Tesla’s second stock offering netted the automaker $738 million in cash for its Gigafactory, Model 3 development, and dealer and service upgrades, Bloomberg is reporting.

Banks exercised their options to buy more stock than the initial $500 million estimate, with underwriters Morgan Stanley and Goldman Sachs buying more than 2 million of the available 3.1 million shares. Tesla CEO Elon Musk said he would be interested in buying $20 million worth of shares in the offering.

(Before the stock offering, the banking arms of Morgan Stanley and Goldman Sachs loaned Musk a combined $475 million, to which Musk pays market rate and is separate from their investment divisions, according to the offering.)

Shares of Tesla were down more than 3 percent in Thursday trading to $245. Read More >

Reuters is reporting that Buick will import most of its new models to North America from China and Europe by 2016. Only the mid-size that will eventually replace the LaCrosse and the large Enclave crossover will be built in America, both in Michigan.

Other Buick models, including the coming Cascada convertible and the small crossover Envision would come from Europe and China respectively. Production of the Verano would shift from Michigan to China, the next-generation Regal would come from Germany instead of Canada, and the Encore would continue to be assembled in Korea, but would eventually shift to China, Reuters reported from an unidentified source.

Read More >

Gearing up to sell its own four-door, all-electric sedan in a couple years, Aston Martin CEO Andy Palmer told well-heeled listeners in Monterey, California that Tesla’s “Ludicrous Speed” was plain ol’ dumb, Automotive News reported.

“We don’t do Ludicrous because Ludicrous speed is stupid,” Palmer said.

(But selling a variation of a four-door Aston Martin that’s been on sale for 6 years with a 200-mile range for $200,000 to $250,000? That’s genius.) Read More >

Mercedes-AMG took the wrapper off its dual-flavored C63 AMG Coupe on Wednesday — and to quote the great Denny Green: “They are who we thought they were.”

The Affalterbach duo was shown online after weeks of teases and official photo “leaks” two days ago. The only surprise left were the official specs of the coupes, which were close to what many people predicted.

The C63 “normal” will boast 476 horsepower and 479 pounds-feet of torque, while the C63 S will bump up to 510 hp and 516 pounds-feet of twist. Earlier estimates, based on the C63 sedan, were pegged 6 and 7 horsepower fewer, respectively. And curb weight, provided you’re a 150-pound human, with 15 pounds of cargo and nearly a full tank of fuel (I love how specific Mercedes can be) is 3,968 pounds for the C63 and 3,935 for the C63 S. (Unladen, the C63 and C63 S is 3,802 pounds and 3,769 pounds, respectively.) Read More >

Audi’s first production electric car will be a crossover to fight the Tesla Model X, the German luxury carmaker said Wednesday.

Concept drawings and initial specifications released by Audi detailed their crossover that is powered by three electric motors — borrowed from its R8 e-tron concept car — with a proposed range of over 300 miles. According to Audi, the crossover, which is called the “e-tron quattro concept,” would slot between the company’s 182.6-inch Q5 and 200.3-inch Q7. Tesla’s Model X is 197 inches long.

The crossover’s lithium-ion battery would give the car a range more than 300 miles.

Read More >

Cadillac CEO Johan de Nysschen said future Cadillac cars in the U.S. will have diesel powertrains, Automotive News is reporting (via Autoblog).

De Nysschen told journalists that oil burners would make their way to the States after they’re launched in Europe, presumably around 2019. He said engineers at Cadillac were working on 4- and 6-cylinder models, but wouldn’t specify what cars those engines would power.

Audi, BMW and Mercedes offer diesel power plants in their compact or mid-size sedans that would compete with the theoretical Cadillac.

Read More >

Tesla’s ride-sharing business could be worth hundreds of millions to the company in the future, an analyst for Morgan Stanley said Monday.

Adam Jonas increased his price target for Tesla from $280 to $465 — but said the stock could go even higher to $611 — based on his forecast that Tesla could introduce an autonomous ride-sharing service by as early as 2018, Bloomberg reported.

It’s at least the third time that Jonas has publicly pumped Tesla’s stock.

