0

Could Tesla price cuts mean demand is slowing

first_imgDETROIT — Tesla made about 9,300 more vehicles than it delivered last year, raising concerns among industry analysts that inventory is growing as demand for the company’s electric cars may be starting to wane.If demand falls, they say, the company will enter a new phase of its business. Like other automakers, Tesla will have to either cut production or reduce prices to raise sales. A drop in demand could also curtail the company’s earnings and jeopardize CEO Elon Musk’s promise to post sustained quarterly profits.On Wednesday, Tesla did cut prices, knocking $2,000 of each of its three models. The company said the cuts will help customers deal with the loss of a $7,500 federal tax credit, which was reduced to $3,750 this month for Tesla buyers and will gradually go to zero by the end of 2018.“They have for a long time had more demand than supply,” Gartner analyst Michael Ramsey said. “It’s becoming apparent that that dynamic is changing.”Tesla reported that it produced 254,530 cars and SUVs last year and delivered 245,240.The company’s deliveries for the full year matched Wall Street estimates, but its figures for the fourth quarter didn’t reach expectations. Tesla said it delivered 90,700 vehicles from October through December. Analysts polled by data provider FactSet expected 92,000.Jeff Schuster, a senior vice-president at the forecasting firm LMC Automotive, said demand for Tesla’s lower-priced Model 3 has been artificially high for the past six months as the company overcame production problems at its Fremont, California, factory.“You’ve had these inflated months because of delayed deliveries,” Schuster said. “We’re probably getting to that point where we’re getting to equilibrium and consumers aren’t necessarily waiting for vehicles.”Last year, Tesla reported that about 420,000 buyers had put down $1,000 deposits to join the Model 3 waiting list.LMC predicts that Tesla U.S. sales will rise in 2019 because it’s the first full year on the market for the Model 3. It anticipates sales to then fall by about 10,000 in 2020.Losing the tax credit will hit those who have been holding out for the $35,000 version of the Model 3, Schuster said. At present, Tesla is selling only versions that cost more than $45,000. Under federal law, buyers get the full tax credit until a manufacturer reaches 200,000 in sales since the start of 2010. Tesla hit 200,000 in July but the full credit continued for vehicles delivered by Dec. 31. It was cut in half on Jan. 1 and will go away by the end of the year.“You’ve had your early adopters, those early followers have already come in” to buy, Schuster said. “Now you’re trying to appeal to the mainstream market. I think that will have an impact on overall demand.”At the same time, inventory appears to be swelling. The company parked hundreds of cars at lots and Tesla stores all over the country at the end of last year, which could indicate excess stock. Tesla wouldn’t give inventory numbers but said it has lower stocks than its two biggest competitors, BMW and Mercedes.The Associated Press found one lot on the north side of Chicago where Tesla was storing dozens of vehicles in late December, and Mark Spiegel, a hedge fund manager who bets against Tesla stock, said other lots were full across the country.Tesla said it sometimes stores vehicles on lots as they’re being shipped to company dealerships across the nation. The lot in Chicago has fewer cars on it today, the company said. “Our inventory levels remain the smallest in the automotive industry,” the company said Wednesday.Tesla also says Model 3 sales should grow worldwide as it expands distribution and begins to offer leases. Deliveries in Europe and China will start in February, and a right-hand-drive version is coming later in the year, the company said.In addition, inventory dropped in the fourth quarter as Tesla “delivered a few thousand vehicles more than produced.”Tesla said it had about 3,000 vehicles in transit to customers at year’s end. But even with that number, Schuster said production still exceeded deliveries, which doesn’t fit Tesla’s business model of building cars when they are ordered by customers. Still, even at 9,300, Tesla’s inventory is smaller than other automakers that have to stock dealerships, Schuster said.Tom Krisher, The Associated Presslast_img read more

