Tesla Sedan Drives Record Sales, Electric Cars Outsell Porsche, Jaguar, Volvo in CA
It looks like safety pays off.
Roughly a week after Tesla Motors, Inc. announced that the National Highway Traffic Safety Administration awarded its Model S electric car with a 5-star safety rating, reports have surfaced that Tesla sales have soared in California.
The cars are becoming so popular that The California New Car Dealers Association has reported that Tesla cars in California are selling better than Porsches, Jaguars, Volvos, Land Rovers, and Lincolns. The electric car company has sold 4,714 cars this month, nearly 120 more than Porsche.
Popular stars such as Ashton Kutcher have fallen in love with the car; Kutcher bought stock in the company after buying his car. Tesla's stock has quadrupled in the last year and the positive publicity only helps the company as it continues to emerge as one of the more relevant brands in the auto industry.
One college student, Patrick Hop, has watched his risky $30,000 investment in Tesla stock rise to an approximate worth of $250,000. Hop told CNBC that everyone initially thought he was "crazy" for making the risky move.
"Now my friends are surprised this has actually worked," Hop said. The company's stock is reportedly up by 400 percent from last year, when the company only sold 14 cars.
According to the company's website, the Model S recharges in, "less than half the time it takes to refill a gas tank," roughly a minute and a half. The site also says that the company will be releasing another car in 2014, The Model X. Consumers have the opportunity to put down a $5,000 payment to reserve the car before it is released.