Tesla Adds New Options For Model S, Raises Prices (PluginCars.com)
While the price of many plug-in cars is falling, in an ongoing EV price war, Tesla Motors Inc (NASDAQ:TSLA) is upping the price of some of its build-to-order options for its luxury sedan. At the start of August, the Californian automaker quietly added new options to its Model S, simultaneously increasing the price of some existing options. The base-model pricing remains unchanged for both 60 kWh and 85 kWh—and actually drops for base-model P85 performance spec. But the majority of Model S customers, who specify at least one build-to-order option, will pay more for their car. Some added extras—like $2,500 aerodynamic wheels which Tesla Motors Inc (NASDAQ:TSLA) says will marginally improve the Model S’ range and a $750 subzero weather package consisting of triple-zone rear seat heaters, wiper blade defrosters and washer nozzle heaters—will likely be welcomed by many Tesla fans. But other customers are feeling somewhat cheated.
3 to Watch: TWX, RL, TSLA (CNBC)
Car Charging Group’s Farkas to Moneynews: Tesla’s Success Will Filter Down to Cheaper Electric Cars (Moneynews)
The success that Tesla Motors Inc (NASDAQ:TSLA) is now having with high-end electric cars will ultimately trickle down to less expensive models, says Michael Farkas, CEO of the Car Charging Group, which provides electric car charging services. “The core problems that all of the other car companies had was very simple. If we see any new technology, it’s always adopted by those that can afford it, and it’s typically those on the higher end of the market,” he told Newsmax TV in an exclusive interview. The same thing happened with computers and cell phones, Farkas says. “Tesla just did it with the right business model whereas the [Chevrolet] Volt and the [Nissan] Leaf didn’t in their initial cars.”
Tesla Motors Inc (TSLA): How This Car Company Makes Millions Selling Carbon Credits (Insider Monkey)
Tesla Motors Inc (NASDAQ:TSLA) was formed in 2003 with the idea of building a car with an alternative current (AC) electric motor similar to Nikola Tesla’s original design. Ten years later, Tesla Motors eked out its first profit – an $11.25 million take in the first quarter of 2013. It’s been a long road for Tesla Motors Inc (NASDAQ:TSLA), and the company has had to get creative in how it finances itself to keep revenues flowing in. From 2011 to 2012, the company was able to double its revenue, going from $204 million to $413 million. Some of that can be attributed to the doubling of its fleet from one car to two. The company also makes money from its competitors in a very crafty way, however; it sells carbon credits to other automakers.
Tesla Is Set To Take On Snow With An All-Wheel Drive Model S (Jalopnik)
By all accounts, the Tesla Motors Inc (NASDAQ:TSLA) Model S is a fantastic engineering accomplishment and also great to drive. And now Tesla is looking to expand to cooler, snowier climates with the addition of a Model S with all-wheel drive. Watch out, basically everybody. An AWD Model S makes sense since Tesla is getting ready to introduce the Model X crossover, so much of the same tech could appear across both cars. It’s not clear if the chassis is the same as the Model X, but Musk has mentioned it separately. That leads me to think that it is a different car.