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Tesla Announces Second-Quarter Results, Not Bleeding As Much
William Maley posted an article in Tesla
Tesla announced their second-quarter results this afternoon and the picture that it paints is somewhat cloudy. The company reported a loss of $717.5 million for the quarter, marking the seventh consecutive loss, On the upside, Tesla's revenue for the quarter was about $3.4 billion. In terms of production, Tesla said it produced 53,339 vehicles for the quarter. More importantly, the company delivered 18,449 Model 3s in that timeframe. During the earnings call, CEO Elon Musk said the company would become profitable towards the end of this year as it ramps up production and deliveries of the Model 3. "Our goal is to be profitable and cashflow positive in every quarter going forward," said Musk. To reach this, Musk has set new goals of producing 6,000 Model 3s per week by the end of August, and then raising that to 10,000 vehicles next year. Currently, Tesla is producing "approximately 5,000 Model 3 cars" per week. Source: Tesla -
Tesla announced their second-quarter results this afternoon and the picture that it paints is somewhat cloudy. The company reported a loss of $717.5 million for the quarter, marking the seventh consecutive loss, On the upside, Tesla's revenue for the quarter was about $3.4 billion. In terms of production, Tesla said it produced 53,339 vehicles for the quarter. More importantly, the company delivered 18,449 Model 3s in that timeframe. During the earnings call, CEO Elon Musk said the company would become profitable towards the end of this year as it ramps up production and deliveries of the Model 3. "Our goal is to be profitable and cashflow positive in every quarter going forward," said Musk. To reach this, Musk has set new goals of producing 6,000 Model 3s per week by the end of August, and then raising that to 10,000 vehicles next year. Currently, Tesla is producing "approximately 5,000 Model 3 cars" per week. Source: Tesla View full article
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Yesterday, Consumer Reports announced the results of their annual reliability survey for 2015. Not surprisingly, the top ten was mostly made up of Japanese and Korean automakers, with Lexus and Toyota taking the top two spots. However, Audi led the Europeans by taking the third spot. For the domestics, Buick landed at number seven on the list. The survey reports that a number of automakers are still having troubles with the infotainment system, but also with transmissions. “We’ve seen a number of brands struggle with new transmission technology. “Whether it’s a complex system such as a dual-clutch gearbox, a continuously variable transmission, or one with eight or nine speeds. Many vehicles require repair and replacements because of rough shifting among the gears and slipping CVT belts,” said Jake Fisher, Consumer Reports’ Director of Automotive Testing. One other bit of news to come out was the Tesla Model S losing its Recommended rating from the publication. While the vehicle earned top marks when it came to the tests done by Consumer Reports, the respondents tell a slightly different story. Problems listed include pop-out door handles that don't pop out anymore, leaking sunroofs, door rattles, and failure of the electric motor. Source: Consumer Reports Press Release is on Page 2 Consumer Reports’ 2015 Annual Auto Reliability Survey: New Transmission Technology Problems Emerge Lexus, Toyota, Audi, Mazda, and Subaru Most Reliable Brands YONKERS, NY—While problematic infotainment systems continue to be among the top issues reported by new car owners, Consumer Reports has identified an emerging trend of increased troubles with new transmission systems developed to improve fuel-economy, based on an analysis of its 2015 Annual Auto Reliability Survey. The findings, released today before the Automotive Press Association in Detroit, are collected annually from Consumer Reports’ subscribers. CR’s 2015 Annual Auto Reliability Survey takes into account data from more than 740,000 vehicles. This year, Acura becomes the latest brand to see its overall predicted-reliability ranking drop sharply (down 7 places from last year) due to problems with in-car electronics and transmissions for its newest RLX and TLX sedans. CR has already seen these trouble areas drag down overall scores for Ford, Nissan, Fiat-Chrysler and others. “We’ve seen a number of brands struggle with new transmission technology,” said Jake Fisher, Consumer