The new quarter has brought new news for the car making darling Tesla Motors Inc (NASDAQ:TSLA). It was noted and commented on in the June shareholders meeting with CEO Elon Musk, that the company has introduced many different changes to the popular Model S.
What changes have Tesla Motors Inc (NASDAQ:TSLA) made?
The different changes that will be implemented for the model starting with slight tweaks in terms of enduring the weather. The new Tesla Model S will enable users to drive much more comfortably in below-freezing temps and other semi-extreme situations. Some of the other changes are a three-zone rear seat heater, wiper blade defrosters, and washer nozzle heaters. All of these are aimed to make the experience of the driver much more comfortable.
Another change is pricing; XM satellite radio prices will be upped slightly, and others, such accessories and services, which come with the car, will be increased as well. Customer dissatisfaction aside, some estimates predict that these changes will increase the sticker price of a Model S by a little under 10%, but that’s likely an overestimate.
In case you were wondering, Tesla’s latest Model S had a price range between $58,570 and $106,570.
Now, generally speaking, some Tesla Motors Inc (NASDAQ:TSLA) bears think that the new model in the model might affect the company’s ability to hit its year-ahead sales forecast. Most estimates place this figure well above 30,000, with around 10% of these sales coming from the Model X luxury utility vehicle. The Model X is set to be released in early 2014.
What else will the new Model S offer?
With all of this said, even if the net cost of a Model S increases, there are also plenty of other features that higher price-point buyers can be excited about. These include but are not limited to: a valet parking mode, an improved navigation system, phone integration, and more.
Clearly, there’s no shortage of critical opinions on Tesla Motors Inc (NASDAQ:TSLA) and more importantly, its stock price. Shares of the company have risen an astounding 351% since the start of the year, and despite being written off as a bubble, there’s a chance it can behave like an Amazonian and ignore valuation multiples altogether.
From an average investor’s standpoint, it’s about selling the story of a future dominated by the electric vehicle and supercharger stations. Naturally, one would assume that the company leading this innovative charge would be at the forefront, but there’s always potential for a General Motors Company (NYSE:GM) or Ford Motor Company (NYSE:F) to come along too, and possibly offer a lower price point.
Regardless, we’ll continue to watch Tesla and its Model S (and Model X). Enjoy the ride, bulls, and enjoy the video below: