Tesla Manages To Make A Profit In 2013 (EmpoweredNews)
The auto industry is for the first time in a decade considering the electric car company Tesla Motors Inc (NASDAQ:TSLA) a real innovator after a successful 2013 that showed how the once disconsidered brand can become a real threat. The reaction is pretty late and reminds of how big brands are often to slow to react to innovation and change, a flaw that leads to unexpected drops in sales. While General Motors Company (NYSE:GM) admitted early on that Tesla was a big source of inspiration and a direct influence on their Volt model, no real decision were taken at the time, leaving the new CEO Dan Akerson, who joined General Motors Company (NYSE:GM) in 2010 and has been trying to bring new ways of doing business to the struggling brand, to form a team that will study Tesla and their innovations from now on.
Tesla’s Chinese Wall (EEO)
The American electric car manufacturer Tesla Motors Inc (NASDAQ:TSLA) has plans to enter China by the end of the year, but that might be little more than a fantasy. According to Tesla Vice President George Blankenship, the company plans to open 25 new specialty stores in 2013, one of which will be in China. In fact, the brand has already rented floor space at the Beijing Parkview Green Shopping Center in busy a part of the capital. The 800-square meter location would be its largest in the world. However, Tesla seems to have overestimated the speed with which it could drive through China’s approval process. And even if it gets approval, a trademark dispute and heavy taxes could slow its entry to a crawl.
Tesla redlining (NYPost)
There appears to be no speed limits on Elon Musk’s Tesla Motors Inc (NASDAQ:TSLA). The electric carmaker revved to a projected price-earnings ratio of 260 yesterday and its share price at midday hit $173 — a nearly fivefold increase this year. And you thought the 416 horsepower engine on its Model S had some giddyap. The soaring stock is raising eyebrows on and off Wall Street. While the innovative startup expects to sell an impressive 30,000 cars worldwide next year and it turned a profit six months ahead of schedule, its $21 billion market cap is almost half that of GM’s $48 billion — and General Motors Company (NYSE:GM) sold 3 million vehicles last year in North America alone.
Tesla Motors’ market value exceeds $20B (TribLive)
Tesla Motors Inc (NASDAQ:TSLA)’s market value topped $20 billion in intraday trading on investor optimism that Elon Musk can keep widening the appeal of electric-powered cars as the company’s sales increase. The stock climbed 1.5 percent to close at a record $164.22 in New York, after climbing as much as 6.9 percent to an intraday high of $173. Shares of the Palo Alto, Calif.-based company, which had its initial public offering in 2010, have surged nearly fivefold this year. The 10-year-old auto-maker named for inventor Nikola Tesla intends to deliver 21,000 of its flagship Model S electric sedans this year and double that in 2014.