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Tesla

Tesla surpasses Q4 projections despite obstacles

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Tesla is continuing to maintain its ownership of the electric vehicle (EV) industry, as a report this week indicated the automaker had delivered 308,600 Tesla vehicles in Q4 2021. This surpassed Q3 2021 deliveries, which totaled 241,300 and was the record at the time. The Detroit News reported this number was over 87% of 2020’s […]
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Musk

Elon Musk named ‘TIME’ Person of the Year 2021

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The CEO of the electric car brand Tesla has a new title to add to his extremely busy Twitter profile. TIME Magazine has named Elon Musk as Person of the Year 2021, putting a stamp on the billionaire’s banner year. Though the title certainly comes with some honor, the designation paints his influence and demeanor […]
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tesla

Tesla CEO Elon Musk displays the power of tweeting

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On Saturday, November 6, Tesla CEO Elon Musk wrote a tweet that has affected his personal and his company’s finances in under 140 characters. On his Twitter account, he created a poll, stating, “Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock.” […]
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Tesla marks record deliveries in Q3, ninth straight profitable quarter

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Tesla’s earnings were reported to investors on October 20, and the financial results paint the last quarter as bright despite the ongoing pandemic and supply chain issues. For the ninth straight quarter, Tesla has generated a profit from its operations, achieving a $2.0 billion operating income on a total gross profit of $3.66 billion. Markers […]
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chip shortage

Cost of chip shortage expected to double, but Musk sees...

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In May 2021, AlixPartners predicted that the chip shortage plaguing the auto industry since the middle of the pandemic would end up costing the auto industry $110 billion US in lost revenue through the year, a figure that inflated from an initial $60.6 billion predicted in January. The global consulting firm has updated their estimated […]
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cybertruck

Tesla Cybertruck production delayed by another year

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At the initial model unveiling, the Tesla Cybertruck was positioned as a frontrunner among electrified pickup trucks. The launch event had its own hiccups with Elon Musk smashing what was supposed to be Armor Glass on the truck’s windows with a metal ball, and the stumbles keep coming. Originally slated for a late 2021 release […]
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VADA

VADA Pres. Don Hall discusses outcome of latest Tesla battle and...

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Today on CBT News, Don Hall, President and CEO of the Virginia Automobile Dealers Association (VADA), discusses recent headlines from EVs to F&I. Hall...

Auto industry leaders ruffle feathers with recent tweets

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Elon Musk hasn’t particularly cared about tradition and has often upset those who have enjoyed the control they had on their business environment. Recently, MSNBC wrote, “Elon Musk’s tweets are moving markets — and some investors are worried.” The truth is, even the media are concerned because, unlike decades ago, they aren’t the only funnel of information […]
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Ford CEO Jim Farley jabs Tesla for FSD testing

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Tesla might have led the way with battery electric technology, but Ford isn’t going to take the fight lying down. With the release of the Mustang Mach-E, Ford’s CEO Jim Farley has decided to take a few swings at the pioneer. Farley’s hope is that consumers will see that Ford doesn’t approach testing the same […]
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Elon Musk’s brother sells $25.6 million in Tesla stock

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Kimbal Musk, younger brother of Tesla CEO Elon Musk sold $25.56 million in shares of Tesla (TSLA). Kimbal Musk, who serves as a board member for the company, sold his shares on the open market for more than $850 per share according to a filing. This is not the first time the younger Musk has […]
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