Tesla Motors Inc (TSLA) Is Seeing A Lot Of Traction In Washington State
Late last month, we wrote about how Tesla Motors Inc (NASDAQ:TSLA) was doing well in California. The Tesla Model S vehicle was listed in the top 5 selling models in the luxury and sports-car segment. The company was in third place in that market with 4,714 registrations after the Mercedes E-Class and the BMW 5-Series. Tesla Motors is expected to produce around 21,000 vehicles this year and around 12,700 have been delivered. Bloomberg BusinessWeek and Hedges & Co., an Ohio-based auto researcher company, has compiled some figures to see how the Model S was doing in other states as well.
California is still the top state for the most Teslas registered due to the number of early adopter and wealthy types in the state, coupled with a $7,500 federal tax rebate. However, there is another interesting figure based on the state of Washington. The state of Wahsington does not have state sales taxes and emissions inspections on the Model S, which may be a couple of reasons why the state of Washington has the highest ratio of the Model S registrations relative to all other new passenger car registrations this year. Washington is the top state for Teslas in terms of Bloomberg and Hedges’ density metric.
During the first half of the year, “Washingtonians registered one Tesla for every 100 passenger cars.” In California, 107 other cars were registered for every Tesla. The other big markets for Tesla includes Washington D.C., Hawaii, and Oregon. Tesla Motors Inc (NASDAQ:TSLA) sees a lot of growth in places where they already have customers. Tesla’s customers are some of the company’s biggest salespeople and advocates.
“Where we have cars, we’re going to sell more cars,” stated Tesla Motors Inc (NASDAQ:TSLA) Shanna Hendriks in an interview with Bloomberg BusinessWeek. “Our customers are actually being our salespeople.”
[Source: Bloomberg BusinessWeek]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry