Tesla Motors Inc (NASDAQ:TSLA) is on a roll that even the best World Series of Poker champion would be envious. It may have been a secret before, but based on the last couple of days surrounding this electric-car manufacturer, the secret is now out: The S in Model S stands for “spectacular.” Or “superlative.” Or “stupendous.” Or the positive, street-slang version of “sick.” We already need a thesaurus to come up with more adjectives.
Tesla Motors Inc (NASDAQ:TSLA) is on – yes, we’ll say it – a sick roll. After the bell Wednesday, Tesla announced its first-ever quarterly profit and shares spiked more than 12 percent after-hours because the company didn’t just make profit, it blew away the consensus Wall Street estimate of an EPS of 4 cents with a mark of 12 cents. The company recorded $562 million in revenue, blowing away Wall Street estimates of $500 million. Thursday morning, shares were up more than 22 percent to about$68.25 per share – and climbing.
And if that earnings report wasn’t enough of a boon for the stock, Tesla Motors Inc (NASDAQ:TSLA) got some even better news about its flagship vehicle, the Model S, when Consumer Reports revealed that it gave the car a score of 99 out of a possible 100 in its review of the vehicle. The full review is slated to appear in the July issue of the magazine, but highlights (and there were many) were shared Thursday morning.
The score represents the best of any model in any category this year, according to the magazine. In fact, it’s at least considered the best car that Consumer Reports has evaluated since 2007. The magazine reviewed the model with the 85-kWh battery that retails for nearly $90,000. Tesla sells a $70,000 model that has a 60-kWh battery. As part of its report, the magazine wrote, “So is the Tesla Model S the best car ever? We wrestled with that question long and hard. It comes close.” The magazine says it compares very favorably with the 2007 Lexus LS 460L, which also got a score of 99 with its V-8 engine.
Tesla Motors Inc (NASDAQ:TSLA) seems to have hit not only a home run, but a grand slam with the Model S, which had won the Motor Trend Car of the Year award earlier this year. Consumer Reports could not stop raving, comparing the car’s handling to a Porsche, the interior to an Audi, and marveled at the car’s distance on a single charge (about 200 miles, more than twice any other electric vehicle) and the relatively cheap cost to “refuel” (about $9 for a full charge, which the magazine translated to about $1.20 per gallon of gas).
The downsides to the Tesla Motors Inc (NASDAQ:TSLA) Model S?