Tag archives for Fisker
What cocktails go best with all this car chatter? Automobilemag.com is here to help with weekly recipes. Remember, this is for talking about cars, not driving — always designate a driver. With the arrival of warmer weather in most of the country, we’re celebrating the spring-like weather with associate web editor Donny Nordlicht’s favorite drink: the sky-blue-colored Aviation. Combine two ounces of gin with half an ounce each of lemon juice and maraschino liqueur and a quarter ounce of crème de violette in a shaker filled with ice. Shake well, strain into a cocktail glass, and garnish with a cherry.
Not Gonna Happen: You might scoff if I told you I expected to earn eight times my current salary by 2015. Even if I told you I was starting two extra jobs, you would probably think it overly optimistic to expect to increase my salary by such a large amount in just two years. Imagine my skepticism, then, when Maserati says it will sell 50,000 cars worldwide by 2015. For reference, the Italian brand delivered just 6307 new cars in all of 2012, an eighth of what it plans to shift by mid-decade.
Maserati believes it can octuple its annual sales volume by adding the Ghibli (aka a baby Quattroporte) and the Levante SUV to the just-released Quattroporte. But given that the Ghibli doesn’t go on sale until later this year, and the Levante might not reach showrooms until next year or later, it’s hard to believe Maserati can pick up 43,693 extra sales so quickly. Even once the Ghibli and Levante launch, is there really such a large market for Italian luxury cars? Only if hordes of buyers ditch their Audis, BMWs, Jaguars, and Mercedes-Benzes for the new Maseratis — and that isn’t likely to happen on such a short timetable.
Jake Holmes, Associate Web Editor
Racing Roadtrip: Between last weekend’s final rounds of NCAA basketball, what could have been better than putting 750 miles on a 2014 Mazda CX-5? As long as I had one to sample, I decided to dash from Southern California to St. George, Utah, and pick up a rug stored for me there. I left before Sunday’s dawn. In the next 370 miles I found the CX-5 to be the friendliest and most agreeable creature since Snowy the terrier in The Adventures of Tintin. Mine was the Touring model equipped with the 2.5-liter four-cylinder that growled playfully when started and proved to have plenty of midrange while barreling up mountainsides. Meanwhile, the vehicle’s solidity and composure yielded delights in every mile.
Supplemental entertainment came from listening to The Art of Racing in the Rain. This touching novel by Garth Stein made the hours vanish. I found myself quibbling with canine narrator Enzo’s ranking of Steve McQueen among his very favorite actors but cheering on when, with gastric revenge in mind, he accepted a bottled pepper from the story’s villain and defiled an area of rich Berber carpeting. The narration ended too soon–just as I’d cleared Sin City on the return leg. I-15 was clogged with traffic from the casinos and Las Vegas Motor Speedway, which had hosted the NHRA. If John Force was in our midst, he was often going 3 mph rather than 300 mph. But the CX-5 was still a delight.
Ronald Ahrens, Contributor
Small World: I’d never driven a 65-series AMG model before, so when handed the keys to a matte grey Mercedes-Benz CL65 AMG on Tuesday, I made sure to chronicle the occasion in photos. The next day, I stumbled on the Twitter and Instagram accounts for one Michael Kubler. (@F1Mike28). Kubler works at AMG in Affalterbach, Germany, where he hand-builds engines — V-12 engines, to be exact. I turned to the photos, and sure enough — Kubler had built the twin-turbocharged, 6.0-liter twelve-cylinder I fell in love with the night prior.
Go figure. Thank you, Michael, for building one of the most amazing engines I’ve ever had the opportunity to sample in a road-going automobile.
A night with the CL65 was amazing, but it wasn’t the high point of the week. That might go to finally having the chance to drive a friend’s 1991 Isuzu Impulse RS, one of roughly 1402 imported to North America before Isuzu stopped building cars outright. Pity all Isuzu’s car products didn’t boast the RS’ turbocharged 16-valve four-banger or its rear-biased AWD system.
