2012 Coda Sedan
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Details are sparse, but it appears the bad news is continuing at Coda Automotive. The company sent the following statement to AutoblogGreen today:

On Friday, January 4th CODA furloughed a number of employees as the Company takes necessary action to bolster its financing and better position the business going forward. The Company has kept in place a sufficient number of staff to keep the Company operational and remains committed to the continued development and distribution of its products. During this period, CODA will continue to provide service to its dealers and customers. While unfortunate, we are confident this temporary action will allow the Company to strategically direct resources towards critical operations and put the Company on a more sustainable path.

In mid-December, Coda laid off around 15 percent of its workforce, or about 50 people. At the time, Coda said the layoffs were intended to "better position our business going forward" and that "We remain committed to the continued development and distribution of our products." Apparently, and we await more details on today's action, the company did not let enough people go to reach this "better position."


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  • 37 Comments
      paulwesterberg
      • 3 Months Ago
      I prefer hatchbacks, and I don't live in Cali, and coda's classic toyota corolla styling never really did much for me. But the specs seem decent and the price isn't outrageous($28k after federal & Cali tax credits). I wish em luck and hope they can hang in there to provide some competition in the market, but I would rather end up with a tesla bluestar in my driveway.
        SVX pearlie
        • 3 Months Ago
        @paulwesterberg
        @Paul: If you're able to get the full credits, you can afford a Volt or other major OEM product.
      Marcopolo
      • 3 Months Ago
      EV, or not, a bad car from a bad company, is still a bad car ! Hopefully, Coda will disappear altogether leaving the EV market to develop successfully without being tarnished by third rate imports, sold by disreputable business identities.
        EVnerdGene
        • 3 Months Ago
        @Marcopolo
        Just five years late to market. But even if a market leader then, there's no way they could afford to keep up with competition from Mitsu, Nissan, Ford, Fiat, Honda , , ,
      pete.angel
      • 3 Months Ago
      It is mind boggling that you can't take deceitful strategy, terrible design, incompetent auto industry re-treads and make a great car.
      bluepongo1
      • 3 Months Ago
      Purpose built EV=elegant simplicity retrofitted ICE=turd polish... I said: Buh BYE Coda!!
      Stoaty Marmot
      • 3 Months Ago
      Remember that Leaf sold just under 10,000 cars this year, Volt over 23,000 cars, PIP 12,000 cars. The market is alive and well... just not for every company.
        • 3 Months Ago
        @Stoaty Marmot
        Plug-in EV sales including the Volt were just 0.37% of the US market in 2012. I would hardly call that a market that's "alive and well". And as gas engine vehicles get more and more efficient to meet the new CAFE standards, then EVs will make even less financial sense when they cost $20,000 more than a similar gas engine vehicle. The payback simply isn't there for most consumers.
        Joeviocoe
        • 3 Months Ago
        @Stoaty Marmot
        Hmmmm.. that is 45,000 in 1 year. That's every 12 minutes, a plug in car is sold in America :) (on pure average) Also, if you only count 16 hours in a day (the operating hours of dealerships coast to coast)... That is every 8 minutes, a plug in car is sold in America, then nothing for 8 hours each day while we sleep. Could you have imagined this 5 years ago???
      SVX pearlie
      • 3 Months Ago
      I'm sure there are others, like the MIEV, if you were so inclined. ;) The Leaf and Volt are the "safe"choices
      Louis Choquette
      • 3 Months Ago
      If Coda paid more attention to building a car that was crash test worthy I don't think they'd be having as big of a problem as they currently have. Perhaps more individuals who like vanilla looking cars would have bought them. I'd like Coda to succeed but unless they correct their game plan, I don't see it happening.
        Giza Plateau
        • 3 Months Ago
        @Louis Choquette
        It got a 4star rating. It has nothing to do with that. Not even the tiniest bit.
          • 3 Months Ago
          @Giza Plateau
          Actually, it only got a 2 star rating in front crash. There's no way I would buy a car that only provides 2-star protection in front crash, and I'm sure a lot of other people feel this way. So it ABSOLUTELY has something to do with sales.
      2 wheeled menace
      • 3 Months Ago
      Ah, the green car scene continues to be rather depressing compared to the height of it in 2008-2009. Can't say i didn't see this coming for CODA.
        Joeviocoe
        • 3 Months Ago
        @2 wheeled menace
        I would not call it depressing. There are more green cars being sold and driven now, than in 08-09. Way more. But remember the trend of media and the observer's bias. Back then, an EV revival was exciting news.. and ABG thus reports with many articles of such revival stories. Nowadays strife, conflict, and failure sells newspapers... or, um, blogpaper. Most of the EV revival stories on the Green Scene DID turn out to be hype... but the few that remain, are doing well...and selling green cars.
