Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

4/1/2013 (3 years ago)

Catholic Online (www.catholic.org)

News comes amid reports that company will discontinue entry-level electric car

In an announcement that may give credence to the economic viability of the electric car, Tesla Motors is set to report its first profit ever. However - the news comes amidst the expected announcement that it intends to scrap it $50,000 entry-level Model S.

Tesla has decided to remain with the larger 60 kilowatt hour battery pack option, with a range is closer to 230 miles. That model sells for $62,400 after a $7,500 federal tax credit.

Tesla has decided to remain with the larger 60 kilowatt hour battery pack option, with a range is closer to 230 miles. That model sells for $62,400 after a $7,500 federal tax credit.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

4/1/2013 (3 years ago)

Published in Business & Economics

Keywords: Tesla Motors, electric cars, Model S, car of the Year, Motor Trends


LOS ANGELES, CA (Catholic Online) - The announcement about the just-ended first quarter pushed Tesla Motors shares nearly 16 percent higher.

"There have been many car startups over the past several decades, but profitability is what makes a company real," co-founder and CEO Elon Musk said in a statement. "Tesla is here to stay and keep fighting for the electric car revolution."

The company expected to sell 4,500 units of the Model S in the quarter. Sales surpassed the 4,750-unit mark recently. The company amended its first-quarter guidance in response.

Tesla Motors may have even bigger news in store later this week -- in a late night tweet, Musk alluded to an announcement this week that will be "arguably more important."

The profitable quarter would follow a disheartening final three months of 2012, when Tesla reported a $75 million loss. Tesla posted $306 million in sales.

The Model S is a full-size, four-door luxury sports sedan. It was unveiled in 2009, but did not become publicly available until last year. So far, the company has sold about 10,000 electric cars to customers in 31 countries.

The recent announcement also came with news that Tesla has decided to scrap production of its entry-level model, which sold for a base price of $59,900. It was equipped the smallest battery, a 40-kilowatt hour version that would deliver a range of 160 miles.

Tesla has decided to remain with the larger 60 kilowatt hour battery pack option, with a range is closer to 230 miles. That model sells for $62,400 after a $7,500 federal tax credit.

The company explained that only four percent of customers chose the version with the smaller battery, which is not enough to justify production.

Chief executive officer Musk also thanked customers for continued, "passionate support." Those that bought into the Model S in recent months did so even after the car received a scathing review from the New York Times, one that Tesla accused of being full of lies.

The car has won "Car of the Year" honors from both Motor Trend and Automobile Magazine.


---


Pope Francis: end world hunger through 'Prayer and Action'


Copyright 2016 - Distributed by THE CALIFORNIA NETWORK

Pope Francis Prayer Intentions for May 2016
Universal:
Respect for Women: That in every country of the world, women may be honored and respected and that their essential contribution to society may be highly esteemed.
Evangelization: Holy Rosary: That families, communities, and groups may pray the Holy Rosary for evangelization and peace.



Comments


More Business & Economics

Censorship in America is alive and well. You'll be surprised to see who you can thank! Watch

Image of Obama and Zuckerberg work closely. It's not clear on what.

By David Drudge (CALIFORNIA NETWORK)

Freedom of the press may be the most important fundamental right in a free society. This is why censorship, particularly on social networks such as Facebook, is particularly onerous. LOS ANGELES, CA (California Network) - Freedom of the press is enshrined in the First ... continue reading


Facebook censor scandal - What is Zuckerberg up to? Watch

Image of Facebook censorship scandal prompts Zuckerberg to move (Pinterest).

By Kenya Sinclair (CALIFORNIA NETWORK)

Mark Zuckerberg is set to hold a meeting on Wednesday with Glenn Beck and Dana Perino to talk Facebook's censorship scandal. LOS ANGELES, CA (Catholic Online) - Recently a Gizmodo report accused Facebook of suppressing conservative news in the "trending" section.The ... continue reading


YES, bosses should let their employees power nap. So why don't they? Watch

Image of Studies show a short nap at work and increase productivity, alertness, memory, and cognition.

By Marshall Connolly (CALIFORNIA NETWORK)

There's something to be said for the afternoon siesta, after all. Or at least a power nap, according to one sleep expert from the University of Adelaide. Research shows that a ten-to-fifteen-minute nap in the afternoon improves performance. LOS ANGELES, CA (California ... continue reading


191 THOUSAND mining jobs lost since September '14 Watch

Image of With less coal, the US will need to turn to other countries (Pinterest).