As a lover of quirky cars, I’m glad this Impulse still exists — but I’m happier yet that there are still people who care for and about cars like this. I can’t help but feel that many self-professed “car guys” can’t appreciate cars outside of a few select “exotic” or “premiere” brands. Pity, because there are so many other interesting — and, gasp, enjoyable cars — in the automotive spectrum. Ignore, dismiss, or crush them, and you’re destroying history. Need proof? Of those 1402 Impuse RS models shipped to North America, no more than 150 are still on the road today.
Evan McCausland, Associate Web Editor
Getting Kinky: I recently noticed a trend in recent automotive design: the front window kink. This is a little dip in the daylight opening just aft of the A-pillar, often near to the side-view mirror. I first noticed it on the 2014 Cherokee, and began noticing it on the current Toyota Camry and 2014 Highlander, and on the outgoing Kia Forte, among others. Although I generally find the detail to look out of place in every application, if it means the end of slab-sided designs and gun-slit windows, I’ll take it.
Donny Nordlicht, Associate Web Editor
Patrolling in Style: The 5-0 in Dubai just got an upgrade to its fleet — a major upgrade. The Dubai Police recently added a $450,000 Lamborghini Aventador to cruise the streets for crooks. Sure, it’s fast (0 to 60 mph in three seconds), but the article raises the question of practicality: how does one fit a suspect into the backseat?
John Kalmar, Graphic Designer
Give Me Affectation: The Automobile Magazine staff is still arguing over the Camaro Z/28‘s bare-bones interior. To some of us, the lack of a radio and optional air-conditioning delete says, “serious sports car.” Others in this office have, not wrongly, pointed out that such savings cannot possibly make much of a difference in a 3800-pound, 500-hp car and thus amount to little more than pointless posturing.
This got me thinking: how much of what we love about sports cars is mere affectation? It’s easy to make fun of huge spoilers and fake carbon fiber, but how about the manual transmission? It’s almost always slower than a modern dual-clutch automatic, a fact Porsche drove home by kicking the stick-shift out of its hardcore 911 GT3. But while we’re talking about Porsche, what’s the point anymore of the left-hand ignition? Drivers don’t run to their cars at the starting line anymore, and most expensive passenger cars have keyless fobs anyway.
Angry yet? You should be. Race cars are meant to go as fast as possible, and thus must mercilessly dispense with outmoded technology and conventions. But sports cars are not race cars. Sports cars are meant to evoke emotion. So, give me a stick-shift. Give me thousands of gauges that I don’t really need (so long as the important ones are in my direct line of sight). Don’t give me A/C. I’ll sweat it out with a grin on my face.
David Zenlea, Associate Editor
Rough Day: I’m having a rough day, as you can see by this picture. I’m in northeastern Spain driving the new Jaguar F-Type roadster, which goes on sale this spring starting at $69,000. The model pictured here is the F-Type S, which has a 375-hp version of Jaguar’s supercharged 3.0-liter V-6 that’s good for a 4.8-second 0-to-60-mph time and a top speed of 171 mph. It starts at $81,000, while the F-Type V8 S, with 488 hp, will cost $92,000. Jaguar points out that each model of the F-Type is about 25% cheaper than comparable Porsche 911 models. The automaker has high hopes for the F-Type and expects about half of worldwide sales to come from the United States. I’m not allowed to share my driving impressions of the F-Type just yet; check back at Automobilemag.com on Tuesday evening, April 17, when the embargo lifts, for my story.
Joe DeMatio, Deputy Editor
Right Road, Wrong Car: I sampled the 2014 Kia Cadenza this week. The drive route was fantastic leaving the Presidio in San Francisco, crossing the Golden Gate Bridge, and continuing up the lovely Pacific Coast Highway. Although the big sedan handled the tight road better than I had expected, I kept wishing I were on this exact route in my 1992 Miata. Even the Cadenza’s 293 hp was far too much for the slow-moving dump trucks and sedans on the road. My little Miata would have been perfect. Sadly it was 2000 miles away in my garage. Oh well, it looks like Spring might finally be coming to Michigan and I’ll soon be able to enjoy my little roadster on a more regular basis.
