On: Tesla envy grips Germany’s giants

[codeulike]

I'm basing it on what Elon Musk said at the 2015 North American International Auto Show. And the often mentioned 20% margin on the Model S.

http://uk.businessinsider.com/heres-everything-elon-musk-sai...

[ddeck → codeulike]

I'm typically inclined to look at the financials rather than what executives have to say ;)

I presume he's talking gross margin, which excludes prior R&D (except capitalized), marketing, distribution & sales costs, office/admin expenses, financing costs etc.