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Found 14 results

  1. Tesla posted a $722M loss for the first quarter of 2019, higher than analysts expectations. This was a swing from a 4th quarter 2018 profit of $139.5M. Cash on hand is $1.5B lower than end of 2018, now $2.2B, partially due to a one time payment of $920M in convertible bonds that came due. Tesla says that is built 63,000 model 3s in the first quarter gearing up for overseas sales, though only 12,100 of those vehicle were delivered. Tesla is maintaining its projections of 360,000 to 400,000 vehicles total for the year. Tesla recently announced updates to its Model S and Model X vehi
  2. Tesla posted a $722M loss for the first quarter of 2019, higher than analysts expectations. This was a swing from a 4th quarter 2018 profit of $139.5M. Cash on hand is $1.5B lower than end of 2018, now $2.2B, partially due to a one time payment of $920M in convertible bonds that came due. Tesla says that is built 63,000 model 3s in the first quarter gearing up for overseas sales, though only 12,100 of those vehicle were delivered. Tesla is maintaining its projections of 360,000 to 400,000 vehicles total for the year. Tesla recently announced updates to its Model S and Model X vehi
  3. Tesla announced their second quarter results yesterday and the news wasn't great. The electric automaker posted a net loss of $293 million for the quarter. It also looks like Tesla might fall short of delivering 80,000 vehicles goal for this year. The quarter saw Tesla move 14,402 vehicles (9,764 Model S and 4,638 Model Xs). Add in the first quarter deliveries of 11,507 vehicles, and Tesla is very short of meeting this goal. "We are clearly disappointed with our delivery numbers," said Tesla CFO Jason Wheeler. It should be noted that 'almost half' of Q2's deliveries took place within t
  4. Tesla announced their second quarter results yesterday and the news wasn't great. The electric automaker posted a net loss of $293 million for the quarter. It also looks like Tesla might fall short of delivering 80,000 vehicles goal for this year. The quarter saw Tesla move 14,402 vehicles (9,764 Model S and 4,638 Model Xs). Add in the first quarter deliveries of 11,507 vehicles, and Tesla is very short of meeting this goal. "We are clearly disappointed with our delivery numbers," said Tesla CFO Jason Wheeler. It should be noted that 'almost half' of Q2's deliveries took place within t
  5. Imagine getting into a new vehicle with a payment that could range $39 to $99 per month. Seem like a fantasy? Well that is what a number of Volkswagen dealers across the U.S. are doing. An example is a Volkswagen dealer offering an $89 36 month lease on Jetta, after you hand over $2,500 as a down-payment. It's part of an effort by Volkswagen to bring customers in now at a loss to have hopefully return in three years when the automaker will have a brand new lineup. 2018 will see Volkswagen in the beginning stages of their plans to introducing new products every five years - a seven-seat cro
  6. Imagine getting into a new vehicle with a payment that could range $39 to $99 per month. Seem like a fantasy? Well that is what a number of Volkswagen dealers across the U.S. are doing. An example is a Volkswagen dealer offering an $89 36 month lease on Jetta, after you hand over $2,500 as a down-payment. It's part of an effort by Volkswagen to bring customers in now at a loss to have hopefully return in three years when the automaker will have a brand new lineup. 2018 will see Volkswagen in the beginning stages of their plans to introducing new products every five years - a seven-seat cro
  7. When was the last time you ever heard the CEO of a major automaker say don't buy our car? Never? Well Fiat Chrysler Automobiles' CEO Sergio Marchionne may be the first one. Reuters reports that Marchionne told an audience at the Brookings Institution in Washington D.C. last week that anyone considering the Fiat 500e should not buy it. "I hope you don't buy it because every time I sell one it costs me $14,000. I'm honest enough to tell you that," said Marchionne. "I will sell the (minimum) of what I need to sell and not one more." So why did FCA build the 500e in the first place then? It co
  8. When was the last time you ever heard the CEO of a major automaker say don't buy our car? Never? Well Fiat Chrysler Automobiles' CEO Sergio Marchionne may be the first one. Reuters reports that Marchionne told an audience at the Brookings Institution in Washington D.C. last week that anyone considering the Fiat 500e should not buy it. "I hope you don't buy it because every time I sell one it costs me $14,000. I'm honest enough to tell you that," said Marchionne. "I will sell the (minimum) of what I need to sell and not one more." So why did FCA build the 500e in the first place then? It co
  9. William Maley Staff Writer - CheersandGears.com October 30, 2013 The U.S. Treasury's sell off of General Motors stock isn't faring so well. According to a new report from The Detroit News, the U.S. Treasury has reported a $9.7 billion loss on the $49.5 billion bailout of GM back in 2009. This figure comes from the quarterly report from the Special Inspector General of the Troubled Asset Relief Program to Congress. The U.S. Treasury original stake in GM back in 2009 was around 60.8 percent. Since that time, the Treasury has been selling off shares in a effort to make back some of the funds
  10. William Maley Staff Writer - CheersandGears.com October 30, 2013 The U.S. Treasury's sell off of General Motors stock isn't faring so well. According to a new report from The Detroit News, the U.S. Treasury has reported a $9.7 billion loss on the $49.5 billion bailout of GM back in 2009. This figure comes from the quarterly report from the Special Inspector General of the Troubled Asset Relief Program to Congress. The U.S. Treasury original stake in GM back in 2009 was around 60.8 percent. Since that time, the Treasury has been selling off shares in a effort to make back some of the funds
  11. By William Maley Staff Writer - CheersandGears.com April 22, 2013 Fiat and Chrysler CEO Sergio Marchionne disclosed during a speech at SAE World Congress in Detroit last week that for every Fiat 500e sold, the company expects to lose around $10,000. “For every 500 electric that we produce even after all the subsidies we will lose about $10,000 bucks a car. Doing that on a large scale would be masochism to the extreme,” Marchionne said. Marchionne disclosed the figure to make a point. He believes that electric vehicles won’t be enough for automakers to meet the new ambitious fuel economy r
  12. By William Maley Staff Writer - CheersandGears.com April 22, 2013 Fiat and Chrysler CEO Sergio Marchionne disclosed during a speech at SAE World Congress in Detroit last week that for every Fiat 500e sold, the company expects to lose around $10,000. “For every 500 electric that we produce even after all the subsidies we will lose about $10,000 bucks a car. Doing that on a large scale would be masochism to the extreme,” Marchionne said. Marchionne disclosed the figure to make a point. He believes that electric vehicles won’t be enough for automakers to meet the new ambitious fuel economy r
  13. William Maley Staff Writer - CheersandGears.com September 26, 2012 On the surface, everything seems bright and sunny at Tesla. The company has begun production of the new Model S sedan, introduced a new charging network for Model S drivers that uses solar energy, and is in the process of planning new models. But, Tesla is showing some signs of setbacks of becoming an automaker. In a recent Securities and Exchange Commission filing, Tesla has downgraded their full-year revenue forecast from $550 - $600 million to $400 - $440 million. "We have methodically increased our Model S production a
  14. William Maley Staff Writer - CheersandGears.com September 26, 2012 On the surface, everything seems bright and sunny at Tesla. The company has begun production of the new Model S sedan, introduced a new charging network for Model S drivers that uses solar energy, and is in the process of planning new models. But, Tesla is showing some signs of setbacks of becoming an automaker. In a recent Securities and Exchange Commission filing, Tesla has downgraded their full-year revenue forecast from $550 - $600 million to $400 - $440 million. "We have methodically increased our Model S production a

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