Tesla electriccar maker’s shares rocketing ksdk com

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Tesla Motors Electric Cars

Tesla electric-car maker’s rocketing

By Chris Woodyard, Snavely and Nathan Bomey, USA

Shares of electric-car maker soared 6.3% to $93.32 in trading Tuesday after 14.4% Monday. The white-hot streak started the first of May when the company announced its profitable quarter.

Tesla Monday at $87.80 a share, up 57% $55.79 a share Thursday its first-quarter earnings report. April 1, the shares have 146%.

Investors’ latest with the Calif.based electric-car follows a glowing review of its model, the Model S sedan, on from Consumer Reports

Investors are liking what saw in the details of the electric-car maker’s report. The $11 million first-quarter shattered the assumption that no can make money selling numbers of plug-in cars. And posted a 17% gross profit using American workers, in an where 10% is considered outstanding.

There’s a tremendous amount of for this car and this company in which we don’t see here on the side of the continent, said O’Neill, founder of Connecticut-based Hills Research. How far can Tesla go? As far as want to go.

As impressive as its first looked, it’s going to be a road. Tesla’s fortunes are to its only car, the Model S, ranges in price from before tax credits to more $100,000. The car can go 230 to 300 miles on a charge, on the size of the battery.

Consumer Reports . whose are among the most closely in the auto business, called it the car it has tested since 2007, it a score of 99 out of 100.

But Tesla has to it can be consistently profitable with a product that is priced so that most buyers afford it. There are questions, about whether it can keep its books full, or whether the of people who crave electric is limited.

CEO Elon Musk has the affordability problem and said he to create a mass-market Tesla, but it is still three or four away.

Tesla sold 4,900 cars over the first months of the year compared 4,244 Chevrolet Volts and Nissan Leafs over the period. Musk said gross profit margin increase to 25% by the end of the year. In contrast, first-quarter profit margin in America hit 11%, a result both the company and analysts was a sign of strength.

It has many of the of a tech stock, said Anwyl, vice chairman of (Investors) are making a bet on Elon. Street was enamored with the of personality.

Tesla Motors Electric Cars

For the year, Tesla expects to about 21,000 cars, better than its previous of 20,000. And to hear him talk it, Musk hardly sounds about enough orders for his

We haven’t really tried to volume super hard Musk said. I think you to make sure the house is in before you push volume.

But in the plug-in luxury car field is and it could cut Tesla’s volumes.

GM to introduce the Cadillac ELR, a extended-range electric coupe on the same technology as the Volt, in or February, Cadillac spokesman Caldwell said. The Volt at $40,000, meaning the ELR could be in the range.

In addition to cars, Tesla now money by selling zero-emission credits to other automakers. requires automakers selling than 60,000 vehicles a — currently the six largest — to offer zero-emission If they can’t sell of them, or don’t want to, can buy credits from other

Sales from those were $68 million in the first or 12% of Tesla’s revenue.

The state that does not taint results. This success is not subsidized by other car companies, Stanley Young, spokesman for the Air Resources Board. Car manufacturers are not to purchase credits, nor does ARB a price.

Snavely and Bomey write for the Free Press.

Tesla Motors Electric Cars
Tesla Motors Electric Cars
Tesla Motors Electric Cars
Tesla Motors Electric Cars


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