the road between Las Vegas and Barstow, CA recently (read about it here), the fine folks at Teslarati figured they had some 'splainin' to do. The brief explanation is headwinds. Yes, headwinds. A Model S has about 10 miles of range even after it shows a big fat "0" on its dash. Thankfully, the drivers took notes about what to do if your Model S is about to shut down like C-3PO in A New Hope. Step one is to know that the EV has about 10 miles of range (maybe 20) even after it shows "0" on its dash. Once that distance is used up, it's time to pull the car over, and even then there is enough reserve juice to power the screen for a half hour. After that, all that works are the door handles and the flashers. So, before everything goes completely dark, it's best to remember to put the car into "tow mode" and get it into neutral so that the EV doesn't have to be jumpstarted just to get it onto a truck. Also, once the Model S has been recharged from empty, it needs to be powered off in order to reset the system and not keep it in "depleted power" mode. Now you know. The way Teslarati learned all of this was that, after using a Las Vegas supercharger to give their Tesla Model what they thought would be about 240 miles worth of range for the 160-mile drive, the car unfortunately provided them with just 157 before shutting down. The culprit was a sand storm that sent 35-mile-per-hour headwinds (and probably a bit of grit) into the car as it maintained a 75-mph cruising speed. Teslarati also said elevation changes were part of the problem. Las Vegas and Barstow are both about 2,200 feet above sea level, but there are a bunch of hills in between, and we guess the declines giveth less then the inclines taketh away. Happens to the best of us.

Tesla drops Model S prices in Europe due to strengthening euro [UPDATE]

Tesla Motors has been thinking about European Model S sales for years, but things haven't always gone as planned. While sales have been brisk in Norway, the car is less popular in places like Germany, where sales have been slow - less than 100 units sold in the first two months - according to Inside EVs, which prompted the introduction of a special Autobahn package. To reverse the trend, Tesla is putting on its finest plaid polyester suit and is slashing prices like they're going out of style. Yes, we know Tesla doesn't have traditional dealerships and the whole suit thing is an old stereotype, but sometimes you just gotta run with it. Tesla PR in America hasn't responded to our request for confirmation (see update below), but online sources show the drops are fairly substantial. In Germany, for example, Tesla has dropped almost 7,000 euros ($9,700 US at today's exchange rate) off the price, down to 65,300 euros ($90,600), while in Holland, the new price is down 4,000 ($5,500) euros to 66,200 ($91,900). No reason was given for these drops, but we can't help but suspect that demand isn't too strong at the moment. To help increase sales, Tesla recently announced an expansion of its Supercharger network on the continent. The price of the Model S has not dropped in the US, where the base model starts at $69,900 before incentives. *UPDATE: Tesla's director of global communications, Elizabeth Jarvis-Shean, said that our speculation that demand is low is "simply incorrect." She added: "Changes were made two months ago to all the base prices of Model S across our markets in the Euro-zone due to the strengthening of the Euro. We continuously evaluate currency fluctuations to be able to offer our customers the best price for Model S. Prolonged currency exchange rate fluctuations are the reason for the adjustment of the base pricing of the car."