I track most of the “large” electric car markets and write up monthly sales reports here on EV Obsession, but I don’t track Canada… since it’s quite small. That said, it’s interesting to find out that the Tesla Model S has been the top-selling electric car in Canada every month of 2015 so far.
The finding comes from FleetCarma (via the TMC forum), which created this nifty graph of monthly Tesla Model S, Nissan LEAF, and Chevy Volt:
FleetCarma’s Matthew Stevens puts the story in some useful context, though. He notes that the Chevy Volt is the best-selling electric vehicle in Canada by far (cumulative sales), but its 2015 numbers are surely deflated as people await the 2016 model, which will be much better (40% more electric range, a 5th seat, and a number of other improvements) for $105 less.
And how about this for some perspective on why the “high-priced” Tesla Model S is so popular:
What might surprise some is that plug-ins are becoming a key part of the supercar segment. The reason is simple; if you want to build a really, really fast car you need the instant torque of an electric motor.
While they have limited EV range, at the top of the pack are the McLaren P1 and the Porsche 918 Spyder. In Canada there are currently 8 McLaren P1s and 18 Porsche 918 Spyders registered. With base price tags of US$1,350,000 and US$847,000 these are not for the price conscious. We are fairly sure Dragons Den’s Wekerle’s Spyder is in that list even though it died a fiery death (because gasoline poured onto the exhaust – nothing to do with the electric/battery side).
It had to come, and it did: Tesla Motors is selling more stock to bolster its cash position as it prepares to launch its second high-volume electric car.
The California company announced this morning it would offer $500 million in new common stock
And, the company noted, CEO Elon Musk "intends to purchase $20 million of common stock in this offering at the public offering price."
Financial analysts have long suggested that Tesla needed more cash to fund its aggressive plans for expansion.
Chief among those are not only the production launch of its Model X all-electric luxury SUV, but also the construction and equipping of its lithium-ion cell "gigafactory" outside Reno, Nevada.
The total cost of the gigafactory could rise as high as $5 billion, though not all of that will be borne by Tesla.
Rendering of Tesla battery gigafactory outside Reno, Nevada, Sep 2014
Its longtime cell partner Panasonic will be a big part of the project, furnishing the cell fabrication machinery and operating that portion of the plant.
When fully built out, the Tesla gigafactory could become one of the largest structures on the planet.
Its output is targeted largely for the planned Tesla Model 3 third-generation electric car, which the company says it will unveil next year.
With 200 miles of rated range, the Model 3 is ultimately intended to sell in volumes up to 500,000 cars a year, at a stated price of $35,000 before incentives.
But the cells from the gigafactory will also supply Tesla's nascent energy-storage battery business for homes and commercial sites.
Early response to that announcement was overwhelming, Musk said on a May earnings call, and the battery factory's early production may go to supplying that business even before the Model 3 is ready.
Tesla Motors CEO Elon Musk at Motor Trend 'Car of the Year' ceremony in New York City, Nov 2012
At the end of last year, Tesla had $1.905 billion in cash and equivalents; by June 30, that amount had fallen to $1.15 billion.
The company's "burn rate" was $1.12 billion over the first six months of this year, and it has said it does not want its cash reserves to fall below $1 billion.
Several incremental delays in the start of volume Model X production have pushed out the time at which that vehicle's sales could start to contribute noticeable income to Tesla.
Tesla says that more than 20,000 interested parties have put down deposits on the Model X.
Musk's comments on last week's financial-results call seem to indicate that while Tesla will likely deliver at least a handful of Model X vehicles before the end of September, volume production won't commence until December--and possibly later.
Challenges posted by the vehicle include its unique "falcon doors," the need for substantial towing ability, and getting an acceptable range rating from the EPA.
Tesla Model X prototype in Culver City, California [photo by Instagram user jmtibs]
And, Musk added on last week's call, the rear seats have lately proven to be particularly challenging as well.
"I don't want to sort of name specific suppliers," he said, "but our biggest challenges are with the second row seat, which is, it's an amazing seat, like a sculptural work of art, but a very tricky thing to get right."
