Tesla Beats Toyota, Volkswagon in California# Stock
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Tesla Motors, Inc. 's ( TSLA ) Model S was the third highest selling car in
the luxury and sports-car segment in California in the first half of 2013, a
ccording to a report by the California New Car Dealers Association. The sale
s totaled 4,714 cars in the first six months of 2013.
Daimler AG 's ( DDAIF ) Mercedes E-Class and Bayerische Motoren Werke AG's B
MW 5-Series occupied the first two spots. However, Tesla beat Toyota Motor C
orporation 's ( TM ) Lexus GS and Volkswagen AG 's ( VLKAY ) Audi A6. This i
s good news for the company as electric cars still occupy a niche market seg
ment.
Though Tesla has acquired a substantial market share for Model S through its
impressive design and enhanced performance, it has a long way to go. Althou
gh the company sold 1,097 Model S cars in Jun 2013 compared with only 8 cars
in Jun 2012, its market share in California remains negligible. This is par
tly because Tesla has only one model in the market, while competitors have m
ultiple high-selling cars.
However, this problem will be solved to a certain extent once Tesla's Model
X hits the market next year. The company is also launching a right-hand vers
ion of Model S soon.
These launches are expected to boost Tesla's market position. However, even
Model S is rapidly gaining market share. Tesla delivered 5,150 Model S in th
e second quarter of 2013, which surpassed its projection of 4,500 deliveries
.
Sales are expected to increase further once Model S becomes easily available
in other parts of the world. Tesla is gradually working toward this goal. T
he company recently opened an assembly and distribution center in Netherland
s, which will allow the automaker to transport parts anywhere in Europe with
in 12 hours. Tesla also opened reservations for Model S in China earlier thi
s month.
Tesla's share price reflects its rising demand. The stock gained 1.5% to clo
se at $164.22 on Aug 26, when California New Car Dealers Association's repor
t was made public. Moreover, Tesla's shares have recorded an astounding 385%
gain since the beginning of 2013.
Tesla currently carries a Zacks Rank #2 (Buy).
Read more: http://www.nasdaq.com/article/tesla-beats-toyota-volkswagon-in-ca
lifornia-analyst-blog-cm270669#ixzz2dGP4tBvs
the luxury and sports-car segment in California in the first half of 2013, a
ccording to a report by the California New Car Dealers Association. The sale
s totaled 4,714 cars in the first six months of 2013.
Daimler AG 's ( DDAIF ) Mercedes E-Class and Bayerische Motoren Werke AG's B
MW 5-Series occupied the first two spots. However, Tesla beat Toyota Motor C
orporation 's ( TM ) Lexus GS and Volkswagen AG 's ( VLKAY ) Audi A6. This i
s good news for the company as electric cars still occupy a niche market seg
ment.
Though Tesla has acquired a substantial market share for Model S through its
impressive design and enhanced performance, it has a long way to go. Althou
gh the company sold 1,097 Model S cars in Jun 2013 compared with only 8 cars
in Jun 2012, its market share in California remains negligible. This is par
tly because Tesla has only one model in the market, while competitors have m
ultiple high-selling cars.
However, this problem will be solved to a certain extent once Tesla's Model
X hits the market next year. The company is also launching a right-hand vers
ion of Model S soon.
These launches are expected to boost Tesla's market position. However, even
Model S is rapidly gaining market share. Tesla delivered 5,150 Model S in th
e second quarter of 2013, which surpassed its projection of 4,500 deliveries
.
Sales are expected to increase further once Model S becomes easily available
in other parts of the world. Tesla is gradually working toward this goal. T
he company recently opened an assembly and distribution center in Netherland
s, which will allow the automaker to transport parts anywhere in Europe with
in 12 hours. Tesla also opened reservations for Model S in China earlier thi
s month.
Tesla's share price reflects its rising demand. The stock gained 1.5% to clo
se at $164.22 on Aug 26, when California New Car Dealers Association's repor
t was made public. Moreover, Tesla's shares have recorded an astounding 385%
gain since the beginning of 2013.
Tesla currently carries a Zacks Rank #2 (Buy).
Read more: http://www.nasdaq.com/article/tesla-beats-toyota-volkswagon-in-ca
lifornia-analyst-blog-cm270669#ixzz2dGP4tBvs
