Category Archives: News

Tesla’s Net Loss Widens, But Company Expects Revenue to Increase Dramatically in 2012

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Tesla Model S

Tesla Motors projects that its revenue will increase in the second half of 2012 as production and sales of the Tesla Model S are expected to outpace the automaker’s now-extinct Roadster. Though the carmaker lost money last year, CEO Elon Musk told reporters last week that his company is fully capitalized and ready to meet its production goals without raising any additional funds.

Late last week, Tesla announced that its fourth-quarter net loss widened to $81.5 million, compared to $51.4 million in the fourth quarter of 2010. Still, the company’s annual revenue beat the street’s predictions. The automaker reported annual net revenue of $204.2 million in 2011, where analysts had projected $203.5 million. That’s nearly a 75-percent increase over Tesla’s reported annual revenue of $116.7 million in 2010.

Tesla attributes last year’s losses to nearly $200 million in capital expenditures, which were spent readying the carmaker’s Fremont, California production facility to build the Model S. Tesla now predicts that annual revenue for 2012 may soar to $600 million, with 90 percent of the money expected to come in the second half of the year, when the Model S goes on sale.

During a conference call, Tesla chief executive officer, Elon Musk, stated “The bulk of 2012 revenue is Model S-related.” Tesla aims to sell up to 5,000 Model S electric sedans by the end of 2012. But until Model S deliveries commence, Tesla’s main revenue source is supply deals with Toyota and Daimler.

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Toyota Teases FT-Bh Concept Hybrid

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By Jeff Cobb

Toyota-FT-Bh

Toyota wants you to mark the date: March 6 is when it will reveal the FT-Bh Concept, a mini hybrid car that saves production expense with lower cost materials and helps save the environment with emissions that are 50-percent lower than other cars in its segment.

Shunning costlier materials like carbon fiber which competitors such as Audi and BMW have added to their mini cars, Toyota says it makes use of economical production methods to make small, cute and green also more affordable.

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Customers paying more for Hyundai Elantra than Honda Civic, Toyota Corolla

Posted on by Jonathon Ramsey

Filed under: , , ,

2012 Hyundai Elantra front three-quarter view

According to research by Edmunds.com, the $19,711 average transaction price of the 2012 Hyundai Elantra is besting that of its chief rivals, the Toyota Corolla by $1,500 and the new Honda Civic by $500. The great big cherry on top of that sundae for Hyundai? Elantra sales were up more than 40 percent last year.

The sales success of the Elantra wasn’t much of a surprise even before the car went on sale, the transaction-price story is an eye-opener. We don’t have a breakdown on model mix, but a base Elantra with a six-speed manual is $17,220 and the Limited is $21,320 (both prices include $725 destination). The Elantra’s small-money options, like an iPod connector, match those of the competition, and even its three upmarket packages, two for the GLS and one for the Limited, contain features mostly available on the Corolla or Civic.

Point being, the Elantra doesn’t have a single killer app to explain its position. But all of its touches – one extra gear on the manual, two extra on the automatic, its newness and its design, its competitive gas mileage and its rearview camera that can’t be had on the competition, for instance, appear to be the cause. There’s also the fact that dealers don’t have to put much (if anything) on the hood since the factory still can’t make enough of them to satisfy demand.

Nor is this only a tale of the Elantra; the Sonata has narrowed its average transaction price to within $900 of both Honda Accord and Toyota Camry. And according to Hyundai CEO John Krafcik, we aren’t anywhere near the end of the company’s aspirations: “We’re in the middle of a very long journey.” Indeed, even new Elantra itself hasn’t reached top speed yet – a new Coupe and five-door GT are on the way to round out the family for 2013.

Customers paying more for Hyundai Elantra than Honda Civic, Toyota Corolla originally appeared on Autoblog on Wed, 22 Feb 2012 14:01:00 EST. Please see our terms for use of feeds.