Phil Floraday, Senior Web Editor
****tail Chatter: Somebody painted one whale of a willy on the Nürburgring this past weekend. No one has taken responsibility for the novelty-sized phallus, but I’d like to virtually high-five the mystery vandal here and now. Well done, bud(s).
Chris Nelson, Road Test Editor
Charlie Horse: I like the Fiat 500 Abarth but because it’s probably the craziest car you can buy for $25,000. It has a relatively small engine, it makes a lot of noise, and it’s a handful on the track without being outwardly deadly.
While I’m not sure adding an automatic transmission to the Abarth is a good idea–the softer Turbo model is a much better model for a two-pedal setup–I’m sure it should earn a few sales with people who like crazy cars but never learned how to use a clutch. But to say that these tweaks will help the Abarth appeal to more women is suspect. I’m not saying that Fiat North America president Tim Kuniskis is misogynist, but maybe a little shortsighted: the Abarth might not appeal to women as much because it’s marketed either by a topless/blatantly flirtatious Catrinel Menghia or by Charlie Sheen and his questionable ethics. Perhaps it’s time to consider making your Abarth ads a tad more feminist, before retooling your factories?
Ben Timmins, Associate Web Editor
The Politics of Green Cars: Fisker has laid off 75 percent of its workforce with the remaining employees apparently sticking around just to sell off assets and take the company through bankruptcy. Tesla’s Elon Musk appeared before the Texas state legislature this week to argue against the need for franchising his dealerships. Musk, whose Tesla Model S is our 2013 Automobile of the Year, also won a ruling in New York Supreme Court case that allows him to continue selling cars in company owned dealerships (kind of like Apple stores). Judge Raymond J. Elliott III ruled that dealers can’t use the Franchised Dealer Act to sue competitors, and their attempt to do so proves Tesla has value in the open market. Tesla also is paying off its Department of Energy loans ahead of schedule. Fisker, obviously, is not, and we’ll end up about $192 million short thanks to Henrik Fisker’s ill-conceived business plan and poorly built cars. One might say the DOE under President Obama isn’t picking winners and losers; it’s picking both. That hasn’t prevented the Fox News juggernaut from confusing Tesla and Fisker. In a “report” that mentioned Fisker, Bill O’Reilly says “Tesla had $523 million in losses…” not true. And Musk said this week he’s “hurt” that former vice presidential candidate and former Alaska Governor Sarah Palin lumped Tesla in with Fisker. Don’t you wonder how easily O’Reilly and Palin get this confused?
Todd Lassa, Executive Editor
Greg Emmerson of European Car joins the roundtable discussion on this episode of Wide Open Throttle to discuss his recent Head 2 Head comparison of the BMW E30 M3, Scion FR-S, and Volkswagen GTI. Jessi Lang, Jonny Lieberman, Angus MacKenzie, and Ron Kiino also discuss the crowded entry-luxury segment as well as the future of new and existing electric vehicle manufacturers.
Despite the classic BMW’s high cost of entry when it was new and similar performance to the more affordable FR-S, Emmerson defends the E30 M3 and GTI against the rear-drive Scion sports car. Next, the conversation moves to the entry-luxury market with Scion and Mazda wanting to move up and Mercedes-Benz and Audi strengthening their entry-level presence with the CLA and A3 four-doors. After talking about Scion’s original purpose of bringing younger buyers into the Toyota fold and then move them into Toyota and Lexus products, Lieberman questions how the youth brand can move upmarket. The panel then debates what constitutes luxury.
Just a day after Fisker executives were questioned by a government committee about the company’s $529 million loan, the latest Wide Open Throttle video crew discuss the fate of struggling Fisker, profitable Tesla, and newcomer Detroit Electric. Emmerson notes that BMW will soon introduce the i3 and i8 electric vehicles, and wonders how it will affect other mainstream brands as well as the newer EV makers.
