Tesla Motors Inc. surged the most since March after the company’s chief executive said production and sale of its all-electric Model S sedan won’t be delayed by two top engineers leaving the carmaker. Tesla plunged a record 19 percent last week after news broke of their departure.
Tesla Motors Inc. , the U.S. electric-carmaker backed by Toyota Motor Corp. and Daimler AG , rose 19 percent in Nasdaq trading after a JPMorgan Chase & Co. analyst said he was “bullish” on the company’s outlook.
U.S. auto sales failed to rebound in August as confidence sank and prospects dimmed for faster economic growth, prompting at least a dozen analysts to lower estimates for light-vehicle deliveries for this year and next.
Foreign cars are selling in the U.S. at the biggest price premium to domestic autos in almost 12 years as a weak dollar curtails imports of lower-priced models, allowing General Motors Co. and Ford Motor Co. to gain share.