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Lamborghini Palm Beach presents the 2012 Gallardo

Posted on by Staff

As we dropped into the back stretch on lap 4, I knew this would be the moment. Strapped into a screaming yellow 2012 Lamborghini Gallardo LP 570-4 Superleggera, it was finally my turn to pass one of the other track cars and catch up to the lead pace Lambo. Following the pace car were me [...]

General Motors Blog Rebuts Critics With Humor Plus Facts

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By Jeff Cobb

btw

Since receiving federally underwritten help through bankruptcy, and developing the extended-range electric Chevy Volt, GM has for the most part turned the other cheek to a cottage industry of critics, but that may be changing somewhat.

The company’s head of communications, Selim Bingol has launched a new blog which attempts to correct erroneous critical commentators GM has said are politically motivated.

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Coming Soon: Harley Davidson 72 and Softail Slim Review

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THE NEW SEVENTY-TWO from benedict campbell on Vimeo. Last week we published an overview of Harley Davidson’s newest bikes, the 72 and the Softail Slim. This week, Bullz-Eye.com will be joining Harley Davidson in Miami to review both of them in person. Make sure to follow us on Twitter @bullzeyedotcom to get up to the [...]

BMW i8 Spy Photo Reveals Unusual Doors

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By Jeff Cobb

BMW-i8-doors

BMW’s plug-in hybrid i8 looks like it will feature innovative doors suitable for the avant-garde car, according to spy photos borrowed from our sister publication, AutoGuide.

The main difference looks like hinge placement, which allows the doors to open upwards and twist which should ensure they are fully out of the way upon entering and exiting the vehicle.

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Yo-Auto Announces Another Hybrid Factory

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By Jeff Cobb

YoAuto610Yo-Auto Yo-Mobile.

With the first sale of his Russian Yo-Mobile hybrid car due in December this year, billionaire Mikhail Prokhorov said he will invest in a new assembly line for his inexpensive “peoples’ cars.”

“The next Yo-mobile plant must be built in the Far East to develop local innovation production,” Prokhorov said at a press conference in Russia.

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Watch as Hot Rod goes from El Paso to LA the hard way

Posted on by Zach Bowman

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Hot Rod Roadkill Catalina

There are few things simultaneously more romantic and idiotic than taking a road trip in a beaten-down heap of a car. Trust us. We know. David Freiburger and Mike Finnegan of Hot Rod Magazine fame recently undertook an epic trip from El Paso, Texas to Los Angeles with the express goal of doing so for under $1,500, including the purchase price of a vehicle, food, lodging, repairs and, most importantly, fuel. With this in mind, the duo settled on a 1972 Pontiac Catalina for a lofty $650. Hilarity ensues.

Realizing that no one actually wants a Catalina sulking around the shop, Freiburger and Finnegan put the car up for auction on eBay Motors the instant they had the title in hand. By the time they rolled into Hot Rod HQ, the vehicle sold for a little over $500.

The video is part of a new series called Roadkill that should document similar adventures. Keep your eyes peeled for more calamity-soaked clips in the near future. In the meantime, hit the jump to check it out yourself.

Continue reading Watch as Hot Rod goes from El Paso to LA the hard way

Watch as Hot Rod goes from El Paso to LA the hard way originally appeared on Autoblog on Tue, 21 Feb 2012 20:01:00 EST. Please see our terms for use of feeds.

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GM Touts Euro-Developed 2013 Chevy Cruze Diesel

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By Jeff Cobb

2012CruzeLTGM says the 2012 Cruze diesel will look nearly the same as the gasoline version (LT gas model shown).

Perhaps emboldened by the fact that its Cruze nameplate is Chevrolet’s global best seller, and hoping to create anticipation for a 2013 diesel variant co-developed in Europe for the U.S., GM is putting German automakers on notice.

“The market for diesel cars in the U.S. is small at present, but is expected to grow due to Corporate Average Fuel Economy requirements and expected increases in gas prices,” said Mike Omotoso, powertrain analyst at LMC Automotive. “So far, the German automakers haven’t had any diesel car competition in North America. GM could do well with it, particularly with younger buyers who don’t have the old prejudices against diesel.”

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