Tesla CEO says stock-market value has dropped 100M USD because of NYT story

2013 Tesla Model S
2013 Tesla Model S

Shares have fallen 12 percent since Feb 8

Tesla Motors CEO Elon Musk blames The New York Times for a stock-market value drop of 100M USD.

In an interview given to Bloomberg Television this week, Musk said "it probably affected us to the tune of tens of millions, to the order of 100M USD." Since February 8 when NYT published the article, Tesla's shares have dropped by 12 percent from 39.24 USD to 34.38 USD.

Elon Musk added that without a 7,500 USD tax credit, Model S demand would go down by 10-20 percent. The American EV maker says the Model S will become profitable by the end of this quarter, excluding some costs. This year they plan on increasing production by a minimum of 25 percent.

Source: bloomberg

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Comments (11)

Voodoo-Nut Voodoo-Nut
I still think this is one of the most beautiful saloon vehicles out there...
Mar 1st, 2013 10:47am
1 1
Shotokan6 Shotokan6
Time to sue them. What are you waiting for Tesla?
Feb 28th, 2013 4:10am
2 2
Porsche3054 Porsche3054
Because it would cost more in court battles than they would actually get.
Feb 28th, 2013 5:29am
1 1
porsche6616 porsche6616
i don't need nyt to tell me this car is just a ugly american car... but pretends to be special..
Feb 28th, 2013 12:56am
2 4
TomitaBogdan TomitaBogdan
sue the living s*it out of NYC, and recover those money...
Feb 27th, 2013 9:54pm
3 3
Garais877 Garais877
so basicly becouse they made sh.t car and some dude did not like it and he was honest about it, than now its his fault, every day there is some bad review about Audi, Bmw or Merc and they do not complan about that, they just make better cars next time... :D
Feb 27th, 2013 9:44pm
3 5
CDspeed CDspeed
1) the New York Times article was faked and 2) Tesla isn't as big as Audi, BMW, or Mercedes so bad publicity hurts them easier. And the car isn't sh*t.
Feb 27th, 2013 11:05pm
2 3
buruchaga buruchaga
This car isn't sh.t and i'm not a fan of getting people unemployed. It is time for constructive criticism.
Feb 28th, 2013 11:50am
1 1
Garais877 Garais877
yee yee, but first impresion is always the best, you never now who is pulling witch strings, they probabley had no choese as simplay say that they faked the whole thing... but ofcourse you now better...
Feb 28th, 2013 4:16pm
1 1
CDspeed CDspeed
Tesla released the cars onboard data and proved that the car was not used as claimed. I know better because I've read all the articles since the NYT incident. It's a fact that it was faked. http://www.teslamotors.com/blog/most-peculiar-test-drive
Mar 1st, 2013 7:24pm
0 1
TimeShade TimeShade
I hope Broder gets fired and he doesn't get another reporting job. You may not think this is a big deal, and that the Tesla CEO is overreacting, but this is how many good companies become unprofitable. Saab, Rover, you name it. I don't want to see Tesla going the same way. I hope this doesn't have any serious impact on Tesla
Feb 27th, 2013 9:43pm
3 3