0

India mauls Poland 100 in Azlan Shah Cup

first_imgIpoh (Malaysia): With their final berth already sealed, India toyed with Poland and thrashed them 10-0 in their final group stage game of the Sultan Azlan Shah Cup here on Friday. With four wins and a draw, India lead the six-team league table with 13 points and a goal difference of +18. India will face South Korea in the final on Saturday. It was a one-sided battle from start to finish with India demonstrating their attacking prowess to the fullest. Also Read – Puducherry on top after 8-wkt win over ChandigarhIndia were two goals to the good inside the first seven minutes. Vivek Prasad scored the first goal while Sumit converted Mandeep Singh’s pass to make it 2-0. The Indians were all over Poland as the 21st ranked team in the world failed to stave off their opponent’s repeated forays inside the circle. In the 18th minute, Varun Kumar’s flick saied into the net to make it 3-0 while Surender Kumar added the fourth a minute later. It was one way traffic all the way as Varun doubled his tally with Simranjeet also getting on the scoresheet in the 29th minute. At the end of the first period, Indians had raced to a 6-0 lead. The script was no different in the second, as India continued to dominate. Nilakanta scored India’s seventh goal after Sumit set him up inside the circle. Mandeep then struck back-to-back goals in the 50th and 51st minute while and Amit Rohidas found the back of the net in the 55th minute to round off a massive 10-0 victory.last_img read more

0

HC grants time to ED to file response on maintainability of Robert

first_imgNew Delhi: The Delhi High Court on Thursday granted more time to the Enforcement Directorate (ED) to file an affidavit regarding the maintainability of Robert Vadra’s plea seeking quashing of a money laundering case in which he was questioned by the probe agency.A bench of Justices Hima Kohli and Vinod Goel directed the ED to file the response within a week and listed the matter for further hearing on July 18. The court asked Vadra and his close aide Manoj Arora to file their rejoinder to the ED’s affidavit in two weeks thereafter. Also Read – 2019 most peaceful festive season for J&K: Jitendra SinghCentral government standing counsel Amit Mahajan, appearing for the ED, said the short affidavit was almost ready and they require some more time to file it. The court had earlier on March 25 asked the probe agency to file its response in the form of an affidavit regarding the maintainability of two separate but similar petitions by Vadra and Arora within two weeks. The ED had opposed Vadra’s plea, saying it was not maintainable as he “wilfully suppressed” material facts from the court. Also Read – Personal life needs to be respected: Cong on reports of Rahul’s visit abroadIt had contended that the plea of Vadra, brother-in-law of Congress president Rahul Gandhi, was an abuse of process of law. When he feared that “law will catch him, he challenged the PMLA provisions”, it had added. The ED case relates to allegations of money laundering in the purchase of a London-based property at 12, Bryanston Square, worth 1.9 million pounds. The property is allegedly owned by Vadra. Vadra has also sought that various provisions of the Prevention of Money Laundering Act (PMLA), 2002, be declared unconstitutional. Vadra has sought in his plea that Sections 3, 17, 19, 24, 44 and 50 of the PMLA be declared ultra vires or unconstitutional.last_img read more

