Tesla Model S Buyback Offer Builds in Used Car Revenue Boost (BusinessWeek)
Tesla Motors Inc (NASDAQ:TSLA)’s gamble to buy back Model S electric cars from customers using its lease-style option has potential to generate further revenue when the automaker sells used cars, according to Bloomberg Industries. The plan gives Tesla, which sells electric sedans exclusively through its own stores, more control over used vehicle resale prices than traditional automakers, said Kevin Tynan, a Bloomberg Industries analyst. Used Model S sales may generate as much as $368 million in annual revenue in 2016, or an additional $40 million in annual gross profit, based on Tynan’s analysis.
GM’s Chevrolet to fill void as rival moves upmarket (TimesOfOman)
Chevrolet, a unit of General Motors Company (NYSE:GM), is looking to fill the gap in Europe as its closest rivals move upmarket, the new head of Chevrolet Europe, Thomas Sedran, said on Tuesday. Chevrolet, which Sedran said was the “fourth biggest brand on the planet” with close to 5.0 million sales globally, was only launched in Europe in 2005 and has sold 1.5 million vehicles since then. It suffers from “comparatively low brand-awareness” in the region, Sedran told reporters on the sidelines of the IAA auto show which opens here this week.
Mulally says no plans to leave Ford early (LasVegasSun)
The chief executive of Ford Motor Company (NYSE:F) says he has no plans to leave the company early after reports that he might be tipped to take a leading role at software maker Microsoft Corporation (NASDAQ:MSFT). Ford said last year that Alan Mulally would stay with the company through at least 2014. The 68-year-old on Friday batted aside talk of an early exit, telling reporters in Berlin that “I absolutely personally love serving Ford Motor Company (NYSE:F) and we have no changes planned going forward.” Microsoft said last month that its CEO, Steve Ballmer, would retire next year.
Tesla to Build European Charging Network For E-Cars – Motor Show (WSJ)
Tesla Motors Inc (NASDAQ:TSLA) wants to conquer core European markets by building a comprehensive network of charging stations for electric cars by the end of 2014, the U.S. electric car manufacturer said Tuesday at the Frankfurt Motor Show. The so-called “Supercharge” system is supposed to help sales of its new luxury sedan Tesla Model S, with 20 minutes of charging enough to last for 300 kilometers, Tesla Motors Inc (NASDAQ:TSLA) sales manager Jerome Guillen said. A full charge will last between 370 and 480 kilometers, depending on the model.
General Motors Company : GM Europe President Aiming for Profitability in 2016 (4-Traders)
General Motors Company (NYSE:GM) isn’t planning on closing it loss-making Opel AG unit and is aiming to be profitable in Europe by 2016, the president of General Motors Company (NYSE:GM)’s European operations said Tuesday. Speaking to reporters at the Frankfurt Motor Show, Karl-Thomas Neumann said the unit is sticking to its target of narrowing losses this year, noting that the first half of 2013 had gone well.