Posted by Dale Buss on August 8, 2013 10:49 AM
Riders on the first SpaceX flights next year might worry that Elon Musk's trailblazing enterprise could take them all the way to the moon instead of just barely piercing space. Musk's Tesla Motors, at least, keeps exceeding expectations.
Tesla shares tacked on 15 percent or more to their price by Thursday morning in the several hours since Musk announced on Wednesday that his EV company had busted Wall Street's model again and posted a sharply reduced loss, which could even be translated as a profit without the effect of several extraordinary items. The main point was that Tesla was continuing to sell more Model S vehicles at $70,000 to $100,000 than Even Musk expected and that prospects were becoming even rosier.
The disconnect between sales of Tesla Model S—appealing to wealthy, eco-conscious buyers—and struggling sales of "mainstream" electrified vehicles such as the Chevrolet Volt and Ford Focus Electric grew with Tesla's earnings announcement. Model S deliveries totaled 5,150 in the second quarter, topping the company's target of 4,500, and Musk announced in a conference call that an annual selling rate of $40,000 by the end of next year looks "pretty safe," according to Bloomberg.Continue reading...
Posted by Dale Buss on May 28, 2013 03:41 PM
Ex-GM executive Bob Lutz has been resolute in his support of the Chevrolet Volt that he championed when he was vice chairman and product czar at General Motors a few years ago. Now he's singing the praises of another electric car with a patchy record: the Fisker Karma.
In fact Lutz, bon vivant, former jet-fighter pilot and one of the most celebrated of the few true American auto-industry heroes of the last 20 years, likes Fisker so much that he wants to buy it—the company, not the car—along with some Chinese investors.
Trouble is, another investor group aiming at Fisker Automotive has also surfaced in the last few days. This one is also backed by Chinese investors but is headed by Henrik Fisker, co-founder of the company and designer of the Karma who left it a few weeks ago after a fallout with other top executives over strategy. Hong Kong billionaire Richard Li, a Fisker investor, is his partner.Continue reading...
Posted by Dale Buss on February 18, 2013 06:02 PM
Now that Chevrolet has rolled out the first creative under its "Find New Roads" brand positioning, General Motors CMO Alan Batey wants to give the upbeat, product-oriented theme as much exposure as he can.
Batey tells brandchannel that, in addition to new vehicle-specific TV ads in the weeks ahead, Chevrolet will be doing more in-cinema advertising than ever before.
The original ad that aired during the recent Grammy Awards telecast on CBS—including vignettes separately featuring the Chevrolet Volt, Spark, Sonic, Corvette Stingray and Impala—"will be broken down into four standalone-product ads," Batey told us, "and we'll also be using that work quite extensively not just on TV but also in cinema," he said.Continue reading...
Posted by Dale Buss on January 17, 2013 09:02 AM
Airbus sees orders fall as Boeing's 787 Dreamliner is grounded in U.S., Japan, Europe and India.
GM woos Facebook to return to paid ads, remains cautious on 2013, defends Opel restructuring and eyes cheaper Chevy Volt.
Blockbuster faces U.K. closure after no buyers emerge.
American Airlines swings to profit and sees “good trajectory” for this year.
Apple rattles Wall Street with sharp stock-price drop.
AT&T looks to Europe for mergers.
Audi aims for 200,000 U.S. sales “sooner” rather than “later.”Continue reading...
Posted by Dale Buss on January 19, 2012 03:58 PM
Small cars are facing big problems these days.
Mini this week announced a global recall that impacts 89,000 of its cars in the United States, including its Mini Cooper line, and 235,000 worldwide because of faulty water pumps that can malfunction and have caused some engine-compartment fires. Mini parent BMW is trying to reassure consumers that the move is preventative. Indeed, Mini's documented problem — five of the fires reportedly destroyed cars actually being used by their owners — far eclipses the fire problem in the Chevrolet Volt that has so weighed down that brand lately.
Beyond that speed bump, Mini these days is achieving exactly what the BMW-owned brand has wanted to achieve in the American market: reigning as the undisputed champion of the tiny-car segment, holding off the likes of Smart, Scion and even Fiat.Continue reading...
Posted by Dale Buss on January 5, 2012 04:04 PM
General Motors today took what it hopes is a big step toward keeping the Chevrolet Volt brand on track, announcing its promised "quick fix" to a design flaw that led some of the car's battery packs to catch fire days or weeks after they were damaged in government safety tests.
The move comes just weeks after the problem led to a federal investigation, its relative speediness testifying to the tremendous long-term importance that has been attached to the success of Volt, a so-called plug-in hybrid that can be powered entirely either by its battery pack or by a small gasoline engine, a significant wrinkle compared with electric-only vehicles such as the Nissan Leaf.
GM is adding a tamper-resistant bracket to the top of the battery coolant reservoir to prevent potential coolant overfill, to "further protect" the battery against the kinds of damage in question. The company noted that Volt remains a Top Safety Pick by the Insurance Institute for Highway Safety, and executives have remarked that Volt is as safe as any other vehicle. Today's announcement was aimed at going "the extra mile to ensure our customers' peace of mind," said Mary Barra, GM's vice president of global product development.
Volt could use some steadying. The nameplate sold 1,529 units in December, its best month, but many of those were sales to commercial fleets, not retail customers, Alan Batey, head of the Chevrolet division, told journalists. And total sales of fewer than 7,700 Volts for the year fell far short of GM's projection of 10,000 sales in the car's first year.Continue reading...
Posted by Dale Buss on January 3, 2012 02:03 PM
Even after falling subject to a federal safety investigation and disappointing sales of the Chevy Volt, it's possible that General Motors and Chevrolet executives could look back on 2011 as the halcyon days for the plug-in hybrid. That's because 2012 looks so foreboding for Volt already. GM faces at least three problems with Volt heading into 2012. And then there's Mitt Romney.
As Forbes reported on Dec. 30th, "the 64-year-old Republican presidential candidate and former governor of Massachusetts responded with dismissive laughter when asked what he thought of the Chevy Volt, adding that the plug-in hybrid is an 'idea whose time has not come.' His campaign later went on to defend the statement as reflective of the car’s slow sales — but critics were quick to pounce."Continue reading...
Posted by Shirley Brady on June 17, 2010 08:00 AM
BP CEO Tony Hayward will face a tough audience and aim to strike an emotional chord (and avert criminal charges) in his testimony in Washington today, as company's shares rise on news of $20 billion compensation fund. Obama's speech on the oil spill Tuesday night? Too "professorial" says linguist.
Two Dutch women appeared in court in South Africa, facing jail time over Bavaria Beer's ambush marketing stunt at the World Cup.
AOL confirms Bebo sale to turnaround firm.
Bank of America and other banks hope to phase out free checking without alienating customers.
Boots becomes first major UK retailer to adopt contactless Mastercard payments.
Facebook valuation debate: $3.60 or $136.38 per fan?Continue reading...