Elio Motors, Inc. has announced it plans to sell 100 pre-production vehicles before full scale production.

Vehicles are Key Step To Refining Final Consumer Production Projected to Begin in 2017

Elio Motors, Inc. (OTCQX: ELIO), the startup vehicle manufacturer planning to launch a three-wheeled vehicle that will get up to 84 MPG with a targeted base price of $6,800, today announced it plans to sell 100 pre-production vehicles built at its Shreveport, Louisiana, production facility fourth quarter of 2016.

"Elio Motors is ecstatic to announce that we are taking a major step forward in our development of the Elio," said Elio Motors founder and CEO Paul Elio. "We now intend to sell the first 100 pre-production vehicles built to one or more fleet customers, rather than use them for internal purposes as previously disclosed in our offering statement filed with the Securities and Exchange Commission. This will help us generate additional revenue, it will allow us to evaluate vehicles under real-world driving conditions and it will allow our supplier team to refine our design." 

This limited run of pre-production vehicles will be a major step forward for Elio Motors as it works toward mass production. The pre-production vehicles will allow Roush, which was named lead engineering partner earlier this week, to provide a quieter, smoother vehicle with refined driving characteristics. Ultimately, this will raise customer satisfaction with the final production vehicle.  

"We are chomping at the bit to get started on these 100 vehicles, as it's an important step in our evolution,"said Gino Raffin, vice president of manufacturing for Elio Motors. "The work we do on these vehicles will provide important insight that will make for a smooth transition when we begin hiring production workers for the consumer vehicle launch. We're getting closer every day and we are moving forward with relentless passion to get this done."

Although the fleet vehicle build is a step in the right direction for the end consumer driving experience, the bulk of the consumer launch will have to be moved into 2017 at a date to be determined, as the company continues to seek additional funding.

"As we have stated in the past, building an ultra-low cost, high efficient vehicle for the masses is not an easy task. It takes solid engineering and supplier partnerships, which we have, and substantial funding, on which we continue to make progress," Elio said. "We recently had a successful stock offering, which showed there is investment interest and enthusiasm for this project. We raised significant funds, moving us even closer. Our team will keep fighting to get this done. The key is to not quit, and to continue to move forward toward our goal. We have a number of other financial strategies that we are pursuing relentlessly to help get us to our consumer production launch."

In addition to bringing Roush on board and announcing the pre-production-vehicle build, Elio Motors has been aggressive in pushing toward production of its Elio vehicle in other areas:

• In November 2015, the company introduced the P5, its fifth generation prototype, featuring a 0.9 liter, 3-cylinder engine designed by IAV specifically for Elio Motors.
• On Jan. 12, Elio Motors announced it will begin building its E-Series of prototype vehicles for testing and engineering purposes.
• On Feb. 12, Elio Motors reached 50,000 reservations for a place in line to buy the vehicle. 
• On Feb. 19, Elio Motors became the first organization to raise capital using Regulation A+ and then have its shares publicly traded on the OTCQX Best Market (OTCQX:ELIO). 

Elio Motors is using nearly 1 million square feet of a nearly 4 million square-foot former General Motors production facility. When Elio Motors reaches full production, it estimates that the Shreveport facility will have nearly 1,500 workers.

Hyundai releases third quarter results, with a better forecast for Q4.

• Hyundai Motor sold 3.62 million units worldwide through 2014 third quarter
• Sales revenue and net profit stand at 65.68 trillion won and 5.99 trillion won, respectively  

Hyundai Motor Company, South Korea’s largest automaker, today announced its 2014 third-quarter business results, which show that the company posted an increase in sales due to its strong presence in global markets and the launch of its game-changing models this year, including the all-new Genesis and Sonata. 

For the first nine months of 2014, sales revenue increased 0.5 percent to 65.68 trillion won (auto: 53.33 trillion / finance and others: 12.35 trillion) from a year earlier. Hyundai Motor sold an accumulated 3,624,837 units globally (Korea: 501,184 / overseas: 3,123,653) as of the end of September this year, a 3.6 percent increase from a year earlier. In Korea, Hyundai Motor’s sales went up 4.7 percent, mainly due to strong sales of new models and SUV models, while its overseas sales rose 3.4 percent from the same period a year ago.

However, operating profit and net profit fell 9.7 percent and 12.7 percent to 5.67 trillion won and 5.99 trillion won (including non-controlling interest), respectively, due to the strong won against the U.S. dollar.