As for this morning's offering, the company said only that it intends to use the proceeds for a variety of purposes.
Overall, the cash will go toward accelerating its business growth in the U.S. and internationally, including more Tesla Stores, service centers, and Supercharger DC quick-charging sites, as well as expanding the Tesla Energy business.
Also, it said, it will use the proceeds for "development and production of Model 3, the development of the Tesla Gigafactory, and other general corporate purposes."
The banks that underwrite the offering will have a 30-day option to purchase up to $75 million of the offering.
A user in the Tesla Motors Club forum recently started a poll asking members if they would upgrade from “Insane” mode, which enables them to accelerate from 0–60 MPH in 3.1 or 3.2 seconds, to “Ludicrous” mode, which reduces that time to an impressive 2.8 seconds. The upgrade costs $5,000 + labour for P85D owners over the next 6 months, and $10,000 for new Tesla buyers. Plus, you have to upgrade the battery pack to the P90D, which costs another $3,000 (if you weren’t planning to do that anyway). Unlike most Tesla updates, these both require the installation of new hardware (most notably, in the case of the speed booster, a fuse upgrade). The poll results are interesting….
Screenshot from TMC forum. Click to enlarge.
Surprisingly, ~60% of the members wanted the upgrade, ~14% of them said no, and ~25% of them said they’ll wait a bit while they think about it. Some of them were absolutely delighted to hear about theLudicrous upgrade option. $5,000 is half the cost of a brand new sedan, but a fraction of the cost of most sports cars offering similar performance. Some of the members think that $5,000 is a steal, as performance upgrades of that caliber can cost many thousands of dollars.
Other members were suspicious about what Tesla was actually offering, and whether it is worth it, but we can’t be sure until the upgrade is finally released.
Elon Musk announced yesterday that an upgrade to the Tesla Model S can give it a “Ludicrous” option that propels the electric sedan from 0 to 60 mph in just 2.8 seconds. Ludicrous, indeed… but let’s put this into some context.
First of all, there are only 7 “production” cars that have a 0-60 time claimed by their manufacturer to be quicker than that:
The Ariel Atom V8,a two-seater without a roof — and a lot of other things — that it’s hard to claim is a production car. A couple dozen or so were reportedly produced.
The Bugatti Veyron Supersport, World Record Edition, a super car that cost a few million dollars. 5 were produced.
The Caparo T1, which is basically a racing car with a design modeled after Formula 1 cars. A dozen or two, give or take, were produced.
The Nissan GT-R NISMO has a starting MSRP close in price to the top-end Tesla Model S fully loaded. Still it doesn’t have instant torque.
The SSC Ultimate Aero TT, a 2-door supercar that cost a few hundred thousand dollars or so. 15 or so were produced.
The Caterham 7 620 R, which is again a far stretch from what many of us would call a production car. It’s actually a kit car.
Yep, aside from the first and last (very bare-bones vehicles), each of those cars cost tens or hundreds of thousands of dollars more than the Tesla Model S. Yep, none of those cars seat 7 people (I don’t think any of them even seat 5), or have nearly as much interior or storage space as the Model S. Yep, the Tesla Model S is more efficient… many times over.
But getting back to acceleration, let’s also remember that the Tesla is the only one with “instant torque.” While the other cars need a little bit of time for their full power to rev up and kick in, the ludicrous Tesla Model S has it all right there off the line. That means that the Tesla can actually smoke those other 7 cars in the initial sprint, probably even beating all of them to 30 mph. In my opinion, that actually makes the Tesla Model S the quickest production car in the world, the quickest in history.
By the way, utilizing the much slower Nissan Leaf and a typical gasoline car to show the difference in acceleration between an electric car and a gasoline one, I think this graph is worth sharing:
Of course, manufacturer 0–60 times are not always the quickest the car can do. Looking at thefastest accelerating production cars based on both manufacturer and independent tests, there are 12 production cars that can get to 60 mph in under 2.8 seconds. That’s not to say the Model S won’t be tested going to 60 in under 2.8 seconds. It probably will.