0

Baseball Ohio State comes up empty in trip to South Carolina

Ohio State freshman right fielder Dominic Canzone bats in the bottom of the seventh inning against North Carolina Greensboro. Credit: Edward Sutelan | Lantern reporterThe Ohio State baseball team (7-8) lost all three games in the Greenville Drive First Pitch Invitational. The drive from Greenville, South Carolina to Spartanburg, South Carolina did not prove to be refreshing, as the Buckeyes also dropped their fifth-straight game on Tuesday.  Michigan StateThe Buckeyes fell to a Michigan State squad fueled by early runs and stellar pitching. Michigan State (3-10) defeated Ohio State 7-1 on Saturday. Spartans junior pitcher Mike Mokma went the distance in the 11-strikeout win. Mokma allowed seven hits in his nine innings of work, leaving with a 2.05 ERA on the year. The Spartans added three runs in the first inning to give Mokma early run support. Senior third baseman Ando Royce had two hits and three RBIs. Ohio State freshman pitcher Garrett Burhenn picked up his first loss of the season, falling to 2-1 on the year. Burhenn allowed seven runs in five innings. Freshman pitcher TJ Brock put in three hitless innings of relief for the Buckeyes. He recorded five strikeouts in the process. Western Carolina A big inning plagued the Buckeyes, as they dropped their third straight game. Ohio State fell to Western Carolina (8-5) in a score of 8-5. A five-run seventh inning propelled the Catamounts to a comfortable four-run victory. Junior right fielder Dominic Canzone hit a solo home run for the Buckeyes, his fourth of the year, to put the Buckeyes up 4-3 going into the bottom of the seventh inning. Ohio State freshman pitcher Mitch Milheim allowed four runs in the bottom of the inning, picking up his first loss of the year. Despite producing 11 hits, Ohio State stranded 12 baserunners in the loss. Western Carolina junior pitcher Jacob Corn received his second win of the season, as he allowed two runs in 2 2/3 innings of relief. FurmanDespite producing 10 runs, Ohio State dropped its fourth straight game in dramatic fashion Monday. The Buckeyes were outscored 11-10 in 10 innings against Furman (4-9). A solo home run by senior first baseman John Boswell ended the game, giving the Paladins its second win in three games. The Buckeye offense recorded a season-high 15 hits. Four Buckeyes produced at least three hits in the loss. Ohio State junior first baseman Conner Pohl recorded four hits and one RBI. Senior left fielder Brady Cherry added three RBIs, hitting his fourth home run of the season. The Buckeyes led 10-8 heading into the bottom of the ninth inning. After two throwing errors put two runners in scoring position, a ground out reduced the lead to one with two outs and put a runner on third. A single knocked in the tying run to extend the game. Ohio State freshman pitcher Will Pfenning received the loss. Furman freshman pitcher Rob Hughes picked up his second win of the season; he has no earned runs in 15 innings of work. Wofford The Buckeyes could stop the bleeding, dropping their fifth straight in a loss to Wofford. Ohio State lost 8-6 to Wofford (11-6), despite jumping out to a 5-1 lead through three innings. The Terriers’ offense produced seven runs in the next four innings to secure the lead and ultimately the win. Wofford sophomore starting pitcher David Yourke struggled early, allowing five earned runs in four innings. The relief for the Terriers rebounded, however, allowing only one run in the final five innings. The pitching for Ohio State did not excel against a talented Wofford batting order. Freshman third baseman John Dempsey produced three RBIs, including a solo home run in the bottom of the sixth inning. Senior left fielder Brady Cherry had a three-hit performance for the Buckeyes that included two RBIs and two doubles. Cherry is now batting .344 on the season. Ohio State junior pitcher Andrew Magno received the loss, while Wofford junior pitcher Rasesh Pandya earned the win. read more

0

Arjen Robben remaining calm at Bayern Munich

first_imgBayern Munich winger Arjen Robben is refusing to panic after their surprising home draw with Ajax in the Champions League on TuesdayThe Bundesliga champions took an early lead at the Allianz Arena through Mats Hummels before Noussair Mazraoui put Ajax back on level terms 22 minutes later to settle the score at 1-1.It means that Bayern have gone three games without a win, but Robben is opting to remain calm and insists only a victory is needed to get them back on track,“There is always something coming from outside. We have to be realistic and to analyse our situation properly,” Robben told reporters.Jadon SanchoMerson believes Arsenal should sign Sancho Manuel R. Medina – September 14, 2019 Borussia Dortmund winger Jadon Sancho might be the perfect player to play for the Gunners, according to former England international Paul Merson.“Obviously, we are not used to it and it is not our goal. But as I said, it’s not possible that within a week, everything turns bad.“But that’s football, you need a victory to get back on track.”Bayern captain Manuel Neuer also believes that things will quickly turn around for Bayern, who will next host Borussia Monchengladbach on Saturday in the Bundesliga.Niko Kovac’s side are second in Group E behind Ajax on goal difference with four points in the Champions League.last_img read more

0

BAHAMAS Conch facing sharp declines development and poachers blamed

first_imgFacebook Twitter Google+LinkedInPinterestWhatsApp#Bahamas, December 19, 2017 – Nassau – The Bahamian conch is in grave danger and while there is dispute on how much danger the mollusk is facing when it comes to its population; there is no doubt that something must be done to save the Bahamian conch and the conch fishing industry.    An InterAmerican Development Bank report says that declines are at 80% and that one way to stem the drastic drop in conchs is to cut back on exportation.The Bahamas Commercial Fisheries Alliance, BCFA said that suggestion was made before by their organization and he disputes that the decline in conchs is as high as 80%.   The IDB report supports a half a million dollar project, to be spearheaded by the Bahamas National Trust, which is to unravel in the Family Islands.   The report also said that significant number of families are impacted by the fall in conch numbers; this impacts food security and the economy – in fact the IDB says fishing for conch has now become unviable, ie, a waste of time for 9,000 fisherman.It is a staggering analysis which Adrian LaRoda, President of the BCFA explained is mainly caused by  foreign poachers and increased coastal development.   Tribune Business carries the story where the IDB report outlines that “Densities in the Bahamas have dropped since the 1980s from 50 per hectare to 10 per hectare, a density too low to sustain reproduction.   Low queen conch densities observed at several Family Islands such as Andros Island suggest that queen conch fishing is no longer viable in some locations.”#MagneticMediaNews#conchfacingsharpdecline Related Items:#conchfacingsharpdecline, #magneticmedianews Facebook Twitter Google+LinkedInPinterestWhatsApplast_img read more