Reports’ Director of Automotive Testing. “Whether it’s a complex system such as a dual-clutch gearbox, a continuously variable transmission, or one with eight or nine speeds. Many vehicles require repair and replacements because of rough shifting among the gears and slipping CVT belts.” Not all new-generation transmissions are troublesome. Audi and BMW have created reliable dual-clutch transmissions, while the CVTs in Honda and Toyota hybrids have been strong performers. Among the Japanese brands, Lexus pulled off a rare feat, garnering top reliability marks for all seven vehicle lines scored in Consumer Reports survey. But it was the only strong Japanese luxury brand. Nissan’s Infiniti brand has continued its downward trajectory because of problems with its InTouch infotainment system. Although none of Honda’s vehicles rated below average, the brand has dropped a few places largely due to glitches with its infotainment system in redesigned and freshened models. Toyota, Mazda and Subaru were all in the top five. Audi, once synonymous with service problems, continued its recent upward trend leading all European brands and finishing third, just behind Lexus and Toyota. Mini, BMW, Volvo, and Volkswagen all finished in the top 15. Porsche dropped from ninth to 14th place because of a declining score for the Cayman and a below-average debut for the Macan. Korean automakers, Kia and Hyundai, are considerably stronger and continue to rise in Consumer Reports rankings. The sister brands finished sixth and ninth, respectively. For the first time, Kia beat the stalwart Japanese brand Honda, and by a significant margin. The complete reliability results for all 2016 are available at www.ConsumerReports.org, today, and in the December Issue of Consumer Reports, on newsstands November 1. For the second year, Buick was the only domestic brand in the top 10 coming in seventh place. Cadillac dropped seven places to near the bottom, still plagued by its CUE infotainment system. Other General Motors brands, Chevrolet and GMC finished in the bottom third of the overall rankings. Ford remains in the lower half of the rankings as well, but showed significant gains with most of its cars scoring average or better. The redesigned F-150 and Expedition SUV were bright spots, scoring above average in its first year. But the first-year Mustang had issues with its body hardware, drive shaft, and stability/traction control systems. Nine of the 13 Fords Consumer Reports scored had average or better reliability. Tesla’s Model S sedan got high marks in Consumer Reports’ 50-plus performance tests, but its predicted reliability is another matter. CR received about 1,400 survey responses from Model S owners who chronicled an array of detailed and complicated maladies. From that data, the Tesla Model S earns a worse-than-average predicted reliability score. The main problem areas are the drivetrain, power equipment, charging equipment, center console, and body and sunroof squeaks, rattles, and leaks. While the long-running Chrysler and Dodge minivans scraped up an average reliability score for the first time in many years, all of Fiat-Chrysler brands (Chrysler, Dodge, Jeep, Ram, and Fiat) finished at or near the bottom again. -
Yesterday, Consumer Reports announced the results of their annual reliability survey for 2015. Not surprisingly, the top ten was mostly made up of Japanese and Korean automakers, with Lexus and Toyota taking the top two spots. However, Audi led the Europeans by taking the third spot. For the domestics, Buick landed at number seven on the list. The survey reports that a number of automakers are still having troubles with the infotainment system, but also with transmissions. “We’ve seen a number of brands struggle with new transmission technology. “Whether it’s a complex system such as a dual-clutch gearbox, a continuously variable transmission, or one with eight or nine speeds. Many vehicles require repair and replacements because of rough shifting among the gears and slipping CVT belts,” said Jake Fisher, Consumer Reports’ Director of Automotive Testing. One other bit of news to come out was the Tesla Model S losing its Recommended rating from the publication. While the vehicle earned top marks when it came to the tests done by Consumer Reports, the respondents tell a slightly different story. Problems listed include pop-out door handles that don't pop out anymore, leaking sunroofs, door rattles, and failure of the electric motor. Source: Consumer Reports Press Release is on Page 2 Consumer