        SVX pearlie
        • 3 Months Ago
        @2 wheeled menace
        @2wm: how many plugins were sold in the years 2008 and 2009 *combined*? 1000? 2000? How about just the last month of 2012? 5000? 6000? Yeah, how depressing.
        SVX pearlie
        • 3 Months Ago
        @2 wheeled menace
        Joe is correct - this isn't depressing, it's the natural shakeout of inefficient product in favor of efficient product. Capitalism and market forces at work. It's actually a healthy thing.
      Giza Plateau
      • 3 Months Ago
      I wonder if decision makers of these various companies never read comments like these. If they live in a bubble where their delusions are never challenged. I guess for most, they are so caught up in the big job of carrying out the various ill conceived plans to have the surplus to listen elsewhere. I have no doubt that creating a car producer is a big task and you have to do several critical decisions right to within a narrow tolerance for it to work. But I'm still puzzled when it seems there is wide consensus among people of mere moderate intelligence that 40.000$ was an unacceptable price. So how does such a critical metric escape all these people for so long. Much the same with Better Place. It was widely pointed out that it's a fundamentally flawed concept in a number of ways yet somehow the intelligent Shai Agassi never realized it. Fisker Karma weighs 2.4ton yet no decision maker said wait a minute, that can't be right. Tesla spent 2-300k$ for each Roadster they built yet no one said how is it possible that we are spending that much money.
        bluepongo1
        • 3 Months Ago
        @Giza Plateau
        "Tesla spent 2-300k$ for each Roadster" LOL!! what orifice did you pull that number from? or is the calculator telling you that Tesla doesn't have a future talking to you again? BTW watch how quickly Tesla goes private after the loan is paid off.
          Marcopolo
          • 3 Months Ago
          @bluepongo1
          @ bluepongo1 What a devastating retort ! As always with conspiracy theorists, smug with invented 'secret' knowledge, comes the reply, " just you wait and see... " Seek help.
          EVnerdGene
          • 3 Months Ago
          @bluepongo1
          you don't have to pay-off loans to go private, just investors
          bluepongo1
          • 3 Months Ago
          @bluepongo1
          @EVnerdGene the public offering and loans were forced on Tesla ( unwanted and unneeded ) to pull a private business into their sphere of influence. I'll bet most ABG commenters don't realize that Tesla Roadsters had 3 sucessful variants in production before the media and government interference ( but reality won't show up on your paperwonk)
          Giza Plateau
          • 3 Months Ago
          @bluepongo1
          If Tesla broke even on the Roadster program, then where did the billion dollars go? where did the 8 years of continuous losses come from? When Tesla went public, there was an SEC filing with a summery of net loss so far. Take a look at that and tell me where that loss came from if not the Roadster program. The IPO was in 2010, about 2 years into Roadster delivery. Net loss til then was 236m$. Iirc they had delivered 937 Roadsters at that point. If we say 36 million had been spent on Model S, that leaves a 200m$ loss on 937 car, that's 213.000$ loss on each one. Even if we say the remaining 1600 cars were produced with no further loss (which they weren't), that's still about 78.000$ loss on each one. Or about 200k spent on each one. That's where I pulled the numbers. And Tesla has lost a cool 700m$ since the IPO (not including Q4). A rather impressive number. A deadly one too. TSLA may go private, but I think it will be through bankruptcy proceedings. And the loan will never be paid. Not even a little.
          bluepongo1
          • 3 Months Ago
          @bluepongo1
          @ Marco keep believing the internet and your own ego but watch what comes to pass and you and your mate Giza can spin it any way you want to.
          Marcopolo
          • 3 Months Ago
          @bluepongo1
          @ bluepongo1 What on earth are you ranting about ? "the public offering and loans were forced on Tesla ( unwanted and unneeded ) to pull a private business into their sphere of influence" Of all the weird, crazy stuff you post, this has got to be the craziest ! Tesla applied for the DOE loans, there is no weird conspiracy ! Elon Musk has proved to be a highly successful businessman, and seems to have mastered the skills to be a successful industrialist. He maybe a little humourless, and single-minded, but great achievers often are. Tesla is producing, and more importantly, selling, well finished, quality products to supply an increasing demand for Tesla's model S. Take yourself, and your mate Giza and find a good mental therapist .
          bluepongo1
          • 3 Months Ago
          @bluepongo1
          @marco You refute facts with slander, make strawman arguments and invent libelous fake scenarios to inflate your self image. You should get legal help instead of telling others what to do. ( surpressing safety equipment for political capital is conspiricy.) ( what secret?) ( who brought Elon into this thread ??/ why did you feel the need to comment without adding any useful information?) All your projecting comments say more about you than you realize.