0

5 states of India go to polls

first_imgUttar Pradesh state Chief Minister Akhilesh Yadav waves to the crowd during a joint election rally with the Congress party Vice president in Agra. Photo: AFPMillions of Indians began voting Saturday in regional elections seen as the first major test of Prime Minister Narendra Modi’s party after his controversial move to ban all high-value notes last year.Five Indian states will elect new governments over the next five weeks in a multi-phased election, with voting kicking off in northern Punjab and coastal Goa in the west.Modi’s bold move to ban the notes that made up 86 percent of the currency was aimed at curbing widespread tax evasion, but has also dented growth and caused widespread pain to the millions of Indians who lack access to formal banking.His personal popularity has remained high well into his first term, but the elections are being seen as a test of its endurance.In a tweet Saturday morning, the Hindu-nationalist leader called on voters in the first phase to exercise their right to vote.“Urging people of Punjab and Goa to turnout in record numbers and vote in the Assembly elections,” he said.Residents were seen queueing outside polling booths across both states, where more than 40 million voters are eligible to cast their ballots to elect a total of 157 legislators.Massive security arrangements were in place to ensure violence-free voting, with hundreds of thousands of security forces personnel on guard outside pollings stations.Modi’s party is likely to lose out in Punjab, where it has been in power alongside its regional alliance partner since 2007, but also where a turnaround for the centre-left opposition Congress Party is possible.Rahul Gandhi, the 44-year-old Nehru-Gandhi family scion who is seen as the party’s next head, has pulled out all the stops to revive its fortunes, facing criticism after a series of state election defeats.“It is the most important election for the Congress party which needs a victory on its own,” said Nistula Hebbar, political editor with The Hindu newspaper.“The erosion of its political support has been spectacular. More than anyone, Rahul Gandhi needs a standalone victory to silence critics both outside and within the party,” she added.Big testBut the biggest test for Modi will be in India’s most populous state Uttar Pradesh (UP), where the ruling Bharatiya Janata Party (BJP) won big in the 2014 general election.The state is important because it sends the highest number of MPs to the upper house of the national parliament, where the BJP currently lacks a majority.The northern state of Uttarakhand and Manipur in the northeast will also elect new governments, with results for all five states due on 11 March.“The immediate conclusion that can be drawn for the Bharatiya Janata Party (BJP) is whether the larger politics behind demonetisation… has worked or not,” Kanchan Gupta, commissioning editor with ABP News, told AFP.“It would also be a reflection on whether in these two-and-a-half years, the national government has been able to perform with a credibility that overwhelms the performance of individual state governments.”Modi needs to win state elections to gain more seats in the nation’s upper house of parliament, which has blocked reforms seen as crucial to fuelling the economic growth it has promised voters.Most members of the upper house are indirectly elected by state legislatures.A stellar performance by Modi’s party in UP propelled him to national victory in 2014 and the state offers its best chance to take more seats in the upper house.“The BJP swept Uttar Pradesh with the largest chunk of MPs in 2014. A defeat here would signal that there has been erosion of support for Mr Modi,” said Hebbar.last_img read more