Reports’ 2015 Annual Auto Reliability Survey: New Transmission Technology Problems Emerge Lexus, Toyota, Audi, Mazda, and Subaru Most Reliable Brands YONKERS, NY—While problematic infotainment systems continue to be among the top issues reported by new car owners, Consumer Reports has identified an emerging trend of increased troubles with new transmission systems developed to improve fuel-economy, based on an analysis of its 2015 Annual Auto Reliability Survey. The findings, released today before the Automotive Press Association in Detroit, are collected annually from Consumer Reports’ subscribers. CR’s 2015 Annual Auto Reliability Survey takes into account data from more than 740,000 vehicles. This year, Acura becomes the latest brand to see its overall predicted-reliability ranking drop sharply (down 7 places from last year) due to problems with in-car electronics and transmissions for its newest RLX and TLX sedans. CR has already seen these trouble areas drag down overall scores for Ford, Nissan, Fiat-Chrysler and others. “We’ve seen a number of brands struggle with new transmission technology,” said Jake Fisher, Consumer Reports’ Director of Automotive Testing. “Whether it’s a complex system such as a dual-clutch gearbox, a continuously variable transmission, or one with eight or nine speeds. Many vehicles require repair and replacements because of rough shifting among the gears and slipping CVT belts.” Not all new-generation transmissions are troublesome. Audi and BMW have created reliable dual-clutch transmissions, while the CVTs in Honda and Toyota hybrids have been strong performers. Among the Japanese brands, Lexus pulled off a rare feat, garnering top reliability marks for all seven vehicle lines scored in Consumer Reports survey. But it was the only strong Japanese luxury brand. Nissan’s Infiniti brand has continued its downward trajectory because of problems with its InTouch infotainment system. Although none of Honda’s vehicles rated below average, the brand has dropped a few places largely due to glitches with its infotainment system in redesigned and freshened models. Toyota, Mazda and Subaru were all in the top five. Audi, once synonymous with service problems, continued its recent upward trend leading all European brands and finishing third, just behind Lexus and Toyota. Mini, BMW, Volvo, and Volkswagen all finished in the top 15. Porsche dropped from ninth to 14th place because of a declining score for the Cayman and a below-average debut for the Macan. Korean automakers, Kia and Hyundai, are considerably stronger and continue to rise in Consumer Reports rankings. The sister brands finished sixth and ninth, respectively. For the first time, Kia beat the stalwart Japanese brand Honda, and by a significant margin. The complete reliability results for all 2016 are available at www.ConsumerReports.org, today, and in the December Issue of Consumer Reports, on newsstands November 1. For the second year, Buick was the only domestic brand in the top 10 coming in seventh place. Cadillac dropped seven places to near the bottom, still plagued by its CUE infotainment system. Other General Motors brands, Chevrolet and GMC finished in the bottom third of the overall rankings. Ford remains in the lower half of the rankings as well, but showed significant gains with most of its cars scoring average or better. The redesigned F-150 and Expedition SUV were bright spots, scoring above average in its first year. But the first-year Mustang had issues with its body hardware, drive shaft, and stability/traction control systems. Nine of the 13 Fords Consumer Reports scored had average or better reliability. Tesla’s Model S sedan got high marks in Consumer Reports’ 50-plus performance tests, but its predicted reliability is another matter. CR received about 1,400 survey responses from Model S owners who chronicled an array of detailed and complicated maladies. From that data, the Tesla Model S earns a worse-than-average predicted reliability score. The main problem areas are the drivetrain, power equipment, charging equipment, center console, and body and sunroof squeaks, rattles, and leaks. While the long-running Chrysler and Dodge minivans scraped up an average reliability score for the first time in many years, all of Fiat-Chrysler brands (Chrysler, Dodge, Jeep, Ram, and Fiat) finished at or near the bottom again. View full article
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Problems With New Cars Increase For The Time Since 1998
William Maley posted an article in Automotive Industry
