6th September 2013
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New York Supreme Court Rules in Favor of Tesla Factory-Direct Stores – Rumor Central

Lately, it seems Tesla CEO Elon Musk has been on tour around the country speaking in favor of his factory-direct sales model, against influential state dealer associations that see factory-direct car sales as a threat to the traditional dealership business model. Musk was most recently in Texas at a legislative hearing defending the factory-direct model. A New York Supreme Court justice ruled on Thursday that franchised dealers could not prove sufficient injury to prevent Tesla ...
25th August 2013
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Tesla Faces Off Against Texas Dealer Association – Rumor Central

After a contentious and ongoing battle with the Massachusetts dealer association, California-based electric carmaker Tesla is now facing off against the Texas Automobile Dealers Association in a bid to expand its presence in the Lone Star state. Tesla is facing regulatory battles with state dealer associations in several states, Automotive News reports. Tesla VP of business development, Diarmuid O’Connell has among the highest barriers in the nation for the operation of a factory-owned store. Tesla currently ...
24th August 2013
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Tesla Loses $396.2 Million in 2012, Posts Net Loss In Q4 – Rumor Central

The 2012 loss grew some $141.8 million over the company’s 2011 losses, bringing the red ink to a total of $396.2 million. According to Automotive News, “manufacturing and supply chain inefficiencies” were behind the fourth-quarter loss of almost $90 million, which was up by $8.4 million over the same period in 2011. Indeed, the automaker says much of its red ink stems directly from ramping up production of the Model S sedan, the company’s sole product ...
22nd August 2013
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Tesla Expected to Take First Quarter 2013 Plug-In Sales Lead – Rumor Central

The first models that come to mind for mass-market plug-in vehicles are probably the Chevrolet Volt, Nissan Leaf, and more lately, the Ford Fusion and C-Max Energi. But the best-selling plug-in vehicle for the first quarter of 2013 is expected to be our 2013 Automobile of the Year, the Tesla Model S. Bloomberg reports that the company will reveal the sales results as part of their official sales and financial report to be released on ...
21st August 2013
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Tesla Predicts $178 Million for Initial Public Offering

Get your checkbooks out: Tesla is now planning to file an initial public offering at an estimated $178 million. Well, not quite yet. Tesla, which has lost money hand over fist since inception, believes it can make an IPO of $178 million, up from a January estimate of $100 million. The automaker plans to sell just over 11 million shares, at $14 to $16 each, and will be bolstered by a planned $50 million investment from Toyota. Currently, ...
20th August 2013
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Tesla Claims Plug-In Sales Lead for First Quarter 2013 – Report

The Tesla Model S has never been marketed or positioned as a mass-market volume play along the lines of the Nissan Leaf or Chevrolet Volt, but despite the car’s not-insignificant purchase price, the Palo Alto, California-based company is expected to report first-quarter sales of the Model S surpassing the Leaf and Volt, making the Model S the best-selling plug-in vehicle for the quarter, according to Bloomberg. Tesla is expected to report 4750 deliveries of the Model ...
19th August 2013
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One Week Later, Tesla Stock Price Falls Below IPO

Despite a number of challenges still to be overcome, electric car-maker Tesla celebrated a triumphant Initial Public Offering that raised $260 million for the fledgling company. Just a week later, though, things have taken a turn for the worse. Originally, Tesla had planned to sell 11.1 million shares at $14 to $16 each, but revised its strategy at the last minute and bumped its sale to 13.3 million shares at $17 each, which would earn the ...
16th August 2013
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Tesla Model S Sales Exceed Expectations, Low-Range Model Axed

Tesla Motors announced today that it will report profitability for the first quarter, after sales of the Model S electric sedan exceeded expectations. Tesla has sold 4750 units of the car thus far, up from the 4500 units previously planned. The announcement is good news for Tesla after a disappointing year in 2012, when the company lost almost $400 million. Last year, Tesla sold just 2650 units of the Model S while it ramped up production ...
7th August 2013
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Report: Dealer Associations Challenge Legality of Factory-Owned Tesla Stores

State laws may put a kink in Tesla Motors’ retail plans, as the EV automaker’s factory stores are being questioned by dealer associations and state regulators, reports Automotive News. Tesla hoped to recreate the Apple buying experience with its factory stores, but dealer associations in a number of states claim those stores create unfair competition for conventional dealerships. The main complaint is that Tesla’s stores are in violation of state franchise laws, which bar factory ownership ...
4th August 2013
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Lingering Losses: Tesla Reports $38.4 Million Loss for the Second Quarter

Tesla Motors has yet to post a profit in its short history, and just recorded another significant loss for the second quarter of 2010. With sales of its Roadster electric vehicle in limited quantities, Tesla is now looking toward the launch of its second product, the Model S, in hope of turning a profit Although revenue was strong at $28.4 million – a 5.4-percent increase over the same period last year – the automaker managed ...