Check out the video below to hear the full discussion.
By Jason Udy
Taste is a fickle thing. What’s cool today is lame tomorrow. Few things vex automakers more than this aspect of human nature, because new and even updated cars can take years to reach showrooms while the instant gratification generation loses interest. The following are perfect examples of the trouble automakers find themselves in.
These vehicles are as much rumor as they are fact. They’ve been rumored, alluded to, teased, promised, and delayed more times than we can recall, and have achieved a nearly mythical status that often evokes guffaws and cries of “I’ll believe it when I see it” from our staff. Whether the pet project of an executive, the demand of a vocal group of hardcore fans, or a technology that just isn’t viable yet, all of these vehicles have managed to hang around in limbo for years, feeding fans’ hopes and driving everyone else nuts. In no particular order, we present 10 of the longest-running broken promises in the automotive industry today.
Tesla Model S
After a string of high-profile growing pains, things have gone quiet over at Tesla. The company is working furiously to get its Model S electric sedan (pictured above) to showrooms by 2012. This might not seem like an unrealistic goal, until you consider the fact that Tesla doesn’t even have a factory to build the car in yet. The company is rumored to be deciding between three empty factories in the Los Angeles area that it would have to retrofit before ever beginning production, a process that’s estimated to require nearly two years working around the clock. Add to that the fact that the company hasn’t yet revealed a production-intent model of the car, and it’s not hard to believe that the Model S will miss its big dance number.
Mahindra & Mahindra Pickup
Though known globally for its rugged, inexpensive small trucks and SUVs, India’s Mahindra & Mahindra is completely unknown in the U.S. and looks to stay that way for a while. The company has been promising to bring its diesel pickup here since 2007 with tentative launch dates in 2009 continually pushed back. We hear now that the company is hoping to get trucks in dealers by December, but we’re not holding our breath, since we heard the same thing this time last year. We can only hope for the best for the shuttered Chrysler dealers who signed on as Mahindra dealers and are still awaiting product.
Global Ford Ranger
There’s nothing particularly wrong with the current Ford Ranger. It’s just ancient. The current model has been on the road more than a decade with only minor updates, and is long overdue for a replacement. When we’ll get one, though, is anybody’s guess. Global markets have had updated Rangers for years and we’ve spotted the latest redesign out testing more times than we can count. While it’s obvious that Ford is working on a new Ranger, we have no idea when it will actually see our showrooms, if ever. Of course, if the F-100 project rises from the dead, we may never see the next Ranger, but at this point we’re not sure which of those scenarios is less likely.
The world’s cheapest car costs the rough equivalent of $2000, and if Indian manufacturing powerhouse Tata has its way, you’ll see one in the U.S. Of course, for that to happen, Tata will need to catch up with Indian market demand first. Delays, cost overruns, and the relocation of the primary factory all put the Nano behind schedule, but it’s finally on the streets of India, glued-on rear hatch and all. And it’s catching fire. Tata’s got a recall out for some faulty wiring that’s led to several car fires, and even without that issue there’s serious concern that the little bean-shaped car wouldn’t meet U.S. crash standards anyway.
Re-Badged Ram Pickup
First it was Nissan that wanted in on the Ram pickup’s act. Building the Titan in-house wasn’t especially cost-effective for Nissan considering its low volume, so Nissan made a deal with Chrysler to build a new Titan that would essentially be a re-skinned and re-badged Ram. The project was on and off for some time until Chrysler entered bankruptcy and put the kibosh on the whole affair. With Nissan out of the way, word has it that Hyundai is sniffing around Auburn Hills looking for a Ram with a shiny Hyundai badge on it. Chrysler reportedly said no to that request, but it doesn’t matter since Hyundai’s issued an official press release denying any pickup plans for the “foreseeable future.” Nissan, meanwhile, has decided to press on with the Titan on its own.