By Kenya Sinclair (CALIFORNIA NETWORK)

Coal provides a cheap and efficient source of power - and the United States has lost 191,000 miners to provide this commodity. LOS ANGELES, CA (Catholic Online) - According to the <a href=http://www.bls.gov/news.release/pdf/empsit.pdf>Bureau of Labor ... continue reading


Obama brags in face of economic failure Watch

Image of The Obama administration claims the economy is thriving - but what is REALLY going on (TPNN)?

By Kenya Sinclair (CALIFORNIA NETWORK)

We all know "that guy." You know the one - the guy who is obsessed with conspiracy theories and who swears the government is out to get us. Well, according to newly released economic data, "that guy" might be (partially) right. LOS ANGELES, CA (Catholic Online) - U.S. ... continue reading


Yes, there's definitely something wrong with millennials, and here's what it is! Watch

Image of As far as millennials are concerned, the American dream is just that -- you have to be asleep to believe it.

By Marshall Connolly (CALIFORNIA NETWORK)

Across the country, the news is shocking. Over half of the millennials think socialism might be a good thing. Most of them believe the American dream is a myth, and public perception is that something is wrong with them. Why do they just want "free stuff?" LOS ANGELES, ... continue reading


Billionaire Soros warns China is near economic collapse Watch

Image of China's economy may be heading for trouble.

By Marshall Connolly (CALIFORNIA NETWORK)

Billionaire George Soros is sounding the alarm, China is about to go down and the rest of the world could follow. According to Soros, there is a major resemblance between China now and the United States in 2007-2008 just before the U.S. economy entered the Great ... continue reading


IRS issues dire warning before Panama Papers crackdown begins Watch

Image of The Panama Papers detail the tax evasion schemes of thousands of wealthy people around the world.

By Marshall Connolly (CALIFORNIA NETWORK)

The IRS has issued a warning to the rich who have been hiding money offshore - come clean now, before we catch you ourselves. The warning follows the leak of over 11 million pages of documents that detail the private, often hidden financial moves of wealthy people ... continue reading


Obama's Saudi masters order him not to sign 9/11 bill Watch

Image of It's not about the victims, it's about the Saudis.

By David Drudge (CALIFORNIA NETWORK)

Saudi Arabia is about to escalate their economic war with the United States should Congress pass a law that will allow victims of the 9/11  terrorist attacks to sue foreign states. The Obama administration opposes the bill and is lobbying against it. LOS ANGELES, ... continue reading


You won't believe how California's rich spend their money! Watch

Image of Top 1 percent pays nearly half of all California taxes (istockphoto).

By Kenya Sinclair (CALIFORNIA NETWORK)

When you think of California, images of sandy beaches, sun-kissed skin and Hollywood stars flash through your mind - and you're not wrong! California's rich enjoy all the sunny state has to offer - but at what cost? LOS ANGELES, CA (Catholic Online) - According to ... continue reading


All Business & Economics News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Subscribe to Catholic OnlineYouTube Channel

the FEED
by Catholic Online

  • St. Mary Magdalene de Pazzi: Saint of the Day for Wednesday, May 25, 2016
  • Benedict XVI to make public appearance?
  • Daily Reading for Thursday, May 26th, 2016 HD Video
  • Daily Readings for Wednesday, May 25, 2016
  • Prayer to Holy Michael the Archangel HD Video
  • Nun fatally attacked in South Sudan
  • Goodbye El Nino! Hello La Nina! What does this mean for the Atlantic ...

Daily Readings

Reading 1, First Peter 1:18-25
18 For you know that the price of your ransom from the futile way of life ... Read More

Psalm, Psalms 147:12-13, 14-15, 19-20
12 Praise Yahweh, Jerusalem, Zion, praise your God.13 For he ... Read More

Gospel, Mark 10:32-45
32 They were on the road, going up to Jerusalem; Jesus was walking on ... Read More

Saint of the Day

Saint of the Day for May 25th, 2016 Image

St. Mary Magdalene de Pazzi
May 25: It would be easy to concentrate on the mystical ... Read More