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Just a few days ago, shareholders of Tesla approved an almost comical pay package for their
cult leader CEO Elon Musk that could potentially put $50 BILLION in his pocket over the next decade.
Let’s put this figure in perspective: at $5 billion per year, Musk would make more than every single CEO in the S&P 500. COMBINED.
In other words, if you add up the salaries of all the CEOs of the 500 largest companies in America, it would still be less than the $5 billion per year that Mr. Musk stands to earn.
That’s pretty astounding given that Tesla’s own 2017 4th quarter financial report (page 24) states that Elon “does not devote his full time and attention to Tesla”.
Only the charred rear half of a Tesla Model X remained intact Friday morning on a highway near Mountain View after the vehicle crashed into a carpool lane barrier and caught fire, with the trapped driver dying later from his injuries.
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The DAX legged lower, led by sliding shares of Volkswagen, BMW and Daimler after Germany’s top administrative court ruled German cities have the right to ban diesel cars, a move which could have far-reaching consequences for the 12 million vehicles in Europe’s largest auto market.
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Tesla wants the upcoming Model 3 to be the first electric car for everyone, but to do so, it’ll need a seriously amount of infrastructure in place. Fast charging is critical to the electric car’s success — drivers need to be able to top up the car’s juice in an emergency — but Tesla’s network of fast chargers might not be adequate for the company’s production targets.
We don’t know for sure how long the Model 3 will take to charge, but we can reach an approximation based on Tesla’s current range. The 90kWh Model S, with a range of 294 miles as tested by the EPA, takes around 10 hours to charge from a NEMA 14-50 power outlet. From a wall connector, that can drop to as low as five hours and 30 minutes.
Tesla gets crushed by the big boys.
Total new-vehicle sales in the US fell 5.2% year-over-year in December to 1.6 million units. For all of 2017, sales declined by 320,000 vehicles, or 1.8%, to 17.23 million units. It was the first overall decline since the Financial Crisis.
Compared to 2015, sales fell by 249,033 vehicles, or 1.4%. These sales are vehicles delivered by dealers to their customers, or delivered by automakers directly to large fleet customers, as reported by Autodata.
For the big three US automakers and some import brands it was the second year in a row of sales declines (two-year percent change from 2015):
- GM -2.7%
- Ford -1.1%
- Fiat Chrysler (FCA) -8.6%
- Toyota -2.6%
- BMW -12.6%
- Mazda -9.3%
The table below shows new-vehicle sales by automaker, sorted by total sales in 2017 (gray column). Automakers with declining sales in 2017 are marked in red. The green column shows the two-year percentage change from 2015:
But this time, there’s no Financial Crisis, and no QE in sight…
The asset class of beautiful machines is suffering. These assets range from a rare 1962 Ferrari 250 GTO Berlinetta, which sold for $38.1 million with impeccable timing in August 2014 before the peak, to American muscle cars that can be acquired for a few thousand bucks.
According to the Hagerty Market Index, prices of vintage automobiles that sold at private sales and at auctions fell 3% from a month ago, are down 7% for the year, and are down 17% from the all-time high in August 2015. This 17% drop from the peak is worse than the 16% drop from peak-to-bottom during the Financial Crisis.
The index in the January report, at 154.33, has now two declining years in a row under its belt.
For your entertainment…
Santa is arriving early this year, and he’s bringing gifts from Italy. The actual showcasing of the car is forestalled by about one full minute of branding bullshit, but Lamborghini just presented its first SSUV (yes, Super SUV) and while it looks a hoover ship straight out of the Matrix, we would opt for a test drive first before ordering it and heading out to the Alps with the family. Because although the interior looks astonishing, it doesn’t look like there’s much legroom in the back. And that can be a problem, just as any Aston Martin Rapide owner will tell you.
Well, we hear you think: “screw the kids, I want to reach the Alps, fast,” and if that’s your mantra, you’re in for a treat. The Urus has a 4.0 litre V8 twin-turbo engine and rocks 650 brake horsepower with 850 Nm of torque. So yeah, the thing is fast. So fast, that it will go from 0-100 km/h in 3,6 seconds and will not stop until it reaches 305 km/h. That’s faster than a Cayenne Turbo, but it must be said, the Cayenne can hold four adults, easily.