Tesla Motors Inc (TSLA): Hundreds Gather At Palo Alto Showroom To See The Model X

Posted Oct 14, 2013

Tesla Motors Inc (NASDAQ:TSLA) recently held an event at their Palo Alto, California store where a prototype of the Model X SUV was put on display.  Tesla recently surpassed 6,000 orders for the Model X where customers were required to put down $5,000 for the standard version or $40,000 for the Signature version. The Model X is expected to cost between $70,000 and $90,000 when it arrives on the market next year.

The grand opening of the Palo Alto store was yesterday.  Hundreds of people arrived at the event to take photos of the store.  The store has flat screen monitors all over the walls that shows the benefits of Tesla vehicles.  Tesla hired a DJ to play hot beats.  Many of the visitors pulled up in Tesla Model S vehicles.

The 27,000 square foot retail store is Tesla’s fifth location in the Bay Area, including stores and service centers in San Jose, Fremont, San Rafael, and Burlingame.  Tesla has 41 locations in North America.

Tesla Motors Inc (NASDAQ:TSLA) has sold over 13,000 Model S cars and is expecting to hit 21,000 this year.  Tesla’s stock increase from $22 per share in January 2012 to over $179 today.

Last month, it was reported that Tesla Motors Inc (NASDAQ:TSLA) patented dual hinged vertical doors for the Model X.  The set of rear doors on the vehicle opens vertically, which allows access to the vehicle’s interior.