For the first time in sixteen years, J.D. Power and Associates says data from its recent vehicle dependability study shows that the average number of problems per 100 cars has increased. This year's study charted 2011 models over three years of ownership and tracked the number of problems. Looking at first-owner cars from the 2011 model year, J.D. Power reports an average of 133 problems per 100 cars (or shorten to PP100). This is an increase of six percent when compared to 2010's 126 PP100 average. The reason for this climb in problems comes down to problems with engines and transmissions. J.D. Power found that engines and transmissions problem accounted for a 6 PP100 boost. "Automakers are continually looking for ways to improve fuel economy, which is a primary purchase motivator for many consumers, particularly those buying smaller vehicles. However, while striving to reduce fuel consumption, automakers must be careful not to compromise quality. Increases in such problems as engine hesitation, rough transmission shifts and lack of power indicate that this is a continuing challenge," said David Sargent, vice president of global automotive at J.D. Power. Among individual brands, Lexus ran away with the most dependable brand title for the third year in a row. With just 68 problems per 100 vehicles, the brand was far ahead of Mercedes-Benz (104 PP100), Cadillac (107 PP100), Acura (109 PP100), and Buick (112 PP100). Source: J.D. Power William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] you can follow him on twitter at @realmudmonster. Press Release is on Page 2 2014 Vehicle Dependability Study 2/12/2014 J.D. Power Reports: Increased Engine and Transmission Problems Contribute to Decline in Vehicle Dependability for The First Time in More Than 15 Years General Motors Company Receives Eight Segment Awards, While Toyota Motor Corporation Garners Seven and Honda Motor Company Earns Six WESTLAKE VILLAGE, Calif.: Owners of 3-year-old vehicles (2011 model year) report more problems than did owners of 3-year-old vehicles last year, according to the J.D. Power 2014 U.S. Vehicle Dependability StudySM (VDS) released today. The study, now in its 25th year, examines problems experienced during the past 12 months by original owners of 2011 model-year vehicles. Overall dependability is determined by the number of problems experienced per 100 vehicles (PP100), with a lower score reflecting higher quality. The study finds that overall vehicle dependability averages 133 PP100, a 6 percent increase in problems from 126 PP100 in 2013. This marks the first time since the 1998 study that the average number of problems has increased. "Until this year, we have seen a continual improvement in vehicle dependability," said David Sargent, vice president of global automotive at J.D. Power. "However, some of the changes that automakers implemented for the 2011 model year have led to a noticeable increase in problems reported." Increases in Engine and Transmission Problems Reported Engine and transmission problems increase by nearly 6 PP100 year over year, accounting for the majority of the overall 7 PP100 increase in reported problems. The decline in quality is particularly acute for vehicles with 4-cylinder engines, where problem levels increase by nearly 10 PP100. These smaller engines, as well as large diesel engines, tend to be more problematic than 5- and 6-cylinder engines, for which owners report fewer problems, on average. "Automakers are continually looking for ways to improve fuel economy, which is a primary purchase motivator for many consumers, particularly those buying smaller vehicles," said Sargent. "However, while striving to reduce fuel consumption, automakers must be careful not to compromise quality. Increases in such problems as engine hesitation, rough transmission shifts and lack of power indicate that this is a continuing challenge." Dependability Leads to Loyalty; Poor Dependability Creates Avoidance J.D. Power also finds that the fewer problems owners experience with their vehicle, the greater their loyalty to the brand. Combined data from previous years' VDS results and vehicle trade-in data from the Power Information Network® (PIN) from J.D. Power show that 56 percent of owners who reported no problems stayed with the same brand when they purchased their next new vehicle. Brand loyalty slipped to just 42 percent among owners who reported three or more problems. Also, a comparison of data from the 2013 Vehicle Dependability Study with data from the subsequent