Tag archives for Luxury Cars - Page 4

Tesla vs The New York Times, Round 5

Tesla CEO Elon Musk may have published his “final word” on The New York Times’ review of his company’s Model S electric car, but apparently the finality of his remarks only apply to the written word, as he elaborated on his feelings during a keynote address at the South by Southwest Conference (SXSW) in Texas.

Delivering a speech that touched on everything Musk has his hands in in from space travel to electric vehicles, he referred to the review as a “low-grade ethics violation” and felt that it was not done in good faith. Musk adamantly believes that reporter John Broder purposely misled readers in his Model S review.

SEE ALSO: Elon Musk Publishes Final Note on Tesla vs. New York Times

Over the weekend, Musk said that he regretted providing the data and a rebuttal to Broder’s review to Margaret Sullivan, The New York Times’ public editor before publishing it himself. Sullivan has since published a column stating that Broder took “casual and imprecise” notes but stood behind his integrity – what Musk believes is the important point to the issue.

“I have no problem with negative feedback, nor do I have a problem with critical reviews,” Musk said Saturday. “I have a problem with false reviews.”

[Source: Automotive News]

Discuss this story at Tesla-Buzz.com

By Jason Siu

Tesla Wants Lower Cost Electric Car to Beat Nissan Leaf


Tesla Motors is enjoying new freedom after having repaid the Department of Energy.

What’s next for the small electric car maker? Without government operational covenants in place, CEO Elon Musk is in a newly liberated position. That could mean selling the company, although the 41-year-old executive seems unlikely to do that in any time soon.

Earlier this month, Musk said that he doesn’t anticipate stepping away from the company for “several years,” although he admitted that an acquisition is one of the possible outcomes for Tesla. Despite that, he doesn’t see an automaker buying the brand because it seems too expensive. Instead, he said it would have to be someone from outside the auto industry.

More immediately, he is looking at offering a lower cost car to target a broader market.

“With the Model S, you have a compelling car that’s too expensive for most people,” he said. “And you have the Leaf, which is cheap, but it’s not great. What the world really needs is a great, affordable electric car. I’m not going to let anything go, no matter what people offer, until I complete that mission.”

Musk said in an interview with Bloomberg West that the car will offer abou 200 miles of range and will be priced below $40,000, set to reach consumers in “three to four years.”

But news of future products from the maker has been fragmented at best. Updates on the Model X electric crossover have been hushed — reports earlier this year suggest the car will be delayed until 2014. Instead, recent news emerging from the company has centered on the brand repaying its government loans and announcements about the Model S.

[Source: The Detroit News]

Discuss this story at Tesla-Forums.com

By Luke Vandezande

Tesla Expands Supercharger Locations to East Coast

Tesla Motors has launched its first supercharger stations on the East Coast, expanding its network for Tesla Model S owners looking for a quick charge while on the go.

The new supercharger stations are found in Milford, Connecticut and Newark, Delaware and are designed for Model S owners traveling from Boston to Washington to get free long distance driving.

SEE ALSO: Tesla Supercharger Network Launched for Fast Charging

The expansion of Tesla’s supercharger stations in the Northeast is just the beginning, as the American electric automaker plans to expand to over 100 stations nationwide by 2015. A thirty-minute charge from a supercharger station can give the Model S around a 150-mile range, or approximately three hours of driving time.

Discuss this story at Tesla-Buzz.com

By Jason Siu

Tesla Repays Government Loan Nine Years Early


As expected, Tesla has repaid its government loan nine years early, becoming the first American automaker to have paid back the government.

Originally awarded a loan by the Department of Energy in 2010, Tesla sent over $451.8 million today to repay the full loan with interest. The loan was originally granted as a milestone-based loan and as part of the Advanced Technology Vehicle Manufacturing program.

SEE ALSO: Tesla Aims to Repay Government by Wednesday

The payment made used a portion of the approximately $1 billion raised in Tesla’s offering of common stock and convertible senior notes. Elon Musk, Tesla CEO and co-founder, purchased $100 million of common equity.

“I would like to thank the Department of Energy and the members of Congress and their staffs that worked hard to create the ATVM program, and particularly the American taxpayer from whom these funds originate,” Musk said. “I hope we did you proud.”

Discuss this story at Tesla-Forums.com

By Jason Siu

Tesla Aims to Repay Government by Wednesday


Elon Musk, Tesla’s ever enigmatic CEO, announced over Twitter that the company will likely repay its government debt by Wednesday, May 22. 

