Elon Musk who has already committed to personally to guaranty resale values for Model S buyers is again putting his money where his mouth is. The maverick CEO and Tesla co-founder intends to purchase $100 million worth of common stock announced as being made available for public sale today and expected to raise about $830
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Consumer Reports’ just-released Model S road test says it may be the best car it has ever tested, but the publication cannot recommend it. While the review gushes with praise for the car that “takes everything you know about cars and stands it on its head,” keeping to a tradition of conservatism, it essentially says
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As announced in advance last month, Tesla Motors has become profitable for the first time in its 10 year history. Its profit for the quarter ending March 31 on $562 million in sales from delivery of 4,900 Model S sedans out of over 5,000 built was $11 million. Tesla also doubled its gross margin in
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The normally staid publication dedicated to consumer advocacy has released a video in advance of its road test. We’ll do a separate story on that after it’s released today, but in the mean time here’s some frivolous entertainment, as CR otherwise raves about the new electric car. “Driving a Tesla Model S is like having
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Tesla CEO Elon Musk said recently that a logical progression for Tesla vehicle evolution will in time include an “autopilot system” similar in concept but with less cost-intensive technology than that now being tested by Google. “Self-driving cars are the natural extension of active safety and obviously something we should do,” Musk said in an
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Tesla has hired Aston Martin’s Chief Engineer of Vehicle Engineering, Chris Porritt, to be its Vice President of Vehicle Engineering. Tesla said Chris is a world-class leader and automotive engineer who established Aston Martin’s Vehicle Engineering team from the ground up and used his innovative approach as Chief Engineer for Aston Martin’s One-77 supercar. The
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Tesla Motors announced today that it is raising the Model S resale value guarantee. Tesla said this makes it the highest resale value of any premium sedan brand made in volume (excludes rare, low volume or limited edition vehicles). Buying a Model S through the Tesla financing offering now comes with a guarantee that the
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In the month by month sales performance chronicle of the two electrified cars both launched December 2010, April’s results saw Nissan selling 1,937 Leafs and Chevrolet delivered 1,306 Volts. The cars are only similar; the Leaf is all-electric and the Volt is “extended-range electric,” but we’re keeping the informal progress report going, even though GM
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It’s getting to be a familiar story even with those who are only mildly paying attention. In a variation of similar reactions seen also by authorities in other states, Virginia has refused to permit a license first applied for by Tesla Motors in March 2012 to open a retail store in Tysons Corner. Tesla now
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Tesla’s sales distribution model of selling cars directly through stores rather than through the traditional dealership model seems to be well seen in Texas; or at least well seen by business readers of the Austin Business Journal. A readers poll conducted by the Austin Business Journal shows that 86 percent of respondents favor direct-to-consumer sales
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