0

The Experts Known As Ice Meisters Create Perfect Olympic Skating Surfaces

first_imgFrancois-Xavier Marit/AFP/Getty ImagesRussian athletes compete with Britain during the curling women’s round-robin session on Feb. 14. Curling ice is textured with tiny dots called pebbles.In the Winter Olympics, where races can be won or lost by thousandths of a second, tiny imperfections can make all the difference.Nowhere is this more true than in the ice venues, where skilled technicians called “ice meisters” have honed their expertise over years of crafting the perfect surface.Make that surfaces: It turns out that all ice is not created equal.Depending on the sport, the ice might need to be softer or harder, colder or warmer, textured or smooth.Take long track speedskating, raced on the 400-meter rink at the Gangneung Oval, where ice meister Mark Messer is in charge.Messer, from Calgary, Alberta, explains that long track speedskating requires the coldest ice of any Olympic sport: between 14 and 21 degrees Fahrenheit.It’s also the hardest ice.“We’re trying to get as little friction as possible,” he explains, “so we have to make a balance between grip and glide. We need to have enough grip so that the skate can get a good push off it. But then we want them to glide as far as possible, so that there’s less effort expended for the long distance.”Long track ice is built to be about 1 inch thick, and, Messer says, it needs to be as dense as possible to make it stronger. To accomplish that, the ice team filters the water to take almost all the minerals out.Ed Jones/AFP/Getty ImagesSouth Korea’s Cha Jun-hwan competes in the men’s single skating short program. Figure skaters need warmer, thicker, more supple ice so they can dig in for jumps.“We leave a little bit in there to kind of hold everything together,” he says, “and the other thing that we have to get out is air.”Standing rinkside as skaters take practice runs around the pristine, gleaming Oval, Messer has the look of a satisfied craftsman.“Yeah, it looks good,” he says, noticing a dusting of what looks like light snow kicked up in the corners. “When they’re skating and the ice is hard, you get a little puff of snow, and if they’re goin’ in there and there are chunks comin’ out, then we know we’ve gone a little bit too hard.”Good ice, he says, has a certain sound, too: “Very nice and quiet. If it’s not good ice, the blades will kinda grind in the ice. And it’s a nice and clean sound here.”Messer, who has made ice in five Olympics, strives for perfection.“Our mantra is that we don’t say, ‘That’s good enough.’ It’s always, ‘Is that as good as it can be?’ And that’s what we try to do here.”So far in the Pyeongchang Olympics, long track speedskaters have set six Olympic records on the Oval. Nothing makes Messer happier.“I still get a thrill when I see people crossing the finish line with a good time,” he says. “That’s incredible. We take a huge pride in that.”Skaters will tell you they know instantly if the ice is great or not.“One of the first things we do when we step on the ice is, like, ‘How’s this ice?’ ” says Lana Gehring, who’s on the U.S. short track speedskating team.Amin Mohammad Jamali/Getty ImagesSkaters compete in the 1,500-meter women’s short track. The ice for short track speedskating is thicker and warmer than long track ice. Hockey ice is warmer still.Speedskaters get a lot of information transmitted through a blade that’s just a millimeter thick.“All that input is coming directly up to our body,” she says, “so we’re able to tell right away if it’s dense, if it’s grippy, if it’s breaky, if it’s too rough.”The ice for short track speedskating is thicker and warmer than long track ice. Hockey ice: a bit warmer still.But in the games, short track speedskating shares a rink with figure skating. Two totally different sports with different ice needs are holding competitions in the same ice arena.The arena’s ice meister, Remy Boehler of France, explains that figure skaters need warmer, thicker, more supple ice so they can dig in for jumps. If the ice is too hard and cold, it will “explode” when they land, he warns. But short track speedskaters need colder, faster ice in that same venue.It takes about three hours to adjust the temperature from one sport to the other.The best way for Boehler to tell if he’s got it right? “What I use most are my ears,” he says. “I use them all the time. When I arrive, I take off my cap so I can really listen to the sound of the blades, if they’re gliding or cracking.”Roland Harrison/Action Plus via Getty ImagesThe Gangneung Oval, the venue for speedskating, is prepared before competition begins.And when the ice is great, he can tell by the skaters’ faces. They’ll take to the ice — and smile.“That’s the best feeling of all,” he says.And then there’s ice for curling — a totally different animal.Look closely at the ice sheets, and you’ll see they’re not smooth. They’re textured with tiny dots called pebbles.The ice meister of the Winter Olympics curling venue, Hans Wuthrich of Gimli, Manitoba, says his team uses pebbling cans with 25 different pebble heads to sprinkle the ice with droplets. The idea is to reduce friction.“Those wee little water droplets,” he says, “they’re the thing that touches the bottom of the curling stone. That’s what the rock actually rides on and makes it go easy. And that’s also what makes it curl.”So when you’re watching these Olympics, think for a moment about the ice meisters. They devote their lives to creating ice that’s so perfect, you’ll never notice it at all.Copyright 2018 NPR. To see more, visit http://www.npr.org/. Sharelast_img read more