GM RWD Large Car
We can probably thank former VP of Awesome Bob Lutz for this one, along with his replacement Mark Reuss. Both are big proponents of Holden and the work they’ve been doing down under, particularly on the Zeta large passenger car platform. After the Aussie-based Pontiac GTO flopped, they tried again with the Zeta-based Pontiac G8 only to see the brand put out to pasture. Still, they did get the Chevrolet Camaro built on the Zeta platform, but it’s said to be migrating to another platform with its first redesign. With the G8 gone, rumors continue to fly around GM fan sites of RWD Impalas, Buicks, and other large GM cars. Lutz fanned the flames before his departure, but now that he’s left the building, we’re not holding our breath.
Porsche/Volkswagen Small Roadster
A few years back, Volkswagen unveiled the surprisingly cool Concept BlueSport Roadster, a diesel-powered, mid-engine, two-seat sports car that promised a happy compromise between fuel efficiency and sportiness. Most everyone loved the idea, but it didn’t get enough love from VW brass to hit the streets. Then the whole Porsche/Volkswagen takeover debacle occurred, and suddenly there were rumors of a joint project between the companies, a la the old Porsche/Volkswagen 914. Word has it Porsche is looking for a new entry-level car below the Boxster, and sharing it with Volkswagen would seriously curtail the bill. The car’s been stuck in rumor phase ever since, and we don’t see it coming out any time soon.
A Viable Hydrogen-Powered Car
Sure, GM and Honda have built small fleets of hydrogen fuel-cell cars, and Mazda’s tricked a couple of its cars into burning the stuff straight up, but none of them has much of a prayer of mass production. Hydrogen remains expensive to harvest, volatile to store and use, and lacks anything even resembling a refueling infrastructure that could be used by more than a handful of enthusiastic early adopters in Southern California. Though the technology is impressive, it’s likely to be forgotten as battery-powered and range-extended cars like the Chevrolet Volt take to the market, what with their ability to take advantage of the massive electrical infrastructure in the U.S.
Any Car from a Chinese Automaker
China has dozens upon dozens of automakers in its home market, but only a few have a shot at becoming real powerhouses like their international brethren. The frontrunners, in a bid to expand their reach into what is now the second-largest car market in the world, have all declared they’ll bring their cars to the U.S., and soon. Geely, Chery, and BYD have all made and broken this promise more times than we care to recall, and they show no signs of slowing down. BYD even shows up in Detroit every year promising to bring its cars to our shores in the near future. While we don’t doubt that a Chinese car will someday be offered in the U.S. market, we aren’t planning any comparison tests yet.
The Entire Alfa Romeo Lineup
After an embarrassing withdrawal from the U.S. market in 1995, Alfa fans have pined over the possibility of a reintroduction. The legendary Italian automaker teased us with a small number of 8C Competizione supercars a few years back, but ever since the promise of Alfa’s triumphant return has been a string of broken promises. Things looked bleak until last year when Fiat, Alfa’s parent company, took control of bankrupt Chrysler. Alfa’s back! Or is it? The brand’s return has continued to fluctuate ever since the merger and its status has changed twice already in 2010 alone. For now, the plan is to have Alfas in U.S. showrooms in 2012, but we expect that story to change a few more times before then.
Toyota/Subaru FT-86, Carbon E7, Dodge Viper replacement, Chevrolet Camaro Z/28, Fisker Karma, Hummer H4, Dodge Hornet/subcompact car and nearly every electric car start-up and cottage supercar-maker out there.
By Scott Evans
We’ve all seen televised classic car auctions where a one-owner piece of vintage iron fetches six-digit sums, and we’ve all wondered the same thing, “How did that guy know his car was going to be a classic one day?” Not long after, you probably looked at what’s in your driveway, and wondered, “Will my car ever become a classic?” Being car guys (and girls), we often wonder the same thing – what modern cars might become future classics? We’ve compiled a list of the top 10 new cars that we think might one day be collectible.