Read More >

Toyota’s facelifted Land Cruiser will reach American shores, the automaker confirmed Tuesday. Toyota lifted the cover off the SUV yesterday in Japan and we reported that Toyota would tell us the same today.

(Oi. We should have stretched before patting ourselves on the back like that.)

The updated Land Cruiser will still sport a 5.7-liter V-8 that produces 381 horsepower and 401 pound-feet of torque. The engine will now be married to Toyota’s eight-speed automatic (the first Toyota-branded vehicle on our shores to use the gearbox) but oddly, mileage doesn’t improve beyond 13 mpg city/18 mpg highway/15 mpg combined, which were the numbers for this year’s six-speed box.

Toyota’s announcement also includes one of the best lines in press release history: Read More >

Leaked photos of the Mercedes-AMG C63 Coupe from a presentation have found their way onto the Web, from Zero2Turbo (via Carscoops).

The photos are in line with the official photos of the coupe we saw this weekend, and earlier “leaks” from Mercedes-AMG’s official Facebook page.

The coupe will likely follow the sedan and offer 470- and 503-horsepower versions of their 4-liter turbocharged V-8 shifted through a 7-speed dual-clutch transmission. The car will be shown to the public at the Frankfurt Auto Show in September and unveiled online August 19.

Read More >

Toyota announced its updated Land Cruiser in Japan today, with a starting price of $38,000 (!?) for the off-roading legend.

The seven-seater over there serves as the base for our Lexus LX over here, which was unveiled over the weekend in California alongside the turbo’d Lexus GS, and our version has all the grille.

Based on initial reception of the LX, when will we get the new Land Cruiser?

Read More >

Some may argue that Mercedes is responsible for the prevalence of four-door coupes on the market thanks to the popularity of the CLS. While the tri-star brand might be found guilty in the court of public opinion for slagging upon us such an abomination, it’s refreshing that the German brand still knows how to make a real, honest-to-goodness coupe — and this is the latest one: the Mercedes-Benz C-Class Coupe.

Read More >

After years of delays, a redesigned concept and lots and lots of auto show carpet time, the Acura NSX still isn’t ready for prime time.

The automaker announced today that the NSX would begin production in spring 2016, not this fall as was previously reported. Automobile first reported the delay.

A spokeswoman for Acura said delays at the Marysville, Ohio plant producing the NSX, and changing performance targets for the car were responsible for the setback.

“Since this American-made supercar is the ultimate expression of the Acura brand, we want to ensure we’re delivering the best vehicle and customer experience possible,” an Acura spokeswoman wrote.

Read More >

Tesla filed Thursday to sell nearly $500 million in shares of its company to raise capital and cover investments the electric carmaker plans to make in the future.

According to the filing with the U.S. Securities and Exchange Commission, the proceeds will go toward the company’s planned investments in the Model 3, Supercharger network and its Gigafactory battery plant in Nevada.

By the book, the stock sale is a short-term pain for long-term gain. Exposing Tesla further to the market carries certain risk, especially considering Tesla’s price growth and relative upside-down balance sheet, but if historical stock prices are any indication, it’ll be a cash cow. Elon Musk asking to buy $20 million in his own stock has pumped up the prices too beyond any distillation worries.

But don’t be mistaken: the second stock sale isn’t really about the cars.

Read More >

Cadillac likely won’t push to sell more cars in Europe before 2020, the company’s CEO Johan de Nysschen told analysts on Tuesday.

“We’ll go to that market when we have the right powertrains and the right cars,” he said Tuesday, according to the Detroit News.

Previously, Cadillac had planned some right-hand drive models and diesel powertrains to help it gain a foothold in European markets. According to the report, Cadillac has sold only 838 cars in Europe so far this year. Cadillac wants to sell 500,000 cars globally by 2020, de Nysschen said.

Read More >

According to Cadillac CEO Johan de Nysschen, it probably could.

According to Automotive News, de Nysschen told analysts that Cadillac would have a “a far higher degree of autonomy and self sufficiency” within two years, and the company could report its own profits and losses, separate from GM.

Already, Cadillac contributes “a very sizeable contribution to the overall profit at General Motors” de Nysschen said, so let’s cut the dead weight already and keep the ugly sorority sisters in the basement?

Read More >