          EVnerdGene
          • 3 Months Ago
          @bluepongo1
          Yeah, my paperwonk doesn't show that. In fact, I ain't got no paperwonk. So you are saying they didn't want the half-a-$Billion gov'ment deficit-funded loan? I would like to learn more.
          bluepongo1
          • 3 Months Ago
          @bluepongo1
          @EVnerdGene Follow.The.Money. (patents and affiliation to VW) (should I have hyphenated paper-wonk?). You don't need credit when you have cash and research. You moreover don't need government tools taking the low drag rear-view cameras off your third production run Roadsters ( at least they didn't recall the first and second run variants.) and putting on those stupid mirrors (so they could make a law to justify their pointless parasitic jobs). Don't get me started with the lies on the internet , if you see a first gen Roadster you'll see the truth. ( oh and they also have a little extra tech in the battery compartment )
        Joeviocoe
        • 3 Months Ago
        @Giza Plateau
        Because when a company goes bankrupt... the employees don't. It is worth it just to try and make a company succeed, even when doomed from the start. They got some gov't money too. If it is enough to make a decent salary, it is rational to try anyway. Even if they wind up with no lingering assets. Salaries were paid during a time.
          Giza Plateau
          • 3 Months Ago
          @Joeviocoe
          How is that different from fraud or theft
          Marcopolo
          • 3 Months Ago
          @Joeviocoe
          @ Joeviocoe Often when a company goes bankrupt it can have devastating consequences for all concerned, sometimes whole communities suffer Corporate bankruptcies are not always due to bad management. Business is competitive, and all 'enterprise is fraught with risk. The legal principle of corporations being regarded as legal entities, is to allow companies to have the same legal rights and responsibilities are natural persons. As taxpayers, corporations are entitled to speak on political issues, especially those which effect their interests. (Y'know, no taxation without representation). Corporations, even the biggest, are made up of real people ! Stockholders are people, employees are people, even the directors are people ! Ask anyone whose been through a corporate bankruptcy. Ask the stockholders, creditors, employees, and even local communities, see if they agree with you that there are no consequences ! I have attended inquests where, directors, creditors even employees have committed suicide, suffered heart attacks, and other tragedies, as the result of bankruptcies. Companies are made up of people, and like anything created by people, there is the same ethical mix of good and bad, weak and strong, competent and incompetent etc. Like the rest of the community, there is also a small percentage of rogues and criminals. Saints and Sinners, ( or Tesla and Coda if you like), and all those in-between !
          Joeviocoe
          • 3 Months Ago
          @Joeviocoe
          Yes, corporations pay taxes.... but, the taxes they pay come from the money they make from customers. A corporation is made up of people.. but the the voice of the corporation (the ones who decide which political campaign to endorse) are the executives at the very top. It is a self contained plutocracy. Hobby Lobby has many employees with all sorts of political views, but only the CEO and the executives at the top have an agenda which has a problem with contraception. Chick-fil-a is another example. A corporation is made up of people, but it is NOT representative! So although they have the money which equals speech now... they do not speak for their employees.
          Marcopolo
          • 3 Months Ago
          @Joeviocoe
          @ Joeviocoe Public Companies are similar to your government. Companies operate like representative governements. (not to be confused with democracy). The directors are elected by the shareholders, and in turn appoint the CEO. Much in the same way as the President appoints the cabinet. This is a sort of representative government. The employees can express political views, usually through their trade union. Much in the same way that civil servants are not supposed to publicly express political views. The duty of any company director is to ensure that the company is governed, within the law, in the best interests of the shareholders. If this doesn't occur, shareholders can hold the directors personally responsible. But, just like politicians, incompetent or unlucky directors are simply removed, only those who have broken the law, lose the protection of the corporate veil.
          Joeviocoe
          • 3 Months Ago
          @Joeviocoe
          Thems the rule for bankruptcy. Gotta love this "corporations are people" rhetoric. When they want their money to count as unlimited speech in political campaigns, they are people. When it is time to go bankrupt, they can simply be dissolved, without any consequence for the people responsible.
          Joeviocoe
          • 3 Months Ago
          @Joeviocoe
          As far as consequences for bankruptcy... you make excellent points. I am willing to concede that point, however, there is great variability in which those involved in the company are willing to be tied into the company. Stock options, 401k, etc... are optional. People choose how attached they will be to the fate of the company. In some instances, they see the sinking ship and fashion golden parachutes and may even intentionally sink the company. Not the norm though, so I get what you're saying.
      paulwesterberg
      • 3 Months Ago
      I would rather buy a full electric - I already have a prius for long trips. My wife's car is now 10 years old so right now I am leaning towards replacing it with the 2013 leaf, but am waiting to see what its specs and price end up being. The leaf and the volt are about the only plug-in vehicles they sell round these parts.
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