So what in our minds makes a car a future classic? Three things: Significance to either the automaker or industry, rarity (which very well may leave a few significant cars off this list), and styling with staying power – because who wants to own an ugly classic car? Also (with one exception) the vehicles in question have to currently be on sale. With that in mind, here are our Top 10 New Car Future Classics:
BMW M3: We believe the E90-series M3 might become a future collectible for a few reasons. For starters, this generation of M3 represents the end of an era for the storied M Car. BMW’s M cars have always been known for their high-revving naturally aspirated engines. Unfortunately, the future of the M car lies with the turbocharger, which means the M3′s rev-happy 414-hp, 295-lb-ft 4.0-liter V-8 could be the last naturally aspirated M motor to ever be built. Because of that, the M3 will likely become a prize for future BMW collectors.
Cadillac CTS-V Wagon: This is the car that many thought GM didn’t have the cojones to build: a Nürburgring-slaying station wagon packing a supercharged 6.2-liter V-8 producing 556 hp and 551 lb-ft of torque, driving the rear wheels through a proper six-speed manual transmission. The CTS-V Wagon has a couple things going for it on the collectible front: it’s a niche product so not many exist (relatively speaking), it’s expensive, which keeps it out of the hands of its mostly young fans, and it’s truly stunning to look at. The CTS-V Wagon very well may be a blockbuster at Barrett-Jackson auctions in the distant future.
Chevrolet Corvette ZR1: Like the C4 Corvette ZR-1 before it, the C6 Chevrolet Corvette ZR1 is bound to become a collectible This Corvette represents the best of the C6 ‘Vettes, and is easily among the best Corvettes ever made. The ZR1 is guaranteed collectible status thanks to the stories behind it: this is the first Corvette to crack 200 mph and the first to cost over $100,000. It’s also a world beater, having gone up against the best Europe and Asia has to offer, like the Ferrari 599 GTB Fiorano and Nissan GT-R. So why will the Corvette ZR1 be a future classic? Because America.
Fisker Karma: Likely to be a controversial choice, the Fisker Karma nonetheless easily meets the criteria to be a future collectible. The Karma is significant to Fisker and the automotive industry because the Karma is not only the first vehicle Fisker has ever built, but it’s also the first luxury extended-range electric vehicle. The Karma’s got rarity too, especially considering all of the production delays that were necessary for Fisker to recall all of its vehicles. Lastly, the Karma is a striking automobile to look at, and it’ll likely look just as good as it does today 20 or 30 years from now.
Ford Shelby GT500: What could be more significant than being both the most powerful factory Mustang ever and the first Mustang with a 200-mph top speed? Simple: Carroll Shelby. The 2013 Ford Shelby GT500 is the last factory Shelby Mustang that the dearly departed Shelby ever worked on. Because of that connection, the car’s big 5.8-liter 662-hp supercharged V-8, and the ridiculous top speed, the Shelby GT500 is most certainly on its way to becoming a collectible.
Mitsubishi Lancer Evolution X: Like the BMW M3, the current-generation Mitsubishi Lancer Evolution X will likely be remembered as the end of an era. While its Subaru rival will continue on into its next generation, the Evo X marks the end of the Evo as we know it. Mitsubishi reportedly wants to go in another direction with the Evo XI – a direction that ditches the all-wheel-drive rally rocket’s turbocharged 2.0-liter I-4 in favor of a plug-in hybrid setup. Will it be able to live up to the Evo name? Only time will tell, but if Mitsubishi does go that route, the current Evo X may very well become a prized collectible.
Nissan GT-R: What can we say about Godzilla that hasn’t already been said? Not only is the Nissan GT-R highly desirable, but it’s an incredibly important car for Nissan. The R35 GT-R is significant because it’s the first GT-R to ever be legally sold in the U.S., and it’s taken the segment by storm, frequently finishing on the podium in our Best Driver’s Car competitions. Despite its relatively low price, Godzilla remains a rarity on the streets, and though it has love-it-or-hate-it styling, the GT-R will without a doubt remain desirable in the future.