In any case, no other car on this list provides the interior space or practicality of a Tesla Model S, and no other car on this list has full instant torque. There is simply no comparison. The ludicrous Tesla Model S is in a league of its own.
What’s the fastest electric car on the market? I think you can guess, but what about #2–17?
First of all, let’s get a little perspective in here. A car’s quickness is generally rated by how fast it goes from o mph to 60 mph (or 0 km/h to 100 km/h outside of the USA and a few other places). But there are other ways to measure it — o mph to 30 mph, o mph to 15 mph, etc. The thing about electric cars is that they have instant torque, which gives them a huge jolt of power right off the line, something that conventional gasmobiles simply can’t match. To visualize that a bit, here’s a simple graph viaDesignNews (via the Union of Concerned Scientists):
That’s why a Tesla Model S P85D can smoke a Ferrari or Lamborghini off the line.
But anyhow, a car’s 0–60 time is the the standard by which we typically measure how quick (or fast, if you’re not being precise with your use of language) a car is, so that’s what I’m using in this article to rank the top 10 quickest “electric cars on the market.” Just keep that instant torque thing in mind and be sure to share that graph with your uninitiated gearhead friends.
As one more intro point before jumping into the list, I put “electric cars on the market” in quotation marks like that because some cars are supposedly “on the market” but are basically unattainable. The$1 million Rimac Concept_One, for example. Wonderful car, and supposedly goes from 0 to 60 mph in 2.8 seconds, but come one, we can’t have a $1 million car on this list.
With those disclaimers out of the way, here are the 17 quickest electric cars on the market:
17. Chevy Volt = 8.8 seconds (Note: 2016 Volt will = 8.4 seconds)
I went beyond the top 10 quickest electric cars because I wanted to get a bit more into “every man’s” territory. The Volt is certainly in that realm, with a price tag (or MSRP) of just $33,995 before the US federal tax credit for EVs or other state and local incentives. It’s also a very sharp-looking car and has gotten a ton of love from its owners over the past several years. It seems to offer a good balance between performance, comfort, and price.
I was actually quite surprised to see the Ford C-Max Energi (and it Fusion sibling) so high on the list. I mean, I saw the number when updating this comprehensive electric car page a few months ago, but I really didn’t remember it beating out so many other electric models. It’s very much a family car, in my eyes, and doesn’t scream “fast.” Perhaps the decent acceleration is one of the things that keeps it sales quite steadily in the top 6 or 7 in the USA. The affordable $31,635 MSRP doesn’t hurt either, I’m sure.
14. Renault Zoe = 8.2 seconds
I love the Renault Zoe. I realize it’s not the response that many have to such an affordable, simple car, but I really love the thing. And finding out that it has a decent 0–60 time of 8.2 seconds just makes it that much better. Naturally, it would be hard to choose the Zoe over the Tesla Model S or some of the other more expensive cars on this list, but if you want to save money, the Zoe is an awesome choice. Of course, it’s not on the US market, but it is the 3rd most popular electric car in Europe so far this year, and the quickest of those top three. By the way, the price in its home country of France is €21,900 and the price in the UK is £13,443, not including the leasing of the battery.
12. Ford Fusion Energi = 7.9 seconds
Like with the C-Max Energi, the Fusion Energi is another surprise “family car” that I was surprised to see so high on the list. It was the 5th best-selling electric car in the US in the first half of 2015, and 4th in June, due to its many benefits. Fast, quite spacious, quite affordable, good looks — what more do you need (other than a bit more all-electric range, ahem)? Price = $33,900, btw.
12. Mercedes B-Class Electric = 7.9 seconds
With some Tesla organs and a Mercedes badge, it’s not surprising to see the B-Class Electric show up on this list. However, it’s by far the most expensive we’ve seen so far, with an MSRP of $41,450. For much more detail on the B-Class Electric, I recommend this thorough review: 2014 Mercedes B-Class Electric Drive Review — 1st Month (Exclusive).
11. Cadillac ELR = 7.8 seconds
Expensive? What was I talking about? For an extra 0.1 second (… and, admittedly, a few other things…), the Cadillac ELR adds about $25,000. Granted, that’s a big reason why its sales are pretty lousycompared to other models on this list. But hey, it almost broke into the top 10, and the truth is that it does offer quite a bit of luxury.