J.D. Power 2014 U.S. Avoider StudySM shows that consumers are much more likely to avoid vehicles from brands that rank lower in dependability. On average, 23 percent of consumers avoided brands that ranked in the lowest quartile of the 2013 VDS because of concerns about reliability. In contrast, only 9 percent of consumers cited that same reason for avoiding brands that ranked in the top quartile. "By combining our customer research with trade-in data, we see a very strong correlation between dependability and real-world brand loyalty," said Sargent. "Also, we see that brands with lower dependability are likely to be shut out of a significant piece of the market, as many consumers will not even consider purchasing one of their vehicles because of concerns about its likely reliability." Highest-Ranked Nameplates and Models Lexus ranks highest in vehicle dependability among all nameplates for a third consecutive year. The gap between Lexus and all other brands is substantial, with Lexus averaging 68 PP100 compared with second-ranked Mercedes-Benz at 104 PP100. Following Mercedes-Benz in the rankings are Cadillac (107), Acura (109) and Buick (112), respectively. General Motors Company receives eight segment awards?more than any other automaker in 2014?for the Buick Lucerne; Cadillac DTS (tie); Cadillac Escalade; Chevrolet Camaro; Chevrolet Volt; GMC Sierra HD; GMC Sierra LD; and GMC Yukon. Toyota Motor Corporation garners seven awards for the Lexus ES; Lexus GS; Lexus LS (tie); Lexus RX; Scion xB; Toyota Camry; and Toyota Sienna. Honda Motor Company receives six model-level awards for the Acura RDX; Honda CR-V; Honda Crosstour; Honda Element; Honda Fit; and Honda Ridgeline. MINI receives one model-level award for the MINI Cooper. The Vehicle Dependability Study is used extensively by manufacturers and suppliers worldwide to help them design and build better vehicles, which typically translates into higher resale values and customer loyalty. It also helps consumers make more-informed choices for both new- and used-vehicle purchases. The 2014 Vehicle Dependability Study is based on responses from more than 41,000 original owners of 2011 model-year vehicles after three years of ownership. The study was fielded between October and December 2013. -
For the first time in sixteen years, J.D. Power and Associates says data from its recent vehicle dependability study shows that the average number of problems per 100 cars has increased. This year's study charted 2011 models over three years of ownership and tracked the number of problems. Looking at first-owner cars from the 2011 model year, J.D. Power reports an average of 133 problems per 100 cars (or shorten to PP100). This is an increase of six percent when compared to 2010's 126 PP100 average. The reason for this climb in problems comes down to problems with engines and transmissions. J.D. Power found that engines and transmissions problem accounted for a 6 PP100 boost. "Automakers are continually looking for ways to improve fuel economy, which is a primary purchase motivator for many consumers, particularly those buying smaller vehicles. However, while striving to reduce fuel consumption, automakers must be careful not to compromise quality. Increases in such problems as engine hesitation, rough transmission shifts and lack of power indicate that this is a continuing challenge," said David Sargent, vice president of global automotive at J.D. Power. Among individual brands, Lexus ran away with the most dependable brand title for the third year in a row. With just 68 problems per 100 vehicles, the brand was far ahead of Mercedes-Benz (104 PP100), Cadillac (107 PP100), Acura (109 PP100), and Buick (112 PP100). Source: J.D. Power William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] you can follow him on twitter at @realmudmonster. Press Release is on Page 2 2014 Vehicle Dependability Study 2/12/2014 J.D. Power Reports: Increased Engine and Transmission Problems Contribute to Decline in Vehicle Dependability for The First Time in More Than 15 Years General Motors Company Receives Eight Segment Awards, While Toyota Motor Corporation Garners Seven and Honda Motor Company Earns Six WESTLAKE VILLAGE, Calif.: Owners of 3-year-old vehicles (2011 model year) report more problems than did owners of 3-year-old vehicles last year, according to the J.D. Power 2014 U.S. Vehicle Dependability StudySM (VDS) released today. The study, now in its 25th year, examines problems experienced during the past 12 months by original owners of 2011 model-year