In the third quarter alone, sales revenue increased 2.2 percent to 21.28 trillion won (auto: 17.14 trillion / finance and others: 4.14 trillion) with global sales of 1,128,999 units. However, both operating profit and net profit declined 18.0 percent and 28.3 percent to 1.65 trillion won and 1.62 trillion won, respectively, from a year earlier because of fewer working days at its domestic plants and the Korean won’s strongest rate against the U.S. dollar since the second quarter of 2008.

While the global auto industry continues to face uncertainties, Hyundai Motor will keep focusing on reinforcing fundamentals for future growth by further strengthening its quality management as well as enhancing its brand power.

Hyundai Motor’s efforts on quality management have been proven by a variety of third-party agencies. For instance, the company’s all-new Genesis and Sonata were rated as one of the safest cars on the road by the Insurance Institute for Highway Safety’s (IIHS) crash tests in the U.S.

In terms of brand management efforts, Hyundai Motor’s brand value surged 15.6 percent from a year earlier to $10.4 billion, achieving its highest-ever ranking of No. 40 in brand consultancy Interbrand’s 2014 Best 100 Global Brands.

In addition, Hyundai Motor will stay focused on introducing new models at the right times. While the all-new Genesis and Sonata are still in the process of launching in key markets, the company is also pushing forward on the launch of its regionally-strategic models such as Aslan, ix25 and i20.

Overall, Hyundai Motor forecasts that its fourth-quarter performance will improve compared to the recent quarter based on several positive factors such as the weakening of the Korean won against the U.S. dollar, new model launches and stabilized operation at its Korean plants.

USA - Cadillac to offer ultimate luxury, halo model, from the end of next year.

General Motors said today that it will build a new "top-end, high-technology" Cadillac at its Detroit-Hamtramck assembly plant starting in the fourth quarter of next year.

GM declined to name the car, saying only that it would be slotted above the CTS midsize sedan and XTS large sedan. Sources have told Automotive News that GM plans to build a large, rear-wheel-drive sedan, codenamed LTS, at the plant starting in late 2015.

“The objective for this upcoming model is to lift the Cadillac range by entering the elite class of top-level luxury cars,” Cadillac President Johan de Nysschen said in a statement. “Currently in development, this new rear wheel drive-oriented sedan uses completely new, custom-designed materials on a unique vehicle architecture."

GM said the car will be unveiled sometime during the first half of 2015. The company said it will soon announce the car's name.

Over the last several weeks, GM has installed tools and equipment for the new car over, part of a $384 million investment. The plant employs about 1,600 workers on one shift, a GM spokesman said. Market demand will dictate whether more workers are added, he said.

GM said that over the last five years it has invested more than $1 billion in the Detroit-Hamtramck plant, which makes the Chevy Impala, Malibu and Volt and the Cadillac ELR. GM calls the factory its "most complex plant in North America" because it builds several different models and platforms on one line.

The new sedan will be the first to use GM’s new, rear-wheel-drive platform, code-named Omega. It's expected to get the same 3.6-liter twin-turbo V-6 and Aisin-supplied eight-speed that run the CTS Vsport. All-wheel drive will be optional.

Mike Colias

REPORT HERE

USA - Tesla sales in the fourth quarter of 2013 were the highest in company history by a significant margin

Tesla sales in the fourth quarter of 2013 were the highest in company history by a significant margin. With almost 6,900 vehicles sold and delivered, Tesla exceeded prior guidance by approximately 20%. A higher than expected number of cars was manufactured as a result of an excellent effort by the Tesla production team and key suppliers, particularly Panasonic.

The two key drivers of demand were the superlative safety record of the Model S and great performance under extremely cold conditions.

Safety Record

Tesla remains the only manufacturer with a perfect safety record of zero deaths or serious, permanent injuries ever. Including the Roadster, Tesla vehicles have now been on the road for almost six years in 31 countries with almost 200 million miles driven to date. Despite dozens of high speed collisions, the driver and passengers have always been protected. This is Tesla’s proudest achievement.

Independent testing by the National Highway Traffic Safety Administration (NHTSA) awarded the Tesla Model S a 5 star safety rating overall and in every subcategory without exception. Of all vehicles tested, including every major make and model approved for sale in the United States, the Model S set a new record for the lowest likelihood of injury to occupants. While the Model S is a sedan, it also exceeded the safety score of all SUV’s and minivans.

Excellent Cold Weather Performance

Due to the precision of its electric powertrain, the Model S has outstanding traction control relative to the much higher latency and inertia of a gasoline powertrain. As a result, it is able to perform better on snow and ice than many all-wheel drive gasoline cars, as shown in this Tesla produced video: