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May 9 News: Tesla Motors Turns Profit, Sells More Chargeable Vehicles In Q1 Than Any Other Automaker

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"May 9 News: Tesla Motors Turns Profit, Sells More Chargeable Vehicles In Q1 Than Any Other Automaker"

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Tesla Motors

Tesla Motors sold more electric cars than any other automaker, turning its first profit in 10 years. [LA Times]

The Palo Alto automaker on Wednesday reported net income of $11.2 million, or 12 cents a share, in the three month period that ended March 31. That’s up from a loss of $89.9 million, or 76 cents a share, a year earlier. Analysts, on average, had predicted a profit of 4 cents a share.

Tesla reported revenue of $561.8 million on record sales of 4,900 of its top-of-the-line Model S sedans. That surpassed the company’s forecast by more than 250 vehicles and prompted the automaker to raise its 2013 forecast. It now expects to sell about 21,000 of its Model S vehicles by the end of this year….

For the quarter, Tesla was the top seller of rechargeable cars in North America, surging past Nissan Motor Co.‘s 3,695 deliveries of the Leaf and General Motors Co.‘s 4,421 sales of the Volt plug-in hybrid.

 

The U.S. climate negotiators’ plan to allow each country in the world to set its own emissions reduction targets is gaining ground, though China is pushing for more binding targets. [Guardian]

More groups are seizing on a comment made by Vice President Biden opposing the Keystone XL, buying ads in a new effort to reject the tar sands pipeline. [Washington Post, New York Times]

An Arkansas Congressman who supports Keystone nevertheless wants the leaky Pegasus pipeline that spilled in the town of Mayflower recently moved from his state. [Inside Climate News]

Some wonder if there will be a deal should the Keystone pipeline be approved, including some (assumedly) major climate or renewable energy policy. [New York Times]

Mark Zuckerberg’s Fwd.us group’s embrace of fossil fuels is catching flak from the tech industry. [LA Times]

Shell Oil will dril two miles underwater in the Gulf of Mexico, which would be the world’s deepest well. [Guardian]

The Keeling curve measuring carbon dioxide continues to show that levels are higher than they’ve been in 800,000 years, and the trend will be crossing 400 parts per million very soon. [Washington Post]

Senator Sheldon Whitehouse last night on the senate floor made the biblical argument for climate action. [Raw Story]

An increasing variety of groups are moving to block the sale of several major newspapers to the Koch brothers. [New York Times]

With another above-average hurricane season predicted, President Obama and electric utility executives met to discuss “lessons learned” from Superstorm Sandy. [Businessweek]

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15 Responses to May 9 News: Tesla Motors Turns Profit, Sells More Chargeable Vehicles In Q1 Than Any Other Automaker

  1. fj says:

    It must become common knowledge that high emissions reductions in a country is a very important indicator of substantive economic success.

  2. BillD says:

    Tesla stock is really on a roll. Evidently many short sellers were hammered. When shorts have to buy to cover, that adds quite an extra umph to the rally.

  3. Jay Alt says:

    CBS- Tesla Model S gets Consumer Reports’ top score

    DETROIT: The Tesla Motors Model S electric car has tied an older Lexus for the highest score ever recorded in Consumer Reports magazine’s automotive testing.

    The Model S . . . scored 99 points on a scale of 100 in the magazine’s battery of tests.

  4. Just saw a Telsa S on the road with the licence plate: OIL LOL

  5. lizardo says:

    Joe: I’m a bit surprised there was no link to this story, about possible revolutionary new, cheaper, more efficient solar:

    http://www.mcclatchydc.com/2013/05/08/190683/patent-filing-claims-solar-energy.html#.UYqRTYJ5FFQ

    though it’s a bit early to say (understatement). Still, it was something that made me feel a bit less hopeless for a bit.

  6. prokaryotes says:

    11m ‏@BarackObama
    Retweet to tell climate deniers in Congress: #YouWillNotBeTakenSeriouslyIf you keep ignoring the science on climate change. https://twitter.com/BarackObama/status/332582221452042241

  7. prokaryotes says:

    This is the main story atm…
    Media Misses Extreme Weather/Climate Connection
    http://climateforce.net/2013/05/09/media-misses-extreme-weatherclimate-connection/

  8. Merrelyn Emery says:

    I hope China wins that battle re the 2015 agreement. The USA’s plan to ‘do your own thing’ is essentially no agreement and we already know the results of that approach, ME

  9. nyc-tornado-10 says:

    Excellent speech by senator Whitehouse, rational and well spoken. Religion is not a matter of pure faith, religion requires a mix of faith and rationality, pure faith is blindness. The “religious right” does not worship God, they worship the idol capitalism. The corporations and the super rich are the “nephilim” of our time, they are wrecking every aspect of creation, and bringing on the catastrophe of our time and all times.

  10. Nathanael says:

    This makes the Tesla model S the best-selling electric car of all time, by the way.