Editor’s Note: Related Tickers: Tesla Motors Inc (NASDAQ:TSLA), General Motors Company (NYSE:GM), Ford Motor Company (NYSE:F), Honda Motor Co Ltd (ADR) (NYSE:HMC), Toyota Motor Corporation (ADR) (NYSE:TM)
Tesla: Consumer Reports’ best car ever tested (CNN)
Consumer Reports is calling the Tesla Motors Inc (NASDAQ:TSLA) Model S the best car it has ever tested. The Model S, an all-electric plug-in car, earned a score of 99 out of a possible 100 in the magazine’s tests. The score would have been higher but for the fact that the all-electric car does need to stop and recharge during extremely long-distance drives. “If it could recharge in any gas station in three minutes, this car would score about 110,” said Jake Fisher, head of auto testing for Consumer Reports. Fisher called the car’s performance in the magazine’s performance tests “off the charts.”
General Motors Company (NYSE:GM) India on Thursday launched its multi purpose vehicle Enjoy at an introductory price between Rs 5.49 lakh and Rs 7.99 lakh (ex-showroom Delhi). The vehicle will compete with Maruti Suzuki India’s Ertiga, which is priced between Rs 5.98 lakh and Rs 8.7 lakh (ex-showroom Delhi). The Enjoy is available in both petrol and diesel options. The petrol version is powered by a 1.4 litre engine and the price ranges from Rs 5.49 lakh and Rs 6.99 lakh. The diesel variant has a 1.3 litre engine tagged at Rs 6.69 lakh and Rs 7.99 lakh. The vehicle will have 7-seater and 8- seater options.
Ford Hot Hatch Has Volkswagen Playing Catch-up to Focus ST: Cars (Bloomberg)
Stan Visnesky wanted to spice up his daily drive with a souped-up small hatchback. Rather than go for a more popular and pricey road rocket from Germany’s Volkswagen AG (VOW), Visnesky bought Ford Motor Company (NYSE:F)’s Focus ST. “It’s definitely a steal,” said Visnesky, 26, of Dettford, New Jersey. He paid $27,000 in December for his black Focus ST with racing seats and touch-screen controls. “For anything around the same specs, you’d be paying probably more than $30,000.” Chief Executive Officer Alan Mulally has many triumphs to discuss today at his seventh annual meeting at the helm of the No. 2 U.S. automaker. Ford Motor Company (NYSE:F) is on a winning streak with its new Fusion mid-size sedan complementing the F-Series truck line.
Auto Review: Taking off in the Honda Pilot (ReminderNews)
Honda Motor Co Ltd (ADR) (NYSE:HMC) has adopted this clever design theory by using the same basic platform for both a minivan (the Odyssey) and an SUV (the Pilot). This week we explore the Pilot, which is nearly as capacious as the Odyssey, but has the option of All-Wheel Drive, conventional rear doors and more ground clearance than the minivan. This gives it better all-road capability, as well as some light off-road ability as well. Like the Odyssey, there’s tons of room and very usable three-row seating, making it a very good choice in the family hauling department. The Pilot is built on a reinforced unibody chassis (instead of body-on-frame) and rides on a 109.2-inch wheelbase that is actually 9 inches shorter than its minivan relative.
Tesla earns first profit — $11 million in Q1 (USA TODAY)
Tesla Motors Inc (NASDAQ:TSLA), maker of high-dollar electric cars, reported its first quarterly profit Wednesday — $11 million. The car company noted in its letter to shareholders that it was the first black ink in the company’s 10-year history. Revenue was reported as $562 million, up 83% from the period a year ago. Under GAAP reporting rules, excluding a one-time gain, earnings per share were 0 cents, the company said. The automaker said…
…it sold 4,900 of its Model S electric sedans in the first quarter, up from the 4,500 it had forecast. The company said worldwide orders now are running at a 22,000-per-year pace. Tesla Motors Inc (NASDAQ:TSLA) does not report monthly U.S. sales figures as other automakers do.
2014 Toyota Corolla details leaked (Autoblog)
Toyota Motor Corporation (ADR) (NYSE:TM) will launch the 2014 Corolla later this year, and thanks to the ever-leaky internet, a couple of key details about the new sedan have been revealed. We got our first glimpse at the next-generation Corolla’s design at the 2013 Detroit Auto Show, where Toyota unveiled the Furia concept. Yes, it looks all sporty and aggressive, but fear not, appliance shoppers, C/D says that the production car should have a couple of Furia bits mixed in with a huge helping of Camry-inspired styling. The 2014 Corolla will reportedly continue to use a 1.8-liter four-cylinder engine, though the mill has been massaged a bit, adding Toyota Motor Corporation (ADR) (NYSE:TM)’s Valvematic continuously variable valve timing.