vehicles. Overall dependability is determined by the number of problems experienced per 100 vehicles (PP100), with a lower score reflecting higher quality. The study finds that overall vehicle dependability averages 133 PP100, a 6 percent increase in problems from 126 PP100 in 2013. This marks the first time since the 1998 study that the average number of problems has increased. "Until this year, we have seen a continual improvement in vehicle dependability," said David Sargent, vice president of global automotive at J.D. Power. "However, some of the changes that automakers implemented for the 2011 model year have led to a noticeable increase in problems reported." Increases in Engine and Transmission Problems Reported Engine and transmission problems increase by nearly 6 PP100 year over year, accounting for the majority of the overall 7 PP100 increase in reported problems. The decline in quality is particularly acute for vehicles with 4-cylinder engines, where problem levels increase by nearly 10 PP100. These smaller engines, as well as large diesel engines, tend to be more problematic than 5- and 6-cylinder engines, for which owners report fewer problems, on average. "Automakers are continually looking for ways to improve fuel economy, which is a primary purchase motivator for many consumers, particularly those buying smaller vehicles," said Sargent. "However, while striving to reduce fuel consumption, automakers must be careful not to compromise quality. Increases in such problems as engine hesitation, rough transmission shifts and lack of power indicate that this is a continuing challenge." Dependability Leads to Loyalty; Poor Dependability Creates Avoidance J.D. Power also finds that the fewer problems owners experience with their vehicle, the greater their loyalty to the brand. Combined data from previous years' VDS results and vehicle trade-in data from the Power Information Network® (PIN) from J.D. Power show that 56 percent of owners who reported no problems stayed with the same brand when they purchased their next new vehicle. Brand loyalty slipped to just 42 percent among owners who reported three or more problems. Also, a comparison of data from the 2013 Vehicle Dependability Study with data from the subsequent J.D. Power 2014 U.S. Avoider StudySM shows that consumers are much more likely to avoid vehicles from brands that rank lower in dependability. On average, 23 percent of consumers avoided brands that ranked in the lowest quartile of the 2013 VDS because of concerns about reliability. In contrast, only 9 percent of consumers cited that same reason for avoiding brands that ranked in the top quartile. "By combining our customer research with trade-in data, we see a very strong correlation between dependability and real-world brand loyalty," said Sargent. "Also, we see that brands with lower dependability are likely to be shut out of a significant piece of the market, as many consumers will not even consider purchasing one of their vehicles because of concerns about its likely reliability." Highest-Ranked Nameplates and Models Lexus ranks highest in vehicle dependability among all nameplates for a third consecutive year. The gap between Lexus and all other brands is substantial, with Lexus averaging 68 PP100 compared with second-ranked Mercedes-Benz at 104 PP100. Following Mercedes-Benz in the rankings are Cadillac (107), Acura (109) and Buick (112), respectively. General Motors Company receives eight segment awards?more than any other automaker in 2014?for the Buick Lucerne; Cadillac DTS (tie); Cadillac Escalade; Chevrolet Camaro; Chevrolet Volt; GMC Sierra HD; GMC Sierra LD; and GMC Yukon. Toyota Motor Corporation garners seven awards for the Lexus ES; Lexus GS; Lexus LS (tie); Lexus RX; Scion xB; Toyota Camry; and Toyota Sienna. Honda Motor Company receives six model-level awards for the Acura RDX; Honda CR-V; Honda Crosstour; Honda Element; Honda Fit; and Honda Ridgeline. MINI receives one model-level award for the MINI Cooper. The Vehicle Dependability Study is used extensively by manufacturers and suppliers worldwide to help them design and build better vehicles, which typically translates into higher resale values and customer loyalty. It also helps consumers make more-informed choices for both new- and used-vehicle purchases. The 2014 Vehicle Dependability Study is based on responses from more than 41,000 original owners of 2011 model-year vehicles after three years of ownership. The study was fielded between October and December 2013. View full article
