Despite the fact that the automotive industry has evolved over time, one thing has stayed pretty much the same: manufacturers are wiling to spend as much money as it takes to get their message out to the world. However, this is not the case for one company. Tesla Motors Inc (NASDAQ:TSLA) has not taken this approach. Instead, the company is paving its own way and having a good time doing so.
In today’s day and age, especially in the ultra-competitive automotive industry, it is amazing to consider the fact that Tesla does not employ an advertising agency. Even more so, the company doesn’t have a big marketing team that goes out to spread the word in hopes of drumming up new business. Instead, the company is doing things its own way with CEO Elon Musk at the help.
Tesla Motors Inc (NASDAQ:TSLA) stock has tripled in 2013, showing that both consumers and investors are taking the company seriously. Does this mean the stock will continue to take off in the months to come? Things could go either way. That being said, don’t expect this to change the way the company does business.
Automotive News recently took a closer look at the company’s market strategy, one that is nothing similar to what the competition is doing:
“The Palo Alto, Calif., company is breaking all the rules of automotive marketing, eschewing dealers in favor of selling through “stores” in upscale shopping malls and the internet.
Tesla has 35 stores across the United States, Europe and Asia and plans to expand to 50 over the next few years, according to an SEC filing.’
Tesla Motors Inc (NASDAQ:TSLA) does not have dealerships. Instead, the company takes a more unique approach to pushing its product line.
While this has been a problem for the company, most recently losing a court battle in Texas, the future still looks bright.
There is no reason to believe that Tesla is going to alter its approach in the future. Instead, the company will continue to rely on its small seven member marketing team that focuses primarily on the company’s web presence.
Tesla Motors Inc (NASDAQ:TSLA) is doing big things without relying on traditional advertising and marketing. This is good for the company but is irking many within the industry as a whole.