For its fiscal fourth quarter, Tesla Motors Inc (NASDAQ:TSLA) reported revenues and earnings that missed the Street’s estimates by some margin. Net loss per share swelled to 86 cents, up from the net loss of 13 a cents a share posted in the same quarter last year.
DETROIT — Electric car maker Tesla Motors is going after mainstream luxury car buyers by adding all-wheel-drive and more range and power to the base version of its only model.
But the added features at the low end of the Model S lineup will come with about a 7 per cent price increase, to US$75,000 for those buying the cars. The base lease price will rise to US$838 per month from US$796 for 12,000 miles per year.
Tesla Motors Inc (NASDAQ:TSLA) has successfully been serving its premium electric Model S sedan to a niche global target market that can afford the $71,000 luxury. The company plans to roll out another premium Model X electric SUV in the third quarter next year, and a smaller mass-market Model 3 electric sedan two years later, which it hopes to price at about 50% of the starting price of a Model S.
Tesla is getting serious about its next vehicle, the highly anticipated Model X. So serious that the company is shutting down production of the Model S sedan for two weeks at its factory in Fremont, Calif. to install new equipment.
Tesla Motors Inc.’s (NASDAQ:TSLA) 2015 product lineup is quite impressive and includes the upgraded Model S with the all-wheel drive and self-driving “autopilot” features, as well as the highly anticipated electric Model X crossover SUV. However, according to Consumer Reports, the company is boosting incentives on the 2014 Model S, including units put on display, before the release of the 2015 cars.
Tesla Motors Inc (NASDAQ:TSLA) has been getting bad vibes from China lately, as stalling sales take a toll on its top executives in the region. The automaker said today that June Jin, its Vice President of Communications in China, was no longer working for the company.
Luxury car maker Porsche, which is owned by Volkswagen AG (ADR)(OTCMKTS:VLKAY) is coming up with its all electric car ‘Pajun’ sedan and is expected to pose a challenge for Tesla Motors' Model S.
The Porsche EV is expected to hit dealerships by 2018. The electric car is said to be a smaller version of its sibling, the Panamera, for which the automaker is expanding its lineup to bring out fuel efficient plug-in hybrid variants.
General Motors Company (NYSE:GM) shares closed down 2.7% in yesterday’s trading session in spite of an expected profit surge reiterated by CEO Mary Barra and other executives at the Global Auto Industry Conference in Detroit. GM management announced that it expected improved profitability from the company in 2015, after witnessing major recall challenges in 2014 with tens of millions of cars.
Daimler AG’s (OTCMKTS:DDAIF) Mercedes-Benz marquee has announced a breakthrough concept that could be the most serious step toward autonomous cars. The Germany luxury automaker unveiled the F 015 "Luxury in Motion" concept last night at the Consumer Electronics Show (CES) 2015 in Las Vegas, and gave a roadmap to its progress into driverless vehicles for the future.