9. Volkswagen Golf GTE = 7.6 seconds
Getting back into the realm of cars an average man can afford (well, the price is still a bit above average), the Volkswagen Golf GTE starts at £33,755 in the UK. If you haven’t guessed by now, it’s not yet on the US market. But it is selling like hotcakes in Europe. It was #6 for the first five months of 2015, but rose to #2 in May. As you can see in the video reviews above, it’s quite well loved.
9. Audi A3 e-tron = 7.6 seconds
The Audi A3 e-tron is tied with the VW Golf GTE because it is basically the same car, just with a different cover. It also comes in at basically the same price. Essentially, if you like the features of these plug-in hybrids for the money you have to fork over for them, the deciding factor is basically whether you prefer Audi or Volkswagen. Sort of like choosing between a Chiquita banana and a Dole banana, you know? The good news is the A3 e-tron should hit US shores in October (I’m guessingCalifornia).
8. Chevy Spark EV = 7.2 seconds
With more torque than a Ferrari 458 Italia, the Chevy Spark EV didn’t have too much trouble landing on this list… or impressing test drivers and owners. Yeah, 7.2 seconds to 60 mph isn’t amazing, but remember that graph at the top of this page. You have to adjust. And considering that the car comes in at just $25,995 before incentives (after a recent price cut), the Spark EV is by far the cheapest on this list that is available in the US, and comes in several thousand dollars below the average new-car price, not even counting the $7,500 US federal tax credit for EVs or the $2,500 ZEV rebate in California. You’d think it would be selling like crazy… unless GM wasn’t actually producing the car to meet demand or advertising it.
Full disclosure: I love the BMW i3. Agreed, the looks aren’t like those of a Rimac Concept_One or BMW i8, but the car drives wonderfully, has impressive acceleration off the line, is comfy and spacious, is themost efficient car on the US market, and is green as all get-out. With almost the same price as the Mercedes B-Class Electric, that’s likely its closest competitor. The i3 obviously crushed the B-Class Electric off the line (well, is 0.8 seconds faster to 60 mph), but there’s plenty of debate which car is better. See this comparison vs this comparison. Heck, even the tweets on those competing articles are almost the same.
6. Mercedes 350 e = 5.9 seconds
The Mercedes GLC 350 e 4MATIC Plug-In may be an SUV, but this beast knows how to get up and go, reportedly hitting 60 mph faster than your mom can say “ouch.” It has just hit the European market, so we’re yet to see much of it, but in the plug-in-hybrid-loving Netherlands, it was the 4th best selling electric car in June. I haven’t searched out the price yet, but I’m sure it’s not cheap.
5. Volvo V60 Plug-In Hybrid = 5.7 seconds
The luxurious, high-performance Volvo V60 PHEV is a close competitor to the 350 e in many respects, and barely inches it out in the drive to 60 mph (or 100 km/h). It’s high price tag certainly scares away many buyers, but it has enough to offer that it has a solid grip on the #9 sales spot in Europe. It’s not available in the US, btw.
4. Porsche Cayenne S E-Hybrid = 5.4 seconds
Ah, hard to have a “fastest cars” list without Porsche strutting its stuff. Another SUV/crossover, the Cayenne S E-Hybrid is all about the mixture of performance and luxury. At a cool $77,200, it’s not for the 99%, but what can you expect with the Porsche logo on it. For the record, I think it is my favorite SUV/crossover (until the Tesla Model X arrives), but I do wish Porsche had squeezed more than 14 miles of electric range into the vehicle.
Ah, and sharing much of the same technology, the Porsche Panamera S E-Hybrid steals the bronze medal from the Cayenne S E-Hybrid. The Panamera S E-Hybrid actually accounts for about 10% of Panamera sales last I heard. I think it deserves even more, but whatev — people are slow to catch on to new trends. (Btw, Porsche, I have’t driven this thing yet — drop me a line.)
