Tesla roundup: Shares down; sales in Arizona, N.J.; special delivery from Elon Musk

Some parties along for the Tesla roundup ride today are investors, car dealers and yes, the state of New Jersey.

• As the tech sell-off continues, Tesla shares are down more than 2.5 percent as of this post, recovering from a steeper decline in earlier trading. Dana Hull wrote for this year’s Mercury News SV 150 special report that in 2013, Tesla’s shares had zoomed up right along with the company’s revenue and success. But the Palo Alto company’s stock is reportedly the most shorted amid the current sell-off. Besides the overall tech malaise, there has been some skepticism surrounding CEO Elon Musk’s grand plans for a battery “Gigafactory” — including from potential partner Panasonic.

• In news about the electric-car maker’s issues with selling its cars directly to customers — auto dealerships are up in arms over it — a bill that would have allowed the company to open stores in Arizona has died in the state senate.

(The author of the measure, Republican Sen. John McComish, told the Wall Street Journal that “it doesn’t help our chances” of winning a bid to be the site of the aforementioned giga factory, which theoretically would employ thousands of workers. Other states said to be in the running for the factory are Texas, Nevada and New Mexico.)

By the way, remember the brouhaha in New Jersey over the direct-sales issue? Today’s the day Tesla must close its stores in that state.

• Finally, Tesla is expected to begin deliveries in what is obviously a key market — China — this month. And speaking of keys, the company says Musk will be personally handing over the “keys” (OK, key fobs) to some new Model S owners there.

 

Photo:  Tesla CEO Elon Musk, shown above in 2011, is expected to personally deliver some Model S cars to China buyers. ((Jim Gensheimer/Bay Area News Group)

 

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  • Ed

    It looks like they want to build the factory in a state that mirrors China in wages and work conditions. America is becoming more like China every day, the super rich and the super poor.

  • A B

    I can see why the big auto companies don’t want Tesla selling directly to the general public in their state , because they Cannot compete with Tesla for quality , value OR safety !!!

    I only hope car buyers in those states make the extra effort to order a Tesla ONLINE as their next vehicle . For me I’m waiting for a Tesla pick up truck .

    • Homer

      You’ll be waiting forever as they go out of business

  • Betty

    AB, simply overvalued, sales are slowing, there is no technology in the cars that Ford, Chevy, etc can not replicate. Lots of batteries is what makes this car special. ANyone can do this. I do like the car however. The other BS with all car companies is the real MPG. Tesla promoted 360 mile range. Can any other state allow that mileage due to use of heaters, A/C, etc.

    • A B

      Wait till model X SUV arrives in 6 months sales of both will pick up then model E in about 3 years things will be positive . I’ve owned GM cars and trucks for the past 45 years and keep them 30 years but lots of maintenance is required and the air pollution does not go away . If they can get those super chargers powered up by solar the future will look ever brighter for Tesla !

    • Michael P Donahue

      Actually, they have over 200 critical patents related to EVs, EV batteries and EV charging equipment, so the major automakers could replicate Tesla designs but would have to pay royalties to Tesla for nearly every component..

      • Homer

        Like the other companies have no patents on EV technology?

  • Homer

    Tesla stock is crashing after more and more people realize how Elon has conned everyone.

  • hoyt

    Who would pay $75,000+ for a car that could not win a race from NY to Pittsburgh against a 1971 Chevy Vega?

    • thousanth disquss ID

      Anyone except oil employed personnel on his pro industry propaganda tirade that keeps posting this over and over.

      I’ve come to realize anyone who has any anti green statement like this is probably one of the following: offshore oil rig worker, shale boomtown fracker, oil company exec /PR agent. Wall street oil investment guru, oil stock holders, diesel fuel distribution corporates. etc, etc

      Nothing they say has any merit because they’re on the job, spewing their pro industry hype. We wish they would stop pretending to be regular non industry everyday people who ACTUALLY have these opinions. There isn’t such a person.

 
 
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