Tesla stock soars, but is your next car, SUV or pickup a Tesla?

Tesla stock soars, but is your next car, SUV or pickup a Tesla?



Is your next car a Tesla?

Investors seem to think it might be.

Tesla’s future is looking brighter than ever after an 80% surge in the company’s stock this year has made it the second-most valuable automaker in the world.

But now the company needs to rapidly expand its vehicle lineup to live up to the financial hype.

The stock increase, placing Tesla behind only Toyota in market value, has baffled some skeptical analysts while giving others evidence that their long-held beliefs in Tesla’s potential could come true.

What’s clear is that for Tesla to live up to the hype, the company will need to quickly expand its roster — which currently comprises a luxury sedan and SUV and “lower-end” sedan that can top $50,000 — into a wide assortment of options, including potentially a mainstream car or SUV, with high-tech features and ample profits. Most major automakers sell several times as many vehicle models as Tesla, including body styles the company does not currently offer, such as pickups and large SUVs. Most offer a much wider range in price.

“They are going to broaden the lineup,” said Jessica Caldwell, executive director of industry analysis at car-research site Edmunds.

As of Friday morning, Tesla’s shares were trading in the range of $740, up from about $460 a month earlier and up from about $335 a month before that.

Key questions:

Will Tesla make a car under $30K?

For a long time, Tesla CEO Elon Musk promised that the company’s Model 3 compact car would be an affordable option. While the vehicle has been a hit, analysts say most buyers pay close to $50,000, well above January’s average vehicle price of more than $37,600, according to Edmunds. Technically the Model 3 starts at $39,990, but that comes with shorter battery range and fewer premium interior features than the souped-up versions. 


Source link

Categorized as Business

By Bernice Caldwell

Bernice is one of the finest authors Industry News Today portal has until now. Bernice's linguistic and well-written technique is one of the plus points that have the readers glued to her articles. Bernice currently heads the Healthcare and Services domain as her knowledge on the medical topics is immense. She has just joined the Industry News Today portal 6 Months back but the love for writing can be very well seen. She may be short on experience but it has definitely not stopped her from presenting some of the finest articles. Bernice is currently a very well-known personality on the portal to have shown her skillful writing in such a limited time span.

Leave a comment

Your email address will not be published.