“Given govt loan repayment this week (prob Wed), Supercharger update will be next week. Work continuing independent of announcement,” Musk said through his Twitter account yesterday.

SEE ALSO: Tesla Offers $450M in Stocks, Musk Buys $100M Worth

A Tesla spokeswoman confirmed to Reuters that he was referring to repaying the Department of Energy loan.

Last week the company announced that it would use $452.4 million from a bond and stock offering to repay the loan in full with interest.

Discuss this story at Tesla-Forums.com

By Luke Vandezande

Top 10 Most Collectible Cars of 2013

10. Ford Focus ST

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Interested in nabbing yourself a future collectible? Hagerty Insurance specializes in classic cars and is predicting the top 10 most collectible cars of 2013 that are under $100,000.

Listed based on the vehicle’s MSRP, the Ford Focus ST kicks off the list in the number-10 spot with a starting price of $23,700. Powered by a 2.0-liter, turbocharged engine with 252 hp and 270 lb-ft of torque, the American automaker’s hot hatch is an undeniable bargain at under $25,000. Hagerty believes its performance and price will make it an attractive collectible in years to come.

SEE ALSO: 2013 Ford Focus ST Review – Video

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By Jason Siu

Tesla Makes First Profit: $11M in Q1 2013


Tesla has formally announced its first quarter 2013 results, reaching profitability for the first time in the American electric automaker’s 10-year history.

According to the report, Tesla generated a profit of $15 million excluding non-cash warrant and stock option items. Its GAAP profit was $11 million, and a total of 4,900 vehicles were delivered in the first quarter of 2013.

SEE ALSO: Tesla Talking with Google About Autopilot Systems

The numbers are impressive for the electric automaker, with record sales of $562 million, up 83 percent from last quarter. Over 5,000 Model S cars were produced during the first quarter, undoubtedly contributing to the successful sales figures. The automaker recognized 4,900 units as revenue and exceeded its Q1 guidance of 4,500.

Looking into the future, Tesla hopes to build 5,000 Model S vehicles in the second quarter with some being exported to Europe starting in Q3. North America will see around 4,500 Model S vehicles delivered in Q2 while the automaker ramps up production in hopes of exceeding 20,000 deliveries by year’s end.

Discuss this story at Tesla-Buzz.com

By Jason Siu

Top 10 Most Fuel Efficient Luxury Cars

10. (TIE) 3-Series Hybrid, Mercedes E400 Hybrid, Infiniti M35h, Buick LaCrosse/Regal eAssist: 29 mpg

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Who is to say that luxury car buyers aren’t affected by high gas prices? If you want to drive in comfort, style, and have the latest high tech goodies in a car, you shouldn’t have to pay more at the pump for it. Here are our picks for the top 10 most fuel friendly luxury cars, ranked in order of their combined city/highway mpg numbers.

Quite a few luxury cars hit the 29 mpg mark combined. The most impressive of the bunch is the Buick LaCrosse, which manage to get solid fuel economy, despite its bigger size. The Infiniti, Mercedes and BMW vehicles make do with a high-power pairing of a six-cylinder engine and an electric motor, which gives the end result of over 300-hp.

The Buicks use a mild hybrid system called eAssist which pairs a 2.4L four-cylinder engine with a conventional automatic, and a compact lithium ion battery to get its impressive fuel economy numbers.

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By Sami Haj-Assaad

Tesla Roadster Buyback Program Launched

Early adopters of the Tesla Roadster who may now be eyeing the American automaker’s more practical Model S can now trade in their convertible sports car towards a new sedan.

Tesla will buyback old Roadsters from current owners and resell them at its own stores, giving others an opportunity to own the electric convertible. Only 2,500 Roadsters were made since it first hit the market in 2008 and used ones will be much cheaper than the original $109,000 price.

The trade-in value for the Roadster will be based on its condition after the automaker takes a detailed look at the used vehicle. Though Tesla hasn’t released what it expects to buy back the vehicles for, it did estimate that a 2010 Roadster with around 2,900 miles will be resold for $93,500; while a 2008 model with 31,000 miles will be around $73,300.

Even better news though is that some Roadster owners may actually get money back if their vehicle is valued higher than the Model S they’re opting for.

“Someone who couldn’t reach all the way to a Roadster before, now may be able to get one at a lower price,” said Tom vonReichbauer, Tesla’s director of finance. “We’re able to set what I think are pretty competitive prices for these cars.”

[Source: SF Gate]

By Jason Siu