Tesla
Motors Inc. (TSLA) , the electric-car maker led by Elon Musk, should
report second-quarter Model S sales gains in China that compensate for
softer European demand, Barclays Plc analyst Brian Johnson said. Initial
quarterly delivery data from the Asian nation “demonstrate the
increased…
Bloomberg
Tesla’s China Exports to Be Quarterly Bright Spot, Barclays Says
Tesla Motors Inc. (TSLA), the electric-car
maker led by Elon Musk, should report second-quarter sales of
its Model S that show China compensating for softer European
demand for the sedan, Barclays Plc analyst Brian Johnson said.
The company will probably meet its forecast of delivering
7,500 of the cars during the quarter, said Johnson, who rates
Palo Alto, California-based Tesla the equivalent of a hold.
Achieving that goal will be the result of China-bound shipments,
he said in a research note yesterday.
Initial quarterly delivery data from the Asian nation
“demonstrate the increased importance that China will need to
play in meeting Model S guidance for 2014 to compensate for
apparently plateauing demand in Europe and North America,”
Johnson said. “A solid debut in China appears to have
compensated for a softening in Europe.”
Musk, 43, traveled to China in April to mark the start of
deliveries of Tesla’s flagship sedan to the world’s biggest auto
market. The company’s chief executive officer and biggest
shareholder has said Tesla’s sales volume in China may match
that of the U.S. as early as 2015.
The U.S. company may have delivered as many as 1,300 units
in China during the quarter, Johnson said, citing Chinese media
reports. Tesla hasn’t said when it will release second-quarter
results.
Photographer: Lam Yik Fei/Bloomberg
A man test drives a Tesla Motors Inc. Model S sedan electric vehicle in the area of... Read More
Tesla fell 2.9 percent to $222.66 yesterday in New York.
The stock has risen 48 percent this year.
Hollywood Crash
Separately, the carmaker is awaiting details of an
investigation by the Los Angeles County Sheriff’s Department of
a high-speed crash early July 4 in the West Hollywood
neighborhood of Los Angeles involving a stolen Model S.
After eluding Los Angeles police officers, the driver
struck other cars and smashed into a light pole that sheared the
electric vehicle in two, according to the sheriff’s department.
That damaged the car’s lithium-ion battery pack, which
eventually began to burn.
At least seven people were injured in the incident,
including the driver who stole the Tesla, the sheriff’s
department said. The crash investigation was still at a
preliminary stage and details weren’t complete, Sergeant Daniel
Dail said in an e-mail yesterday. Tesla has offered assistance
reviewing the vehicle’s data collection devices, he said,
without elaborating.
Simon Sproule, a Tesla spokesman, said on July 5 that the
company is eager to review the wrecked vehicle.
To contact the reporter on this story:
Alan Ohnsman in Los Angeles at
aohnsman@bloomberg.net
To contact the editors responsible for this story:
Jamie Butters at
jbutters@bloomberg.netJohn Lear, Bruce Rule
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