It is becoming bigger and bigger with every passing day. Tesla vs Porsche vs Buick vs Lincoln & others war in California has been spectacularly won by Tesla Motors
California automaker Tesla Motors wonder the all electric Model S is eating into the giant share of established brands including Buick, Lincoln, Porsche, Volvo and Cadillac. So much so that the small wonder apart from outselling these cars have also outdone Jaguar and Land Rover in terms of registration.
The startling revelation that left many shell shocked was made in a report submitted by the California New Car Dealers Association. According to the report Tesla saw a total of 4,714 registrations in California thus getting into the 0.6-percent market share in the state. The report has also maintained that Tesla is now the third highest selling luxury car brand in the state that is closely following BMW and Mercedes.
The model that single handily managed the feat and given sleepless nights to the car manufacture costs more than $70,000 and outperform the various products launched by Cadillac, Chrysler and Porsche for the month of June.
Recently Tesla CEO Elon Musk had announce a guarantee for a buyback of the cars at 50 per cent of their original sale price, after only three years. According to the experts this might have contributed largely to the sale of the vehicle. In an interview, Musk had stated that selling 40,000 vehicles in a year was a pretty safe bet.
Also, the manufacture benefitted highly from the recent jump in sales as the company’s were shot upto $161 per share thus putting their valuation at just under half that of Chrysler.