sales

Jerome Guillen, ex-Tesla exec, stock sales after June 3 departure

By Betty C. Morrow 4 months ago

US electric car maker Tesla Vice President Jerome Guillen poses at the Paris Auto Show on the last press day on October 3, 2014. The Paris Auto show opens to the public on Saturday.

Eric Piermont | AFP | Getty Images

Former Tesla executive Jerome Guillen sold more than $270 million worth of shares by exercising stock options after his departure on June 3, according to recent filings with the Securities and Exchange Commission.

Guillen became president of automotive in the third quarter of 2018, overseeing all of Tesla’s automotive business. During his tenure, the company opened its first plant overseas in Shanghai, expanded its battery cell supply partnerships and started mass-producing the Model Y.

But Tesla also struggled with quality issues, recalls and parts shortages under Guillen that significantly constrained production — the company produced zero Model S and X vehicles in the first quarter of the year before

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Monthly Car Sales Can Keep Going Strong. So Can Car Stocks.

By Betty C. Morrow 5 months ago

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New Subaru cars parked on a storage lot in California.


Justin Sullivan/Getty Images

Investors will get another number after Wednesday’s close that they should consider acting on—monthly U.S. auto sales.

May’s number will be solid if the figure from April is any indication. April’s total for light vehicles—monthly sales are reported as a seasonally adjusted annual rate, or SAAR—came in at 18.5 million, the highest reading since 2005, according to data available on Bloomberg.

That level shows demand is strong, despite a worldwide automotive semiconductor shortage that is limiting the supply of new vehicles—and driving car prices higher. In turn, the higher prices are pushing up auto stocks, a dynamic that can last longer than investors might expect.

Constrained production caused by the chip shortage, along with rising prices for commodities used in cars, sound like a recipe for stock market disaster. The cost of copper,

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Volkswagen ID.4 Tops Plug-In Car Sales In April 2021

By Betty C. Morrow 5 months ago

In April 2021, plug-in electric car sales in Europe increased by about five times year-over-year from a very weak April 2020, affected by lockdowns.

The total number of new passenger plug-in electric car registrations almost reached 160,000, which is 15% of the overall market (by the way, the automotive market slowly improves, but it is still far behind pre-lockdown levels).

Plug-in hybrids note a slightly better result of 7.9% of the market, compared to 7.1% all-electric cars.

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So far this year, some 617,000 passenger plug-in electric cars were registered in Europe. That’s also 15% of the total market.

Sales by type:

  • BEVs: about 6.7% of the market
  • PHEVs: about 8.3% of the market

In April, the two most popular models were Volkswagen ID.4 (7,565) and Volkswagen ID.3 (5,941). For the ID.4, it’s the first month on the top, while the ID.3 is returning to form, after a few slower

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Amelia Island Concours 2021 Results: Pre-War Cars Sales Beat Estimates

By Betty C. Morrow 5 months ago

After a year of online sales and virtual showings, car auctions are back for real—in a big way.

During the Amelia Island Concours d’Elegance May 20–23, collectors paid a premium for the world’s rare automotive classics in the largest live auction weekend event since the coronavirus pandemic began. Many lots went for well over their high estimates.

Together the two auction houses that sold during the annual car show off the coast of Florida amassed sales of $61.3 million, up from $57.2 million in March of 2020. (The event is traditionally held at the Golf Club of Amelia Island in early March every year; for 2021 organizers pushed it to May).  

The top seller was a 1929 Duesenberg Model J Murphy Torpedo Convertible Coupe that RM Sotheby’s sold for $5,725,000, more than $1 million over its $4 million high estimate. It was the third-highest auction price ever paid for

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