Saab 9-5: As mentioned above, the Saab 9-5 is the sole exception to the on-sale now rule, because while you can’t buy one new now, you could still buy a brand new 9-5 up until the Swedish automaker declared bankruptcy in January of this year. The 9-5 earns its spot on the future collectible list because it was the last new Saab car introduced. It may have had quite a few components from the GM parts bin, but the 9-5 was still the last true Saab. It was great to look at, full of quirky Swedish charm, and actually fun to drive. The 9-5 was the last Saab, and perhaps one of the best, which makes it a future collectible in our book.
SRT Viper GTS Launch Edition: The 2013 SRT Viper GTS Launch Edition marks the return of the other American sports car icon. To celebrate the Viper’s rebirth, SRT created the limited-edition Viper GTS Launch Edition (Rarity? Check). Powered by a reworked 8.4-liter V-10 cranking out 640 hp, the Launch Edition comes wearing the stunning blue and white stripe paint job that helped make the original Viper GTS famous (Styling? Check). Finally, checking off the significance box is the fact that the new Viper is the first SRT-branded vehicle ever, giving it that special something that collectors will most certainly love decades from now.
Tesla Model S Signature Performance: The Tesla Model S is not only significant to Tesla as its first mass-market vehicle, but it’s significant to the industry as a whole as the first all-electric car that actually works for most Americans’ needs. The Model S Signature Performance is being built in a limited run of just 1000 examples. Making the Model S Signature Performance even more enticing is its world-beating performance, which allows the EV to smoke its gas-powered European rivals on the drag strip. The stunningly handsome Model S is a technological marvel that’s sure to be just as impressive sitting pretty on the auction block in the coming decades.
Do you agree with our list? Which cars would you have added and/or left off? Sound off in the comments below.
CAPTIONS ON | OFF
Electric automaker Tesla Motors pleased investors Wednesday, announcing that their heavily-anticipated Model S sedan will begin delivery this June. It had previously been schedule for July deliveries. Tesla will begin delivering the first Model S sedans as soon as the car passes government crash testing in the coming weeks.
The news boosted Tesla stock by as much as 13% at one point Thursday.
More than 10,000 customers have placed reservations for the Model S, and Tesla expects to deliver about 5,000 of the cars in 2012. Each reservation costs $5,000 (the Model S Signature Performance reservation costs $40,000). Tesla says all reservations are refundable, and you can click here to configure one of your own.
Tesla embarks on its most important launch ever during a shaky time for electric automakers.
Fellow American electric automaker Fisker began delivering their electric-hybrid Karma last year, and plan to build a new SUV model, the Atlantic, soon. Despite a sales rush for the Karma, however, Fisker has hit a bumpy patch financially. They recently fired twelve workersfrom their Delaware plant, where they had released 26 employees earlier. Now, they’ve had a $529 million federal grant suspended and adjusted 2012 sales projections from 15,000 to 10,000.
Tesla knows Fisker’s pain. Their first model, the Lotus-based Roadster, was a performance success but nearly sank the young company financially. After a personal loan from CEO Elon Musk, it still took hundreds of millions in Department of Energy grants and heavy investment from Daimler just to bring the Model S to production.
The Model S figures to be another on-road superstar. The base Model S, powered by 40 kWh batteries, is expected to reach 0-60 mph in 5.6 seconds with a charged range of 300 miles. A 60 kWh battery setup is also available, and the 85 kWh drivetrain could be as fast as 4.4 seconds from 0-60 mph.
But Model S delivery hardly means Tesla is in the financial clear. The company reported a $89.9 million net loss in Q1 2012, compared to a $48.9 million loss in the same period 2011. Revenue fell to $30.2 million, down from $49 million in 2011. The figures are largely based on the fact that sales of the Roadster recently finished.
Tesla expects that about 90% of the year’s revenue will come from Model S sales, and the decision to move deliveries up to June prompted them to adjust their 2012 revenue outlook. Tesla boosted their prediction from $550 million to $560-600 million.
Unlike the Roadster, the Model S is Tesla-made from the ground up, and will serve as a barometer for the health of Tesla in the future.