Eating Porsche’s lunch this time, the BMW i8 is not just a beauty of a car that pulls in people who know nothing about it — it’s a vehicular cheetah. The only problems? Its $135,700 price tag and its quite minimal 15 miles of electric range. But still, look at that beauty. (Btw, BMW, I have’t driven this thing yet — drop me a line.)
While everyone would still like Tesla Motors to announce monthly sales numbers, at least we now have the latest quarterly delivery figures from the all-electric automaker. Tesla says it delivered 9,834 vehicles in the last quarter of 2014 and built 11,627 vehicles. Tesla says the production delays for the new, dual-motor P85D version of the Model S pushed some deliveries back to the first quarter of 2015. That 11,627 is a record number of vehicles made in any quarter for the automaker and it helped Tesla hit its stated goal of building 35,000 vehicles in 2014.
In its latest shareholder letter released today, Tesla said it expects to increase its number of vehicle deliveries by more than 70 percent in 2015. That includes the Model S as well as the upcoming Model X, which is going to start deliveries within the next six months. At the start of 2015, Tesla says, it had "over 10,000 orders for Model S and almost 20,000 reservations for Model X." The company says that over 30 beta versions of the X have been built and are being tested. We saw one just the other day, in fact.
Regarding reports of low Model S sales in China, the letter says, "Despite initial challenges in China, we remain convinced of the vast potential of this market and are concentrating our efforts on the cities we are in currently, before launching into new cities."
Tesla also reported a loss of $107.6 million in the fourth quarter of 2014. The company said it had a loss of 86 cents per share. Losses, adjusted for non-recurring costs and stock option expense, were 13 cents per share. The results fell short of Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share. The electric car maker posted revenue of $1.1 billion in the period, which also fell short of Street forecasts. Analysts expected $1.19 billion, according to Zacks. The automaker says its fourth-quarter profits fell from the impact of a strong dollar and delayed vehicle shipments. TSLA was down $3.49 today, a drop of 1.61 percent, to $212.80. The stock is up slightly more than 8 percent in the last 12 months but shares dropped two percent to $208.65 in aftermarket trading.
Every year Ward’s Auto takes a look at all the new cars and engines out there, and puts together a list of their favorite drivetrains. This year some old friends and new faces were on Ward’s 10 Best Engines of 2015 list, including an electric motor and hydrogen drivetrain.
The 127 kW/170 horsepower electric motor from the Car of the Year BMW i3 was listed alongside the 100-kW fuel cell from the Hyundai Tucson Fuel Cell. It’s not the first time either an electric motor has been chosen for Ward’s 10 Best Engines list, as the Fiat 500e was given the nod for its 83 kW motor last year, though the 691 horsepower motor from the Tesla Model S P85D was conspicuously absent. Perhaps next year?
The new three-cylinder MINI Cooper engine gave BMW its second spot on the list, while Chrysler got the nod twice with the 3.0 liter EcoDiesel in the Ram 1500 (again) and the Challenger Hellcat’s 707 horsepower supercharged V8. The three-cylinder Ford EcoBoost engine made its fourth appearance on the 10 Best list, and was joined by the Volkswagen 1.8 turbocharged four-cylinder (again), the Volvo 2.0 liter turbo from the V60, the 2.0 liter Boxer from the Subaru WRX, and the Chevy Corvette’s 6.2 liter V8 (also again).
Will there come a day when alternative fuel drivetrains dominate the Ward’s 10 Best Engines list? This writer thinks so.
![Tesla Model X prototype in Culver City, California [photo by Instagram user jmtibs]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_sPt-cKZYE6jeI-k9H7swDSuYQdVxos_YwxYQwmFdmNSkiASe17PUPyAbkq8TJ3U7y_BuCSX5iWlfa6D4MshMS4amw6ImVlsdiLs4qHG04qJ3v5PRt-J8AYviqQauub482oxgQHdA1amuO9qSHhFftYJopymGLnf9nygGA1BT1Z_TUDAV4fCfx--h9X2JsW6iA28NzvJmulR7-M6H-Lk1iw7kJ7x_0UyZdBvw=s0-d "Tesla Model X prototype in Culver City, California [photo by Instagram user jmtibs]")
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