General Motors Financial Bonds Rise After $2.5 Billion Offering (Businessweek)
Bonds of General Motors Company (NYSE:GM)’s lending unit rose after the company issued more debt than it had previously forecast with a $2.5 billion offering. General Motors Financial’s $750 million of 4.25 percent notes due May 2023, which the unit issued at par, traded at 103 cents on the dollar to yield 3.89 percent at 8:54 a.m. in New York, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority.
Ford Focus ECOnetic (AutoExpress)
Buying an eco-friendly car used to mean compromise. But while this new Ford Motor Company (NYSE:F) Focus ECOnetic certainly makes big claims about its efficiency – 83.1mpg and 88g/km of CO2 – it looks like any other model in the range. Only when you scratch the surface do you find subtle changes that make a big difference. The engine features a new injection system and turbo, while the transmission uses special low-friction oil. Other tweaks include underbody shields, an active grille shutter and ultra-low-resistance tyres, plus the usual fuel-saving measures such as stop-start, a shift indicator light and an eco mode.
Honda sets 3,200-unit Civic Hybrid sales target for 2013 (Business Times – Malaysia)
Honda Motor Co Ltd (ADR) (NYSE:HMC) Malaysia Sdn Bhd has raised Honda Civic Hybrid sales target to 3,200 units this year after selling 1,200 units last year. This works out to 270 units monthly, the company said in a statement on the new and improved version of the popular model. “With our broadest range of hybrid vehicles, Honda retained the No. 1 position in the hybrid car segment last year,” said Honda Motor Co Ltd (ADR) (NYSE:HMC) Malaysia managing director and chief executive officer Yoichiro Ueno. As of April, more than 16,300 Honda Hybrid units are on Malaysian roads and out of these, 2,460 units are Civic Hybrid.
Toyota FJ Cruiser Recalled Due to Headlight Issue (autoevolution)
Toyota Motor Corporation (ADR) (NYSE:TM) is recalling the FJ Cruiser for the second time this year. The new campaign sees the vehicle being called back due to a headlight intensity issue. The affected vehicles were built between January 25m 2006 and February 23, 2013 and are fitted with a Toyota Auxiliary Driving Lamp Kits. The extra lights use 55 Watt bulbs and when these are used together with the high beam…
…the resulting light surpasses the maximum limit allowed by the law. The excessive light can temporarily blind drivers of oncoming vehicles and thus seriously increase the risk of an accident.
Tesla (TSLA) Earnings Triples Expectations, Stock Rockets (Cabot Wealth Advisory)
Tesla Motors Inc (NASDAQ:TSLA) delivered its first-ever quarterly profit late Wednesday reporting EPS minus items of 12 cents, triple Wall Street’s expectations, and raising some guidance metrics, Investor’s Business Daily reported. The stock roared 25% in after-hours trading, following the Q1 report. Its shares already were up 65% in 2013. The company said its Q1 gross margin soared to 17% from just 8% in Q4. Tesla expects to exceed its prior target of delivering 20,000 vehicles this year by about 1,000, Musk said in the letter. That was a key point analysts were watching, along with Tesla Motors Inc (NASDAQ:TSLA)’s gross profit margin guidance.
General Motors signs Climate Declaration (Bizcommunity.com)
General Motors Company (NYSE:GM) is the first automaker among 40 major US companies to sign a “Climate Declaration”, collectively asserting that responding to climate change is good business. The campaign is organised by sustainable business advocacy group Ceres and its Business for Innovative Climate & Energy Policy, or BICEP, coalition. GM’s participation was recently announced at the Ceres Conference in San Francisco. Signers of the declaration are calling for policymakers to address climate change by promoting clean energy, boosting efficiency and limiting carbon emissions – strategies General Motors Company (NYSE:GM) employs within its operations as it seeks to reduce the environmental impact of manufacturing.
Mulally reiterates to Ford shareholders his plan to lead company through 2014 (Automotive News)
Ford Motor Company (NYSE:F) CEO Alan Mulally reiterated the company’s plan that he continue leading the automaker through at least 2014. “We’ve said at least through 2014, but I always listen to my chairman,” Mulally, 67, said today after the company’s annual meeting here. Ford Motor Company (NYSE:F) said 69 people attended the meeting. Executive Chairman Bill Ford joked with reporters: “I thought it was 2020? Or wasn’t it 2025? He’s got a long run.”
