Tag archives for 2013 model s

Tesla Model S Sales Pass Chevy Volt and Nissan Leaf

2013 Tesla Model S CAPTIONS ON | OFF

The little car company that could, Tesla Motors Inc., is now the domestic leader in electric car sales. The Model S recently surpassed sales of the Chevrolet Volt, a vehicle that led regional sales of rechargeable cars in 2012. This news is an undeniable blow to General Motors, though representatives for the Detroit based automaker remain optimistic.

“Any success for a company in this space is helpful for all other makers of plug-in vehicles,” said Jim Cain, a General Motors spokesman. “The single most important thing we can do for plug-ins, to encourage sales, is to have them on the road.”

The sales ranking for the Model S coincides with Tesla saying it would report a first-quarter profit, the first in its ten-year history. When it releases first quarter results, Tesla expects 4,750 deliveries of the electric Models S in North America – compared to GM’s 4,421 sales of the Chevy Volt. The all-electric Nissan Leaf also expects smaller sales figures.

Despite its high base price ($69,900) and its exclusivity in North America, the Model S has been extraordinarily successful and is a critical darling. Always attempting to outdo itself, Tesla has pledged to sell over 20,000 vehicles this year.

GM sold about 30,000 of their respective rechargeable models worldwide last year, but has declined sharing its volume-targets for 2013.

At the North American International Auto Show in January, retired GM executive Bob Lutz spoke with a hologram of inventor Thomas Edison, who was the former employer and later adversary of Nikola Tesla. Edison was revered for generations while Tesla faded into obscurity, despite the fact that cities abandoned Edison’s dangerous direct current electricity system in favor of Tesla’s safer alternating current system.

Perhaps Tesla Motors success is history’s vindication for the brilliant, but ill-fated engineer, or perhaps Tesla Motors just created a better product. Either way, it’s clear to GM that Tesla Motors is more than a novelty – it’s serious competition.

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By Jessica Matsumoto

Tesla Repays $465 Million Government Loan Ahead of Schedule

2013 Tesla Model S CAPTIONS ON | OFF

In the biggest win for the Obama administration’s plan to fund alternative fuel technologies, Tesla Motors today paid off the final $451.8 million in their government loan – nine years ahead of schedule. What does this mean for the future of government funding and the EV industry in the future?

“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,” said Tesla CEO Elon Musk. “I hope we did you proud.”

Tesla also made smaller payments in 2012 and earlier this year, fulfilling the entire $465 million loan entirely with today’s payment. The electric automaker is riding a wave of momentum, as its stock price rocketed after posting their first quarterly profit and receiving a 99/100 score from Consumer Report on their new Model S sedan.

The success of Tesla is due to many factors, especially when compared to recent failures like that of Fisker and Coda. For one, Tesla has the private backing of Musk, who pumped hundreds of millions of his own money into the company during rough times. For another, the Model S has been a massive hit since its release last summer. But vehicle sales alone have not been enough to offset the massive costs of auto production.

Several shrewd business moves proved to take Tesla to the top, from outfitting an old Toyota plant to produce cars rather than buying and building a brand new facility, to a partnership with companies like Mercedes-Benz to develop and sell battery component for use in their future cars.

Tesla seems to be on solid ground for the first time in its ten-year history, thanks to sounds business decisions and, yes, a quality product. Past disasters may have cooled government loans for the time being, but Telsa proves that investing in the right company can go a long way. Their place in the industry now solidified, we have a bright future ahead that includes not only Tesla vehicles, but other brands making better cars thanks to their work.

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Visit theautoMedia.comTesla Research Centerfor quick access to reviews, pricing, photos, mpg and more. Make sure to followautoMedia.comonTwitterandFacebook.

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By Ryan ZumMallen