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02-26-2013, 11:21 AM
Filed under: Videos (http://www.autoblog.com/category/videos/), Hatchback (http://www.autoblog.com/category/hatchbacks/), Earnings/Financials (http://www.autoblog.com/category/earnings-financials/), Tesla (http://www.autoblog.com/category/tesla/), Electric (http://www.autoblog.com/category/electric/), Luxury (http://www.autoblog.com/category/luxury/)
http://www.blogcdn.com/www.autoblog.com/media/2013/02/tesla-ceo-elon-musk-bloomberg-tv.jpg (http://www.motorgen.com/2013/02/26/musk-says-new-york-times-debacle-may-have-cost-tesla-100/#continued)
Despite the old chestnut that there's no such thing as bad publicity, there's always a cost incurred - sometimes it's hidden, and sometimes it's front and center. Enigmatic Tesla (http://www.autoblog.com/tesla/) CEO Elon Musk (http://www.autoblog.com/tag/elon+musk/) seems to think his company's now-infamous Model S (http://www.autoblog.com/tesla/model+s/) range dustup with The New York Times is falling squarely into the latter category. According to Musk, fallout from the back-and-forth battle over the newspaper's cold-weather road trip story may have decimated Tesla's stock value by as much as $100 million. Musk believes the report resulted in a lot of cancelled orders, probably costing Tesla "a few hundred" Model S purchases.
According to the report, Tesla's shares have tumbled some 12 percent (going from $39.24 to $34.38) since the report was published. Bloomberg further notes that the company's market capitalization has skidded by around $553 million over that same period. With the company's stock-market value pegged at $3.91 billion, $100m represents a not insignificant chunk of money to Tesla.
So how does Musk feel about embattled Times writer John Broder, whose controversial report he previously called "fake" (http://green.autoblog.com/2013/02/11/nyts-tesla-model-s-trouble-report-is-fake-says-elon-musk/)? During the interview with Bloomberg TV, which you can watch below, Musk opines, "I don't think it should be the end of his career - I don't even think necessarily he should be fired - but I do think he fudged an article." No word has surfaced about any actions taken against Broder after his boss admitted (http://green.autoblog.com/2013/02/19/new-york-times-admits-tesla-model-s-writer-didnt-use-go/) he did "not especially" exercise "good judgement" in the course of his reporting.
There's a lot of interesting ground covered in the Musk interview, including a discussion on the impact of early adopters on Model S sales, as well as how demand might be affected if the federal $7,500 tax credit were to end, so check it out by scrolling below (http://www.motorgen.com/2013/02/26/musk-says-new-york-times-debacle-may-have-cost-tesla-100/#continued).Continue reading Musk says New York Times debacle may have cost Tesla $100 million (http://www.autoblog.com/2013/02/26/musk-says-new-york-times-debacle-may-have-cost-tesla-100/)
Musk says New York Times debacle may have cost Tesla $100 million (http://www.autoblog.com/2013/02/26/musk-says-new-york-times-debacle-may-have-cost-tesla-100/) originally appeared on Autoblog (http://www.autoblog.com) on Tue, 26 Feb 2013 13:28:00 EST. Please see our terms for use of feeds (http://www.weblogsinc.com/feed-terms/).
Permalink (http://www.autoblog.com/2013/02/26/musk-says-new-york-times-debacle-may-have-cost-tesla-100/) | Email this (http://www.autoblog.com/forward/20478762/) | Comments (http://www.autoblog.com/2013/02/26/musk-says-new-york-times-debacle-may-have-cost-tesla-100/#comments)
More... (http://www.autoblog.com/2013/02/26/musk-says-new-york-times-debacle-may-have-cost-tesla-100/)
http://www.blogcdn.com/www.autoblog.com/media/2013/02/tesla-ceo-elon-musk-bloomberg-tv.jpg (http://www.motorgen.com/2013/02/26/musk-says-new-york-times-debacle-may-have-cost-tesla-100/#continued)
Despite the old chestnut that there's no such thing as bad publicity, there's always a cost incurred - sometimes it's hidden, and sometimes it's front and center. Enigmatic Tesla (http://www.autoblog.com/tesla/) CEO Elon Musk (http://www.autoblog.com/tag/elon+musk/) seems to think his company's now-infamous Model S (http://www.autoblog.com/tesla/model+s/) range dustup with The New York Times is falling squarely into the latter category. According to Musk, fallout from the back-and-forth battle over the newspaper's cold-weather road trip story may have decimated Tesla's stock value by as much as $100 million. Musk believes the report resulted in a lot of cancelled orders, probably costing Tesla "a few hundred" Model S purchases.
According to the report, Tesla's shares have tumbled some 12 percent (going from $39.24 to $34.38) since the report was published. Bloomberg further notes that the company's market capitalization has skidded by around $553 million over that same period. With the company's stock-market value pegged at $3.91 billion, $100m represents a not insignificant chunk of money to Tesla.
So how does Musk feel about embattled Times writer John Broder, whose controversial report he previously called "fake" (http://green.autoblog.com/2013/02/11/nyts-tesla-model-s-trouble-report-is-fake-says-elon-musk/)? During the interview with Bloomberg TV, which you can watch below, Musk opines, "I don't think it should be the end of his career - I don't even think necessarily he should be fired - but I do think he fudged an article." No word has surfaced about any actions taken against Broder after his boss admitted (http://green.autoblog.com/2013/02/19/new-york-times-admits-tesla-model-s-writer-didnt-use-go/) he did "not especially" exercise "good judgement" in the course of his reporting.
There's a lot of interesting ground covered in the Musk interview, including a discussion on the impact of early adopters on Model S sales, as well as how demand might be affected if the federal $7,500 tax credit were to end, so check it out by scrolling below (http://www.motorgen.com/2013/02/26/musk-says-new-york-times-debacle-may-have-cost-tesla-100/#continued).Continue reading Musk says New York Times debacle may have cost Tesla $100 million (http://www.autoblog.com/2013/02/26/musk-says-new-york-times-debacle-may-have-cost-tesla-100/)
Musk says New York Times debacle may have cost Tesla $100 million (http://www.autoblog.com/2013/02/26/musk-says-new-york-times-debacle-may-have-cost-tesla-100/) originally appeared on Autoblog (http://www.autoblog.com) on Tue, 26 Feb 2013 13:28:00 EST. Please see our terms for use of feeds (http://www.weblogsinc.com/feed-terms/).
Permalink (http://www.autoblog.com/2013/02/26/musk-says-new-york-times-debacle-may-have-cost-tesla-100/) | Email this (http://www.autoblog.com/forward/20478762/) | Comments (http://www.autoblog.com/2013/02/26/musk-says-new-york-times-debacle-may-have-cost-tesla-100/#comments)
More... (http://www.autoblog.com/2013/02/26/musk-says-new-york-times-debacle-may-have-cost-tesla-100/)